TCL Group to be approved

TCL Group issued a notice yesterday, the company's private issue of shares in the application successfully approved by the SFC. The issue of the net raise funds not exceeding 5 billion yuan, will be used to invest in huaxing photovoltaic LCD panel projects.　　This will be the TCL group to create a "lead the next 10 years" of the complete industrial chain, the construction of China's color TV industry core competitiveness of the development strategy to lay a solid foundation.　　TCL chairman Li and company shareholder Huizhou Investment Holdings Limited will participate as strategic investors in the subscription, the subscription amount is 250 million to 400 million yuan and 300 million to 500 million yuan respectively, and the subscription of shares from the end of this non-public offering within 36 months from the date of the transfer. Tcl Group said that the company has the confidence and determination to do a good job in the 8.5-generation LCD panel production line project to achieve the company's strategic goal of the whole industry chain. At present, by He Chengming, Chen Liyi, Kim led by nearly 200 of the international professional team has been set up, from talent and technology to ensure the smooth implementation of huaxing photovoltaic project. Huaxing Photovoltaic project has successfully completed the Pile Foundation project, as planned in August 2011 to start trial production, the year four to achieve mass production, December 2012 to reach full production, it is expected to achieve production capacity of the monthly processing glass substrate 120,000, annual output of 26 inches to 32 inches, The 46-inch and 55-inch LCD TV module is about 17.5 million, and most of the capacity will be digested by Tcl.