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HONG KONG, Nov 17, 2010 - (ACN Newswire) - China Innovation Investment Limited ("China Innovation", Stock Code: 1217.HK), the company focuses on the investment of "Four-New Industries", is delighted to announce that the Company entered into the Equity Interests and Shareholders' Loan Swap Agreement, to swap its equity interests and shareholders' loan on Dooda Innovation Limited ("Dooda Innovation") for the equity interests and shareholders' loan of Aesthetic Vision Limited("Aesthetic Vision"), in order to enhance the Company's strength in the "New Light Resources".
According to the Agreement, the Company agrees to swap the 150 A shares and 2,250 B shares it holds in the equity interests of Dooda Innovation for the 1,890 B shares that Joy China Group Limited ("Joy China") holds in the equity interests of Aesthetic Vision. At the same time, the Company will swap the shareholders' loan of Dooda Innovation amounted to HK$51,352,252 for the shareholders' loan of Aesthetic Vision amounted to HK$51,352,252.
Aesthetic Vision's major product is LED lighting. It possesses of LED ergonomics technology with features including LED illuminant, appropriate light flux, free colour temperature, healthy spectrum and compliance to ergonomics. Its products are widely used in military production as well as civic purposes.
The principal business of Dooda Innovation is the application of LED backlight and lighting technology, a new energy-saving lighting technology, in research, design, manufacture and sale of the new LED lighting products for both military production and civic purposes.
As China Innovation intended to form an industrial chain integrating the four new industries to integrate the application of the new energy technology and products, the new lighting technology and products, and the new materials processing technology products into solar-energy products, such as electric vehicle using solar energy, solar energy notebook computer, solar energy outdoor lighting, and solar energy integrated unit, which would serve both military production and civic purposes. The technologies and products of Aesthetic Vision could match the requirements of the Company in industrial chain technologies and products better than that of Dooda Innovation.
Aesthetic Vision as an enterprise using new illuminants and possessed of powerful research and development technology, is currently planning to further explore into the LED ergonomics and expand its research and development in new illuminants. LED ergonomics have the characteristics of LED illuminant, appropriate light flux, free colour temperature, healthy spectrum and compliance to ergonomics.
The Company adjusts its investment in new illuminants by shifting its existing investment in Dooda Innovation to investment in Aesthetic Vision. This will enhance the Company's strength in the "new light resources" field and also conform to the domestic and global trend.
Contact:
Carmen Lee
Investor Relationship Department
China Innovation Investment Limited
Email: carmen.lee@1217.com.hk
Tel: +852 2111 9988
Direct: +852 2155 6275
Mobile: +852 6301 6611
Fax: +852 2111 9989
Topic: Production report
Source: China Innovation Investment Limited
https://www.acnnewswire.com
From the Asia Corporate News Network
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