China Development Bank Signs Strategic LED Business Financing Partnership Deal with San’an Opto

China Development Bank (CDB) and San’an Opto group signed a strategic partnership agreement Thursday in southern province Xiamen to propel the Chinese LED company’s global sales strategy and rankings.

Cai Dong, Executive Vice President of CDB, and Xiamen Vice Mayor Lu Jiang and other government officials attended the signing ceremony. The deal was inked by CDB general manager Xiamen branch Yang Aiwu and San’an Opto Chairman Xiucheng Lin.

Under the agreement the two organizations will be strengthening partnerships in merger and acquisition loans, project loans, loans and repayment applications. CDB will also set up midterm loans, special construction funds, industry funds and others to fully support LED chip, IC electric circuits, other oversea acquisitions and production capacity expansions, which totals RMB 30 billion (US $8.63 billion) in financing.

By signing this agreement, the two organizations will initiate a new series of partnerships, and explore more business partnership models to build a closer and more stable strategic partnership to facilitate a dual-win strategy.

CDB and San’an Opto partnership dates back to 2012, over the last four years the companies facilitated credit and rental certification businesses, became one of San’an Opto groups main bank for financing.

Besides providing large sums financing and crediting, the CDB invested more than RMB 6.4 billion in a national IC industry fund. This year San’an Opto and Qiangzhou City Government established a LED chip investment fund worth RMB 50 billion, and signed a big partnership deal with Indonesia’s largest financial group Sinar Mas Group, and became one of its leading LED product suppliers.

Supported by CDB, San’an Opto’s total assets soared 137% from RMB 19.5 billion in 2012 to RMB 46.4 billion by the end of September of 2016. San’an Opto’s market value also jumped 156% from RMB 20 billion to RMB 51.2 billion.

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