Foshan Lighting plans to acquire Shanghai Liangzhou to accelerate the development of marine lighting business

On October 31, Foshan Lighting announced that the company's wholly-owned subsidiary Fozhao (Hainan) Technology Co., Ltd. ("Hainan Technology") signed a "Letter of Intent for Equity Acquisition" with shareholders Jiang Ailiang and Jiang Shidi of Shanghai Liangzhou Lighting Manufacturing Co., Ltd. Hainan Technology plans to acquire the transferor's 51% stake in Shanghai Liangzhou by cash payment. After the acquisition is completed, Hainan Technology will become the controlling shareholder of Shanghai Liangzhou.

Information shows that Shanghai Liangzhou was founded in 2000. It is a professional manufacturer of marine lighting that integrates R&D, design, production and sales services. It mainly provides complete ship lighting fixtures for medium and large domestic shipyards. At the same time, its products are exported to Europe, the Middle East, Southeast Asia and other regions. The company's main products include marine navigation signal lights, cabin lights, canopy lights, floodlights, explosion-proof lights and marine connectors.

Hainan Technology was established in 2021. It is a subsidiary of Foshan Lighting with a registered capital of 200 million yuan. The company focuses on developing the marine lighting economic industry. Foshan Lighting said that through this acquisition, its subsidiary Hainan Technology will quickly enter and expand the business fields of ships, offshore platforms and related special lighting based on its existing fish lighting, marine aquaculture lighting, deep-sea lighting and other businesses, and accelerate the expansion of the company's marine lighting business.

Foshan Lighting accelerates marine lighting business layout

In recent years, as the country accelerates the construction of a maritime power and launches a series of industrial policies, marine lighting has ushered in new development opportunities. Foshan Lighting has therefore actively explored emerging LED subdivisions such as marine lighting, animal and plant lighting, and intelligent lighting. Before this acquisition, Foshan Lighting has embarked on a rapid layout in the field of marine lighting:

In terms of product scientific research, in 2020, Foshan Lighting quickly established a professional business team in the field of marine lighting, and joined forces with the Institute of Deep Sea Science and Engineering of the Chinese Academy of Sciences to build a joint laboratory for deep sea lighting engineering technology to accelerate the development of marine lighting products and solutions. A number of lighting products such as deep-sea searchlights have been developed.

Since then, Foshan Lighting has cooperated with Dalian Ocean University to carry out research on aquaculture lighting products. In 2022, Foshan Lighting and the Institute of Deep Sea Science and Engineering of the Chinese Academy of Sciences and other enterprises and units will jointly establish a joint laboratory for deep sea lighting engineering technology to conduct research in the field of deep sea/ocean lighting.

In terms of production capacity, in November 2021, Foshan Lighting’s marine lighting R&D and manufacturing base project was officially launched. The project area is 34931.13 square meters, and the investment in fixed assets is approximately 314 million yuan. The project will be used in deep-sea lighting, port lighting, ship lighting, diving lighting, marine fishing and aquaculture lighting and other industries. The first phase of the project is currently under construction.

Currently, Foshan Lighting already has marine lighting products and solutions that meet the different needs of deep sea, shallow sea, and aquaculture. Foshan Lighting said that in the future, the company will focus on deep-sea lighting, marine fishing lighting, aquaculture lighting and other fields.