35.39 million capital increase in Ruifeng Culture, Starlight shares promotes the development of commercial lighting and other businesses

On March 27, Xingguang Shares announced that the company had signed an "Acquisition Intention Agreement" with Guangzhou Ruifeng Audio Technology Co., Ltd. ("Ruifeng Technology") and its controlling shareholder Wang Ruixiang. The company plans to acquire part of the equity or assets of Ruifeng Technology with its own and self-raised funds. At present, there is new progress in this matter.

On April 16, Starlight Co., Ltd. announced again that in order to promote synergy and linkage, empower technological innovation in its main business, promote rapid business growth and enhance development space, Starlight Co., Ltd. plans to use its wholly-owned subsidiary Guangdong Starlight Investment Holding Co., Ltd. (hereinafter referred to as: Starlight Investment Holdings) to use its own funds of 35.3878 million yuan to increase investment in Guangdong Ruifeng Cultural Technology Co., Ltd. (hereinafter referred to as: Guangdong Ruifeng Cultural Technology).

Among them, 20.8996 million yuan was invested as registered capital, and the remaining 14.4882 million yuan was included in the capital reserve fund. After the capital increase is completed, the registered capital of Guangdong Ruifeng Cultural Technology will increase from 20.08 million yuan to 40.9796 million yuan. Starlight Shares will hold 51% of the equity of Guangdong Ruifeng Cultural Technology; the original shareholder Ruifeng Technology will hold 49% of the equity of Guangdong Ruifeng Cultural Technology.

The parties to the transaction also agreed that the transaction price will be paid in three installments:

The first installment is within 3 days after the capital increase and share expansion cooperation agreement takes effect. Starlight Investment Holdings pays Guangdong Ruifeng Culture Technology an initial capital increase of 5 million yuan;

The second installment is within 3 days after the capital increase listed in the agreement completes all industrial and commercial transfers. Starlight Investment Holdings pays Guangdong Ruifeng Culture Technology a second installment of capital increase of 20.3878 million yuan;

The third phase stipulates that in 2024 or 2025, if the audited operating income of Guangdong Ruifeng Cultural Technology reaches 100 million yuan, Starlight Investment Control will pay the final capital increase of 10 million yuan to Ruifeng Technology within 3 months after completing the audit of the annual report for the year of performance.

It is reported that Ruifeng Technology takes "culture technology + sports" as its development strategy, and its business covers four major fields: product manufacturing, cultural performing arts, innovative cultural tourism, and sports operations.

Guangdong Ruifeng Culture Technology was established on April 13, 2001. It is currently a wholly-owned subsidiary of Ruifeng Technology. It is responsible for the engineering construction of Ruifeng Technology's main business projects. It is a comprehensive service enterprise engaged in intelligent audio-visual and multimedia system integration, architectural acoustics and decoration projects.

Starlight Shares believes that this investment will help further deepen the company's strategic partnership with Ruifeng Technology, strengthen synergy and linkage, enhance the company's market development capabilities, promote the company's rapid development in cultural tourism commercial lighting, stage lighting, urban lighting engineering and other businesses, and form new growth points to enhance the company's business scale and profitability, in line with the company's long-term development strategic plan. (Compiled by LEDinside Lynn)

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