G20 member company Tiantong shares in hand to BOE to stimulate performance growth

[Text / Reporter Hu Yanling] Tiantong shares (600330.SH) and BOE Technology Group Co., Ltd. (hereinafter referred to as "BOE") a paper cooperation book to ease the performance pressure of Tiantong shares.

Tiantong Co., Ltd. announced on December 4 that the company's controlling subsidiary Tiantong Jicheng Machine Technology Co., Ltd. (hereinafter referred to as "Tiantong Jicheng") and BOE officially signed the "Strategic Cooperation Agreement for Localization of Equipment and Spare Parts" in Beijing.

It is reported that the two sides will carry out in-depth strategic cooperation in the localization of equipment for the production of liquid crystal panels, such as laminating equipment, warehouse transport and lifting devices, coding machines, peripheral exposure machines, guide rails and scaffolding, and spare parts. Win-win.

From the perspective of specific cooperation methods, BOE will provide Tiantong Jicheng with the equipment and spare parts requirements and functional requirements for the laminating equipment associated with the production of LCD panels in accordance with the actual needs of LCD panel production. Tiantong Jicheng organized a special project team to carry out research and development according to the needs of BOE, and finally realized the localization of such equipment.

"Before, BOE has been using LCD panel equipment produced by Japanese and Korean companies, and now it is slowly cutting into domestic equipment. There are not many companies that can provide LCD panel equipment in China. We are one of them." Tiantong shares Pan Jianqing told the "New Industry" reporter, Tiantong has already provided equipment to BOE in the early two years. This time it is in-depth cooperation.

"This cooperation will undoubtedly give Tiantong Jicheng a good performance boost. With the deepening of cooperation, Tiantong Jicheng will contribute to the company's performance in the next three years," Pan Jianqing told reporters of "New Industry" disclose. In the first half of 2012, Tiantong Jicheng's special equipment and customized products revenue was 97.26 million yuan, accounting for 17.7% of the company's total revenue.

Tiantong is the first listed company in China to be directly controlled by natural persons. The company's involvement in the industry includes magnetic materials, LED crystal materials, photovoltaic modules and special equipment. Chairman Pan Jianqing is also known as the "China Soft Magnetic King".

Since the beginning of this year, the sales volume of magnetic materials products of Tiantong's main business has declined, and the photovoltaic industry has continued to slump. Together with the newly invested LED crystal materials and sales, the company achieved operating income of 549 million yuan in the first half of 2012, compared with the previous year. In the same period, it fell by 31.96% and the loss was 49.05 million yuan. In the third quarter, the loss further widened to 79.95 million yuan.

"The performance will improve." Pan Jianqing told reporters that the company has been working hard to improve performance. " BOE also has a plan to expand production. I believe there will be hundreds of millions of equipment orders, and Tiantong Jicheng will benefit greatly."

In addition to the rapid growth of Tiantong Jicheng in the future, the company will also adjust the loss-making photovoltaic product line. "We will use the company's resources to take the PV channel route and develop small photovoltaic power plants," said Pan Jianqing.

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