Sanan Optoelectronics and Seoul Semiconductor set up joint venture

Sanan Optoelectronics (600703) announced on the evening of April 10 that the company, Seoul Semiconductor Corporation and Seoul Viosys (a subsidiary of Seoul Semiconductor Co., Ltd.) decided to conduct business cooperation and jointly establish a joint venture company, Anhui Sanshou Optoelectronics Co., Ltd. The company produces light-emitting diode ("LED") products with a registered capital of $2 million. The company invested US$980,000 in its own monetary funds, accounting for 49% of the registered capital of the joint venture company.

According to the company, this cooperation is in line with the company's development strategy, accelerating the pace of international development of the company, further enhancing the international market share and influence of the company's products, and is conducive to further improving the company's profit rate and promoting the company's development goals as soon as possible.

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