Xiamen Xindeco,Ltd announced that encouraged by favorable conditions offered by Anxi County government to support the company’s development in Fujian Quanzhou(Hutou)Optoelectronic Park, the company’s subsidiary Xiamen Xindeco Optoelectronics Co. , Ltd. (abbr. Xindeco Optoelectronics ) has planned to invest in the construction of LED packaging and application product project in this industry park. A corresponding agreement will be signed between Xindeco Optoelectronics and Anxi County government.

With a total investment of about 500 million yuan and the floor space of around 300 mu (200, 000.01 square meters), this project will be run by Xindeco Optoelectronics’ wholly owned subsidiary of Fujian Province Xindeco Optoelectronics which will fund the project with both of self-raised capital and bank loan. The construction period set to be 2 years and annual output targets around 500 million yuan.

According to the agreement, Fujian Province’s Anxi County government will grant a series of preferential supportive measures, mainly including offering of 60 million yuan subsidy before January 15^th, 2013 and favorable measures in terms of technology R&D and advanced talents, in addition to tax preference in compliance with national regulation.

The company also announced that its subsidiary Xiamen Xindeco Real Estate Development Co.,Ltd. offers for sale of 42% equity of Hengyang Xinxinghe Real Estate Development Co.,Ltd. and the listed price is no less than 67.9004 million yuan. Xiamen Xindeco said that coupled with macro-control policy and the company’s operation strategy, the equity transfer offer will help the company withdraw capital, improve capital utilization efficiency, concentrate resource to develop core business and raise the company’s core competitiveness.