TES and TPK to Establish A Joint Venture To Grow Smart Cockpit Business And Develop Automotive Touch Display System Product Lines

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November, 9, 2021, TES Touch Embedded Solutions (Xiamen) Co., Ltd., (TES), announces that TES will invest 10% of TPK AutoTech (Xiamen) Limited (TPK Auto Tech), a newly established subsidiary company of TPK Group. TPK Group established TPK Auto Tech in October, 2021. All customers, businesses, team and operational assets under current TPK Automotive Touch Modules business unit will be transferred to TPK Auto Tech and its subsidiaries. TES’ investment in TPK Auto Tech will be make after the completion of the spin-off processes, a board director appointed by TES will participate in decision making of TPK Auto Tech’s governance and strategies.

TPK Auto Tech, operated as TPK Automotive Touch Modules business unit before the spin-off, had its first automotive touch module product in 2012, and continued to develop its businesses in the global automotive smart cockpit market. With more than 10 years of industry experience and know-hows of automotive products, TPK Auto Tech keeps focusing on serving the leading automotive and aircraft manufacturers in the world, including the leading new energy vehicle brands in the United States, the major European fuel luxury car brands and commercial aircraft manufacturers (including their first-tier suppliers). TPK Auto Tech’s customer validated and ISO-certificated manufacturing site is in Xiamen, with global customer service teams located in Taipei, Düsseldorf, Tokyo, and Seoul.

TPK Auto Tech’s existing business resources and sales channels will help TES enter the smart cockpit market, and with TES’ investment in place, TPK Auto Tech will continue to develop global automotive touch module businesses and extend product offering to system level applications, the two companies cooperate to explore China automotive market with the focus on new energy vehicle customers. TES's expertise and experience in the technology, product design, supply chain and production management of intelligent interactive display devices and integrated solutions will allow TPK Auto Tech to enhance product portfolio, optimize customer service, bring more product value added to customers, and at the same time, strengthen the market position of TES and TPK Auto Tech jointly in automotive smart cockpit industry.

As an investment condition, within 2 years after the closing of this investment, TES will have the right to increase its shareholding in TPK Auto Tech up to 49% at the same entry valuation to further deepen the strategic cooperation and share TPK Auto Tech’s profit growth.

TES Touch Embedded Solutions (Xiamen) Co., Ltd., (TES), a leading global provider of commercial intelligent interactive display devices and integrated solutions, is focusing on the development, design, production and sales of commercial intelligent interactive display devices. TES is deeply rooted in the retail, financial, industrial automation, medical, catering, fitness, logistics, gaming and entertainment, transportation and public service markets offering solutions and integrated products including Intelligent interactive displays, smart interactive all-in-ones computers, and smart interactive display device components. TES was listed on the Shenzhen Stock Exchange on November 17, 2020, stock code: 003019.

For more information regarding the investment, please contact our global service team by email at IR@tes-tec.com.