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Hongli Zhihui and Jingyuan Optoelectronics form a strategic partnership with car-level LEDs
On October 27, Hongli Zhihui announced the signing of a Strategic Cooperation Agreement with Jingyuan Optoelectronics Co., Ltd. (referred to as "Jingyuan Optoelectronics" for short). This partnership focuses on the automotive lighting sector, where both companies have already integrated LED products into their offerings. With LED lighting identified as a key growth area in the future, the collaboration aims to leverage each party's strengths, promote resource sharing, and achieve mutual benefits.
The development and certification process for car-level LED products is lengthy, so the two companies have agreed on a four-year strategic cooperation period. Hongli Zhihui will provide its proprietary LED chips, which are then packaged into automotive-grade LED components by Jingyuan Optoelectronics. Together, they will work on advancing and certifying these high-performance LED products, aiming to strengthen their competitive edge in the market.
From November 2017 to October 2021, Hongli Zhihui or its subsidiaries will purchase automotive-grade LED chips from Jingyuan Optoelectronics, with an estimated total value of approximately RMB 500,000, subject to a ±15% fluctuation based on market conditions.
As part of the agreement, the two parties have committed to establishing a monthly communication mechanism between senior management to ensure smooth implementation and continuous progress of the partnership. They will jointly develop new products and wafers, with Jingyuan Optoelectronics providing innovative solutions to support Hongli Zhihui’s product strategy. Hongli Zhihui will prioritize the use of Jingyuan Optoelectronics’ new products and share test data and reports to help improve product quality. Additionally, Hongli Zhihui will submit quarterly product demand forecasts and monthly procurement plans, while Jingyuan Optoelectronics will prioritize production to meet these needs.
Hongli Zhihui emphasized that this partnership addresses the challenges of large-scale production of LED chips with intellectual property rights, ensuring stable supply and cost reduction for automotive-grade LED products. It also accelerates access to advanced LED technologies and services, enhancing the company’s position in the LED automotive lighting market. By leveraging Jingyuan Optoelectronics' resources, Hongli Zhihui is accelerating its expansion into this promising industry segment.
This collaboration marks a significant step forward in the development of high-quality, reliable LED solutions for the automotive sector, reflecting the growing importance of innovation and strategic alliances in the industry.