It is reported that Jucan Optoelectronics' "Mini/Micro LED chip R&D and manufacturing expansion project" was established in 2022, with a total investment of 1.55 billion yuan, and plans to use 1.082 billion yuan of raised funds. The project has a planned annual production capacity of 7.2 million pieces.
As of December 31, 2023, the Mini/Micro LED chip project has invested 651,100 yuan in raised funds, and the remaining raised funds are 1,080,899,100 yuan. After this change, the project plans to use raised funds of 282 million yuan.
The newly added red and yellow light epitaxial wafer and chip projects are implemented by Jucan Optoelectronics Technology (Suqian) Co., Ltd., and the construction period is
In 24 months, the total planned investment of the project is 1.05 billion yuan. The project plans to use the production base of Jucan Optoelectronics Technology (Suqian) Co., Ltd. and purchase MOCVD and related supporting equipment to form GaAs-based epitaxial wafer production capacity. The GaAs-based epitaxial wafers produced will mainly be used to produce GaAs-based chips.
After the completion of the project, it is expected that the average annual revenue will reach 613 million yuan, the average annual total profit will be 117 million yuan, the average annual net profit will be 99.6207 million yuan, and the after-tax internal rate of return will be 12.96%.
Regarding the decision to raise new investment projects this time, Jucan Optoelectronics said that the company specializes in GaN-based blue-green LED epitaxial wafers and chips and has become one of the leading domestic LED chip companies. Due to the company's lack of GaAs-based red and yellow LED chip product layout, the company's competitive advantage in the rapidly growing display market segments such as Mini/Micro LED new displays is not outstanding.
Image source: Jucan Optoelectronics
With the continuous development of downstream application fields, GaAs-based LED chips are widely used, demand is increasing, and the market potential is huge. In order to comply with industry development trends and new trends in the industry's competitive environment, the company has further strengthened the industrial layout of GaAs-based LED chips based on the existing industrial layout.
Through the construction of this fundraising project, Jucan Optoelectronics will further improve the existing product structure, enhance the supporting supply capabilities of GaN-based blue-green light chips and GaAs-based red-yellow light chips, and expand the rapidly growing display market segments such as Mini/Micro LED new displays; use the advantages and synergies of full-color LED chip production and sales to better meet the needs of the downstream market.
Information shows that Jucan Optoelectronics is mainly engaged in the research and development, production and sales of compound optoelectronic semiconductor materials. Its main products are GaN-based high-brightness LED epitaxial wafers and chips. In 2023, Jucan Optoelectronics will achieve revenue
2.481 billion yuan, a year-on-year increase of 22.30%; net profit attributable to the parent company turned a loss into a profit, reaching 121 million yuan.
During the reporting period, Jucan Optoelectronics' LED chips and epitaxial wafers achieved a total revenue of 1.262 billion yuan, accounting for 50.87% of revenue, and a gross profit margin of 18.21%. The annual LED chip production in 2023 will be 21.74 million pieces, an increase of 14.78% from 18.94 million pieces in 2021.
With the establishment of the GaAs-based red and yellow light chip project, Jucan Optoelectronics' LED chip product portfolio will be further expanded in the future, adding new momentum to the continued growth of Jucan Optoelectronics' performance.
ANNA