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Visionox to invest USD 1.6 bln in new AMOLED plant in Guangzhou

CKN
minutes 2019/08/12 12:37:28
1,915
Visionox to invest USD 1.6 bln in new AMOLED plant in Guangzhou

Aug 12, 2019 (China Knowledge) - Visionox Technology (002387) plans to invest RMB 11.2 billion (USD1.6 billion) in a factory located at Guangzhou which will develop the sixth-generation flexible active-matrix organic light-emitting diodes (AMOLED).

Visionox is the first supplier of OLED products in mainland China. Based on the OLED technology of Tsinghua University, it has become the major provider of high-end displays for many smartphone makers. The company has production lines for AMOLED panels in Kunshan city of Jiangsu Province and is building new ones in Hefei city, Anhui Province.

The company is setting up the joint venture with a registered capital of RMB 5.6 billion in Zengcheng district, Guangzhou. It will be held by a state-owned firm designated by the local government and an investment entity appointed by Visionox, holding about 82% and 18% of the equity respectively.

The plant will conduct R&D and produce and sell AMOLED modules to meet rising demand from smartphone display makers in the Pearl River Delta. As Pearl River Delta region is the home to many high-tech firms like Xiaomi and ZTE, the Guangzhou based new factory will help Visionox form long-term and stable relations with those smartphone manufacturers in that region. 

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