(Yicai Global) July 7 -- Shenzhen Refond Optoelectronics Co. [SHE:300241] will partner with an investment company the city government of Shenzhen controls to quest for mergers with and acquisitions of (M&As) light-emitting diode makers.
Refond Optoelectronics will seek both domestic and foreign targets and focus on the automotive lighting industry chain to cement its presence in the auto LED lighting and intelligent drive sectors.
The company struck a strategic cooperation framework agreement with Shenzhen Capital Group Co. to sharpen its competitive edge within the industry, Refond Optoelectronics said yesterday. The company is also sniffing out opportunities for project and technical cooperation around the globe in new-generation semiconductor (e.g. laser light source and MicroLED) technologies.
The parties will establish corresponding service teams to execute the project. An occasional joint meeting will smooth their work, fix respective rights and obligations on specific collaborative matters and set billing schedules for service fees, per the announcement.