On December 28, BOE issued an announcement on participating in the establishment of Beijing Jingguoguan Equity Investment Fund (Limited Partnership) and related transactions.
According to the announcement, Beijing State-owned Capital Operation and Management Co., Ltd. (hereinafter referred to as "Beijing Guoguan") intends to initiate the establishment of a market-oriented cross-regional and cross-industry Beijing Jingguoguan Equity Investment Fund (Limited Partnership), focusing on the reform and reform of state-owned assets and state-owned enterprises. The capital's industry upgrades, investing in growth and maturity projects in high-growth industries. BOE intends to subscribe 300 million yuan as a limited partner to participate in the establishment of the above-mentioned fund.
According to the announcement, Ms. Wang Jing, director of BOE, is the deputy general manager of Beijing Guoguan, and one of the limited partners, Northern Huachuang Technology Group Co., Ltd., the controlling shareholder, Beijing Electronics Holdings Co., Ltd., is the actual controller of BOE. This transaction It constitutes a related party transaction of joint investment with related parties.
Regarding the necessity of the project, BOE stated that the company relies on its technological reserves in the fields of semiconductor display and sensing to transform and develop into the Internet of Things, and it needs to pay close attention to the key technologies and innovative applications of the Internet of Things industry chain. Therefore, BOE participated in the establishment of Beijing Jingguoguan Equity Investment Fund, which is in advance in the upstream and downstream industrial chain, in line with the company's development plan for the Internet of Things. At the same time, by effectively paying attention to the upstream and downstream industry dynamics, it prevents the company's industrial risks and further enhances its core competitiveness.
In terms of project feasibility, BOE stated that Beijing Guoguan is one of the first local state-owned enterprises to explore and carry out private equity fund investment in China, with a fund management scale of more than 150 billion yuan. BOE and Beijing Guoguan have maintained a good cooperative relationship for many years. As another landing project of the cooperation between the two parties, the Beijing Jinguoguan Equity Investment Fund can give full play to the complementary advantages of the two parties' resources and realize the synergy effect between industry and capital.
BOE stated that the purpose of this equity participation is to use the advantages of all fund partners to tap high-quality upstream and downstream industry targets, ensure the supply security of the company's display industry chain and build smart system industrial clusters to serve the company's long-term business development; and Relying on the professional capabilities of professional investment institutions in equity investment activities, and under the premise of reasonable risk control, capital appreciation can be realized.
In addition, the source of funds for this equity participation is its own funds. In the short term, it will not have a significant impact on the company's financial status and daily production and operation. In the long term, it can provide a guarantee for the company's continuous, rapid and stable development. This investment will not cause competition in the same industry, and there will be no behavior that harms the interests of the company and shareholders.
