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NVC Today For The Resumption Of 285 Million Yuan Provision For Impairment

Edit:OAK LED Co. Limited      Date:Apr 01, 2017

 Since last August 11 suspension of NVC has reached all the Resumption Conditions,stadium lights including handling violations and markets informed of its impact on the financial and operational condition of the Company; led stadium light and that the company has developed appropriate internal controls and financial reporting procedures systems to comply with its obligations under the Listing Rules; and to disclose the results of forensic examination and internal regulatory review and to address problems identified; and, if necessary, to cover an appropriate range of further investigation / review; and the market informed of all relevant information. backpfrontp which,high power led flood light on the handling of Wu Changjiang alleged conclude a pledge and security agreement and the license agreement, and in accordance with the so-called illegal freezing of funds and the withdrawal of the so-called agreement referred to the situation. In this connection, the company has dismissed Wu NVC Group in various positions, and no longer bears any responsibility, 1000W LED flood light lift each other to communicate legal proceedings against Wu, and three so-called 20-year licensing agreement with the like. backpfrontp on the maximum potential credit risk, the company has been in 2014 to 14 parts of the so-called pledge and security agreement,LED tunnel light together totaling 285 million yuan to mention provision. In addition, faced with potential losses include any money if you can not recover from Wu and Promise, about 265.5 million yuan loss; RGB LED flood light and if the claim in favor of CCB, China Construction Bank for NVC claims lead to approximately 6,000 ten thousand yuan loss plus interest. backp