Xiaomi officially invests in TCL

TCL Group issued a notice announcing that Xiaomi Group has officially invested in TCL Group. According to the announcement on January 4, 2019, Xiaomi Group purchased 65,168,803 shares through the Shenzhen Stock Exchange's secondary market, accounting for 0.48 per cent of the company's total share capital. TCL said that the acquisition will help deepen the cooperation between Xiaomi and TCL and build a closer strategic partnership. Previously, on December 29, 2018, TCL Group signed a strategic cooperation agreement with Xiaomi Group. The two parties will carry out joint research and development on the integration of high-end basic components of intelligent hardware and electronic information core, and innovate the application of new device technology in the next generation of intelligent hardware. This strategic cooperation with TCL will help Xiaomi become bigger and stronger in the field of household appliances.