Huacan intends to 5 million 300 thousand yuan investment to set up a joint venture company, to expand the overseas market for flip chip

Yesterday (11) evening, HC semitek announcement, a wholly owned subsidiary of HC Semitek Limited, Company Max and Semiconlight Ltd. to Aplha Technology Limited signed a "joint venture agreement" (hereinafter referred to as the "agreement") to jointly set up a company registered in the Hongkong Special Administrative Region of the joint venture company (hereinafter referred to as the "new a company"), capital of $2 million 150 thousand (equivalent to approximately RMB 14 million 230 thousand yuan). The company is a wholly owned subsidiary of HC Semitek Limited intends to cash invested 800 thousand U.S. dollars (about 5 million 300 thousand yuan), accounting for 37.21% of the total share capital. According to the announcement, the new company will sell the main product of flip chip LED epitaxial wafer and chip LED (specific to the registration approval shall prevail).

The new company ownership structure

Data show that the Semiconlight company Ltd. in 2007 and incorporated in South Korea, the main business scope of manufacturing LED wafer and LED chip production. HC Semitek Limited was founded in 2014, registered in Hongkong, is a wholly owned subsidiary of HC semitek. In addition, Max Aplha Technology Limited registered in the British Virgin Islands, the business of the company for investment.

HC semitek said the foreign investment is to further expand the company's products for flip chip LED epitaxial wafer and chip of LED overseas sales market, improve the company's international market share. If the investment successfully implemented, will have a positive impact on the company's future operating results.

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