Expanding LTPS LCD Module Production to Generate Greater Profit Contribution
(3 June 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 the Group will issue a maximum of approximately 258 million placing shares at a placing price of HK$0.62 per share, which represents approximately 15.00% of the existing issued shares and approximately 13.04% of the issued shares as enlarged. The maximum net proceeds from the placing will be approximately HK$156.5 million, among which approximately HK$150 million is intended to be used for the expansion of the Group's LTPS LCD module production scale, and approximately HK$6.5 million as general working capital of the Group. Upon the completion of the placing, none of the placees will become a substantial shareholder of the Group.
Mr. LI Jian, Chief Executive Officer of TCL Display, expressed, "In view of the growing demand for the higher-end LTPS LCD modules in the market, expansion of the Group's production lines using the gross proceeds from the placing not only could raise its market share and generate greater profits, but also strengthen the Group's financial position and broaden its shareholders base, that inject new impetus for future business developments."
The Group has manufacturing plant in Huizhou, the Mainland China, which covers a total gross floor area of over 44,000 sq. m. Together with the Group's professional team and the expanding production lines, the Group will be providing even more excellent products to global customers.
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About TCL Display
Headquartered in China, TCL Display Technology Holdings Limited (HKSE stock code: 334) 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.
Issued by Cornerstones Communications Ltd. on behalf of TCL Display Technology Holdings Limited. For further information, please contact:
Cornerstones Communications Limited
Sam Choi / Wendy Lau / Edward Siu
Tel: (852) 2903 9289 / 2903 9286 / 2903 9299
Email: tcl.display@cornerstonescom.com