TCL Technology (000100.SZ) subsidiary plans to acquire 10.77% of Shenzhen Huaxing Semiconductor's shares for 6.045 billion yuan to further strengthen its main business

Zhitong Finance App News, TCL Technology (000100.SZ) announced that the company's holding subsidiary TCL Huaxing Optoelectronics Technology Co., Ltd. (“TCL Huaxing”) plans to purchase 10.7656% of the shares of Shenzhen Huaxing Optoelectronics Semiconductor Display Technology Co., Ltd. (“Shenzhen Huaxing Semiconductor”) held by Shenzhen Major Industry Development Phase I Fund Co., Ltd. with 6.045 billion yuan in cash. After the transaction is completed, the total shareholding ratio of Shenzhen Huaxing Semiconductor controlled by the company will increase from 84.2105% to 94.9761%. It is expected that the company's profit level will effectively increase.

The target company, Shenzhen Huaxing Semiconductor, focuses on the semiconductor display business. It has two of the world's highest-generation G11 display panel production lines, which are mainly engaged in the production, processing and sales of large-size TFT-LCD display devices. The main products are large-size TFT-LCD display devices and provide customized production services according to customer needs. The products are mainly used in televisions, commercial displays and other fields.

According to the announcement, the transaction is for TCL Huaxing, a subsidiary of the company, to acquire a minority stake in Shenzhen Huaxing Semiconductor, which will help the company further strengthen its main business and further enhance the company's core competitiveness in the semiconductor display industry.