Core Viewpoint - The company, Visionox Technology Co., Ltd., has signed a partnership agreement to establish a new equity investment fund with a total scale of 818 million yuan, aimed at investing in its subsidiary, Kunshan Guoxian Optoelectronics Co., Ltd., through a debt-to-equity swap [1][3]. Fund Structure - The newly established fund is structured as a limited partnership, with ICBC Capital as the general partner and fund manager. The investment contributions are as follows: New Emerging Fund contributes 613 million yuan (74.94%), Visionox contributes 204 million yuan (24.94%), and ICBC Capital contributes 1 million yuan (0.12%) [2]. - The fund will have a duration of 6 years, consisting of a 3-year investment period and a 3-year exit period, with the possibility of annual extensions if investments are not exited [2]. Investment Focus - The fund will utilize a debt-to-equity swap to repay existing bank loans of Guoxian Optoelectronics, aligning with national policies aimed at reducing corporate leverage [3]. - An investment decision committee will be established, comprising two members from ICBC Capital and one from Visionox, to oversee investment, exit, and profit distribution decisions [3]. Strategic Value - The investment is expected to enhance the company's asset scale, improve equity financing ratios, and reduce overall debt ratios, thereby strengthening core competitiveness and sustainable development capabilities [4]. - The funding will come from the company's own resources, ensuring that operational capital needs are met without significantly impacting financial status or operational results [4].

9月23日，维信诺发布公告称，公司2025年4月与昆山经开区管委会签署协议，拟在昆山开发区投 资建设昆山全球新型显示产业创新中心项目，项目投资总额预计约50亿元。 鉴于上述事项，公司拟与昆山唯信联合投资有限公司（简称"昆山唯信"）签署《昆山全球新型显 示产业创新中心项目投资合作协议》，双方拟合作投建昆山全球新型显示产业创新中心项目，投 资、建设、研发、生产和销售新型显示及泛半导体相关产品服务及技术创新成果转化。 为推进项目进度之需要，双方拟以公司在协议签署前已在昆山设立注册的全资子公司苏州国显创新 科技有限公司（简称"苏州国显"）作为项目公司，开展项目相关前期工作。此次投资合作协议签 署后，双方将以共同增资或其他合法方式对项目公司进行注资。 项目公司注册资本金20亿元，其中公司及公司指定主体出资10.02亿元，占比50.1%；昆山唯信 及其指定主体出资9.98亿元，占比49.9%。增资事项完成后，苏州国显仍为公司控股子公司。 维信诺表示，本次合作，在技术创新方面，将推动未来显示技术创新突破，推动AMOLED在消费 电子、车载显示、虚拟现实、医疗探测等各种应用场景加速渗透；在产业发展方面，将进一步推动 新型显示 ...

Group 1 - The core point of the article is that Visionox has signed an investment cooperation agreement with Kunshan Weixin to establish the Kunshan Global New Display Industry Innovation Center project, with a total investment of approximately 5 billion yuan [1] - The registered capital of the project company will be 2 billion yuan, with Visionox and its designated entities contributing 1.002 billion yuan, accounting for 50.1%, while Kunshan Weixin and its designated entities will contribute 998 million yuan, accounting for 49.9% [1] - After the completion of this capital increase, Suzhou Guoxian will still be a controlling subsidiary within the company's consolidated financial statements [1]

Core Viewpoint - The company, Visionox (维信诺), has signed an investment cooperation agreement with Kunshan Weixin to establish the Kunshan Global New Display Industry Innovation Center, with a total investment of approximately RMB 5 billion [1]. Group 1: Project Details - The project will be developed by Visionox's wholly-owned subsidiary, Suzhou Guoxian Innovation Technology Co., Ltd., which will see its registered capital increase to RMB 2 billion [1]. - Visionox and designated entities will contribute RMB 1.002 billion for a 50.1% stake, while Kunshan Weixin and designated entities will invest RMB 998 million for a 49.9% stake [1]. - The project aims to focus on advanced display technology development, product delivery for XR and X-ray, and the transformation of perovskite and glass substrate semiconductor results [1]. Group 2: Strategic Implications - This collaboration is expected to enhance the company's technological research and development capabilities in the AMOLED new display field and improve its market competitiveness [1]. - The initiative aligns with the company's overall development strategy and aims to accelerate the transformation of technological innovation results [1].

Market Overview - The market is expected to maintain a range-bound movement between 3700 and 3900 in the short term [1][16] - Major U.S. stock indices experienced a collective decline, with the Dow Jones down 0.19%, S&P 500 down 0.55%, and Nasdaq down 0.95% [4][3] - Large tech stocks faced pressure, with notable declines in Amazon (down 3.04%), Nvidia (down 2.82%), and Tesla (down 1.93%) [4] Economic Indicators - The preliminary Purchasing Managers' Index (PMI) for the U.S. showed a slowdown in both manufacturing and services, with the manufacturing PMI at 52.0, down from 53.0 in August [4] - The OECD projected a global economic growth rate of 3.2% for 2025, an increase of 0.3 percentage points from its June forecast [7] Corporate Actions - Lakala announced that Legend Holdings reduced its stake by 807.81 million shares, bringing its holding to 23.97% [11] - Xinhuajin is at risk of being subject to other risk warnings and potential delisting due to non-operational fund occupation amounting to 406 million yuan [12] - Weixinno plans to invest 5 billion yuan in a new display industry innovation center in collaboration with Kunshan Weixin [13] - Ganli Pharmaceutical signed a supply framework agreement worth no less than 3 billion yuan related to insulin products [14]

