China's leading small and medium-sized display module supplier TCL Display Technology Holdings Limited ("TCL Display" or "Group"; Hong Kong Stock Exchange stock code: 334) announced that TCL Huizhou as an indirect wholly-owned subsidiary of the Group in 2016 On October 24, a joint venture agreement with Wuhan Huaxing Optoelectronics was entered into. The two parties agreed to inject a total of RMB 499,000 million to increase the registered capital of the joint venture to RMB 500 million. After the joint venture is approved and established by relevant Chinese authorities, TCL Huizhou and Wuhan Huaxing Optoelectronics will own 70% and 30% of the equity of the joint venture, respectively. The business scope of the joint venture will be the development, production and sale of LTPS LCD modules and related accessories for use in mobile phones and tablet computers, as well as technology and product import and export trade.

The Group and Wuhan Huaxing Optoelectronics form a joint venture, which symbolizes its close cooperative relationship with upstream panel companies and helps the Group continue to expand its customer base; in view of this, the Board of Directors recommended that the group be renamed "China Display Optoelectronics Technology Holdings Limited", and Adopted the new Chinese name "Hua Xian Optoelectronics Technology Holdings Limited". The new name will highlight the advantages that the joint venture brings to the group and the new corporate image to attract more potential customers in the market. The name change proposal is to be approved at the upcoming special general meeting.

Mr. Li Jian, Chief Executive Officer of TCL Display, said: "In recent years, the market ’s increasing demand for high-end smart terminal products has increased the demand for high-end LTPS LCD modules, and the unit price of high-end LTPS LCD modules is generally higher than other LCD module products We believe that the joint venture agreement can create golden opportunities, and cooperate with Wuhan Huaxing Optoelectronics ’resources and expertise in the production of LTPS LCD panels, so that the Group can better grasp the high-end market potential, stimulate business growth, and expand the Group ’s market share in the industry. Companies and shareholders create greater profits and value. "

For the proposed group to change the company name, Mr. Li added: "As the original design manufacturer of the LCD module, the new company name will establish a new corporate image for the group and reflect its corporate nature more accurately. In addition, the new name will also highlight The advantages brought by the joint venture to the group bring more business opportunities to the group. "

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