China Trend Plans to Acquire LED Application Business for RMB 228 Million

　　China Trend (08171.HK) announced that on January 7 (last Friday) it entered into an agreement with the seller Joy China Group, planning to acquire a 97% equity interest in Duoduo Innovation (China), which is engaged in LED low-carbon business applications and energy-saving computer structural technology, for a total consideration of RMB 228 million. Of the consideration, RMB 11.4 million deposit will be paid in cash; additionally, RMB 113.74 million will be issued as CB (convertible bonds) at a conversion price of 4 cents per share. If fully converted, it can obtain nearly 30% of the expanded share capital; the remaining RMB 102.86 million will be paid through the issuance of promissory notes with an annual interest rate of 5%.

(Editor: liali)