Changfang Group’s Mini LED project is expected to be put into production in early January

Recently, Changfang Group disclosed the latest progress of the company's Mini LED construction on the investor interaction platform. Changfang Group stated that the company’s Mini LED project is currently in the installation and commissioning stage of production equipment and is expected to be put into production in early January next year.

According to data, Changfang Group was established in 2005 and listed on the GEM of the Shenzhen Stock Exchange in 2012. The company is mainly engaged in LED lighting source devices, LED lighting products, electric fans, portable energy storage products and other businesses. The company's packaging products are mainly SMD LED lighting source devices; lighting application products mainly include off-grid lighting products such as flashlights, emergency lights, eye protection table lamps, and general lighting products such as bulbs and absorbent lamps.

In May this year, Changfang Group announced its investment in advanced LED packaging and MiniLED production expansion projects in Nanchang, Jiangxi. The project is expected to have a total investment of 2 billion yuan. The projects mainly include ultraviolet LED, infrared LED, full spectrum LED and MiniLED packaging, as well as bracket production.

Among them, the first phase of the project will first relocate 330 production lines of the Huizhou factory to Nanchang Industrial Park, where they will be produced and operated by Jiangxi Changfang Semiconductor Technology Co., Ltd. (project company). In the later stage, the Mini LED packaging business will be carried out by adding new packaging product equipment. After reaching production, it is expected to increase the high-end packaging production capacity by 2500KK/month, and the annual output value is expected to reach 2 billion yuan.

Changfang Group stated that this project will help expand new business ideas, improve the company's market competitiveness, and cultivate new profit growth points for the company.

It is worth noting that since 2018, Changfang Group has continued to suffer losses. In May this year, Changfang Group was issued a delisting risk warning and other risk warnings, and its stock abbreviation was changed from "Changfang Group" to "*ST Changfang". According to the new delisting regulations, companies that have been issued a delisting risk warning (*ST) will be terminated from listing if their second-year annual report continues to hit the delisting indicator.