On January 2, a major project commencement ceremony for the first quarter of 2025 was held in the South Lake Knowledge Lake Area of Jiaxing, Zhejiang, China. A total of 20 projects were launched, with a total investment exceeding ¥10 billion (approximately $1.4 billion). Among them, 16 projects are valued at over ¥100 million (approximately $14 million), and 5 projects exceed ¥1 billion (approximately $140 million).


One of the key projects is RayNeo‘s Micro LED full-color light engine production line, which is expected to produce 1.2 million Micro LED light engines per year.
In September of last year, RayNeo Optical’s R&D and manufacturing headquarters officially signed a contract to settle in the Jiaxing South Lake area. This headquarters will focus on several key areas, including optical R&D, optical module design, optical module processes, and automation equipment development. The RayNeo Optical project R&D center will carry out research and development in optical simulation, optical module design, process innovation, and automation technology. The optical module production line is expected to have an annual production capacity of 1.05 million optical modules.
Additionally, in August of last year, RayNeo Innovation signed a cooperation agreement with the city of Wuxi, setting up a RayNeo XR full-device R&D and manufacturing headquarters in the Huishan Economic Development Zone, with a total investment of ¥1 billion (approximately $140 million).
This project aims to develop an XR full-device R&D center, an XR production line, and a Metaverse Ecological Development Center, with the first phase expected to be completed and put into production by the first half of 2025. After the first phase reaches full capacity, the XR product line is expected to achieve an annual output of about 350,000 units. The project is expected to reach full production within five years, with an annual output of 1 million XR devices and an annual output value of over ¥2 billion (approximately $280 million).

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