(30 December 2016, Hong Kong) - TCL Display Technology Holdings Limited ("TCL Display" or the "Group"; HKSE stock code: 334), the leading provider of small-to-medium-sized display modules in China, announced that the Joint Venture Agreement which TCL Huizhou, an indirect wholly-owned subsidiary of the Group, and Wuhan CSOT entered into on 24 October 2016 has been approved on the Special General Meeting. Upon the establishment of the Joint Venture, which is subject to the approval of the relevant PRC authorities, the Joint Venture will be owned as to 70% by TCL Huizhou and 30% by Wuhan CSOT. The business scope of the Joint Venture shall be the development, production and sale of LTPS LCD modules and related auxiliary products for mobile phones and tablets; as well as the import and export trading of technology and products.
To emphasise the advantages brought by the Joint Venture and the Group's new corporate image, the Group's name will be changed from "TCL Display Technology Holdings Limited TCL顯示科技控股有限公司" to "China Display Optoelectronics Technology Holdings Limited 華顯光電技術控股有限公司", and will become effective from the date of entry of the new name on the register by the Registrar of Companies in Bermuda. Trading of the shares of the Group on the Stock Exchange under the stock short name "TCL DISPLAY" in English and "TCL顯示" in Chinese will be changed to "CHINA DISPLAY" in English and "華顯光電" in Chinese. The stock code of the Company remains as "334".
Mr. LI Jian, Chief Executive Officer of TCL Display, expressed, "As customers of smart device are now demanding for higher-end quality products, the market demand for the higher-end LTPS LCD modules has been growing rapidly in recent years. The Group sees opportunities in this market and form the Joint Venture with Wuhan CSOT, to further expand the Group's LTPS LCD modules production scale, thereby generating greater values for the Group and its shareholders. New company name can emphasis the advantages brought by the Joint Venture, and establish a new corporate image for the Group."
- End -
About TCL Display Technology Holdings Limited (SEHK: 334)
Headquartered in China, TCL Display Technology Holdings Limited (the Group's name will change to 'China Display Optoelectronics Technology Holdings Limited'; stock code: 0334) is one of the major providers of small-to-medium-sized display modules (<=10.1") in the region. TCL Display engaged primarily in the research and development, manufacturing, sales and distribution of LCD modules mainly for handheld mobile devices on an ODM basis. Smartphone LCD module products of TCL Display are welcomed by domestic and overseas manufacturers with sales volume ranking among the top.
For more information, please visit its website at www.tcldisplay.com.
Issued by Cornerstones Communications Ltd. on behalf of TCL Display Technology Holdings Limited. For further information, please contact:
Cornerstones Communications Limited
Wendy Lau / Edward Siu / Sharon Kwok
Tel: (852) 2903 9286 / 2903 9299 / 2903 9288
- ASIA TODAY News Global Distribution http://www.AsiaToday.com