Longhua Technology announced that it and Guangxi-based China Tin Group signed the ITO project cooperation framework agreement on 10 September, 2021 in order to boost rapid development of ITO target in display panel and photovoltaic fields and jointly expand and strengthen the ITO target whole industry chain. The two sides agreed to establish long-term strategic partnership and cooperate in construction of ITO project. Based on existing production bases, the two sides plan to invest RMB300 million (USD46.49 million) in the construction of a complete indium, tin, antimony, zinc and other non-ferrous metals deep processing new material information industry base with production bases in Liuzhou and Luoyang, and build a 100-billion photoelectric industry cluster integrating new-type display industry research and development, design, production, sales and service, centering on Guangxi, targeting Southwest China and expanding to ASEAN.