Shenzhen Sunnypol Optoelectronics (002876.SZ) announced on September 13th that, on May 4th, 2023, the company signed an investment contract for the production line project of optical film for LCD display and polymer with the People's Government of Guangshui City. Due to the project not starting on schedule, the contract has now automatically terminated according to the agreement.
In order to continue promoting the production line project of optical film for LCD display and polymer in Guangshui City, optimize resource allocation, and leverage the advantages of all parties, the company convened the sixth meeting of the fifth board of directors and the fifth meeting of the fifth board of supervisors on September 13, 2024. They reviewed and approved the proposal on jointly investing with related parties to establish a joint-stock company and engage in related transactions. They agreed that the company, together with Shenzhen Sunnypol Optoelectronics (referred to as 'Shenzhen Sunnypol') and Huang Zhihua, would invest in the establishment of Hubei Guanglifeng New Materials Co., Ltd. (tentative name, subject to approval and registration by the market supervision and administration department, referred to as 'Hubei Guanglifeng') and Hubei Sunnypol Optoelectronic New Materials Co., Ltd. (tentative name, subject to approval and registration by the market supervision and administration department, referred to as 'Hubei Sunnypol').
The registered capital of Hubei Guanglifeng is 4 million yuan, of which the company contributed 0.4 million yuan in monetary funds, accounting for 10% of the total investment; Shenzhen Sunnypol Optoelectronics contributed 3.4 million yuan in monetary funds, accounting for 85% of the total investment; Huang Zhihua contributed 0.2 million yuan in monetary funds, accounting for 5% of the total investment. The registered capital of Hubei Sunnypol is 6 million yuan, of which the company contributed 0.6 million yuan in monetary funds, accounting for 10% of the total investment; Shenzhen Sunnypol Optoelectronics contributed 5.1 million yuan in monetary funds, accounting for 85% of the total investment; Huang Zhihua contributed 0.3 million yuan in monetary funds, accounting for 5% of the total investment. Hubei Guanglifeng and Hubei Sunnypol are the intended investment entities for the production line project of optical film for LCD display and polymer.
