Chinese LED manufacturer Honglitronic recently announced the company will release 300 million non-public offering shares to raise RMB 725 million (US $116 million). The purposes of this round of financing is mainly for the construction of SMD LED manufacturing facilities, acquiring 49% of Liangyou Hardware’s shares, and increasing bonds payable and circulating capital.
Honglitronic mainly manufactures white LED packaging products. The company is mainly involved in LED module and related products R&D, manufacturing and sales. The company’s products are widely used in general lighting, backlighting, automobile lighting, specialized lighting, display screen lighting and other applications. The funds raised will help the company further expand LED packaging product business to provide a comprehensive supply chain and increase profitability.
