Dow Jones received a payment from EQS/DGAP to publish this press release.
EQS-News / 04/12/2017 / 20:12 UTC+8
*For Immediate Release*
*Ch Display Opt Acquires HannStar Display (Nanjing) to
Expand into Automotive Display Module Market*
** * * * * *
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.
-End-
*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.
Document: http://n.eqs.com/c/fncls.ssp?u=IVJOXUBMOC [1]
Document title: CDOT(334)_Possible Acquisition_Press Release_Eng.pdf
04/12/2017 Dissemination of a Financial Press Release, transmitted by EQS
Group.
The issuer is solely responsible for the content of this announcement.
Media archive at www.todayir.com
1: http://public-cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=a54f946a5f9bf5d7dfc52c1a332fc573&application_id=635111&site_id=vwd&application_name=news
(END) Dow Jones Newswires
December 04, 2017 07:13 ET (12:13 GMT)
© 2017 Dow Jones News
