Jingneng Optoelectronics received a capital increase of US$55.5 million from IFC and other investment institutions

LED chip maker Jingneng Optoelectronics (Jiangxi) Co., Ltd. received a capital increase of 55.5 million US dollars from the International Finance Corporation (IFC) on the 8th; Jingneng Optoelectronics will use this increase to expand the production line in Jiangxi Province And increase the share of the domestic market through capital investment. In addition, Chen Junqing, the mayor of Nanchang City, who participated in the signing ceremony of the capital increase, also said that it will support the establishment of LED industry cluster in Nanchang with Jingneng Optoelectronics as the upstream leader.

In the total capital increase of 55.5 million US dollars, IFC's capital increase is 12.5 million US dollars; and as a high-tech enterprise specializing in LED epitaxial materials and chip production, Jingneng Optoelectronics currently has a registered capital of 55 million US dollars.

Zhao Xuanzan, chief representative of IFC China and Mongolia, said that the agency supports climate change through the development of renewable energy, clean technologies and innovative energy efficiency financing. This capital increase will also help Jingneng Optoelectronics improve its environmental and social responsibility. The completion. He stressed that the $55.5 million increase in capital will also promote the economic development of the underdeveloped Jiangxi Province; it is expected that Jingneng Optoelectronics will be able to create more than 500 jobs in China's frontier regions in the next three years.

Wu Shenjun, chairman and CEO of Jingneng Optoelectronics, believes that the capital increase of many institutions will promote the faster application of LED in the Chinese market and promote the company's strategy of continuing to produce low-cost products on a large scale. He pointed out that this investment played an important role in the adoption of the highest level of environmental, social and corporate governance standards.

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