EQS-News / 24/10/2016 / 23:16 UTC+8

TCL Display Entered into a Joint Venture Agreement with Wuhan CSOT and
Proposed Change of Company Name from 
TCL Display to China Display Optoelectronics Technology (CDOT) * * * * *
Seizes Potential in High-End Market to Enlarge Industry Market Share
(24 October 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 on 24 October 2016, TCL Huizhou, an indirect wholly-owned subsidiary of the Group, entered into the Joint Venture Agreement with Wuhan CSOT. The parties agreed to contribute RMB499 million in aggregate to increase the registered capital of the Joint Venture to RMB500 million. 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.
The formation of Joint Venture with Wuhan CSOT represents the close cooperation between the Group and upstream LCD panel corporations which faciliates the sustainable expansion of the Group's client base. In consideration of the above, the Board proposed the change of the Group's name to "China Display Optoelectronics Technology Holdings Limited" and the adoption of a new Chinese name "華顯光電技術控股有限公司". The new name will emphasise the advantages brought by the Joint Venture and the Group's new corporate image, captivating more potential clients in the market. A special general meeting will be held to approve the proposed change of the name of the company.

Mr. LI Jian, Chief Executive Officer of TCL Display, expressed, "In recent years, the demand for high-end smart devices products has been increasing, resulting in a continuous growth of demand for high-end LTPS LCD modules. Coupled with the generally higher unit price of LTPS LCD modules compared to other LCD module products, we believe the Joint Venture Agreement represents a prime opportunity, alongside the resources and expertise of Wuhan CSOT in LTPS LCD panel production, allowing the Group to seize the potential in the high-end market to enhance business growth and enlarge the Group's market share in the industry, thereby generating greater profits and values for the Group and its shareholders."

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Concerning the change of company name, Mr. LI added, "As an original design manufacturer of LCD modules, the new name will provide the Group with a new corporate image and reflect its business nature more accurately. In addition, the new name also emphasises the advantages brought by the Joint Venture, attracting more business opportunities."

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About TCL Display Technology Holdings Limited (SEHK: 334) Headquartered in China, TCL Display Technology Holdings Limited 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.
About Wuhan China Star Optoelectronics Technology Company Limited Wuhan CSOT is established on 20 May 2014. Wuhan CSOT is principally engaged in the production of the 6th generation LTPS (Oxide) LCD / AMOLED panels, providing high-end small and medium-sized display panels for mobile device products. In 2015, Wuhan CSOT has filed 1,423 patent applications and is one of the leading corporations in Hubei Province in terms of the number of invention patent filed. The company is jointly owned by Shenzhen CSOT which is a subsidiary of TCL Corporation, Hubei Science & Technology Investment Group Co., Ltd. and China Development Fund Co., Ltd.
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 
Email: tcl.display@cornerstonescom.com

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Document: http://n.eqs.com/c/fncls.ssp?u=KJRHYYCCOG Document title: TCL_Display_334_Joint_Venture_Agreement_Eng

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24/10/2016 Dissemination of a Press Release, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.
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