Refond, TCL, Formosa Epitaxy to Form RMB 200 Mln LED JV

Shenzhen Stock Exchange, 7/16/13

Shenzhen-based LED products manufacturer Refond Optoelectronics (300241.SZ), Chinese consumer electronics manufacturer TCL Corporation (000100.SZ), and Yuxing Enterprise, a fully-owned subsidiary of Taiwanese LED chip manufacturer Formosa Epitaxy, will invest a total of RMB 200 mln to establish an LED products JV in Huizhou City, Guangdong, according to an announcement made by Refond.

TCL will invest RMB 102 mln for a 51% stake in the JV, to be named Huarui Optoelectronic Technology. Refond will invest RMB 50 mln for a 25% share, and Yuxing will invest RMB 48 mln for a 24% share in the JV.

Huarui Optoelectronic will primarily be engaged in the R&D, manufacture, and sales of LED components and LED application products, such as backlight and illumination modules.

Keywords: 300241.SZ Refond production facility Formosa Epitaxy television LED JV R&D TCL Corporation 000100.SZ hardware

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