Sanan’s actions are non-stop and its subsidiaries sign major contracts

San'an Optoelectronics announced on the evening of the 20th that the company's wholly-owned subsidiary Wuhu Anrui Optoelectronics Co., Ltd. (hereinafter referred to as "Anrui Optoelectronics") signed a "Cooperation Framework Agreement" with BAIC Yinxiang Automobile Co., Ltd. (hereinafter referred to as "BAIC Yinxiang") on July 17, 2015. The agreement stipulates: Anrui Optoelectronics will set up a branch in Chongqing to provide supporting services for BAIC Yinxiang and produce automotive lamps and LED products for automotive applications (including automotive lighting, signal lights, interior lights, decorative lights, electronic instrument applications, GPS /DVD monitors, etc.), if the projects supplied by Anrui Optoelectronics to BAIC Yinxiang are supported by two or more suppliers, (under the premise that Anrui Optoelectronics guarantees quality, delivery time and price), BAIC Yinxiang promises that Anrui Optoelectronics' supporting share will not be less than 70%.

It is reported that BAIC Yinxiang was founded in August 2010. It is a joint venture between BAIC Motor Group, one of China's five largest automobile groups, and Chongqing Yinxiang Industrial Group, one of the top 50 industrial enterprises in Chongqing. As a holding subsidiary of BAIC Group, it strives to build BAIC Group's southwest base and external export platform in Hechuan District, Chongqing City. It has stamping, welding, painting, final assembly and engine production lines with independent intellectual property rights, forming a complete and independent automobile manufacturing system. The level of process and tooling has reached the international advanced level and the domestic first-class level, and it has strong industrialization advantages.

Anrui Optoelectronics Company is mainly engaged in automotive lamps and LED packaging and applications. Sanan Optoelectronics said that this cooperation has further opened up the application channels for Anrui Optoelectronics products, which will help accelerate business development, enhance the company's core competitiveness, and lay the foundation for subsequent business development.