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Shunfeng International acquires LED lighting company Jingneng Optoelectronics
(March 23, 2015, Hong Kong) Shunfeng International Clean Energy Co., Ltd. ("Shunfeng Clean Energy" or the "Group"; Share Code: 1165.HK), a low-carbon clean energy total solution service provider, is pleased to announce that it is downwind Clean Energy plans to acquire Jingneng Optoelectronics Group, which is engaged in LED production business. The Group entered into a memorandum of understanding with Jingneng Optoelectronics on 51 of the issued share capital of Jingneng Optoelectronics Group. It is also proposed that the acquisition consideration should be paid by Shunfeng Clean Energy by issuing and allocating new shares to the seller. Jingneng Optoelectronics Group is a company incorporated in the Cayman Islands. Jingneng Optoelectronics Group is principally engaged in the production of LED wafer products that can be widely used in general lighting, display screens, LCD backlights and industrial fields. Jingneng Optoelectronics Group is a world-class leader in GaN epitaxial growth and wafer processing technology on silicon substrates. It is the world's first high-power, high-performance silicon substrate LED chip company. With the disruptive six-inch and eight-inch silicon substrate LED technology, Jingneng Optoelectronics Group has obtained more than 200 patents worldwide, vertically integrating the LED industry chain, and successfully achieved commercial mass production for general lighting, smart phones and automobiles. Lighting provides low-cost, high-performance LED lighting products. Windward Clean Energy is committed to becoming the world's leading provider of total clean energy solutions. Through strategic acquisition and integration, the Group has a number of industry-renowned branded product technologies to form an overall clean energy solution. The Group's current product technologies enable continuous improvement of energy generation such as solar energy, wind energy, seawater power generation, ground source heat pumps, etc., combined with energy management and storage, targeting large government public facility users, commercial users such as large stadiums, commercial facilities, and offices. Buildings, schools, hospitals and other facilities as well as home customers provide integrated solutions for clean energy. The solution can be achieved on a green basis, with overall energy savings of up to 50 to 70. As a continuous, reliable, efficient and energy-saving lighting technology, LED lighting has a huge market prospect in the future. LED lighting can save 50 to 80 energy compared to ordinary lighting, and it is bound to replace traditional lighting. Jingneng Optoelectronics Group has revolutionary silicon substrate LED technology, compared with traditional sapphire substrate LED, the cost is greatly reduced, which can bring huge profit contribution to the group. The Group will rely on the core technology advantages of Jingneng Optoelectronics Group to integrate the industrial chain in a timely manner on a global scale and strive for greater benefits.