To expand its presence in the international market, Leyard Optoelectronic (Leyard) recently announced scaling up financing two subsidiaries to speed up business developments and management.
The company has injected an additional HK $50 million (US $6.45 million) to raise the Leyard (Hong Kong) registered capital to US $75 million, but the company has capped total investments at US $6.70 million. The Hong Kong arm is mainly involved in the sales of electronic displays and lighting products.
Financing at the Hong Kong arm will spur the company’s development in the local market and oversea markets to increase the company’s revenues. This particular move will strengthen the company’s sustainable development capabilities, and offer better services to meet client demands. The company will also be able to improve developments of current market and services, which will help the company’s long term development.
Additionally, the company plans to invest another RMB 50 million into a subsidiary in Beijing Leyard Electronics, which is focused on selling LED lights and displays, which will bring the arm’s total registered capital to RMB 60 million. The company cited speeding up business developments and expansion as the main reason behind the move.
Data from “Investor Relation Record” in the announcement revealed as of June 30, 2014, the company’s oversea orders soared 85 percent Year-on-Year to RMB 148 million. The company noted the oversea market was rapidly developing, and gave a positive overview of future developments. The company will continue to expand in Europe through its Slovakia subsidiary, and other subsidiaries located in India, North America, South America, and Asia Pacific to ensure stable growth.