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【introduction】visionox plans to invest 55 billion yuan to build an amoled production line

china fund news reporter lu yu

the cumulative loss in three and a half years exceeded 8.6 billion yuanvisionox, plans to invest 55 billion yuan to build the 8.6th generation flexible active-matrix organic light-emitting display (amoled) production line project. among them, the planned equity investment is 33 billion yuan and debt financing is 22 billion yuan.

plans to invest 55 billion yuan to build an amoled production line

visionox announced on the evening of august 29 that after friendly negotiations, the company andhefei municipal governmentit is planned to sign the "hefei 8.6th generation flexible active matrix organic light-emitting display device (amoled) production line project investment framework agreement" (hereinafter referred to as the "investment framework agreement").

the "investment framework agreement" stipulates that the two parties will cooperate to establish/invest in a project company in hefei xinzhan high-tech industrial development zone to implement the investment, construction and operation of the project. the total investment in the project is 55 billion yuan, including 33 billion yuan in equity investment and 22 billion yuan in debt financing.

in order to promote the implementation of the project as soon as possible, visionox, based on the main contents of the investment framework agreement, also cooperated withhefei jianxiang investment co., ltd.(hereinafter referred to as party a) and hefei xincheng holdings group co., ltd.(hereinafter referred to as party b) negotiated and reached an intention on the "hefei 8.6th generation flexible active matrix organic light-emitting display (amoled) production line project investment cooperation agreement" (hereinafter referred to as the "investment cooperation agreement").

the investment cooperation agreement stipulates that all parties agree to jointly invest in the construction of the project and use visionox's wholly-owned subsidiaryhefei guoxian technology co., ltd.(hereinafter referred to as hefei guoxian) is the investment, construction and operation platform of the production line project. the total investment of the project is 55 billion yuan, and the initial registered capital is 2 billion yuan, of which party a and party b invested a total of 1.6 billion yuan (accounting for 80%), and visionox invested 400 million yuan (accounting for 20%). all parties agreed to pay the actual amount in installments in the same proportion according to the needs of the project construction.

the announcement stated that the subsequent capital will be raised by the project company in accordance with legal provisions and project needs. visionox waived part of its priority subscription rights, and after the completion of the first phase of capital increase, hefei guoxian will no longer be included in its consolidated financial statements.

cumulative losses of 8.6 billion yuan in three and a half years

the semi-annual report released by visionox on the evening of august 29 showed that in the first half of 2024, the company achieved operating income of 3.933 billion yuan, a year-on-year increase of 46.05%; the net loss attributable to shareholders of the listed company was 1.177 billion yuan, and the net loss attributable to shareholders of the listed company after deducting non-recurring gains and losses was 1.31 billion yuan.

from 2021 to 2023, visionox continued to suffer losses which increased year by year.from 2021 to the first half of 2024, visionox's total cumulative losses reached 8.611 billion yuan.

from the perspective of debt-to-asset ratio, visionox's debt ratio has continued to rise in recent years, soaring from 48.29% in 2019 to 77.36% in the first half of 2024.

on august 29, visionox's stock price closed at 5.98 yuan, with a market value of 8.31 billion yuan.

editor: captain

review: xu wen

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