The investment transaction between Foshan NationStar Optoelectronics Joint Stock Company (“NationStar”, stock code: 002449) and Raysent Technologies, Inc (“Raysent”), a US high-tech company, has recently achieved a successful initial closing. This overseas investment is a key step for NationStar to speed up its process of internationalization and implement its innovation strategy.

Nationstar, subordinate to Guangdong Rising Assets Management co., ltd, is a key high-tech enterprise of China National Torch Plan focusing on the research, development, production and sales of LED and relative application products. Founded in 1969, NationStar is one of the first companies engaged in the production of LED. Through this investment, NationStar has become the controlling shareholder of Raysent and is licensed to use Raysent’s unique intellectual property of GaN-on-Si Vertical-Structure LED technology. This technology will substantially reduce the cost of production of LED chip and enhance its yield and stability, therefore achieving mass production and better product performance at a low cost in a short time.

Global Law Office acted as the PRC legal counsel to NationStar and assisted NationStar in legal works including drafting transaction documents and negotiating investment terms, as well as completing PRC governmental approval and record-filing procedures. The project team of Global Law Office was led by partners Liu Jinrong and Guo Shifang. Associate Chen Lei provided assistance as well.