On June 15, 2015, Sanan Optoelectronics Co., Ltd., a leader in China LED industry, announced that it had signed "Strategic Agreement on Investing & Developing Integrated Circuit Industry" with Huaxin Investment Management Co., Ltd. China Development Bank, and Sanan Group, aiming to become a specialized IC company. It is noteworthy that, Sanan Group, the substantial shareholder of Sanan Optoelectronics, transferred 9.07% equities to National IC Funds at RMB22.3/stock (total transaction price: RMB4.839 billion). The cooperative parties will support Sanan Optoelectronics to develop IC business focusing on III-V group elements compound semiconductor and thus improve its core competitiveness.