Shanghai Chaoyu invested 1.5 billion yuan to establish a wholly-owned subsidiary, Chongqing Chaohao Optoelectronic Technology Co., Ltd., and built a 200-acre LED production base in the water and soil high-tech industrial park. It is understood that the current mainland LED chips are almost all from Taiwan, as well as South Korea, Japan, etc., which leads to high domestic LED lamps. In order to solve technical problems, the company will also introduce Taiwan Zhoulei Technology. As technological innovation has greatly reduced the cost of LED production, it is expected that after the LED lights are launched in Chongqing next year, the price is expected to be about one-third cheaper. In three or five years, the price dropped by about half.
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