Mini/Micro LED technology is gaining momentum, with this year being marked as the first year of mass production for Micro LED. As companies like AUO begin mass production of Micro LED products, the commercialization process is rapidly accelerating. Widely regarded as the ultimate display technology, Micro LED is expected to replace some existing display solutions and capture a trillion-dollar market in the future. Since the beginning of this year, investments in Mini/Micro LED have surged. This article summarizes the investment and financing activities of 26 companies, with over 73.2 billion yuan pouring into the sector (as of July 7).
Key Investments and Expansions in Mini/Micro LED
Major Project Launches
- January 2023: Vogel Optoelectronics commenced its Mini LED and high-end LCD backlight module industrial park project with a total investment of $276 million (2 billion yuan).
- February 7: BOE launched its sixth-generation semiconductor display device production line project in Beijing’s Economic and Technological Development Zone, investing $4 billion (29 billion yuan) to produce high-end products like VR panels and Mini LED backplanes.
- February 15: The first phase of Chuan Yue Optoelectronics’ Mini LED display module manufacturing project began in Yongji City, Shanxi Province.
- February 25: Lian Da Optoelectronics, a subsidiary of Xinruida, broke ground on its Mini/Micro new display industrial base in Hefei High-tech Zone, with a total investment of $41 million (300 million yuan).
- February 2023: Zhongshan Zhouming established its Intelligent Manufacturing Base, focusing on Mini/Micro LED production.
- February 18: Xinshi Tong started its Mini/Micro LED display screen production base project, with a total investment of $138 million (1 billion yuan). The project includes three phases, with the first two focusing on Mini LED screen production and the third on advanced packaging and Micro LED screens.
- March 28: Meiyadi launched its outdoor full-color screen and Mini LED display project.
Fundraising Efforts by 16 Companies to Develop Mini/Micro LED
This year, many companies have secured funding to expand their Mini/Micro LED operations. Notable among them are Lehman, Jucan, and Huacan Optoelectronics, along with cross-border companies entering the space.
- January 2: Lehman Optoelectronics announced that its issuance of A shares to specific investors had been approved by the Shenzhen Stock Exchange, raising up to $95 million (689 million yuan) for its ultra-high-definition display renovation and expansion project.
- January 31: Jucan Optoelectronics’ application for a fixed increase was approved by the CSRC, aiming to raise up to $166 million (1.2 billion yuan) for the development of Mini/Micro LED chips.
- February 10: Huacan Optoelectronics’ plan to raise $288 million (2.084 billion yuan) was accepted, with $241 million (1.75 billion yuan) allocated for its Micro LED wafer manufacturing and packaging test base project.
- May 2023: Shengyin Optoelectronics, a micro-nano technology platform, completed a Series A financing of over $13.8 million (100 million yuan). The funds will be used for equipment investment in precision circuit boards and technology R&D.
- May 9: Nanjing Guanhai Microelectronics raised tens of millions of yuan in B+ round financing to strengthen its OLED, Micro LED, and other technology R&D, expand product lines, and increase market influence.
- June 12: Shanghai Xianyao (JBD) completed A3+ and A4 round strategic financing worth hundreds of millions of yuan, with Alibaba as an investor. The funds will be used for Micro LED core technology R&D, product mass production, and market expansion.
- July 3: Aispu Optoelectronics completed a round of financing to accelerate the industrialization of Mini LED/Micro LED packaging technology.
Companies Accelerating Mini/Micro LED Industrialization through IPOs
Four companies have taken steps towards IPOs to accelerate the industrialization of Mini/Micro LED.
- March 2: Jiangxi Weiergao Electronics Co., Ltd. moved forward with its IPO, raising $82.9 million (601 million yuan) to boost mass production capabilities in high-end Mini LED displays.
- March 4: Beijing Kangmeite Technology Co., Ltd. submitted its application for listing on the Science and Technology Innovation Board of the Shanghai Stock Exchange. The IPO aims to raise $51 million (370 million yuan) for semiconductor packaging material industrialization projects.
- May 24: The CSRC approved Xi’an Nova Nebula Technology Co., Ltd.’s registration application for its IPO, which raised over $149 million (1.085 billion yuan) to support Mini/Micro LED industrialization projects.
- July 7: Jingzhida began its IPO process on the Shanghai Stock Exchange Science and Technology Innovation Board, aiming to raise $82.8 million (600 million yuan) for R&D in Micro LED testing equipment.
Conclusion
In total, more than $10 billion (73.2 billion yuan) has been invested in the Mini/Micro LED field this year alone, reflecting a surge in enthusiasm and investment! Giants like BOE and Alibaba are accelerating the commercialization of Mini/Micro LED technology. According to industry experts, the key to seizing the market in this field lies in capturing the glass substrate and chip sectors. Some companies are already investing in these areas, while others are developing the entire industry chain to gain a pricing advantage in future competition.
With China on par with international standards and boasting a comprehensive industrial foundation, the focus now shifts to breaking technological bottlenecks and leading globally. The 2023 Micro Display Industry Conference will explore these exciting developments.
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