2013-08-23

Furi Electronics Achieves Leapfrog Development with MR LED Photoelectricity Acquisition

Furi Electronics will be holding a shareholders’ meeting on Sept. 2 to decide on the company’s private investments to acquire 92.8% of MR LED Photoelectricity Co. stock shares. According to the transfer of stock rights agreement, once the deal is sealed MR Photoelectricity’s 2013-2015 financial reports will belong to the parent company. Excluding non-recurring profits and losses, MR Photoelectricity’s earnings cannot be less than RMB 30 million (US$ 4.9 million), RMB 35 million and RMB 39 million throughout the three years, and total net profit cannot be lower than RMB 12,000. 
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