MLS to Rush Into Photovoltaic and Energy Storage Business With a New Subsidiary

PVTIME – MLS CO., LTD. (002745.SZ), a leading LED manufacturer, announced that it plans to cooperate with its subsidiary Shenzhen LEDVANCE to establish a holding subsidiary LEDVANCE New Energy Co., Ltd. (tentative name, subject to the final approval of the industrial and commercial sector) to start photovoltaic and energy storage business.

According to the announcement, the registered capital of the new company is 300 million yuan, of which 188 million yuan is subscribed by the company, accounting for 62.5%. In the future, the company will deploy the photovoltaic and energy storage business based on the development stage of the new company and the needs of the domestic and overseas markets.

MLS stated that the company will give full play to the advantages and influence of the LEDVANCE brand as the world’s top two international lighting brand to improve its new energy business in order to comply with the goal of “carbon neutrality and carbon peaking”.