About HKC
On October 18, an investment agreement signing ceremony for HKC‘s Mini LED project occurred in Chengdu. Mianyang City and HKC Co., Ltd. signed a contract for a $14 billion investment in Mini LED and high-power chip thermal packaging projects. HKC is one of China’s leading manufacturers of large-size LCD panels, focusing on semiconductor display core components and smart IoT integrated services. According to Qunzhi Consulting, HKC ranked third in global shipments of LCD TV panels, fifth in monitor panels, and third in smartphone panels in 2023.
Project Overview
The Mini LED project in Mianyang will primarily produce high-end Mini LED direct display modules and backlight modules, widely applicable in monitors, smartphones, tablets, and automotive displays. The high-power chip thermal packaging project will cater to sectors such as semiconductor displays, new energy, automotive electronics, and communication technology, serving as a vital upstream industry for new displays and automotive electronics. Once fully operational, these projects are expected to achieve an annual output value of $14 billion.
Strengthening Ties with Sichuan
In recent years, HKC has frequently interacted and cooperated with Sichuan, particularly establishing a solid foundation in Mianyang. This marks HKC’s third agreement with Mianyang.
Previous Agreements
- The first agreement, signed on April 18, 2018, involved a total investment of $34 billion for the 8.6-generation thin-film transistor liquid crystal display production line, which began production on April 29, 2020. Since the establishment of the HKC Optoelectronics project, the company has invested nearly $43 billion in Mianyang, with a projected output value of $41 billion for this year.
- The second agreement was signed on January 9, 2021, with an investment of $7 billion for the HKC display module project, which started production on March 28, 2023.
Project Impact
The new Mini LED project and high-power chip thermal packaging project, with a combined investment of $14 billion, will produce high-end Mini LED direct display modules, backlight modules, and thermal packaging products. Once fully operational, they are expected to generate an annual output value of $14 billion and tax revenue of $0.9 billion.
The signing of the HKC Mini LED project further underscores the company’s confidence in investing in Mianyang and signifies Mianyang’s success in building a display panel matrix represented by OLED, LCD, and Mini LED technologies, boasting three display panel factories. Compared to traditional LED technology, Mini LED offers higher brightness, lower power consumption, narrower beam width, and higher color saturation, revolutionizing the display industry with extensive applications in monitors, smartphones, tablets, and automotive displays.
The high-power chip thermal packaging project produces products widely used in semiconductor displays, new energy, automotive electronics, and communication technology, enhancing the lifespan of Mini LED display devices with efficient thermal systems and serving as a crucial upstream industry for new displays and automotive electronics.
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