Subsidiary of TCL Group (002129.SZ) plans to invest approximately 11.96 billion yuan to build an integrated circuit semiconductor large silicon wafer project in Shenzhen.

The Zhitong Financial News App reported that TCL Zhonghuan (002129.SZ) announced that the company and its controlling subsidiary, Zhonghuan Leading Semiconductor Technology Co., Ltd. (referred to as "Zhonghuan Leading"), plans to invest in the construction of the "Shenzhen Project for Large Silicon Wafers for Integrated Circuits" with its subsidiary, Shenzhen Zhonghuan Leading Semiconductor Materials Co., Ltd. (referred to as the "Project Company"). The total investment of the project is expected to be approximately 11.96 billion yuan, of which it is planned to use their own funds to contribute not more than 40% of the total investment amount as registered capital, and to solve the difference between the total project investment and the actual contribution of their own funds through legal means such as equity financing and loans from a consortium of banks by the project company.