TCL and other three companies denounced the establishment of a joint venture company LED 200 million

Last night, REFOND (300241.SZ) announcement revealed that in TCL group (000100.SZ), REFOND optoelectronics and Taiwan canyuan photoelectric "subsidiary" Yuxing enterprise "will jointly invested 200 million yuan to set up a joint venture of LED company in Guangdong city of Huizhou province Zhong Kai high tech development zone.

A new company called "Huarui photoelectric technology (Huizhou) Co., ltd.". Among them, TCL Group invested 102 million yuan, holding 51%; REFOND invested 50 million yuan, 25% shares; Yuxing enterprises invested 48 million yuan, 24% shares.

Canyuan photoelectricity is one of Taiwan's largest producers of LED chips, REFOND is LED package of well-known domestic enterprises, while the TV giant TCL has downstream channels and product resources.

According to the announcement last night, Huarui photoelectric main business: LED package, backlight module, lighting module and related products R & D, manufacturing, sales; related industries LED chip, package, application modules, application of investment products etc..

Ruifeng photoelectric said in the announcement, the company seeks to work through this cooperation in the market is huge, broad prospects for the development of LED lighting market and large size LCD backlight market accounted for the opportunity. TCL has rich channel resources in the LCD TV market and LED lighting market, the parent company of canyuan photoelectric Yuxing enterprise is a professional manufacturer of LED chip, and the TCL, Yuxing enterprise cooperation avails to play REFOND and TCL, Yuxing enterprise each has complementary resources and advantages, consolidate the company in large size LCD backlight and LED lighting industry status.

REFOND chairman Gong Weibin has said that in 2012 the penetration rate of LED lighting is 8%, 2013 will increase to 15% in 2014, will further increase to 40%. 2013, in 2014 the domestic LED market will explosive growth, Ruifeng optoelectronics will seek opportunities for cooperation with the upstream and downstream industry chain.