Overweight supply side reforms, red intends to invest 130 million to set up a joint venture of two

Red January 19th evening announcement, to be invested 100 million yuan, accounting for 10%, and the Inner Mongolia land resources storage investment limited liability company jointly set up Inner Mongolia jinau Photoelectric Technology Co., Ltd.; at the same time, invested 30 million yuan, accounting for 30%, and the Hubei pagoda Technology Co. Ltd. Co investment in the establishment of the Hubei pagoda Photoelectric Technology Co. ltd..

According to red introduction, the establishment of the joint venture in Inner Mongolia is to give full play to the company in the sapphire crystal growth and processing aspects of research ability and technical ability, ability and the ability of equipment manufacturing industry, with partners in resource reserves, capital strength, preferential price of energy (such as electricity) has the obvious advantages. The purpose of the establishment of the joint venture company in Hubei is to promote the rise of central China and the Yangtze River Economic Development Zone by the state policy and market opportunities, the partners and the photoelectric science and Technology Industrial Park, the pagoda is located in the land, labor and the regional advantages Chinese central, need combined with the company's own overall strategic planning and business development.

According to the announcement, the company plans to invest in Inner Mongolia sapphire single crystal furnace 5000 units, all from the company procurement. Phase of the project, including the completion of an investment of 2000 units, the first phase of the project implementation time for January 2016 -2016 years in November 30th, the subsequent progress of investment in accordance with market changes and implementation. The company said, with the help of external resources to the supply side of sapphire industry chain layout and integration, which is conducive to enhancing the company's global sapphire industry's influence and competitiveness, accelerate the pace of large-scale application of sapphire material in consumer electronic products, to further enhance the profitability of listed companies.

The scope of operation of the company's Hubei, including sapphire products, 3D glass, ceramics, LED lighting and other products. Red said, this can give full play to the company on sapphire and related photoelectric materials, LED lighting industry chain of cohesion, appeal and innovation, focus on the development of mobile phone, automobile, industrial equipment and other products with sapphire and other emerging materials, devices, LED lighting module industry industry, synergies, will provide support for the large-scale industry the application of new materials such as sapphire in consumer electronics and automotive equipment, industrial products, to actively promote the sapphire new materials and related industries and the development of the company.

For more information about LED, please click on China LED network or pay attention to WeChat public account (cnledw2013).