China-based LCD panel maker HKC is applying for listing on ChiNext market under the Shenzhen Stock Exchange to raise CNY9.5 billion (US$1.42 billion), according to industry sources.
HKC invested CNY24 billion to set up its first 8.6G LCD line in Chongqing, China in 2015, and has since built another three 8.6G lines, with the one in Changsha coming into operation in April 2022.
The funds to be raised via IPO will be used to enhance R&D of medium- to large-size OLED panels and expand production capacity for miniLED fine-pitch displays and miniLED-backlit LCD panels for smartphones, notebooks and TVs at the Changsha plant, integrate R&D with production for oxide TFT technology at its Mianyang plant, and develop IoT-based smart display solutions.
At the Mianyang line, HKC will set up monthly production capacity 12,000 glass substrates for large-size oxide TFT-LCD panels.
HKC has developed a few technology items, mainly oxide TFT, current-type backplanes, and 8.6G oxide RGB OLED backplanes.
China-based panel maker BOE Technology in June 2021 acquired a 2% stake in HKC for strategic partnership in assembly of LCD displays and TVs. BOE has three flexible OLED panel production lines and has fully utilized production capacities at two of them and is undertaking trial production at the third.
BOE shipped about 60 million flexible OLED panels in 2021, hiking nearly 60% on year. According to forecast by Omdia, BOE will ship 100 million flexible OLED panels in 2022. Besides, BOE has begun production of miniLED-backlit panels for AOC, Skyworth and Konka.
China-based panel maker CSOT has fully utilized first-phase production capacity for flexible OLED panels at a factory in central China and is expanding the capacity in the second phase with operation to begin by the end of 2022.
CSOT has developed high-end LCD panels with refresh rates of 165-240Hz.
