HC SemiTek Plans RMB 970 Million High-End Display Project, Sets Up RMB 700 Million JV in Suzhou

HC SemiTek said it plans to sign an investment agreement with the administrative committee of Zhangjiagang Economic and Technological Development Zone to build a “new high-end display project” with total planned investment of about RMB 970 million, according to 36Kr. The company also plans to establish a joint venture with Yuefeng Kechuang, Suzhou BOE Jingxin Technology Co., Ltd., with registered capital of RMB 700 million; HC SemiTek will contribute RMB 490 million for a 70% stake, while Yuefeng Kechuang will contribute RMB 210 million for a 30% stake. The company said the investment does not constitute a related-party transaction or a major asset restructuring.