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On August 8, GoerTek announced that its holding subsidiary, GoerTek Tek Hong Kong, plans to extend a five-year, interest-bearing loan of up to USD 100 million to Haylo, with the inclusion of equity income rights. This financial support is intended to accelerate the maturation of Micro-LED technology and products, thereby bolstering GoerTek's AI smart glasses and AR augmented reality business. Haylo intends to utilize these funds to acquire 100% of the equity in Plessey Semiconductors Limited, as well as to augment its capital for purchasing Micro-LED-related fixed assets and reinforcing its working capital. Plessey, a globally esteemed microdisplay technology company, is expected to significantly benefit GoerTek's related ventures through this acquisition.
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