New LED lighting manufacturing facility to revive local economy

Hong Kong – 26 May 2010 – Optiled Lighting International Ltd. (Optiled) today announced it has officially signed a partnership agreement with the Dujiangyan Municipal People’s Government of Sichuan Province in China to invest in a brand new LED lighting manufacturing facility. The new facility is expected to enhance the overall plan for rebuilding and optimizing resources in Dujiangyan city, and provide a healthier, greener lifestyle for local residents.

Since Dujiangyan city of Sichuan province, China was struck by the devastating Sichuan earthquake two years ago, the city has received overwhelming support from all across China. Thanks to strong, concerted public efforts, Dujiangyan city is now experiencing an economic revival, with dramatic improvements seen in the daily lives of local residents. The city has begun to establish itself as a new and modernized green city in China.

In an effort to reinforce the Dujiangyan earthquake post-disaster reconstruction plan initiated by the PRC Government and the Shanghai Municipal People’s Government, Optiled established a wholly owned subsidiary, Optiled (Shanghai) Lighting Equipment Co. Ltd. in 2009 and began conducting site studies with the Dujiangyan Municipal People’s Government in the following year. With staunch support from the Chengdu Municipal Government, Dujiangyan Municipal People’s Government, Shanghai-Dujiangyan Post-Disaster Reconstruction Headquarters and Optiled’s Hong Kong headquarters, Optiled eventually confirmed its intention to invest in a Dujiangyan-based facility for research and development (R&D), as well as manufacturing. On 24 May 2010, Optiled and Dujiangyan Municipal People’s Government officially signed a partnership agreement at a ceremony in Hong Kong to commemorate the second anniversary of the Sichuan Earthquake.

Initial investment for Optiled’s R&D and manufacturing facility in Dujiangyan will amount to RMB 100 million, with the new plant spanning up to 10,000 square meters and creating 800-1000 new jobs for various skilled workers. With an expected annual production of 400,000 units of LED lighting fixtures and lamps, this investment will create employment opportunities for and raise the GDP of Dujiangyan.

On 25 May, a total of 17 representatives from mainland China including mayor of Dujiangyan Municipal People’s Government, Mr. Xu Fuyi, director of People’s Government of Sichuan Province at Guangzhou Office, Mr. Jia Jiang, vice director of Chengdu Municipal Tourism Administration, Ms. Duo Yang and vice mayor of Dujiangyan Municipal People’s Government, Mr. Wang Qing conducted a site study at Optiled’s Hong Kong headquarters. “This is a greatly welcomed opportunity for us to work together with Optiled to develop a future that benefits all partners, the general public and society at large,” said the study team. “This partnership will contribute to better, greener and more harmonious living conditions for Dujiangyan city.”

The PRC government has in fact strongly advocated green lighting in recent years, as evidenced by its determination to push forward its plan to phase out incandescent light bulbs. Energy-saving lighting products, including LED lighting, have received strong support from the PRC Government. China is not only the epicenter of LED lighting products and manufacturing, but also a market with extremely strong potential. Given how much of China’s annual energy consumption is attributed to lighting, energy-efficient LED lighting replacements can bring about a dramatic increase in electricity savings and reduction in carbon dioxide emissions. LED lighting products not only improve economic efficiency, but also create a huge impact on environmental production.

“LED lighting shows huge potential for development in mainland China in the coming years. Through the investment in this manufacturing facility, we hope to help earthquake-stricken Dujiangyan city revive its local economy and shed more ‘environmentally friendly light’ on the city’s post-disaster reconstruction plan,” said Mr. Peter Chan, managing director of Optiled. “We hope to do our part as a corporate citizen by introducing high-quality LED interior and outdoor lighting products to China’s domestic western markets, so as to align with and contribute to the country’s plans for saving energy, reducing carbon emissions and developing a low-carbon economy.”

Managing director of Optiled Lighting International Ltd., Mr. Peter Chan (left) and mayor of Dujiangyan Municipal People’s Government, Mr. Xu Fuyi.

Study team members include Dujiangyan Committee of Chinese People’s Political Consultative Conference vice chairman and Dujiangyan Planning and Administrative Bureau director, Mr. Qu Jun (second from left), Chengdu Municipal Tourism Administration vice director, Ms. Duo Yang (third from left), Optiled Lighting International Ltd. managing director, Mr. Peter Chan (fourth from left), mayor of Dujiangyan Municipal People’s Government, Mr. Xu Fuyi (fifth from left), Optiled Lighting International Ltd. (China region) director, Mr. Jeff Chu (second from right) and vice mayor of Dujiangyan Municipal People’s Government, Mr. Wang Qing (first from right).