Hongli Optoelectronics 93.37 million pre-winning Guangzhou LED street light renovation project

On the afternoon of November 26, Hongli Optoelectronics (300219) announced that on November 25th, Guangzhou Construction Engineering Trading Center released the bid for the sixth and seventh bidding sections of the “Guangzhou Downtown Urban Street Light Energy Reconstruction Service Project”. The candidate publicizes and determines the company as the lead person for the first bid winner of the sixth and seventh bidding sections of the “Guangzhou downtown urban streetlight energy-saving renovation service project”.

It is reported that the project aims to promote the application of LED lighting products, using contract energy management (EMC) to undertake, energy-saving renovation service period is 8 years, energy-saving income owners share 15%, winning bidders share 85%. The estimated energy saving income of the project is about 49.9 million yuan in the sixth bidding section and about 43.48 million yuan in the seventh bidding section, which is about 93.37 million yuan, accounting for 17.62% of the company's audited consolidated accounting statements in 2012.

Hongli Optoelectronics said that the total amount of energy-saving income expected from the successful bidding project was RMB 93.37 million, accounting for 17.62% of the company's 2012 audited consolidated financial statements. The project will confirm the proceeds with reference to the financing lease model, and will ultimately be based on the contents of the signed contract terms, which will be subject to the audit results of the accountants. The performance of the project will not have a direct impact on the company's 2013 operating results and will have a positive impact on the company's future operating results.

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