Visionox(SZ:002387) DT新材料·2025-11-09 23:37Core Viewpoint - The article discusses the strategic partnership between Visionox and Hefei Jianxu Investment Co., Ltd., focusing on a significant stock issuance aimed at raising funds for operational liquidity and debt repayment, which will lead to a change in the company's controlling shareholder and actual controller [2]. Group 1: Stock Issuance and Control Change - Visionox plans to issue 419 million shares at a price of 7.01 yuan per share, raising up to 2.937 billion yuan, which will be used for working capital and debt repayment [2]. - Hefei Jianxu currently holds 11.45% of Visionox's shares and will become the controlling shareholder upon completion of the issuance, with the actual control shifting to the Hefei Municipal Government [2]. Group 2: Business Development and Partnerships - Visionox has over 20 years of experience in the OLED field, focusing on technologies such as under-display cameras and high refresh rates, which have established strong competitive advantages globally [2]. - The collaboration with Hefei aligns with the city's goal of developing a competitive new display industry cluster, with ongoing projects since Hefei Jianxu's investment in 2021 [2]. Group 3: Investment Projects - In 2022, Visionox signed an investment framework agreement with the Hefei Municipal Government for a 110 billion yuan project to build a 6th generation flexible AMOLED production line, which commenced construction in 2022 and is set to be operational by the end of 2023 [3]. - A new agreement for an 8.6 generation flexible AMOLED production line project with a total investment of 55 billion yuan is planned for August 2024, indicating a significant expansion in production capabilities [3]. - The 8.6 generation AMOLED production line project is notable for being the world's first to utilize the no-FMM technology (ViP), marking a significant advancement towards mass production [3].