TCL Tech invests in Shanshan Group restructuring for supply chain

TCL Technology Group Corp, through its subsidiary TCL Xiamen Industrial Investment Partnership (Limited Partnership), has been confirmed as a restructuring investor in Shanshan Group Co., Ltd. and its wholly-owned subsidiary Ningbo Pengze Trading Co., Ltd. This investment will see TCL Xiamen Industrial Investment Partnership acquire 43,700,900 shares of Ningbo Shanshan Co., Ltd. from Shanshan Group and Ningbo Pengze.

The acquisition, priced at 11.441411 yuan per share, totals approximately 499,999,957.97 yuan and represents a 1.94% stake in Ningbo Shanshan Co., Ltd.'s total share capital. The voting rights for these shares will be entrusted to the investor's shareholding platform. Ningbo Shanshan, a key supplier of polarizing film for TCL Technology's semiconductor display business, will benefit from this strategic investment.

This move aims to strengthen existing cooperation, enhance the stability of TCL Technology's production supply chain, and facilitate participation in upstream material research, development, and production processes. The restructuring involves a consortium of investors, including New Yangtze Trading, New Yangtze Shipping Investment, and China Orient Asset Management Co., Ltd. Shenzhen Branch, alongside TCL Xiamen Industrial Investment Partnership.