Sunshine Lighting plans to invest 324 million yuan in its Thai subsidiary

On March 9, Sunshine Lighting issued the "Announcement on Resolutions of the 16th Meeting of the 10th Board of Directors", announcing that it plans to use its own funds to increase capital of 324 million yuan (or the equivalent of US dollars) in its wholly-owned subsidiary Sunshine Lighting (Thailand) Co., Ltd. (hereinafter referred to as "Thailand Sunshine") to build a production base in Thailand.

The announcement shows that Thailand is located in the core area of Southeast Asia, adjacent to important markets such as Malaysia, Singapore, and Vietnam, and has unique location advantages. The Thailand Board of Investment (BOI) provides eligible foreign-invested enterprises with preferential policies such as corporate income tax reduction and exemption, and exemption from tariffs on imported equipment. Sunshine Lighting Thailand Company has officially obtained the BOI certification approval and fully enjoys the policy dividends.

In addition, Thailand’s business environment is friendly to foreign investment. 100% foreign ownership is allowed in the manufacturing sector. Foreign exchange controls are relaxed. The company registration and project approval process is efficient and convenient, effectively reducing the compliance risks of overseas operations. At the same time, local labor costs have comparative advantages compared with China's coastal areas, industrial electricity prices remain stable, and infrastructure is complete, providing an optimal balance of cost and efficiency for large-scale lighting manufacturing production.

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Regarding the purpose of this investment, Sunshine Lighting stated that the completion and commissioning of the Thailand base marks a new stage of the company's globalization strategy. The company will take this opportunity to promote its transformation and upgrading from a "Made in China Exporter" to a "Regional Value Creator", build a solid foundation for development in the context of increasing uncertainty in the external environment, and significantly improve the resilience and risk resistance of the supply chain. ?

At the same time, by deepening the global production capacity layout, the company will further consolidate strategic cooperative relationships with leading customers and lay a solid foundation for long-term stable development. From a long-term strategic perspective, this project is in line with the company's global layout direction and is conducive to expanding overseas market space.

However, the company also reminded that this foreign investment project is in the preparatory stage. In view of the complicated cross-border approvals, complex transaction links, and many international environment and construction variables in Thai investment projects, there is indeed a certain degree of uncertainty risk in the short term. However, from a long-term strategic perspective, this project is in line with the company's global layout direction and is conducive to expanding overseas market space.

Information shows that Sunshine Lighting is mainly engaged in the research and development, production and sales of lighting appliances, and at the same time provides customers with comprehensive lighting solutions. The main products include LED lighting products and lighting control systems, covering commercial lighting, home lighting, office lighting, outdoor lighting, track lighting, industrial lighting, educational lighting and other general lighting, as well as emergency lighting, plant lighting, etc.

In terms of performance, the operating income in the first three quarters of last year was 1.986 billion yuan, a year-on-year decrease of 19.02%; the net profit attributable to the parent company was 129 million yuan, a year-on-year decrease of 15.21%. Among them, the operating income in the third quarter was 659 million yuan, a year-on-year decrease of 16.71%; the net profit attributable to the parent company was 42.42 million yuan, a year-on-year decrease of 57.01%.