Feile Audio (600651) announced that the company held the fifth meeting of the 9th Board of Directors on December 5, 2012. The meeting reviewed and approved the joint venture to terminate the establishment of a joint venture with Taiwan Dayou International Optoelectronics Co., Ltd. The motion of the contract.
According to the announcement, Shanghai Yaming Lighting, a wholly-owned subsidiary of Feile Audio, signed a joint venture contract with Dayou International Optoelectronics Co., Ltd. and Lighting Investment Ltd. on the establishment of “Kunshan Yaming Dayou Optoelectronics Technology Co., Ltd.†on March 17, 2012. After the contract was signed, there was no substantial progress in the project.
Feile Audio said that considering the development of LED technology and the actual situation of the project, the board of directors agreed to terminate the joint venture project and authorized the management of the company to complete the relevant procedures for terminating the joint venture contract.
In addition, the board of Feile Audio agreed to sign the “RMB Entrusted Loan Fund Pool Service Agreement†with the holding subsidiaries and banks. The company provides entrusted loans to its holding subsidiaries through banks without exceeding RMB 50 million (including the number). It also reviewed and approved the “Information Disclosure Management System for Debt Financing Instruments in the Interbank Bond Market of Shanghai Feile Audio Co., Ltd.â€.
According to the announcement, Shanghai Yaming Lighting, a wholly-owned subsidiary of Feile Audio, signed a joint venture contract with Dayou International Optoelectronics Co., Ltd. and Lighting Investment Ltd. on the establishment of “Kunshan Yaming Dayou Optoelectronics Technology Co., Ltd.†on March 17, 2012. After the contract was signed, there was no substantial progress in the project.
Feile Audio said that considering the development of LED technology and the actual situation of the project, the board of directors agreed to terminate the joint venture project and authorized the management of the company to complete the relevant procedures for terminating the joint venture contract.
In addition, the board of Feile Audio agreed to sign the “RMB Entrusted Loan Fund Pool Service Agreement†with the holding subsidiaries and banks. The company provides entrusted loans to its holding subsidiaries through banks without exceeding RMB 50 million (including the number). It also reviewed and approved the “Information Disclosure Management System for Debt Financing Instruments in the Interbank Bond Market of Shanghai Feile Audio Co., Ltd.â€.
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