Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Huawei Copies Korean Rivals by with Manufacturing Own Display Driver Integrated Chips
JOYY’s Livestreaming Revenue Up 40% in Second Quarter of 2020
Trending in China: ‘Mukbangs’ Under Fire in China Amid High Level Food Waste Campaign
Trending in China: How Will the Chinese Diaspora Survive a WeChat Ban In U.S.?
Online Platform JD.com Buys into Bricks and Mortar Convenience Store Chain
China Unicom Profits Rise in First Half, Stock Soars
ByteDance in Talks with Indian Conglomerate Over TikTok Amid Layoff Fears
Alibaba’s Zhang Yong Tops 2020 Forbes China Best CEOs List
Trending: Family Feud Raises Big Questions Over Succession in China’s Multi-Million “Family” Businesses
Shanghai-Listed Foxconn Internet’s Cloud Service Sales Up 4% in First Half of 2020
U.S.-Listed Chinese Companies Nio and Huya Have Something to Cheer About
Apple Edges Huawei Out of No. 1 in Quarterly Tablet Shipments
Chinese Finance Platform Lufax Files for U.S. IPO of up to $3 Billion
China Mainland Leads U.S. in Fortune Global 500 Companies But Trails in Profitability
Trending in China: Tencent – Fighting Youth Unemployment or Enemy of Older Workers?
Tencent Pushes for Merger That Would Create $10 Billion Chinese Twitch
Tencent Music to Establish Joint Venture with Universal Music
Trending: How U.S.-China Relations Are Causing Netizens to Read the Small Print as Rumors Fly
Qualcomm Lobbies U.S. to Resume Chip Sales to Huawei
Trending in China: Excited About Returning to College Campuses? Not So Quick With Covid-19 Controls
Terry Gou-Backed LCD Panel Plant Seeks Cash Injection

By Matthew Walsh / Sep 12, 2019 06:02 PM / Business & Tech

Photo: VCG

Photo: VCG

An advanced display-panel factory backed by politically-minded electronics mogul Terry Gou is seeking new investors as the market struggles with global oversupply and falling prices, the Nikkei Asian Review reported Wednesday, citing multiple unnamed sources.

The massive 61 billion yuan ($8.5 billion) plant, in the southern Chinese city of Guangzhou, is principally operated by the Japanese firm Sakai Display Products, of which Gou is the largest shareholder. It was originally slated to produce large, advanced liquid crystal displays (LCDs) at full capacity by the end of this year. But those plans have been delayed, leading to backlogs at several of the company’s Japanese suppliers, Nikkei said. One told the publication that it was considering its legal options.

The development comes at a tumultuous time for Gou, the man behind Taiwan-based electronics-giant Foxconn and the island’s richest man. In June, he left his position as Foxconn’s chairman to pursue a career in politics, having announced his bid to become Taiwan’s leader the month before as a candidate for the Kuomintang (KMT), the current opposition party.

That run ended after an embittered Gou came second in the KMT primary, as he claimed the selection was conducted in a way that favored the eventual winner, Han Kuo-yu. But that might not be the end of his leadership bid: On Thursday, he formally withdrew from the Kuomintang, fueling renewed speculation that he might run as an independent.

Contact reporter Matthew Walsh (matthewwalsh@caixin.com)

Related: Army of Women Earning $4 a Day Could Be Behind Your Next iPhone

Share this article
Open WeChat and scan the QR code