Group 1: Company Announcements - Ganli Pharmaceutical signed a technology transfer and supply agreement with FZ and BIOMM, with a total supply framework agreement amount expected to be no less than 3 billion RMB [1] - Upwind New Materials completed the transfer of 121 million shares, changing its controlling shareholder to Zhiyuan Hengyue, associated with Zhiyuan Robotics [2] - Poly Developments plans to publicly issue corporate bonds not exceeding 15 billion RMB for various purposes including debt repayment and project construction [3] Group 2: Shareholder Actions - Lenovo Holdings reduced its stake in Lakala by 8.0781 million shares, decreasing its ownership from 25.00% to 23.97% [4] - Fenghuo Communication plans to repurchase shares with a budget between 75 million and 150 million RMB, with a maximum repurchase price of 40.53 RMB per share [5] - Hualing Cable intends to acquire control of San Bamboo Intelligent for no more than 270 million RMB to enhance its capabilities in robotics and high-frequency transmission [6] Group 3: Market Developments - Guiguang Network clarified that rumors regarding major collaborations with Huawei Cloud and restructuring with state-owned enterprises are untrue [7] - Dongshan Precision is planning to issue H-shares and list on the Hong Kong Stock Exchange to enhance its international presence [8] - Wolong Nuclear Materials' subsidiary plans to invest up to 1 billion RMB in a new materials project in Suzhou [9] Group 4: Other Corporate Activities - Chao Xun Communication's management completed their share reduction plan, with specific shares sold by board members [10] - Various companies are involved in significant project bids and collaborations, including China Electric Research and others [15]

Core Viewpoint - The company, Visionox, has signed an investment cooperation agreement to establish the Kunshan Global New Display Industry Innovation Center, with a total investment of RMB 5 billion aimed at advancing new display and semiconductor technologies [1][2][3] Group 1: Project Overview - The project will focus on developing advanced display technologies, including flexible AMOLED, and will also explore the commercialization of perovskite and glass substrates in the semiconductor field [2] - The project is located at the intersection of Qiantangjiang Road and Qianjin East Road in Kunshan [2] - The total investment for the project is RMB 5 billion, with a registered capital of RMB 2 billion, where Visionox will contribute RMB 1.002 billion, holding a 50.1% stake [1][3] Group 2: Strategic Importance - The investment aims to enhance the innovation of display technologies, facilitating the penetration of AMOLED in various applications such as consumer electronics, automotive displays, and virtual reality [2] - The collaboration is expected to foster the incubation of new display industry chains and semiconductor technology research, contributing to the transformation of the next generation of electronic information industry clusters [2][3] Group 3: Financial Aspects - Visionox has also announced the establishment of a private equity fund, with a total commitment of RMB 818 million, where the company will contribute RMB 204 million, representing 24.94% of the fund [3] - This fund will invest in Visionox's subsidiary, Kunshan Guoxian Optoelectronics, helping to reduce the company's debt ratio and enhance asset value [3]

Core Points - The company announced the approval of the investment cooperation agreement for the "Kunshan Global New Display Industry Innovation Center Project" during the 24th meeting of the 7th Board of Directors [1] - The total investment for the project is estimated to be approximately 5 billion yuan [1] - The project aims to promote high-quality development of the new generation electronic information industry cluster in Kunshan [1] Investment Details - The company plans to jointly invest with Kunshan Weixin United Investment Co., Ltd. to construct the project, which will cover investment, construction, research and development, production, and sales of new display and semiconductor-related products [1] - The registered capital of the project company is set at 2 billion yuan, with the company contributing 1.002 billion yuan (50.1%) and Kunshan Weixin contributing 998 million yuan (49.9%) [1] - The project company, Suzhou Guoxian Innovation Technology Co., Ltd., is already established as a wholly-owned subsidiary of the company in Kunshan [1]

Core Viewpoint - The company, Visionox (002387.SZ), has signed a partnership agreement to establish a new investment fund aimed at supporting its operational needs and enhancing asset value through strategic investments [1] Group 1: Fund Establishment - Visionox, along with ICBC Capital and New Hope Fund, has initiated the establishment of the "Gongrong Jintou No. 2 (Suzhou) Equity Investment Fund Partnership" [1] - The total committed capital for the partnership is RMB 818 million, with Visionox contributing RMB 204 million, representing a 24.94% stake in the fund [1] Group 2: Investment Strategy - The fund's investment strategy includes debt-to-equity swaps to invest in designated enterprises, specifically focusing on the company-controlled Kunshan Guoxian Optoelectronics Co., Ltd [1] - Investments will comply with national laws, macroeconomic policies, and relevant regulatory requirements, aiming to achieve asset appreciation and satisfactory returns for investors [1]

Core Viewpoint - The company, Visionox (002387.SZ), has announced a significant investment in the establishment of the Kunshan Global New Display Industry Innovation Center, with a total investment of approximately RMB 5 billion, aimed at advancing technology and industry development in the new display and semiconductor sectors [1][2]. Investment Details - The company plans to sign an investment cooperation agreement with Kunshan Weixin to jointly invest in the Kunshan Global New Display Industry Innovation Center project, focusing on the development, production, and sales of new display and semiconductor-related products [2]. - The total investment for the project is RMB 5 billion, with a registered capital of RMB 2 billion for the project company, Suzhou Guoxian Innovation Technology Co., Ltd. The company will contribute RMB 1.002 billion, holding a 50.1% stake, while Kunshan Weixin will contribute RMB 998 million for a 49.9% stake [2]. Technological and Industrial Impact - This collaboration is expected to drive breakthroughs in display technology, particularly in the application of AMOLED in consumer electronics, automotive displays, virtual reality, and medical detection [3]. - The project will further incubate research results in the new display industry chain and semiconductor technology, playing a crucial role in nurturing future growth points and accelerating the transformation of the next generation of the electronic information industry cluster [3].