On the 22nd, the China Development Bank ("China Development Bank") signed a strategic cooperation agreement with Fujian Sanan Group in Xiamen to help Fujian, a private leading enterprise integrating optoelectronics, integrated circuits and bulk trade, to accelerate the pace of "going out". The global sales network of key industries is ranked among the top in the world.
Cai Dong, deputy governor of the National Development Bank, and Lu Jiang, deputy mayor of Xiamen, attended the signing ceremony. Yang Aiwu, President of CDB Xiamen Branch and Lin Xiucheng, Chairman of Fujian Sanan Group, signed the Development Finance Cooperation Agreement.
According to the agreement, the two sides will have more in-depth cooperation in mergers and acquisitions loans, project loans, and group lending. At the same time, CDB will fully support its key areas of LED chips, integrated circuits and other areas to accelerate overseas mergers and acquisitions and capacity expansion with medium and long-term loans, special construction funds, industrial funds, etc., involving a financing amount of 30 billion yuan.
Through the signing of this agreement, the two sides will kick off a new round of cooperation and seek common development; explore diversified cooperation models, establish close and stable strategic cooperative relations, and achieve mutual benefit and common development.
As early as 2012, CDB had cooperated with Sanan Group and realized full coverage of Sanan Group's “investment and loan bond†business in the past four years, becoming the main financing group of its group.
In addition to providing large-value financing credits, CDB led the National Integrated Circuit Industry Fund to 3.4 billion yuan in shares of Sanan Optoelectronics last year. This year, Sanan Group and Quanzhou Municipal Government were established to establish a 50 billion yuan Anxin Industrial Investment Fund, and the largest consortium in Indonesia. The company Jinguang Group signed a cooperation agreement and became one of its LED product suppliers.
With the full support of CDB, the total assets of Sanan Group increased from 19.5 billion yuan in the initial period of cooperation in 2012 to 46.4 billion yuan at the end of September 2016, an increase of 137%; the market value of Sanan Optoelectronics increased from 20 billion to 51.2 billion. 156%.
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