Tcl announces 280 million yuan stake in military industry

Tcl announced today that the company and the Tianjin Communications Broadcasting Group Limited trade union signed the "Equity transfer agreement." The agreement shows that TCL will be about 280 million yuan on the price of Tianjin 712 Communications Broadcasting Co., Ltd. about 11% of the equity. This is TCL recently joined the Wanda Group after another step strategic layout.

The announcement showed that TCL would nominate 2 of the 7 directors of the 712 company's board after the deal was completed, with one of the directors nominated as vice chairman.

Data show that 712 is a military-backed enterprise, is a domestic military wireless equipment and navigation equipment suppliers. 712 of the shareholders of Tianjin Central Electronic Information Group is a wholly state-owned large enterprise group, mainly engaged in military civilian communications, broadcast audio-visual, semiconductor devices and materials, basic electronic products, instrumentation and other product development, production and management.

All kinds of indications, Tcl this 280 million yuan stake in Tianjin 712 Communications Broadcasting Company, is not a simple financial investment, but for the previous group set up the industrial structure to do reserves. At present, Tcl has been adjusted to "7 (Product business area) +3 (Service business area) +1 (venture capital investment Business)", these 7 business sectors, in addition to the traditional multimedia, communications, huaxing Optoelectronics, home appliances industry, KONE electronic new business system to set up commercial systems and parts and materials business group. CICC analysis said that through the acquisition of "712", the company obtained professional certification and special sales channels, is the company's business system in a major expansion.