Shunfeng Clean Energy acquires 51% equity stake in JNCE

Shunfeng Clean Energy (01165.HK) announced yesterday that it has entered into a memorandum of understanding with JNCE to acquire a 51% equity stake in JNCE.

Data shows that in 2014, JNCE produced 100 million LED light bulbs. As a sustainable, reliable, efficient, and energy-saving lighting technology, LED lighting saves 50%-80% more energy compared to conventional lighting. JNCE's high-performance LED lighting products and services are applied in general lighting, smartphones and automotive industry. The company currently holds over 200 patents, and Shunfeng Clean Energy's global low-carbon energy-saving solutions will bring significant new profit growth points to the company.

Zhang Yi, Chairman of Shunfeng Clean Energy, stated: "JNCE's breakthrough technology represents a new generation of lighting products that are highly energy-efficient and low-cost. Developing cost-effective lighting solutions is a crucial step in addressing global energy conservation and emission reduction. In the future, the company will provide a large number of high-quality and affordable products to replace traditional lighting in the global lighting market, while also opening up unlimited prospects for listed companies to enter the vast lighting market. The lighting business will become a major source of profit for the listed company."

Wu Shenjun, Managing Director of Jinsha River Venture Capital and Executive Chairman of JNCE Optoelectronics, analyzed that silicon-based LED technology is the ideal choice for next-generation silicon chips, with broad future market prospects. Many developed countries have already enacted legislation to ban the use of traditional lighting, and the investment market is increasingly focusing on new lighting technologies and products.