On December 28, Qianzhao Optoelectronics issued an announcement announcing that the company had recently received the "Approval for the Registration of Shares Issued by Xiamen Qianzhao Optoelectronics Co., Ltd. to Specific Objects" issued by the China Securities Regulatory Commission, agreeing to issue shares to specific objects. Application for registration of shares.
It is reported that Qianzhao Optoelectronics announced on November 18, 2020 that it plans to raise funds not exceeding 1.5 billion yuan, which will be invested in Mini/Micro, high-efficiency LED chip research and development and manufacturing projects and supplementary liquidity overview projects, and plans to raise funds. The investment amount is 1.15 billion yuan and 350 million yuan respectively.
Among them, the "Mini/Micro, high-efficiency LED chip research and development and manufacturing project" will take Jiangxi Qianzhao Optoelectronics Co., Ltd. as the main body of implementation, and the implementation site will be Changhou Industrial Park, New District, Nanchang City, Jiangxi Province. After the project is completed, a total of 6.36 million pieces of Mini LED BLU, Mini LEDGB, Micro LED chips, and high-efficiency LED chip production capacity will be added annually.
Qianzhao Optoelectronics stated that the project aims to seize the opportunities of Mini/Micro LED industrialization, conform to the development trend of the LED lighting industry, expand the production capacity of Mini/Micro, high-efficiency LED chips, optimize the product structure, and enhance the company's comprehensive competition level. Meet the needs of sustainable development.
The "Supplementary Liquidity Overview Project" intends to use the raised funds of 350 million yuan to supplement the liquidity to supplement the liquidity required for the company's normal operations, reduce the company's debt-to-asset ratio and financial expenses, and enhance the ability to resist risks.
Qianzhao Optoelectronics said that the LED chip industry has a large capital occupation. In recent years, due to fierce market competition, product prices have fallen sharply. The company is affected by the comprehensive market environment, and the working capital required for daily operations has also increased. After the implementation of the "Mini/Micro, high-efficiency LED chip R&D and manufacturing project" in the future, the corresponding R&D investment, accounts receivable, inventory, and related market development, human expenditure and other working capital requirements will continue to increase, and the business scale The rapid expansion of China urgently needs to increase supporting working capital.
