Sanan Optoelectronics recently held a board meeting, and the main points of the resolution passed are:
1. The company agreed to increase its capital by the wholly-owned subsidiary Anhui Sanan Optoelectronics Co., Ltd. with its own cash of RMB 250 million to increase its registered capital to RMB 300 million. It is understood that the registered capital of Anhui Sanan Optoelectronics, a wholly-owned subsidiary, is RMB 50 million, and it is still in the early stage of construction.
2. Agree that Anhui Sanan Company will order 40 major MOCVD production equipments from Veeco, and ensure that the two parties agree to deliver the products within 2010.
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