“合肥系”国资出手，投入超29亿元现金，要拿下显示屏巨头控制权！投资对象3年多亏损近100亿元

Core Viewpoint - The company, Visionox, is planning to issue A-shares to a specific investor, Hefei Jianshu Investment Co., Ltd., which will change the controlling shareholder and actual controller to the Hefei Shushan District People's Government [1][4]. Group 1: Share Issuance Details - Visionox intends to issue 419 million shares at a price of 7.01 yuan per share, raising a total of no more than 2.937 billion yuan [4]. - After the issuance, Hefei Jianshu's shareholding will increase from 11.45% to 31.89% [4]. Group 2: Historical Investment Background - Hefei Jianshu has been involved with Visionox since 2018, when it first invested in the company [4]. - In 2021, Visionox's controlling shareholder transferred 16 million shares (11.7% of total shares) to Hefei Jianshu, leading to a situation where the company had no actual controller [4]. Group 3: Company Overview - Visionox was established in 2001, evolving from a Tsinghua University OLED project group founded in 1996, and went public in 2018 [4]. - The company specializes in the research, production, and sales of OLED small and medium-sized display devices, as well as Micro-LED displays [4]. Group 4: Market Position - According to CINNOResearch, Visionox holds an 11.2% share of the global smartphone AMOLED panel market, ranking third globally and second domestically [6]. - DSCC data indicates that Visionox leads the global AMOLED smart wearable panel market with a 27% shipment share in 2024 [6]. Group 5: Financial Performance - Visionox reported revenues of 7.477 billion yuan, 5.926 billion yuan, and 7.929 billion yuan for 2022, 2023, and 2024, respectively, with net losses of 2.066 billion yuan, 3.726 billion yuan, and 2.505 billion yuan [7]. - For the first three quarters of 2025, the company achieved a revenue of 6.051 billion yuan, a year-on-year increase of 3.5%, while the net loss was 1.623 billion yuan, a 9.67% improvement compared to the previous year [7][8]. - The company has accumulated losses exceeding 9.9 billion yuan over the past three years and the first three quarters of 2025 [7]. Group 6: Future Investments - Despite ongoing losses, Visionox is investing in a new production line in collaboration with the Hefei Municipal Government, with a total investment of 55 billion yuan [8].