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Company News >> 92.5 billion! BOE Announces Investment in Chongqing 6th Generation Flexible AMOLED/Wuhan 10.5th Generation Panel Project
In the Internet of Things era, the display is everywhere. In response to the growing demand for flexible displays and large-scale ultra-high-definition displays, global semiconductor display giant BOE (BOE) has accelerated the deployment of related production lines.
On March 8, 2018, BOE Technology Group Co., Ltd. issued an announcement to invest in the construction of the 6th-generation flexible AMOLED production line in Chongqing and the construction of the 10.5th thin-film transistor liquid crystal display device (TFT-LCD) production line in Wuhan.
According to the announcement, BOE (BOE) Chongqing's sixth-generation AMOLED (flexible) production line project has a total investment of 46.5 billion yuan. The total designed production capacity is 48,000 glass substrates per month, and the size is 1500mm × 1850mm. The products are mainly used in mobile phones and on-board products. Flexible display products such as foldable notebooks are expected to be put into production in 2020. This is the third production line for BOE (BOE) flexible display layout.
AMOLED flexible display technology has excellent performances such as self-luminous, wide viewing angle, fast response time, high luminous efficiency, and thin and light, and it also achieves a breakthrough flexible display in a full-screen mobile phone, a collapsible laptop, a curved display, and a wearable. New areas such as equipment and high-end vehicles have vast application space. IHS data shows that in 2017, the flexible AMOLED panel market grew from US$3.5 billion in 2016 to US$12 billion, with a growth rate of 250%. In 2017-2021, the compound annual growth rate of flexible AMOLED is 22%. Another data show that by 2022, it is expected that flexible AMOLED will account for 68.9% of the market demand for small and medium size semiconductor products.
At present, BOE (BOE) has placed two 6th-generation flexible AMOLED production lines in Chengdu and Mianyang. Chengdu Flexible 6th-generation line has been mass-produced; Mianyang Flexible 6-generation line has been completed and is expected to be mass-produced by 2019. The 6th-generation flexible AMOLED production line in Chongqing will create synergies with Chengdu and Mianyang 6th-generation flexible AMOLED production lines to further increase the global competitiveness of BOE (BOE) in the flexible AMOLED field and even the semiconductor display industry.
On the same day, BOE (BOE) also issued an announcement to build a 10.5-generation thin-film transistor liquid crystal display device (TFT-LCD) production line in Wuhan, Hubei Province. The total investment of the project is 46 billion yuan. The designed capacity is 120,000 glass substrates per month and the size is 2940mm×3370mm. It is used to produce 65-inch and 75-inch 4K/8K and 60Hz/120Hz TV panel products. With the adoption of 8K broadcasting in the international large-scale sports events as an opportunity, ultra high-definition and large-size have become important trends in the display field. BOE (BOE) Wuhan 10.5 generation line will further effectively fill the market gap of ultra-large size ultra-high definition display products and meet the growing demand for high-performance display products from consumers.
In addition, in order to implement the Internet of Things strategy, comply with and grasp the development trend of smart manufacturing and the market demand for smart terminals of the Internet of Things, and realize the transformation and upgrading of the services of intelligent services, BOE A also plans to invest in Suzhou City to build the BOE (Suzhou) Industrial Park. It is understood that this project includes BOE (Suzhou) Zhizhi Service Industrial Park Project (hereinafter referred to as “Zhizhi Service Industrial Park Project”) and other industrial projects that are started in due course. The total investment of BOE (Suzhou) Zhizhi Service Industrial Park is RMB 4.023 billion.
BOE A expects to achieve a net profit of RMB 7.5 billion to RMB 7.8 billion in 2017.
BOE Technology Group Co., Ltd.
Announcement on the Investment and Construction of Chongqing 6th Generation AMOLED (Flexible) Production Line Project and Related Transactions
BOE Technology Group Co., Ltd. (hereinafter referred to as "the company") plans to invest 46.5 billion yuan to build a sixth-generation AMOLED in Chongqing's Liangjiang New District in order to better comply with the development trend of flexible display technology and grasp the market opportunities for AMOLED display products. ) The production line project (hereinafter referred to as “the project”), the main product positioning for AMOLED high-end mobile phone display and emerging mobile display products.
