In the early morning of March 14, Guangdong Snowlight Optoelectronics Technology Co., Ltd. (hereinafter referred to as "Shellet") announced that it will further develop and promote automotive intelligent electronic products and enhance market competition in order to further develop automotive lighting applications in the vehicle market. In order to achieve better economic benefits and return on investment, the company approved the approval of the chairman of the board, and the company established a joint venture with natural person Li Yanxia to establish Foshan Xuelaite Automobile Intelligent Electronics Co., Ltd. (hereinafter referred to as the new company). According to the announcement, the registered capital of the new company is RMB 1 million, of which the company invested RMB 510,000 in currency, accounting for 51 shares of the new company. The natural person Li Yanxia contributed RMB 490,000 in currency, accounting for 49 shares of the new company. On March 12, 2015, the company signed a "Joint Agreement on Automotive Intelligent Electronic Projects" with natural person Li Yanxia. Snow Wright said that the new company is mainly responsible for selling the company's automotive lighting products in China, which will form synergies with the company's existing automotive lighting business, accelerate the strategic layout of the company's automotive lighting applications in the vehicle field, and further enhance the brand strength and Sales scale. At the same time, we will gradually develop and promote automotive intelligent electronic products to improve the company's profitability.
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