On December 12th, the China-Saudi Investment Conference was successfully convened in Beijing. At the summit, Mr. Li Fei, Deputy Minister of China’s Ministry of Commerce, and Khalid Al-Falih, the Minister of Investment of Saudi Arabia, engaged in discussions about the cooperation between China and Saudi Arabia. They also jointly oversaw the signing of over 60 memoranda of understanding and agreements in various sectors, including clean energy, the digital economy and artificial intelligence, and high-end manufacturing.
Ms. Li Nannan, a board director of Leyard Group, Vice General Manager of Leyard Optoelectronic, and Board Secretary, attended the conference by invitation. Leyard signed a memorandum of cooperation with the Saudi Investment Ministry and Saudi Engineering Holding Group. The partnership aims to establish a joint venture that will bring China’s advanced LED display technology and high-end manufacturing capabilities to Riyadh, Saudi Arabia.
On December 13th, the Vice President of Saudi Engineering Holding Group and another representative visited Leyard Group. They engaged in in-depth discussions with Ms. Li Nannan, Board Secretary of Leyard, and Mr. Chen Jian, Chairman of Leyard Linso Technology, regarding specific details of future cooperation.
This partnership signifies a new milestone in the bilateral engagement between Leyard China and Riyadh Saudi Arabia. On one hand, the Saudi Investment Ministry is facilitating strong collaborations between Saudi and Chinese enterprises, with Leyard making inroads into Riyadh to support the upgrade of the local high-end manufacturing industry. On the other hand, Saudi capital is also accelerating its strategic deployment in China, aiming to expand its investment footprint in Asia.
In line with the national “Belt and Road Initiative” and to enhance its global strategic positioning, Leyard has been intensifying its market expansion efforts in Asia, Africa, and Latin America since 2021. We had made notable progress in team building and product development. In the first three quarters of 2023, Leyard’s revenue from intelligent display solutions in Asia, Africa, and Latin America reached 446 million yuan, marking a 47.95% increase year-on-year. Leyard’s products have been extensively implemented in landmark projects such as Saudi Aramco, the Saudi National Pavilion at the Dubai Expo, the Qatar World Cup, the ArtScience Museum at Marina Bay Sands in Singapore, television studios in Thailand, Mall Kelapa Gading in Indonesia, and the National Museum of Egypt,etc. Through these stories in countries and regions involved in the Belt and Road Initiative, Leyard has crafted numerous iconic cases and contributed to the creation of new urban landmarks.
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