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Li Xuliang did not directly hold Qinshang Optoelectronics shares, but indirectly held a 24.25% stake in the company by holding 90% of the shares of Qinshang Group, and was the actual controller of the company with Ms. Wen Qi.
The company believes that there is still huge room for development in the future of the LED industry. On the one hand, the funds raised will expand the scale of the company's business, gain scale effect and brand influence; on the other hand, it can expand the EMC business. The EMC model is an emerging business model in the domestic lighting field in recent years, but the demand for the previous funds is large; At the same time, the development of a nationwide network of terminal retail stores can improve the company's layout in the indoor lighting market.
In addition, the company said that through this fundraising, it will seize the opportunity of the LED industry reshuffle, and timely carry out equity acquisition or merger and reorganization in the same industry to further enhance and consolidate the company's competitiveness in the field of LED terminal applications. 
The actual controllers of Qinshang Optoelectronics will expand and expand the EMC business.
Qinshang Optoelectronics released a non-public offering plan on the evening of the 14th. The company plans to issue 40.33 million shares at a price of 12.3 yuan per share, raising 496 million yuan to supplement the company's working capital. The company's actual controller Li Xuliang subscribed for all shares. The company said that the funds raised will help the company expand its EMC business, develop a nationwide terminal retail store network, and conduct equity acquisitions or mergers and acquisitions.