I. Overview of related transaction
1. Chongqing Haozi Opto-electronics Industry Investment Co., Ltd. (hereinafter referred to as “Zhenzi Optoelectronics”) is one of the investment platforms designated by the Chongqing Municipal People's Government. It is a related legal person of the company and the company’s joint investment with Haozi Optoelectronics constitutes a related party transaction.
2. The aforesaid matters have been reviewed and passed at the 23rd meeting of the 8th Board of Directors of the company and are still subject to the approval of the general meeting of shareholders. The related parties who are interested in the related transactions will abstain from voting at the general meeting of shareholders on the resolution.
3. The independent directors of the company have previously approved this related transaction and issued their opinions.
4. This related transaction does not constitute a major asset reorganization as stipulated in the Administrative Measures for Major Asset Restructuring of Listed Companies. It does not constitute a backdoor and does not require the approval of relevant departments.
Second, the basic situation of the project
1. Project Name: Chongqing 6th Generation AMOLED (Flexible) Production Line Project
2. Project Company Name: Chongqing BOE Display Technology Co., Ltd.
3. Construction site: Chongqing Liangjiang New District
4. Land area: 1,009.34 mu
5, the main products: mobile phones, car and folding notebooks and other flexible display products
6, the glass substrate size: 1,500mm × 1,850mm
7, design capacity: 48K / month
8. Project construction period: 28 months
9. Total investment of the project: 46.5 billion yuan (based on the project feasibility study report and/or application report finally approved). The registered capital of the project company is 26 billion yuan, of which 16 billion yuan will be raised by the Chongqing Municipal People's Government and/or its designated investment platform. The company will be responsible for raising 10 billion yuan.
The difference between the total investment of the project of 46.5 billion yuan and the project company’s registered capital of 26 billion yuan will be solved through external financing, and it will ensure that the project company’s fund demand plan is timely and fully in place.
10, the basic situation of the project company
(1) Company Name: Chongqing BOE Display Technology Co., Ltd.
(2) Company type: limited liability company
(3) Established: July 20, 2017
(4) Registered capital: 26 billion yuan (according to the project needs to gradually increase capital in place)
(5) Company residence: No. 123, No. 117 Yunhan Road, Beibei District, Chongqing City
(6) Legal Representative: Liu Xiaodong
(7) Business Scope: R&D, production, and sales of semiconductor display device related products and related products; import and export of goods and technology import and export (except for products and technologies that are restricted or prohibited by the state's operations or prohibited); display devices and components, and other Electronic components, and technology development, technology transfer, technical consulting, technical services related to display devices, electronic products (excluding electronic publications), corporate management consulting, property management (excluding first-rate property management), housing leasing; Machinery and equipment leasing.
(8) Ownership structure: The company contributed 10 billion yuan, accounting for 38.46% of the total; Chongqing Municipal People's Government plans to designate the Chongqing strategic emerging industries equity investment fund partnership (limited partnership), Chongqing Liangjiang New District Chengxin enterprise management partnership Enterprises (Limited Partnerships) and Haozi Optoelectronics invested a total of RMB 16 billion as the investment platform for this project, accounting for approximately 61.54% of the total. (Chongqing Municipal People's Government specific investment platforms and the proportion of their respective capital contributions are separately confirmed by relevant government documents at the time of investment, subject to commercial registration.)
11. Project governance structure of the company
(1) Shareholders' meeting of the project company The project company has a shareholder meeting, which is composed of all shareholders and is the authority of the project company. Shareholders' meetings shall be voted by the shareholders in proportion to the capital contribution.
(2) Project company board of directors The company's board of directors consists of 5 directors, of which 2 are appointed by the company, Chongqing Strategic Emerging Industry Equity Investment Fund Partnership (Limited Partnership) and Chongqing Liangjiang New District Chengxin Enterprise Management Partnership (Limited Partnership) Appoint one, one employee director. Directors are elected by the project company’s shareholders’ meeting.

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