27, Sunshine Lighting announced that it planned to invest 200 million yuan to set up a wholly-owned subsidiary, Zhejiang Sunshine Green Hydrogen Energy Industry Co., Ltd. (Hereinafter referred to as "Sunshine Hydrogen Energy"), to carry out new business related to the manufacture of special equipment for green hydrogen production. The business scope of the
subsidiary mainly includes new material technology research and development, new material technology promotion services, mechanical and electrical equipment manufacturing, mechanical and electrical equipment sales, emerging energy technology research and development, etc.
Sunshine Lighting, founded in 1975 and listed on the Shanghai Stock Exchange in 2000, has been committed to R & D, production and promotion of energy-saving lighting lamps with industry-leading level. In the first half of 2023, Sunlight achieved an operating income of RMB1.534 billion, representing a year-on-year decrease of 23.11%, and a net profit of RMB141 million, representing a year-on-year increase of 41.57% .
Sunshine Lighting said that the company currently has abundant cash flow, and the development of this new business will increase capital expenditure and cash expenditure in the short term, but in the long run, it will have a positive impact on the company's business layout and operating performance, meet the needs of the company's future business development and market expansion, and conform to the company's development strategy.
In view of the current problems of low maturity of hydrogen energy technology, imperfect industrial chain, potential safety hazards and high transportation costs, Sunshine Lighting said that it had made adequate plans in terms of talent reserve, technical reserve and capital arrangement. Ensure the smooth establishment and operation of the new company.
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