TCL officially announced its plans to acquire RMB 39.95% of Wuhan Huaxing for 4.22 billion yuan tcl technology - Hut Mobile

TCL officially announced its plans to acquire RMB 39.95% of Wuhan Huaxing for 4.22 billion yuan tcl technology

TCL officially announced its plans to acquire RMB 39.95% of Wuhan Huaxing for 4.22 billion yuan tcl technology

On May 29, TCL Technology Group announced that it planned to purchase a 39.95% stake in Wuhan Huaxing Optoelectronics Technology Co., Ltd. held by Wuhan Optics Valley Industrial Investment Co., Ltd. It is understood that TCL Technology Group plans to issue shares, convertible bonds and cash payment methods to Wuhan Investment and Investment to purchase its equity holdings at a price of 4.217 billion yuan.

At the same time, TCL intends to issue shares and convertible bonds to Hengku Investment, Henghui Investment and the Pearl River Delta Optimization Development Fund to raise matching funds of no more than 2.6 billion yuan. The funds will be used to pay cash consideration for this transaction, repay debts of listed companies and supplement Working capital.

According to public information, Wuhan Huaxing is the TCL Huaxing t3 project. Its current production capacity is 50K / month, and its product ranks second in the world with 19% market share. It is the world’s largest LTPS monomer factory. In addition, in the smart phone market, the Huaxing t3 project basically covers mainstream manufacturers, accounting for 80% of the shipments of first-line mobile phone brand customers. At the same time, TCL Huaxing is accelerating the layout of LTPS products in the fields of automobiles, laptops, and tablets.

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TCL officially announced its plans to acquire RMB 39.95% of Wuhan Huaxing for 4.22 billion yuan tcl technology
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