Zhejiang Hongshi Optoelectronics Technology Co., Ltd. is actively advancing its project for the annual production of 10 million Micro LED microdisplay chips. The project is expected to be completed by June 2025 and will enter production in the second half of the year.
Project Overview
According to Liu Bo, the onsite project manager, the total investment for this project is $17.5 million, with a land area of 80 acres. The first phase of construction covers approximately 31 acres and will focus on the establishment of a manufacturing and packaging base for Micro LED chips. Once operational, the project is expected to generate $35 million in revenue, $11 million in profits, and $3.4 million in taxes.
Background of Hongshi Intelligent Technology
Zhejiang Hongshi Optoelectronics Technology Co., Ltd. is a wholly-owned subsidiary of Hongshi Intelligent Technology Co., Ltd. (hereinafter referred to as “Hongshi Intelligent”). Founded in 2017, Hongshi Intelligent has focused on the research and development (R&D) and manufacturing of Micro LED microdisplay chips. In 2020, Hongshi Intelligent initiated a technological transformation and industry upgrade, establishing a partnership with the Institute of Optics and Electronics of the Chinese Academy of Sciences (CAS). The company also built a nearly 100-person R&D team in high-tech hubs such as Shenzhen, Shanghai, and Suzhou.
Technological Advancements and Capabilities
Hongshi Intelligent has developed core technologies and patents in areas such as 8-inch silicon-based metal bonding, quantum dot conversion, full-color single-chip/three-chip technology, and micro-lens arrays. The company possesses the capability to design optical devices, modules, and the entire production chain.
At the 2024 TrendForce Self-Emissive Display Industry Forum, Liu Yi, Vice General Manager of New Market Development at Hongshi Intelligent, emphasized the company’s unique advantages in Micro LED microdisplay technology. Hongshi Intelligent’s Micro LED technology is already widely used in multiple sectors, including AR glasses, micro-projection, smart car lights, 3D printing, and digital lighting. The company is one of the few in the industry that is expected to ship over 10,000 units by 2024.
R&D Investment and Market Development
In the past four years, Hongshi Intelligent has invested over $1.7 million in R&D and successfully achieved mass production of Micro LED microdisplay chips in June 2024. Following the announcement of mass production, the company received nearly $5.5 million in potential orders.
Product Offerings
Hongshi Intelligent’s Aurora series of products includes three sizes: 0.12 inches, 0.61 inches, and 0.69 inches. The Aurora A6 is the world’s brightest 0.12-inch Micro LED microdisplay chip, featuring a resolution of 640×480 and a brightness of 8 million nits. The product offers multiple interface versions, including MIPI, SPI, and QSPI.
Funding and Future Plans
Currently, Hongshi Intelligent has completed its Angel Round and Pre-A Round financing, and it is actively advancing its A Round equity financing. The company plans to continue increasing its R&D investment and production line construction in order to break through technical bottlenecks and solidify its position in the Micro LED microdisplay field.
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