Macao’s Hang Huo Enterprise Group recently announced that its affiliate Hang Huo venture capital fund will invest in Guanke Electronic Technology Industrial Co., Ltd. in Jinjiang, Fujian province, offering advice on its shareholder system reform and help its entry into capital markets.
The second largest liquid crystal display (LCD) manufacturer in Fujian province, Guanke was established in 2006. It is a manufacturer of flat-panel LCD products such as LCD panels, smart televisions and Tablet PCs. In 2013, Guanke reached an output value of 2.5 billion yuan ($400 million) and paid 115 million yuan ($18.37 million) in national and local taxes.
According to Ke Shaochun, CEO of Guanke, with the collaboration, Hang Huo will provide advice to further promote the development of Guanke and help to lay a solid foundation for its access to capital markets.
Hang Huo Enterprise Group was founded 20 years ago by Yan Yanling, member of the standing committee of the CPPCC national committee and member of the Economic Committee of Macao Special Administrative Region (SAR). The company’s business scope includes venture capital funds, hotel properties, transport logistics and high-tech agriculture.
Focusing on IT, new materials, clean energy sources and biotechnology industries, Hang Huo venture capital fund helps develop potential projects with good returns, contributing to the industrial structure reinforcement in its hometown.
By China Daily Fujian Bureau.
