It is reported that Huacan Optoelectronics issued an announcement on November 6, announcing that it plans to raise an additional 2.084 billion yuan from BOE for Micro LED wafer manufacturing and packaging testing base projects and to supplement working capital. With the completion of this certain increase, the controlling shareholder of Huacan Optoelectronics will also be changed to BOE.
On November 7, both BOE and Huacan Optoelectronics disclosed research information and jointly answered questions related to this integration matter.
Regarding the introduction of BOE as the controlling shareholder of Huacan Optoelectronics, Guo Jin, chairman of Huacan Optoelectronics, said that the introduction of BOE as the controlling shareholder of Huacan Optoelectronics aims to comply with industry development trends and new trends in the industry's competitive environment, seize development opportunities in the high-end LED industry, further strengthen Huacan Optoelectronics' industrial layout in the field of Mini/Micro LED chips, consolidate and strive to expand market share and enhance market position.
Qi Zheng, Chief Strategy Officer of BOE, also said that from the perspective of industrial layout, this integration with Huacan Optoelectronics can achieve synergy in the core links of the industry chain, and at the same time build a full industry chain layout of substrate, epitaxy, chip, packaging, and application, which can greatly strengthen the influence of the industry, help the company build a large ecosystem of Internet of Things innovation, and further strengthen the core capabilities of ecological construction.
In addition to this fundraising to implement the Micro LED wafer manufacturing and packaging testing base project, Huacan Optoelectronics also completed a fixed increase of 1.483 billion yuan in 2020, including the "Mini/Micro LED R&D and manufacturing project". The project is expected to reach the scheduled usable status on May 31, 2023. (Compiled by LEDinside Lynn)
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