on march 26 during the china (shenzhen) it summit 2016, the shenzhen municipal government and leshi holding (beijing) co., ltd. entered into the framework agreement for strategic cooperation. the shenzhen guidance fund, leshi and china bridge capital also executed an m&a fund cooperation agreement, under the guidance of invest shenzhen. according to the agreement, leshi will build its smart terminal headquarters in shenzhen and increase communication and cooperation with the shenzhen municipal government in other fields including smart terminals and "internet applications". xu qin (mayor of shenzhen) and jia yueting (chairman of the board of directors at leshi) attended the signing ceremony.
before the signing ceremony, xu qin held a talk with the delegation led by jia yueting. mr. xu indicated that shenzhen is the domestic leader in the internet, electronic information and financial industries and has attracted a group of internet giants including china electronics corporation, baidu and alibaba to set up headquarters. he added that shenzhen will continue improving the investment environment to power leshi's development in shenzhen. mr. jia was deeply impressed by shenzhen's innovation culture and development of the smart hardware industry. he believes that leshi, with seven major business segments including internet and cloud, content, tv, mobile phone, automobile, sports and internet finance fits well with shenzhen in the industry development strategy and corporate values areas. he hoped that both sides can push forward industrial upgrading and contribute to the development of the internet ecosystem.
according to the framework agreement, leshi will incorporate a holding company as an independent legal entity in shenzhen. the holding company will serve as leshi's smart terminal headquarters to operate businesses including leshi smart tv, mobile phone and wearable gear (leyi). in addition, leshi, the shenzhen guidance fund and china bridge capital will jointly set up the shenzhen leshi china bridge capital m&a fund to support leshi's business development in shenzhen.
municipal government leaders including zhang hu, li tingzhong and gao yuyue, liu hong (vice chairman of leshi) and zeng qiang (chairman of china bridge capital) attended the signing ceremony.
