(Yicai Global) July 3 -- A subsidiary of China's home appliance giant TCL Corp. [SHE:000100] that specializes in producing smart televisions has recently secured a USD66.3 million (CNY450 million) investment from a subsidiary of internet mammoth Tencent Holdings Ltd. [HKG:0700].

TCL Corp. said yesterday that its arm Shenzhen Leynew Technology Co. introduced Tencent Digital (Shenzhen) Co. as a strategic investor through a share issuance. Leynew Technology's controlling shareholder pumped more capital into it, TCL said.

Before the share issuance, FFalcon Technology Holding Ltd., a wholly-owned subsidiary of TCL Corp. affiliate TCL Multimedia Technology Holdings Ltd., owned a 54.05-percent stake of Leynew Technology. Upon completion of the issuance, Tencent Digital will hold 16.67 percent of Leynew Technology's shares. FFalcon Technology Holding will remain the largest shareholder despite its stake declining to 45.55 percent.

The collaboration financially supports Leynew Technology's business development, and represents a strategic partnership between the two companies in areas such as content sharing, product innovation, market promotion and member operations. Leynew Technology hopes to expand its presence in the home entertainment industry, increase the internet business income it receives from households and small businesses and improve economic and ecological layouts of living rooms.

Leynew Technology is engaged in design, production, manufacturing and sales of Leynew branded smart TVs. TCL's smart TV platforms have 20 million active users.