Zhejiang Sunshine announced today that the company intends to increase its capital with Zhejiang Sunshine Lighting Co., Ltd. in accordance with the equity of 75%: 25%. The total amount of capital increase is 120 million yuan, of which the company invested 90 million yuan and Philips invested 30 million yuan. yuan. The announcement said that the capital increase will be used for the lighting company to expand the production capacity of integrated electronic energy-saving lamps. It plans to reach the capacity of 200 million integrated electronic energy-saving lamps by the end of 2011. After the expansion, the lighting company's sales revenue will reach 13 100 million yuan, the new profit is about 20 million yuan.
Zhejiang Sunshine Lighting Co., Ltd. was formally established on March 21, 2001 with a registered capital of 60 million yuan. The business scope is to produce and sell lighting products and components. The company is a Sino-foreign joint venture, the company holds 75% of its equity, and Philips (China) Investment Co., Ltd. holds 25% of its equity. At present, the total assets are 180.5572 million yuan, and the shareholders' equity is 84.345 million yuan. The main business income from January to September 2007 was 277.6682 million yuan, and the net profit was 2,598,800 yuan. As its current production capacity cannot meet the demand, it is planned to increase its production capacity by increasing its capital.
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