TCL group jointly invested 46 billion 500 million yuan to build the eleventh generation LCD panel line

TCL group August 29th evening announcement, to promote the development of the display industry in Southern China LCD company, Huaxing Power, Shenzhen Municipal Economic Information Commission three party plans in Shenzhen Guangming New District jointly invest in the construction of the eleventh generation TFT-LCD and AMOLED new display production line project, and set up the G11 item company, the project plans a total investment of about 46 billion 500 million yuan.

Announcements, G11 item company registered capital of 28 billion yuan, of which Huaxing Power invested $11 billion 400 million. In addition, Huaxing Power and TCL group jointly responsible for the financing of bank loans 18 billion 500 million yuan. According to the plan, the project will be in July 2019 to achieve mass production, production 43, 65, (21:9), 75 LCD screen, ultra large public display and OLED display.

TCL group, said the company has established a leading edge in the field of LCD panel business, but in 65 inches and other large size LCD panel has not yet been layout. In recent years, LCD TV has been toward a larger size, higher resolution direction, Huaxing Power 11 generation line once completed, the company will be more abundant in the portfolio of large size LCD TV panel, will enhance overall competitiveness of the company's LCD panel business.

However, due to the first half of 2016, the price of LCD panels and a larger difference over the same period last year, Huaxing net profit fell 54.9%, resulting in a net profit fell during the reporting period.

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