On December 17, 2024, Qingyi Photomask announced that it would inject ¥400 million (approximately $55 million) into its fully owned subsidiary, Foshan Qingyi Photomask Co., Ltd. (hereafter “Foshan Qingyi“), to meet the production and operational needs of the subsidiary and enhance its overall competitiveness. Following the capital increase, Foshan Qingyi’s registered capital will rise to ¥600 million (approximately $83 million).

Foshan Qingyi’s Operational Growth
Founded on September 4, 2023, Foshan Qingyi specializes in manufacturing display devices, integrated circuits, electronic materials, and engineering and technical research and development services. As of September 30, 2024, the subsidiary’s total assets amounted to ¥250.51 million (approximately $34 million), with net assets standing at ¥156.18 million (approximately $21 million).
As a key subsidiary of Qingyi Photomask, Foshan Qingyi plays a vital role in expanding the company’s production capacity and enhancing its competitiveness.
Strategic Expansion in Foshan
On December 15, 2023, Qingyi Photomask signed a cooperative agreement with the People’s Government of Nanhai District, Foshan to invest in the construction of a Foshan production base. The investment will focus on the development of high-precision photomasks and high-end semiconductor photomasks, with a total investment of approximately ¥3.5 billion (approximately $480 million).
The first phase of the high-precision photomask production base, led by Foshan Qingyi, is expected to involve an investment of ¥800 million (approximately $110 million), with ¥600 million (approximately $83 million) to be raised through public funds. This facility will mainly focus on the production of 8.6th generation and below high-precision photomasks, designed for a-Si, LTPS, AMOLED, LTPO, and Micro LED displays.
Enhancing Competitive Edge
The capital increase in Foshan Qingyi aligns with Qingyi Photomask’s overall strategic planning and long-term interests. It is expected to effectively meet the funding needs of Foshan Qingyi’s business development and further strengthen its market competitiveness.
Qingyi Photomask specializes in the research, design, production, and sales of photomasks. The company provides a-Si, LTPS, AMOLED, and Micro LED photomasks for the display sector, and IC Foundry, IC Bumping, and IC Substrate photomasks for the semiconductor industry, serving applications in power semiconductors, third-generation semiconductors, and LEDs.

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