SHANGHAI, Dec. 7, 2018 /PRNewswire/ -- USI (601231.SS) recently announced that on December 6, 2018, the Company's wholly-owned sub-subsidiary Universal Global Electronics Co., Limited entered into an agreement with Phi GP, Ltd.. As a limited partner, Universal Global Electronics Co., Limited intended to subscribe for the share of PHI Fund, L.P. for not more than US$25 million, and invest in installments in accordance with the required amount of investment targets.
The PHI Fund is a professional investment management team composed of experienced professionals in the automotive industry, high-tech industry and investment field. Its team members have deep expertise and wide connections in their respective fields. It also has consultant teams from Europe, North America, Taiwan, Hong Kong and mainland China. The Fund will focus on exploring crossover, upgrade and transformation investment opportunities arising from the transformation of new travel modes, and discovering valuable investment targets by introducing new technologies of different fields to all links of the industry chain or introducing existing technologies into new markets. The investment fund will be mainly used for investing in the automotive and smart industries.
USI's investment in the PHI Fund is beneficial to the Company for leveraging the experience of the fund management team to accelerate the layout and business development of the automotive electronics industry, establish a broader partnership with fund investors and fund investment companies while sharing fund investment gains, increase the Company's engagement in the automotive electronics industry and ecosystem, and enhance industry influence.
Jeffrey Chen, Chairman of USI, put forward the goal of "Modularized, Diversified and Globalized" for the Company's future development, and made it clear that the Company would continue to strengthen its industry-leading D(MS)2 business positioning, consolidate the world leading position of System-in-Package (SiP) technology, accelerate growth of advantageous product lines such as system integration of automotive electronics, industrial and server systems, and actively combine the denotative expansion and organic growth opportunities through M&A to accelerate business growth, improve profitability and increase returns to investors.
About USI (601231.SS)
USI is a leading global D(MS)2 company providing design, miniaturization, material sourcing, manufacturing, logistics, and after services of electronic devices/modules for brand owners. USI is a member of ASE Group and has been listed in Shanghai Stock Exchange in 2012. It has many years of experience in the electronics manufacturing services industry and leverages the industry-leading technology of ASE Group, which enables USI to offer customers diversified products in the sectors of wireless communication, computer and storage, consumer, industrial, and automotive electronics worldwide. Through the sales service network in North America, Europe, Japan, Mainland China, Taiwan, and manufacturing sites in Mainland China, Taiwan, Mexico and Poland. USI has about 18,000 people worldwide. For more information, please visit the website www.usish.com.