LTPO OLED has been mass-produced and shipped, and OLED production capacity will be further released next year

Jiwei.com reported that "Next year, Visionox's AMOLED production capacity will be further increased, and it will take the lead in domestic LTPO OLED production capacity."

On December 23, Visionox held the 11th Extraordinary General Meeting of Shareholders in 2021. The participating shareholders discussed four proposals, including "Proposal on Providing Counter-Guarantee for the Controlling Subsidiary's Application for Bank Loans", "Proposal on Providing Counter-Guarantee for the Controlling Subsidiary's Comprehensive Credit Business", "Proposal on Providing Guarantee for the Holding Company's Financial Leasing Business", and "Proposal on Providing Guarantee for the Controlling Subsidiary's Financial Leasing Business".

As an institutional shareholder, Aijiwei attended the meeting and voted in favor of the above four proposals. After the meeting, the author exchanged views with Xu Fengying, secretary of the board of directors of Visionox, on the company's business development and other situations.

Visionox passed 4 resolutions

Visionox passed four proposals, namely, "Proposal on providing counter-guarantee for the controlling subsidiary's application for bank loans", "Proposal on providing counter-guarantee for the controlling subsidiary's comprehensive credit business", "Proposal on providing guarantee for the holding company's financial leasing business", and "Proposal on providing guarantee for the controlling subsidiary's financial leasing business".

Visionox's subsidiary Guoxian Optoelectronics plans to apply for a loan of no more than 500 million yuan from the Jiangsu Branch of the Export-Import Bank of China, and Kunshan Guochuang will provide a joint and several guarantee. After Visionox passed the "Proposal on Providing Counter-Guarantee for the Application of Bank Loans by the Subsidiary of the Controlling Company", it will provide counter-guarantee for Kunshan Guochuang.

Guoxian Optoelectronics plans to borrow 50 million yuan from the Bank of China, with Kunshan Chuangrong providing a guarantee. After Visionox passed the "Proposal on Providing Counter-Guarantee for the Comprehensive Credit Business of the Controlling Subsidiary", it will provide counter-guarantee for Kunshan Chuangrong.

Gu'an Yungu, a subsidiary of Visionox Holdings, plans to raise RMB 400 million in financing with Xinxin Leasing. After Visionox passes the "Proposal on Providing Guarantees for the Holding Company to Carry Out Financial Leasing Business", it will provide a joint and several liability guarantee for this purpose.

Visionox's holding subsidiary Gu'an Yungu plans to raise RMB 200 million from Jianxin Leasing. After Visionox passes the "Proposal on Providing Guarantees for Holding Subsidiaries to Carry Out Financial Leasing Business", it will provide full joint and several liability guarantee for this purpose.

Visionox's OLED production capacity will further increase next year

The market share of domestic OLED panels will continue to grow. The Omdia report pointed out that China's OLED panel market share is expected to rise from 15% in 2021 to 27% in 2022.

The continuously growing OLED penetration rate makes Xu Fengying very optimistic about Visionox's OLED market outlook for next year. She pointed out that Visionox's Hefei Gen 6 line entered mass production in August this year, and production capacity will gradually increase next year. Goshow Optoelectronics' Gen 5.5 line and Visionox's Gu'an Gen 6 line are expected to maintain high utilization rates next year.

Next year, Visionox's product line will be more abundant. Xu Fengying pointed out that from the perspective of application fields, Visionox is mainly in the mobile phone and wearable device application markets this year, with the mobile phone application market accounting for nearly 70% to 80% and the wearable device application market accounting for 20% to 30%. However, in the future, Visionox will also explore the medium-sized application markets such as tablet computers, notebook computers, and vehicles. At present, Visionox has realized the application on transparent A-pillars in the vehicle field, and will actively promote medium-sized applications in the future.

Next year, Visionox will make a breakthrough in the LTPO OLED market. Xu Fengying said that from the perspective of technological innovation, with the introduction of the iPhone 13 series, LTPO OLED has become a technology that mobile phone manufacturers have paid close attention to. In the era of 5G mobile phones, power consumption has increased significantly, and LTPO OLED technology with its low power consumption advantage has become one of the important choices for mobile phone manufacturers. Visionox's Hefei 6th generation line already has the ability to mass produce and ship LTPO OLEDs. According to the current production capacity plan, Visionox will maintain its advantage in domestic LTPO OLED production capacity next year.

Xu Fengying further added that in addition to LTPO OLED, Visionox has also reserved a variety of innovative technologies, such as COE, MLA, low-frequency LTPS, etc. At that time, Visionox will launch corresponding innovative products based on production line planning and market demand.