Hot topics of the week: Nationstar expands production and raises funds, Zhaochi speeds up shipments, Mulinsen ramps up mergers and acquisitions

There are frequent developments in the LED industry this week, and the upstream and downstream of the industry chain are taking intensive actions in capital operations, product launches, and technological breakthroughs. Mini/Micro LED, optical communication modules and other directions are still the focus. At the same time, companies also have new developments in investment and financing, mergers and acquisitions and performance forecasts. In terms of technology, progress has been made in areas such as CSP packaging and pixel engines.

[Selected Events]

Nationstar Optoelectronics plans to raise no more than 981 million yuan in additional funds

On July 10, Nationstar Optoelectronics announced that the total amount of funds it plans to raise will not exceed 981 million yuan, which will be used for "Ultra HD Display Mini/Micro after deducting issuance costs." "LED and display module product production and construction project", "Photoelectric sensing and intelligent health device industrialization construction project", "Smart home display and Mini backlight module construction project", "Smart vehicle device and application construction project", "Nationstar Optoelectronics R&D laboratory project" and supplementary working capital.

Tianma successfully lights up the 7-inch Micro LED automotive standard

On July 9, Tianma Microelectronics successfully lit up the 7-inch Micro LED automotive standard product, which has 61% light transmittance, 1700nits brightness, NTSC>120% color gamut and million-level contrast. It supports horizontal and vertical splicing and is suitable for HUD, central control screen and other scenarios. It is expected to accelerate the implementation of Micro LED in automotive and transparent display and other fields.

Zhaochi's optical module products are supplied to many leading customers

On July 7, Zhaochi announced that the company's 100G and below speed optical module products have completed product verification with many leading optical communication equipment manufacturers and successfully achieved batch shipments. In the future, the company will continue to increase investment in research and development of 400G/800G and 1.6T high-speed optical modules, and systematically improve key performance indicators such as product transmission rate, power consumption control, and environmental adaptability.

Hongli Display provides Mini LED touch screens for drone brands

According to Hongli Zhihui, the remote control for the new flagship model of a certain head drone brand uses a 7.02-inch Mini LED touch screen developed by Hongli Display. The screen has a maximum brightness of 1400nit and a 384-partition independent light control design, which significantly improves the contrast, reduces light leakage in dark areas and highlight overflow, and meets the needs of flight parameter viewing and image monitoring in strong light environments.

Leyard Virtual Motion Point's high-precision robot data collection service has been implemented in Futian Laboratory

Futian Laboratory has joined hands with Leyard Virtual Motion Point to explore service robot solutions. At present, Leyard Virtual Moving Point high-precision robot data collection service has been launched in Futian Laboratory. Leyard will stand on the solid foundation of AI and spatial computing and continue to provide a variety of services including data collection, robot training, etc. to Futian Laboratory and Shenzhen Embodied Intelligence Industry Cluster.

[Company/Strategic Adjustment]

Mulinsen plans to acquire 18.77% equity of Bridgelux

On July 5, Mulinsen announced that its German subsidiary LEDVANCE GmbH planned to acquire an 18.77% stake in Bridgelux for approximately 256 million yuan. Bridgelux focuses on LED and semiconductor power devices and owns international brands such as "Bridgelux" and "Intematix". Mulinsen said that this move will help strengthen technological synergy and industrial chain integration and enhance market competitiveness.

Shiyun Circuit plans to acquire shares in LED company Lair Technology

On July 5, Shiyun Circuit announced that it planned to transfer 5% of Tenair’s shares in Lair Technology for approximately 153 million yuan, and signed a strategic cooperation agreement with Lair Technology. Lyle Technology focuses on functional new materials, which are widely used in new energy vehicles, energy storage, LED and other fields. Shiyun Circuit is optimistic about its development potential and plans to coordinate its layout in emerging fields such as low-altitude economy and humanoid robots.

Jiuliang shares plan to change company name and registered address

On July 5, Jiuliang Shares announced that it planned to change the company name from "Guangdong Jiuliang Co., Ltd." to "Hubei Jiuliang Co., Ltd.", the registered address will be moved to Shiyan, Hubei, the English name will be adjusted simultaneously, and the securities abbreviation and code will remain unchanged. The company stated that the entity has not changed, the original contract will continue to be performed, and the business premises and staffing will remain stable.

[Capital Market]

Yaotai Co., Ltd.’s IPO application was accepted by the Beijing Stock Exchange

On June 27, Yaotai Co., Ltd.’s IPO application was accepted by the Beijing Stock Exchange. The company focuses on outdoor lighting products. Its main products cover courtyard, smart, solar and task lighting. It owns brands such as "LUTEC" and "UME", and its sales are mainly in overseas markets. It plans to raise 372 million yuan this time to expand production, build overseas factories, build R&D centers and supplement working capital.

