Chinese LED manufacturer Leyard Optoelectronic (Leyard) is showing ambition to expand in the European market with its latest funding round, according to a Shanghai Stock Information Service report.

The company’s Hong Kong branch recently signed a Working Capital Expansion Contract with Jozef Duenka and LEDEKON and will be investing EUR 400,000 (US $ 54,421.40), while Jozef Duenka will be pitching in EUR 95,000. Leyard Hong Kong, Jozef Duenka and LEDEKRON will be having respectively 80 percent, 19.2 percent and 0.8 percent stake in the new company. Leyard Europe’s registered investment capital will reach EUR 500,000 after the financing is completed.

Leyard Europe will be situated in Presov Region in Slovakia, according to public info. The subsidiary’s main business will be in LED display equipment R&D, manufacturing and sales. The Europe branch was formerly known as Tausito, which transferred licenses to Leyard last June. The company has since been renamed as Leyard Europe. According to understanding, Jozef Duenka has worked in close partnership with Leyard over the years to promote LED displays in the European market.

In response to recent developments, Leyard responded the new Europe branch could help it open up the European market. The company would also be able to cooperate with other European companies, and acquire firsthand regional market information. Investing in a European company is also an important international strategy for the company.