Zhejiang Sunshine plans to invest about 800 million yuan to build a light source project in Zhangzhou


Zhejiang Sunshine plans to launch a new LED light source project at the Zhangzhou base in Fujian next year. It is expected to invest 700-800 million yuan in a joint venture and is currently negotiating intellectual property issues with Phillips. If it is successful, Zhejiang Sunshine will raise about 500 million yuan for the additional issuance of this project next year. The project is expected to reach production in 2011 and generate benefits.

At present, the most recognized LED concept stock in the market is Sanan Optoelectronics. The company has just completed the directional issuance of 26 yuan/share more than a month ago. The LEDs involved are mainly for display and decoration; while the LED project of Zhejiang Sunshine is based on lighting and technology. The threshold is higher and will be used for the replacement of urban street lamps, and the market prospect is broad. Recently, a number of institutional investors have visited the company.

The profit of Zhejiang Sunshine traditional business energy-saving lamps in 2009 has increased by more than 20% compared with 2008. It is estimated that the earnings per share in 2009 will be 0.5 yuan, and it is expected to increase by about 30% in 2010. The company's energy-saving lamp production capacity surpassed Foshan Lighting for three consecutive years, becoming China's largest energy-saving lamp manufacturer, and also became the first place in the national financial subsidy efficient lighting product promotion task for two consecutive years. This year's task volume is 11.9 million, and it is estimated that the actual execution volume will exceed this figure.


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