Huaxun announced that Suning Appliance has agreed to entrust Huaxun Energy (a wholly-owned subsidiary of Huaxun) and China Putian (third party) to replace the existing lighting equipment installed in Suning Appliance's retail stores with LED lighting equipment for a minimum of 1,000. These retail stores offer energy-saving solutions. Huaxun Energy and China Putian will also install remote monitoring systems at these retail stores to enable Suning to monitor the use of all green energy-saving LED lighting equipment installed in these retail stores.
Suning Appliance agreed to save the majority of the electricity bills equivalent to the lighting equipment in the quarterly period from the date of installation and inspection of the lighting equipment to Huaxun Energy Savings and China Putian for a period of 60 months. The average usage of each green energy-saving LED lighting equipment installed in each retail store will not be less than 19,162.5 hours, and the estimated amount is about 150 million yuan.
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