BOE launches acquisition plan of over RMB12 billion
2020-09-24 11:43:52 [Print]
On the evening of 23 September, BOE announced its 10-billion acquisition plan for raising panel market occupancy.
According to the announcement, BOE plans to acquire Nanjing CEC Panda FPD Technology Co., Ltd. (Nanjing G8.5 Company) and Chengdu CEC Panda Display Technology Co., Ltd. (Chengdu G8.6 Company) with its own capital and external investment. In particular, BOE plans to acquire 80.831% equities of Nanjing G8.5 Company at a price not lower than the listing price of RMB5.591 billion (USD0.82 billion) and acquire 51% equities of Chengdu G8.6 Company at a price not lower than the evaluated price of RMB6.526 billion (USD0.96 billion). After the acquisition is completed, BOE will be the actual controller of Nanjing G8.5 Company and Chengdu G8.6 Company and be in charge of day-to-day operation.
Founded on 21 November, 2012 with a registered capital of RMB17.5 billion (USD2.57 billion), Nanjing G8.5 Company is a Sino-foreign joint venture with a designed monthly production capacity of 60,000 pieces of glass substrate. Going into mass production in August, 2015, the company mainly produces glass substrate of 2200mm×2500mm.
Founded on 7 December, 2015 with a registered capital of RMB14 billion (USD2.05 billion), Chengdu G8.6 Company with a designed monthly production capacity of 120,000 pieces of glass substrate went into mass production in May 2018 and mainly produces TV displays of 23.8-70 inches.
According to the announcement, BOE plans to acquire Nanjing CEC Panda FPD Technology Co., Ltd. (Nanjing G8.5 Company) and Chengdu CEC Panda Display Technology Co., Ltd. (Chengdu G8.6 Company) with its own capital and external investment. In particular, BOE plans to acquire 80.831% equities of Nanjing G8.5 Company at a price not lower than the listing price of RMB5.591 billion (USD0.82 billion) and acquire 51% equities of Chengdu G8.6 Company at a price not lower than the evaluated price of RMB6.526 billion (USD0.96 billion). After the acquisition is completed, BOE will be the actual controller of Nanjing G8.5 Company and Chengdu G8.6 Company and be in charge of day-to-day operation.
Founded on 21 November, 2012 with a registered capital of RMB17.5 billion (USD2.57 billion), Nanjing G8.5 Company is a Sino-foreign joint venture with a designed monthly production capacity of 60,000 pieces of glass substrate. Going into mass production in August, 2015, the company mainly produces glass substrate of 2200mm×2500mm.
Founded on 7 December, 2015 with a registered capital of RMB14 billion (USD2.05 billion), Chengdu G8.6 Company with a designed monthly production capacity of 120,000 pieces of glass substrate went into mass production in May 2018 and mainly produces TV displays of 23.8-70 inches.
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