Foshan Lighting deregisters two subsidiaries

Recently, Foshan Lighting announced that it plans to deregister two wholly-owned subsidiaries: Foshan Chansheng Electronic Ballast Co., Ltd. (hereinafter referred to as "Chansheng Electronics") and Foshan Electrical Lighting New Light Source Technology Co., Ltd. (hereinafter referred to as "New Light Source Company"), aiming to integrate resources, reduce costs, and improve efficiency.

According to the information, the main business scope of Chansheng Electronics Company includes the research, development, production, and sales of electronic ballasts, electronic transformers, electronic starters, electric light source products, electric light source equipment, supporting components for electric light sources, raw materials for electric light sources, luminaires and accessories, electrical materials, motor vehicle parts, household appliances, electrical switches, sockets, fire protection products, ventilation and air exchange equipment, and LED products.

The business scope of New Light Source Company includes the R&D and sales of electrical, lighting, and electromechanical products; design, construction, and maintenance of lighting and electromechanical engineering projects; design, construction, and technical services for intelligent building engineering; investment in energy saving projects; energy saving design and consulting; construction of energy saving projects; energy saving services; Energy performance contracting (EPC / EMC) and technical services; and evaluation of energy saving projects.

Foshan Lighting stated that Chansheng Electronics and New Light Source mainly provide OEM production for the parent company and do not conduct independent external business. To integrate internal resources, reduce operational and management costs, and improve asset operating efficiency, the company decided to deregister Chansheng Electronics and New Light Source. Upon completion of deregistration, Chansheng Electronics and New Light Source will no longer be included in the company's consolidated financial statements, but this will not have a significant adverse impact on the company's overall business development and profitability, nor will it have a substantial impact on the company's consolidated financial statements.