Recently, Mingjiahui announced that it intends to invest 9 million to establish a holding subsidiary in order to optimize and upgrade the landscape lighting project of Qingdao West Coast New District. Mulinsen also said yesterday that the subsidiary Yiwu Mulinsen Lighting received 37.5 million industrial development grants.

Famous family set up a holding subsidiary

On the evening of June 15, Mingjiahui announced that the company intends to jointly establish Qingdao West Coast Landscape Lighting Optimization Engineering Project Co., Ltd. with its own funds and Qingdao West Coast Public Utilities Group Project Management Co., Ltd. (hereinafter referred to as “public group”). The tentative name, the name of the subsidiary is ultimately subject to the approval of the market supervision and management department, hereinafter referred to as the “project company”.

According to the announcement, the project company is mainly responsible for the investment, financing, design, construction, operation and maintenance, advertising management, stage and supporting facilities operation and leasing of the PPP project of the West Coast New District Landscape Lighting Optimization and Improvement Project; the registered capital is 10 million yuan, of which Famous members remitted and paid 9 million yuan, accounting for 90% of the equity; public group subscribed for 1 million yuan, accounting for 10% of the equity.

Mingjiahui said that the company’s foreign investment in establishing a holding subsidiary is to implement the “PPP Cooperation Agreement” signed between the company and the local government, which can effectively enhance the brand awareness and influence of the company in the engineering lighting field of Shandong Province, and will also help Expanding the company's engineering lighting business in Shandong Province and the whole country is conducive to the long-term development of the company and opening up a new situation for future cooperation in PPP projects, especially in the field of lighting engineering.

Mulinsen subsidiary receives government subsidies of 37.5 million

Mu Linsen announced on the evening of (18) that the company's wholly-owned subsidiary Yiwu Mulinsen Lighting Technology Co., Ltd. received the Yiwu Information Optoelectronics High-tech Industrial Park Management Committee on June 15, 2018. The Notice of the Notice (Yi Gaoxin [2018] No. 46) agreed to allocate the first batch of industrial development subsidy funds of Yiwu Mulinsen Lighting Technology Co., Ltd. in 2018 to 37.5 million yuan.

Mulinsen said that the above funds were transferred to the Yiwu Mulinsen Company account on June 15, 2018. The government subsidies received this time are expected to increase the company's total profit for the year by RMB 37.5 million.

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