On March 18, NVC Lighting announced that the company entered into a sale and purchase agreement with the seller Hong Kong Luoman International Co., Ltd. after the trading hours on March 16, 2018, pursuant to which the company agreed to the acquisition and the seller agreed to sell the Hong Kong Blue Ribbon Trade. For the 40% equity, the consideration is RMB 315 million. On March 18, NVC Lighting announced that the company entered into a sale and purchase agreement with the seller Hong Kong Luoman International Co., Ltd. after the trading hours on March 16, 2018, pursuant to which the company agreed to the acquisition and the seller agreed to sell the Hong Kong Blue Ribbon Trade. For the 40% equity, the consideration is RMB 315 million. Hong Kong Blueprint Trading is a company incorporated in Hong Kong with limited liability. Its business activities include investment holding, lighting, LED, home appliance design and development, communication and promotion, technical consultation and international trade. The Target Company's profit before taxation for the two years ended December 31, 2016 and 2017 was RMB 72 million and RMB 157 million respectively. Hong Kong's Aurora Core Trade indirectly holds an 85% stake in Wuhu NVC, while the company indirectly holds a 10% stake in Wuhu NVC. After the settlement, the company will hold a 40% stake in the target company and indirectly hold a 44% stake in Wuhu NVC. NVC Lighting said the acquisition will enhance the company's ability to develop or collaborate with online sales and distribution channels. Following the acquisition, the company will continue to expand its sales and distribution channels and benefit from the collection, analysis and application of consumer behavior-related big data.
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