On November 17, Qingdao Xinghai Group and Taiwan Lextar Electronics Co., Ltd. signed a strategic cooperation agreement in Qingdao Automobile Industry New City. Both parties will work together to develop the automotive LED product market.

Taiwan Lextar Electronics Co., Ltd. is an international leading enterprise of LED products in Taiwan,, and specializes in producing ultra-high brightness LEDs (Light Emitting Diode), Epi and chips. It is also a wholly-owned company of Taiwan AU Optronics Co., Ltd., the world's largest LCD panel design, R&D and manufacturing enterprise. It has great R&D strength in science and technology, and its products are sold all over the world, and enjoy a good reputation in the world.

Qingdao Xinghai Group mainly produces auto parts and products, and has the qualification of domestic vehicle refitting. Its annual output value exceeds RMB 100 million. In recent years, the company has invested hundreds of millions yuan in Qingdao Automobile Industry New City, and has built an automotive industry functional area covering more than 360 mu and integrating R&D, production, logistics, warehousing and sales service. It is a large-scale auto parts manufacturer in Qingdao, and its products are exported to Japan, South Korea, Europe, America and other countries and regions.

Dr. Su Fengzheng, Chairman of Taiwan Lextar Electronics Co., Ltd., said in an interview with reporters that LED lamps have many advantages, such as small size, low power consumption, long service life, fast response speed, high brightness, low heat, energy saving and environmental protection, etc., and are widely applied in various industries of social economy and life. In particular, the current economic development of the mainland has entered the "new normal" led by development of high and new technology and environmental protection industries. LED lamps are energy-saving and environmentally friendly with advanced technology, which fully fits the trend of economic and industrial development.

The cooperation between both parties will have the aid of technical advantages of Taiwan Lextar Electronics in automotive and lighting LED products and resource advantages of Xinghai Group in automobile enterprise and large scientific research institutions. By means of sincere cooperation, we will achieve great success.

Liu Cunliang, deputy general manager of Qingdao Xinghai Group, said that LED products are energy-saving and environmental-friendly, which is in line with the concept of energy conservation and environmental protection of the country. In particular, the automotive LEDs have high technology content, high brightness and low heat, and are firm and durable, which fully meets the needs of automotive products. At present, domestic LED lamps are only used in some high-end models. I believe that with landing and promotion of the project and as large-scale vehicle projects of FAW Volkswagen and FAW Jiefang are put into production and started, the project will have broad prospects, and is expected to reach an output value of RMB 800 million to RMB 1 billion after officially put into operation.