Announcement on February 15, 2016: approved by the 29th meeting of the 8th board of directors on February 5, 2016 and according to the development demands of Xiamen San’an IC Circuit Co., Ltd (hereinafter referred to as San’an IC), after the friendly negotiation with Chengdu OPTO Electronics Co., Ltd, the company’s board of directors decided to take June 30, 2015 as the equity transfer benchmark date and price San’an IC’s 100% equity as 1.1 billion Yuan; the company used its own 82.5 million Yuan to act as the transferee of San’an IC’s equity of 7.5% held by Chengdu OPTO Electronics Co., Ltd and signed the Equity Transfer Agreement. After this transfer, San’an Optoelectronics will have San’an IC’s 100% equity.
This transfer was made due to the business development demands of San’an IC. Currently, some of the sample products for testing have passed authentication and some of the products are still under authentication. After the completion of this transfer, San’an IC will become a wholly-owned Subsidiary of San’an Optoelectronics with clear equity structure; it is good for client expansion and will lay the foundation for subsequent development.