2.4 billion yuan in capital increase and share expansion: Miantou Group and Huike Co., Ltd. jointly

In today's wave of economic development, industrial cooperation and upgrading have become a key force in promoting regional economic growth. On December 24, a high-profile industrial cooperation event kicked off in Mianyang. Mianyang City Investment Holding (Group) Co., Ltd. and Shenzhen Huike Co., Ltd. successfully signed a RMB 2.4 billion capital increase and share expansion agreement. It is like a blockbuster, arousing thousands of waves in the industry, bringing far-reaching impacts and new opportunities to the development of both parties and even the industrial pattern of the entire region.

The signing of this capital increase and share expansion agreement is no accident. It is the crystallization of close cooperation and deep mutual trust between the two parties over the years. It also marks that Miantou Group and Huike Group have entered a new stage of cooperation together. This measure not only provides a strong source of motivation for Mianyang to attract more investment projects, but also further consolidates the development foundation of new display industrial clusters, expands its cluster development advantages, and makes it more competitive in the national and even global industrial landscape.; At the same time, from Huike's perspective, this capital increase is like timely rain, which will play an important role in promoting its IPO listing process and is expected to help it shine more brightly on the stage of the capital market.
Looking back on the past, Miantou Group and Huike Co., Ltd. have a long history. Since the first cooperation was launched in 2018, the two sides have been walking together on the road of industrial cooperation and are constantly writing new chapters. From the launch of the 8.6th generation thin film transistor liquid crystal display device production line in Mianyang with a total investment of 24 billion yuan and the smooth production of it, to the successful production of the Mianyang Huike display module production line project invested by Miantou Group in 2021, which was successfully put into operation in March 2023, and then to 2024 In October, the Huike Mini-LED project with a total investment of 10 billion yuan and the high-power chip cooling packaging and testing project were signed. Every cooperation is like a solid cornerstone, pushing both sides step by step to continuously climb new heights in the display industry. In addition, the successful completion of the 10% equity transfer project of Mianyang Huike Optoelectronics Technology Co., Ltd. in November 2024 added a different color to the cooperation between the two parties, demonstrating the flexible and diverse cooperation models of the two parties and their keen understanding of market changes. grasp.
As a leader in the industry, Huike Co., Ltd. has always focused on the research and development and manufacturing of core display devices such as semiconductor display panels and smart display terminals since its establishment in 2001. With its excellent technical strength and keen market insight, it has made remarkable achievements in the smart display terminal business. Today, it has deployed multiple display terminal production bases in Chongqing, Hefei, Guangxi, Yichang and other places, realizing the scale of display panels in various application scenarios such as TVs, displays, notebooks, tablets, mobile phones, vehicle-mounted vehicles, and industrial control. Mass production and shipment, products are widely used in all corners of people's lives, making important contributions to improving people's visual experience. Especially this year, Huike has continued to make efforts in the field of MLED, from the mass production of Huike's first size COB display production line in Yichang, to the near completion of the Huike intelligent manufacturing industrial complex project in Changsha, to the implementation of Huike's Mini-LED project and high-power chip heat dissipation packaging and testing project in October, as well as the Huike Mini-LED backlight/direct display module and complete machine project under negotiation with a total investment of approximately 7 billion yuan. All demonstrate its firm determination and strong strength in technological innovation and industrial expansion, and also outline a grand and magnificent blueprint for its future development.
Miantou Group, as an AA + state-owned capital investment and operation company under the State-owned Assets Supervision and Administration Commission of Mianyang City, has become the largest urban investment platform company in Mianyang City after years of development and precipitation since its establishment in 1999, playing a mainstay role in promoting economic construction, urban development and industrial upgrading in Mianyang. As of the end of 2023, its assets have reached 133.6 billion yuan, ranking 62nd in the list of urban investment companies in China. Its strong strength and rich resources have provided a solid guarantee for its cooperation with Huike, and also laid a solid foundation for both parties to explore more areas of cooperation and achieve greater development goals in the future.
Looking to the future, with the gradual implementation of the 2.4 billion yuan capital increase and share expansion agreement, Miantou Group and Huike will continue to work intensively in the field of new display industry, give full play to their respective advantages, strengthen technological innovation, optimize industrial layout, and expand Market share, jointly promote the industry to a higher level and higher quality. At the same time, this cooperation will also attract the attention and participation of more upstream and downstream companies, form a more complete industrial ecology, inject new vitality into the economic development of Mianyang and even the country, create more value, and write a more brilliant industrial development chapter. We have reason to believe that with the joint efforts of both sides, the road in the future will become wider and wider and the prospects will be extremely bright.