HONG KONG, CHINA - Media OutReach - 30 October 2018 - China Display Optoelectronics Technology Holdings Limited ("Ch Display Opt" or the "Company", together with its subsidiaries, the "Group"; HKSE stock code: 334) is pleased to announce that TCL Corporation increased its stake in the Group by 1,000,000 and 1,496,000 shares through its subsidiary, Shenzhen China Star Optoelectronics Technology Co., Ltd.* (深圳市華星光電技術有限公司, "CSOT"), on 26 and 29 October, respectively, which indicated its full confidence in the Group's development.
Following the advent of the peak season for smartphone sales that led to the recovery of display module industry, in addition to the Group passing the qualification requirements of a world-leading smartphone manufacturer in September 2018 to produce its module products thereafter, the Group recorded year-on-year increases of 57.3% and 19.0% in overall sales volume for a single month in September and for the third quarter, respectively. At the same time, its revenue for the third quarter alone reached a historical high of RMB1.29 billion, which showed a stronger growth momentum than the overall market. The Group expects to maintain the upward thrust in the fourth quarter.
The Management of Ch Display Opt said, "The acquisitions of shares by TCL Corporation, the Group's ultimate controlling shareholder, fully demonstrated its confidence in the Group's prospects. We are committed to creating greater value for ourshareholders through constant optimization of product structure and proactive enhancement of the synergistic advantage with CSOT."
About China Display Optoelectronics Technology (334.HK)
Headquartered in China, China Display Optoelectronics Technology Holdings Limited (HKSE stock code: 334) is one of the major providers of small-to-medium-sized display modules in the region. Ch Display Opt engages primarily in the research and development, manufacturing, sales and distribution of LCD modules mainly for handheld mobile devices on an ODM basis. Smartphone LCD module products of Ch Display Opt are welcomed by domestic and overseas manufacturers with sales volume ranking among the top.
For more information, please visit its website at www.cdoth8.com.