July 16, Refond revealed announcement that it cooperates with TCL Group and wholly owned subsidiary of Taiwan-based FOREPI to set up a LED joint venture in Guangdong Huizhou Zhongkai High-tech Development Zone with 200 million Yuan.

The new company named "Huarui Optoelectronics Technology (Huizhou) Co., Ltd.", located in Zhongkai High-tech Development Zone, Huizhou of Mainland China, and it has capital of 200 million Yuan, of which, TCL Group is the leading company, holding shares of 51%, about investment of 102 million Yuan (about NTD 495 million); Refond takes up 25% equity, investing 50 million Yuan; the wholly owned subsidiary of Formosa Epitaxy accounts for 24% with investment of 48 million Yuan.

According to the announcement released on last night, the main businesses of this new LED joint venture are LED package, backlight modules, lighting modules and development, manufacturing and sales of peripheral products; investment in LED chips, packaging, application modules, application products and other related industries.