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QSTECH Parent Company CVTE Plans to Invest 4.2 Billion to Build "Global Headquarters Base"

Feb 21. 2024

On February 19th, CVTE was invited to attend the Guangzhou High-Quality Development Conference. Chairman Wang Yang stated in a video speech that CVTE is firmly committed to developing in Guangzhou. They plan to invest 4.2 billion yuan to build a "global headquarters base" and will continue to play the role of "chain leader," coordinating upstream and downstream partners to accelerate the digital and intelligent transformation of the industrial chain, contributing to the growth of new quality production forces in Guangzhou and supporting the city's high-quality development.

The Guangzhou High-Quality Development Conference aimed to boost the city's morale for a second round of entrepreneurship, encourage innovation, and propel Guangzhou to the forefront, shoulder heavy responsibilities, and make contributions to better support the development of the nation and the province. Representatives from government departments, the business community, and the science and education sectors were invited to speak at the conference, focusing on high-quality development and setting goals and strategies for the year 2024.

At this conference, "new quality production forces" became a hot topic. Guo Yonghang, Secretary of the Guangzhou Municipal Party Committee, stated that as Guangzhou embarks on a new journey, it must continue to play a leading role in high-quality development and set an example in the development of new quality production forces.

In response, Chairman Wang Yang of CVTE stated that Guangzhou has always adhered to the principle of "putting industry first and establishing the city through manufacturing," and has been promoting the development of emerging industries while fostering new quality production forces. Against this backdrop, CVTE achieved a revenue of over 20 billion yuan in 2023*, becoming the leading enterprise in the provincial-level ultra-high-definition video display industry cluster chain. It will continue to prioritize technology and innovation, play the role of "chain leader" consistently, collaborate with upstream and downstream partners, accelerate the digital and intelligent transformation of the industrial chain, and contribute to the high-quality development of Guangzhou.

Wang Yang also revealed that CVTE is firmly committed to developing in Guangzhou and plans to invest 4.2 billion yuan to build a "global headquarters base" in the near future.

Technological innovation is the core element of developing new quality production forces. CVTE has always insisted on independent innovation, continuously increasing research and development investment, with an expected R&D investment of over 1.4 billion yuan in 2023.

Currently, certified by the Guangdong Provincial Department of Industry and Information Technology, CVTE has become a leading enterprise in the province's ultra-high-definition video display industry cluster chain and has gradually established a three-tier R&D system of "top-level design, hierarchical architecture, and multi-level collaboration." It conducts forward-looking basic research and original innovation R&D in fields such as vision, hearing, touch, thermal management, and material science, and has established a batch of comprehensive laboratories including hardware performance laboratory, chemical laboratory, reliability laboratory, failure analysis laboratory, OTA laboratory, electromagnetic compatibility laboratory, security laboratory, and acoustic laboratory.

It has set up a central research institute, central engineering institute, innovation design institute, and postdoctoral research workstation, with the proportion of doctoral degrees exceeding 40%. It has also launched innovative entrepreneurship management methods, inspiring employees' entrepreneurial spirit and innovative ideas, and supporting the development of investment incubation and innovative entrepreneurship teams under listed companies.

While encouraging innovation, CVTE attaches great importance to protecting innovative achievements and has established a relatively complete intellectual property protection and management mechanism. As of now, CVTE's patent applications have exceeded 13,000, with over 9,000 domestic patents granted, and several subsidiaries have been rated as national and Guangdong provincial intellectual property demonstration enterprises.

High-quality development is achieved through hard work and effort. CVTE will embark on a new journey with the spirit of "starting a second business." It will anchor new heights, climb bravely, closely follow the "Guiding Opinions on Accelerating the High-Quality Development of the Audiovisual Electronics Industry," become a globally influential commercial display enterprise, and make contributions to the high-quality development of Guangzhou's ultra-high-definition video and audiovisual electronics industry.

*According to the "2023 Annual Performance Quick Report" released by CVTE

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