Ch Display Opt Acquires HannStar Display (Nanjing) to Expand into Automotive Display Module Market
 
Dec 09, 2017
Category:

Enters into MOU with Wholly Owned Subsidiary of Prominent Taiwan-based Corporation, HannStar

(4 December 2017, Hong Kong) China Display Optoelectronics Technology Holdings Limited ("Ch Display Opt" or the "Company", together with its subsidiaries, the "Group"; HKSE stock code: 334) announced that the Company has entered into a MOU with Brightpro Resources Limited ("Brightpro Resources"), a wholly owned subsidiary of Taiwan-based prominent TFT-LCD products manufacturer HannStar Display Corporation Limited ("HannStar",6116.TPE), with regard to the Possible Acquisition of 51% to 81% interest in HannStar Display (Nanjing) Corporation ("HannStar Display (Nanjing)"). It is expected that the agreement with the exact percentage of interest to be acquired will be finalised within this month and the Possible Acquisition is targeted to be completed by the end of March 2018.

Upon the materialisation of the Possible Acquisition, the Company will be able to acquire a major stake in HannStar Display (Nanjing). In view of having Brightpro Resources remained as a minority shareholder of HannStar Display (Nanjing) after the Possible Acquisition, this also provides more opportunities for cooperation between the Group and HannStar, the mother company of Brightpro Resources.

Mr. LI Jian, Chief Executive Officer of Ch Display Opt, said, "The Possible Acquisition will allow the Group to increase its market share in the medium-sized LCD market and lay the foundation for expanding into the automotive display modules industry. The Board considers that it is in the interests of the Company and the shareholders as a whole, and if materialised, it can enhance our shareholders value."

HannStar Display (Nanjing), solely owned by Brightpro Resources, is principally engaged in the research and development and manufacturing of touch panels for TFT-LCD panel, display modules for tablet, laptop and automotive display. HannStar is a Taiwan listed company engaged in the manufacturing of all-screen TFT-LCD products, which are sold to leading electronics companies all over the world.

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About China Display Optoelectronics Technology (334.HK)
Headquartered in China, China Display Optoelectronics Technology Holdings Limited (HKSE stock code: 334) is one of the major providers of small-to-medium-sized display modules in the region. Ch Display Opt 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 Ch Display Opt are welcomed by domestic and overseas manufacturers with sales volume ranking among the top.

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