Shulou(Shulou.com)11/24 Report--

CTOnews.com October 30 news, Huacan Optoelectronics Co., Ltd. announced that its Chinese name will be changed to "Beijing Oriental Huacan Optoelectronics Co., Ltd.", and its English name will be changed from "HC SemiTek Corporation" to "BOE HC SemiTek Corporation". The securities acronym and code will remain unchanged.

CTOnews.com noted that the name change stems from the share subscription agreement signed between Hucan Optoelectronics and BOE on November 4, 2022. BOE plans to subscribe for 372070935 shares of Hucan Optoelectronics to a specific target with 2083597236 yuan in cash and become the largest shareholder with 23.08% of the shares after the subscription is completed.

BOE said that the acquisition of Huacan Optoelectronics can quickly complete the layout of key links of LED chips, complement existing business to form a complete business system, and enhance business competitiveness in terms of technology, products, production capacity, market, talent and so on.

It is worth mentioning that Huacan Optoelectronic Micro LED wafer manufacturing and packaging testing base project officially started on July 31, with a total investment of 5 billion yuan, with an annual output value of 5 billion yuan after delivery. The total investment of the first phase of the project is more than 2 billion yuan and is scheduled to be put into production in the third quarter of 2024.

The products of the project are Micro LED wafers and pixel devices. Upon completion, it will form an annual production capacity of 588000 Micro LED wafers and Micro LED pixel devices 45000.00kk, mainly for super-large and ultra-small HD display scenes, for large-size commercial display, AR / VR head-mounted display devices and wearable devices and other applications.

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