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                News of Wingtech

                Wingtech Technology and Gree Group Join Hands to Acquire ?O-film& #39;s Camera Business of Certain Overseas Customer

                2021-04-13

                Recently, Wingtech Technology and Gree Gold Investment of Gree Group formally signed the "investment and shareholder agreement". Wingtech Technology and Gree venture capital, a subsidiary of Gree gold investment, jointly launched the establishment of an industrial platform with a registered capital of 3 billion yuan - Zhuhai Delta Technology Co., Ltd. (temporarily named, referred to as Zhuhai Delta) to jointly acquire O-film's camera business of certain overseas customer. At the same time, we will build a key project of photoelectric Intelligent Manufacturing Industrial Park in Zhuhai, and jointly build a new benchmark of "Zhuhai intelligent manufacturing".


                Joint acquisition of O- camera business

                Layout of intelligent manufacturing industry chain


                Since February 2021, Wingtech Technology has successively disclosed relevant announcements on the acquisition of 100% equity and related operating assets of Guangzhou Delta Imaging Technology Co., Ltd. it plans to purchase 100% equity of Guangzhou Delta and related equipment owned by Jiangxi Jingrun optics Co., Ltd. in cash. The transaction price is about 2.42 billion yuan.


                On April 12, 2021, Wingtech Technology officially announced the cooperation. Wingtech Technology and Gree venture capital jointly funded the establishment of Zhuhai Delta company, as the designated acquisition subject to acquire 100% equity and related operating assets of Guangzhou Delta Imaging Technology Co., Ltd. Zhuhai Delta has a registered capital of 3 billion yuan, of which Gree venture capital has invested 900 million yuan, accounting for 30% of the total; Wingtech Technology company has invested 2.1 billion yuan, accounting for 70% of the total.


                微信圖片_20210413093920.jpg


                Li Gang, an electronic analyst at Sinorama, a Chinese market research institution, said that cameras are the main technology direction in mobile phones, IoTs, smart automobiles and other fields in the future, and technological innovations such as high-end cameras, dual cameras, and triple cameras bring huge and growing industrial opportunities. O-film's camera business is also the most core and the most valuable part in China's industrial chain for certain customers. Its scarcity and importance are self-evident. It can be said that it is the Pearl in the crown of China's industrial chain.


                Relevant people believe that the joint acquisition of the camera related business of overseas specific customers by the two sides will not only help Wingtech Technology further extend to the upstream of the industrial chain, carry out the layout and integration of the industrial vertical field, better grasp the development opportunity of the rapid growth of demand in 5G, IoT and intelligent automobile fields, but also help Gree Group to deeply lay out the intelligent manufacturing industrial chain To further deepen the cooperation with listed companies and industrial capital, explore new modes and paths of high-quality development, accelerate the transformation to the state-owned capital investment and operation platform, and help Zhuhai continuously optimize the industrial structure and build a modern industrial system.


                Joint construction of optoelectronic intelligent manufacturing industry

                Build a new benchmark of "Zhuhai intelligent manufacturing"


                Relying on Zhuhai Delta company, Wingtech Technology and Gree Group will join hands to build an optoelectronic Intelligent Manufacturing Industrial Park in Fushan Industrial Park, Zhuhai City. They are committed to R&D and production of intelligent terminal camera modules, creating a new benchmark of "Zhuhai intelligent manufacturing" and solidly helping "Zhuhai intelligent manufacturing" drive into a high-quality development fast lane.


                微信圖片_20210413093354.jpg


                The company is optimistic about Zhuhai's investment and industrial environment and will give full play to its advantages to provide a solid guarantee for the sustainable development of the industrial platform. The relevant person in charge of Gree gold investment said that it will effectively deepen the cooperation with Wingtech Technology, constantly strengthen communication business, expand cooperation space, realize greater development, build the industrial platform and industrial park and make it a "leader" of cultivating and introducing high-quality intelligent manufacturing industry projects in Zhuhai, actively help the development of "Zhuhai intelligent manufacturing" industry and build a modern industrial system, and help Zhuhai become a leading city. It will be a new economic engine for Guangdong, Hong Kong and Macao.


                For press information, please contact:


                Kris Xu

                Email: PR@Wingtech.com