On July 1, Mulinsen announced that in order to expand the company's lighting product market, broaden the sales channels of related products, enhance the domestic and foreign market share and popularity of the company's LED products, and further enhance the company's comprehensive competitiveness and profitability in domestic and foreign markets, the company will invest 10 million with its own funds. Yuan established a wholly-owned subsidiary "Shaanxi Mulinsen Lighting Co., Ltd." in Shaanxi (the name is ultimately subject to the approval of the industrial and commercial administration department). The company's wholly-owned subsidiary Mulinsen (Hong Kong) Co., Ltd. (hereinafter referred to as "Hong Kong Mulinsen") plans to invest US$500,000 (equivalent to approximately RMB 3.1 million) from its own funds to establish a wholly-owned subsidiary in India.
It is understood that Shaanxi Mulinsen's business scope includes: R&D, design, and sales of LCD monitors, display screens, electronic products, LED lighting products, and lighting products; undertaking the involvement and construction of various aluminum alloy, stainless steel, display screen installation projects, urban and road lighting projects, night scene lighting projects, and urban greening projects; energy-saving technology research and development services, and sales of hardware materials.
The business scope of the wholly-owned Indian company includes: R&D and sales of LCD monitors, display screens, electronic products, LED lighting products and lighting products.
Mu Linsen said that the establishment of the above-mentioned wholly-owned subsidiaries and wholly-owned subsidiary companies will help expand the company's business scale, improve the company's sales channels and sales network, increase the domestic and foreign market share and popularity of the company's LED products, cultivate new profit growth areas for the company, and further enhance the company's comprehensive competitiveness and profitability in domestic and foreign markets.
ANNA