Date
19 November 2017

Tsinghua Tongfang unit snaps up Neo-Neon, paper says

Tsinghua Tongfang Co. Ltd. (600100.CN) said Monday that its overseas subsidiary, THTF Energy-Saving Holding Ltd. has taken a 51.6 percent stake in Neo-Neon Holdings Ltd. (01868.HK) for about 700 million yuan (US$115.73 million), giving it control of the company, China Securities Journal reported Tuesday. Neo-Neon may become a platform for Tsinghua Tongfang’s LED business in the future, unnamed industry sources were quoted as saying. Neo-Neon reported a net loss of HK$150.5 million for the six months to September 2013 compared with a net profit of HK$5.5 million in the previous year, it said in a stock exchange filing.

– Contact HKEJ at [email protected]

EL/AC/RA

 

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