Dec 26, 2016: China Development Bank (CDB) has signed a strategic partnership with Chinese LED company San’an Opto group to boost its global sales.
Under the agreement, San’an Opto and CDB will strengthen their partnerships in project loans, merger and acquisition loans, and repayment applications. The two organizations will also explore new business models, and new strategies for a dual-win.
CDB will support San’an Opto with US $8.63 billion (RMB 30 billion). It will also set up mid-term loans, industry funds, special construction funds and others funds to support LED chip, IC electric circuits, and oversea acquisitions and production capacity expansions.
The deal was signed by San’an Opto Chairman Xiucheng Lin and CDB general manager Xiamen branch Yang Aiwu.
CDB had been supporting San’an Opto since 2012. CDB had invested RMB 6.4 billion in a national IC industry fund. In 2016, San’an Opto had also signed an agreement with Qiangzhou City Government and established a LED chip investment fund worth RMB 50 billion. It has also signed a partnership deal with Indonesia’s largest financial group Sinar Mas Group, and became one of its leading LED product suppliers.