Jianguang Assets, Lianxin Technology, Qualcomm and Zhilu Capital jointly signed an agreement to establish a joint venture company in China

Beijing, China, May 26, 2017 - Today, Beijing Jianguang Asset Management Co., Ltd. (hereinafter referred to as: Jianguang Assets), Lianxin Technology Co., Ltd. (a subsidiary of Datang Telecom Technology Co., Ltd., hereinafter referred to as: Core Technology), Qualcomm (China) Holdings Co., Ltd. (a subsidiary of Qualcomm Technology Inc., hereinafter referred to as Qualcomm), and Beijing Zhilu Asset Management Co., Ltd. (hereinafter referred to as Zhilu Capital) signed an agreement to establish a joint venture company- —Jinsheng Technology (Guizhou) Co., Ltd. (JLQ Technology). The joint venture will focus on the design, packaging, testing, customer support and sales of smartphone chipsets designed and sold in China for the mass market.

Representatives attending the signing ceremony include: Li Bin, Chairman of the Jianguang Asset Investment Review Committee, Sun Wei, General Manager, and Jia Xin, Deputy General Manager; Chen Shanzhi, Vice President of Datang Telecom Technology Group, and Li Yonghua, President of Datang Telecom Technology Co., Ltd. Vice President and Secretary of the Board of Directors Jiang Kun; Executive Vice President and QCT President of the US Qualcomm Technology Corporation Christiano Amon, Qualcomm China Chairman Meng Pu, Qualcomm Technology Corporation Vice President Savi Soin and a number of other executives; Zhang Yuanjie, Partner of Zhilu Capital Management. The signing ceremony was hosted by Qian Guoliang, vice president of Datang Telecom and general manager of Lianxin Technology.

The joint venture will combine Qualcomm's advanced technology, scale and product portfolio with Lianxin's unique R&D capabilities and deep resources in China's industry, Jianguang Asset's good relationship in China's financial industry, and Zhilu Capital's global finance. The industrial ecological chain resources have been combined.

“The joint venture company organically combines financial and industrial resources from Qualcomm, Jianguang, Datang and Zhilu, and the synergy between partners will help promote local technological innovation.” Li Bin, chairman of the Jianguang Asset Investment Review Committee, said The second cooperation is also an important part of Jianguang Asset's global semiconductor industry's ecological layout. With the financial industry background of Jianguang Assets and years of experience in semiconductor and communications, we will help the joint venture achieve long-term success."

"With the increase in the proportion of China's mobile phone chip consumption and the ever-improving smart phone ecosystem, the joint venture company will occupy a favorable market position to meet the growing needs of Chinese consumers." Sun Wei, general manager of Jianguang Assets, said, "We It is believed that the cooperation of several parties to establish a joint venture semiconductor design enterprise will benefit the consumers and promote the rapid growth of China's IC design industry.” Jia Xin, deputy general manager of Jianguang Assets, said: “The success of the joint venture company will depend on our parties. With the close cooperation, Jianguang Assets will continue to work with our partners and move towards our common goal."

"For a long time, Datang Telecom Group has always attached great importance to the industrial layout in the field of mobile communications. The establishment of this joint venture company will have important milestone significance. Lianxin Technology is the most important integrated circuit design enterprise under the Datang Telecom Industry Group. One of them has been in the leading position in the field of chip design, especially wireless communication.” Chen Shanzhi, vice president of Datang Telecom Technology Industry Group, said, “We hope that this joint venture will integrate Datang, Qualcomm, Jianguang Assets and Intelligence. Road Capital's four-way superior resources strengthen the overall competitiveness in the field of mobile communications through the two-wheel drive of advanced technology and capital operation."

"As a high-tech backbone enterprise in the state-owned information and communication field, Datang Telecom has further focused on the core areas of the upstream of the ICT industry. At the same time as the enterprise's endogenous development, Datang Telecom is also actively seeking cooperation and win-win cooperation with leading companies in the industry." President of Datang Telecom Li Yonghua said, "Datang Telecom's internal and international capital, through deep cooperation with the world's leading companies in technology, talent, market and other aspects, mutual learning and mutual benefit and win-win, and promote the development of integrated circuits."

Qian Guoliang, vice president of Datang Telecom and general manager of Lianxin Technology, said: “Since its inception, Lianxin Technology has been committed to providing leading mobile terminal chips and solutions. Through the integration of international and local IC talents, we look forward to the joint venture. The company can quickly advance the target market and conduct extensive customer development."

Cristiano Amon, executive vice president and president of QCT, Qualcomm Technologies, said: "This joint venture further demonstrates our long-term commitment to the Chinese mobile communications industry. This project will help us expand new market segments and customers. Becoming a complement to our vibrant and fast-growing semiconductor business in China."

Meng Pu, chairman of Qualcomm China, said: "For more than 30 years, Qualcomm has been a leading technology innovator in the mobile space. We expect this joint venture to develop a chipset that meets the needs of China's 4G smartphone ecosystem."

“Zhilu Capital is committed to providing financial and industrial resources to the joint venture to help its growth.” Zhang Yuanjie, a partner of Zhilu Capital Management, said, “We look forward to this cooperation as the cornerstone of long-term cooperation between our Chinese and American partners. Lu Capital has established a fund to focus on upstream and downstream investment in mobile technology to promote the company's mutual growth and strengthen our strategic cooperation with our partners."

Yusheng Technology (Guizhou) Co., Ltd. (JLQ Technology) will be registered in Guizhou Gui'an New District. Relevant cooperation matters must be approved by the relevant departments, and the joint venture company is expected to be integrated later this year.

About Jianguang Assets

Beijing Jianguang Asset Management Co., Ltd. (“Jianguang Assets”) is an investment company controlled by China Construction Investment. The investment direction of Jianguang Assets is to invest in high-tech industries, including semiconductors, IT and networks, data services, cloud computing and communications. With the abundant resources of the global financial market, Jianguang Assets cooperates with leaders in various industries and invests in high-tech industries and global semiconductor markets to support its sustainable development.

About Lianxin Technology

Lianxin Technology Co., Ltd. ("Lianxin Technology") is a subsidiary of Datang Telecom Technology Co., Ltd., which is committed to providing leading 3G/4G mobile terminal chips and solutions. It is headquartered in Shanghai, Beijing, Shenzhen and Hong Kong in China. Such cities have R&D and service centers.

About Qualcomm

Qualcomm's technology drives the revolution in smartphones, connecting billions of people. We have made pioneering contributions in 3G and 4G, and are now leading the 5G road to a new era of intelligent networking terminals. Our products are transforming the automotive, computing, Internet of Things, health care, data center and other industries, and support millions of terminals connected to each other in unimagined ways. Qualcomm Incorporated includes the Technology Licensing Service (QTL) and most of our patent portfolio. Qualcomm Technologies, Inc. is a wholly-owned subsidiary of Qualcomm Incorporated, which operates all of its engineering, research and development activities and all of its products and services with its subsidiaries, including our semiconductor business QCT. For more information, please visit Qualcomm's website, blog and Weibo.

About Zhilu Capital

Smart Road Capital is a global private equity fund focused on exploring investment opportunities in emerging high-tech industries that promote global urbanization and smart green living, leading the industry chain with key sectors such as smart cities, smart manufacturing, and renewable energy. Companies build close relationships and form a reliable asset portfolio. Zhilu Capital has an investment and international management team with a comprehensive background of industry and investment, and is committed to building a healthy ecosystem for the global technology industry.

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