November 28, 2019--- Advanced Fiber Resources (Zhuhai) Ltd.(hereinafter referred to as "AFR"）has signed an asset purchase agreement with Lumentum Holdings Inc., as well as its subsidiary (hereinafter referred to as "Lumentum" or "seller") to acquire certain seller's assets relating to the LiNbO₃ high-speed modulator product line at San Donato, Italy and its foundry for $17 million.

Lumentum is one of the companies spun off from JDSU in 2015. JDSU was formed by the merger of JDS Fitel and Uniphase in 1999. As the world's leading provider of optical communication products, consumer markets and industrial lasers, headquartered in San Jose, California with R&D, manufacturing and sales offices around the world, Lumentum is committed to providing innovative OE products to enhance the scale and speed of cloud computing, Internet, high-end manufacturing and 3D sensing applications. With its own OE expertise, Lumentum manufactures high-performance commercial lasers. Its innovative OE product portfolio is able to achieve agility, flexibility and high-speed throughout the communication network to meet more and more data communication needs, which are processed and stored in large data centers across the network.

Through the asset acquisition, AFR will make full use of the market opportunities and technical capabilities of LiNbO₃ series high-speed optical modulator chips and devices in the field of communication and sensing, enlarging and leading the market of carrier-class LiNbO₃ series high-speed optical modulator chips and devices, expanding the production scale and enriching the product line by utilizing its competitive advantages of technology development, quality control, market development, cost control and other aspects.