the subscription of non-public additional shares of LED

The founder of LED, was elected as executive director with votes of most of the shareholders on June 21, which also means that returned to LED Board, and brings a profit advantage for Led flood light. It is clearly wrote in Earnings forecast statement that the growth in profits is mainly attributable to the decline in management costs after the management is stable, especially the significant decline in accounts receivable provision.

YAHAM had resigned as chairman of LED in May of 2012, which also led to infighting. In December, Wu transferred the holdings to Elec-Tech, helping Elec-Tech to be a new major shareholder of LED, then the pattern that a Roland for an Oliver between major shareholders of LED comes to end. In return, YAHAM is expected to become the second largest shareholder through the subscription of non-public additional shares of LED.


Though it has not been long since YAHAM returned to the Board of Directors, he still has far to go as the CEO. Data shows that the "infighting" in last year caused great decline in LED's sales, net profit in 2012 sharply declined by 98.46% year-on-year, less than 8.42 Million Yuan. As company's important strategic goods,Led high bay lighting products just achieved the sales of 200 million Yuan, less than 10% of company's revenue.

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