The total investment is 11.5 billion yuan! Leybold Hi-Tech will also invest in the construction of a high-generation TFT-LCD panel production line...
On October 29, Leybold Hi-Tech, a leading manufacturer of upstream materials and touch devices, and Wuhan Donghu New Technology Development Zone jointly signed the 'Strategic Cooperation and Investment Intention Agreement for the 8.5th Generation New Semiconductor Display Device Project.'
11.5 billion yuan to invest in the construction of the 8.5 generation LCD panel line
The announcement stated that the two parties specified The investment subject of the joint venture jointly registered a project company (hereinafter referred to as the 'project company') in the East Lake High-tech Zone, as the main body of project investment, construction and operation, to build the 8.5th generation new semiconductor display device project.
The project plans to adopt IPS TFT (in-plane switching thin film transistor), oxide semiconductor TFT technology and other display technologies, and plans to build in Donghu High-tech Zone A 8.5th generation TFT-LCD panel and module production line. The planned total investment of the project is RMB 11.5 billion (the exact investment is subject to actual investment), the design capacity is 60K pieces/month of 8.5th generation TFT-LCD panels (2200mm*2500mm), and 1 million pieces/month of TFT-LCM modules ; Products are mainly used in notebook computers, vehicle-mounted instruments, medical/industrial control instruments, outdoor public displays, etc.
After the project is put into production, the project company plans to invest about 1.5 billion yuan in subsequent plans (the exact amount of investment is subject to actual investment), and expand the production capacity to 80K pieces/month of the 8.5th generation TFT-LCD panel , 2.5 million TFT-LCM modules per month.
The registered capital is 6.5 billion, each of which holds half of the shares
The registered capital of the project company is 6.5 billion, and the East Lake Management Committee and Leybold Hi-Tech will each contribute 3.25 billion yuan, each holding the project company 50% equity. For the 3.25 billion yuan invested by Leybold Hi-Tech, 2 billion yuan was raised by itself, and the other 1.25 billion yuan was provided by the East Lake Management Committee to Leybold Hi-Tech. Guarantee (the value of the collateral should not be less than 120% of the loan principal).
The East Lake Management Committee coordinates banks and other financial institutions to provide loans not exceeding 3.5 billion yuan to the project company. When the project company’s 3.5 billion yuan syndicated loan requires shareholders to provide guarantees, the two parties shall provide guarantees in proportion to their equity in the project company.
The East Lake Management Committee has the right to require Leybold Hi-Tech to initiate repayment before December 31, 2025, and complete the repurchase and repurchase of the equity of the project company held by the East Lake Management Committee before December 31, 2027. All borrowings shall be paid off, and the specific repurchase matters shall be negotiated by both parties separately.
The specific cooperation content will be further implemented and promoted based on the follow-up work of both parties. The follow-up project cooperation still needs to sign a separate formal agreement to agree on specific matters, and the specific investment amount and scale need to be approved by the government authority Record approval.
Leybold High-Tech stated that the signing of this agreement of intent has no significant impact on the independence of the company's business. This intention agreement is only a framework strategic cooperation and investment intention agreement. The specific cooperation content will be further implemented and promoted based on the follow-up work of both parties. The specific cooperation investment agreement has not yet been signed, and the impact on the company’s specific business will depend on the implementation and implementation of subsequent projects. The implementation situation, it is temporarily impossible to predict the impact of this agreement on the company's business performance this year and subsequent years.
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