Hualai Technology’s IPO application was accepted on the Beijing Stock Exchange

On June 30, Hualai Technology’s IPO application was accepted by the Beijing Stock Exchange. The company focuses on smart home products, mainly providing customized solutions for brands such as Xiaomi and Wyze, and plans to raise 318 million yuan for camera industrialization and R&D center projects. Revenue in 2024 will be approximately 887 million yuan, a year-on-year decrease of 14.91%; net profit attributable to parent companies will be 82.52 million yuan, a year-on-year increase of 2.3%.

PCB manufacturer Chaoying Electronics is about to attend the meeting

The Shanghai Stock Exchange announced that Chaoying Electronics plans to go public on July 10 and plans to raise 660 million yuan, focusing on expanding production of high-multilayer and HDI projects. The company focuses on PCB production, and its products range from double-sided to 26-layer boards, which are widely used in automotive electronics, displays (including Mini LED), storage and other fields. The company has established long-term cooperation with BOE, LG and Tesla.

Micro LED AR contact lens manufacturer XPANCEO received US$250 million in financing

On July 8, foreign media reported that XPANCEO, a developer of AR smart contact lenses in Dubai, completed a US$250 million (approximately RMB 1.8 billion) Series A financing, bringing XPANCEO’s valuation to US$1.35 billion. XPANCEO will use the new financing to accelerate its plan to launch the world's first fully functional smart contact lens.

[Latest Results]

TCL Technology expects revenue in the first half of the year to reach 90.6 billion yuan

On July 9, TCL Technology released its semi-annual performance forecast for 2025. It is expected to achieve operating income of 82.6 billion yuan to 90.6 billion yuan, a year-on-year increase of 3% to 13%; net profit attributable to shareholders of listed companies is 1.8 billion to 2 billion yuan, a year-on-year increase of 81% to 101%; during the reporting period, the semiconductor display business performed well, with net profits expected to exceed 4.6 billion yuan, a year-on-year increase of more than 70%.

Skyworth Digital’s net profit in the first half of 2025 will be approximately 43 million to 63 million yuan

On July 8, Skyworth Digital released its semi-annual performance forecast for 2025. The net profit attributable to the parent company is expected to be 43 million to 63 million yuan, a year-on-year decrease of 65.35% to 76.35%; excluding non-net profit is 3 7 to 55 million yuan, a year-on-year decrease of 64.73% to 76.27%; basic earnings per share is expected to be 0.0377 to 0.0552 yuan, down from 0.1593 yuan in the same period last year.

LED manufacturers Ficai, Lite-On, Guanghong and Liqing announced their June revenue

On July 8, Ficai, Lite-On and Guanghong announced their June revenue. Fucai’s revenue was 1.794 billion yuan (NT$, the same below), a month-on-month decrease of 7.20% and a year-on-year decrease of 17.26%. Lite-On's revenue in June reached 13.619 billion yuan, a new high in the past 21 months, a year-on-year increase of 16.05%. Guanghong’s revenue in June was 115 million yuan, a month-on-month decrease of 8.56%, but a year-on-year increase of 8.92%. Liqing's consolidated revenue in June reached 710 million yuan, a decrease of 5.54% from the previous month.

【Products and Technology】

Avenue Semiconductor jointly releases a new generation of large flip-chip chip scale package (CSP)

Avenue Semiconductor and Nationstar Semiconductor jointly launch a new generation of large flip-chip CSP light source with its own thermal pad. It innovatively adopts a gold-tin-free pad and aluminum nitride-free substrate design to simplify the process and reduce costs. This product has the advantages of high-voltage drive, high light concentration, and strong central illumination, and is suitable for high-end projection lighting scenarios such as car lights.

Ledman Optoelectronics’ Micro LED pixel engine patent has been authorized by many overseas invention patents

Ledman Optoelectronics recently responded to investors’ questions on an interactive platform and stated that Ledman Optoelectronics’ Micro LED pixel engine patent (PSE) launched its overseas layout as early as 5 years ago and has now obtained invention patent authorizations from Japan, Australia, Canada and other countries, and authorization work in other countries is also in progress.

Samsung and Seoul National University develop high-efficiency flexible red Micro LED

On July 1, the Samsung Advanced Institute of Technology and the Seoul National University team announced Micro LED research results. They successfully developed a high-efficiency red InGaN-based Micro LED with a diameter of 1.5 microns, with a peak external quantum efficiency (EQE) of 6.5%, a peak wavelength of 649nm, and flexible characteristics, which can break through the key bottleneck of miniaturization and high-definition display of AR, VR and other devices.

Using Signify LED plant lighting system, Dutch companies achieve high tomato yields

According to news on July 10, Dutch tomato grower Looye Kwekers recently announced that by using the LED plant lighting system provided by Signify, the company successfully achieved the level of winter tomatoes reaching the level of summer crops in its new greenhouse in Bergfen, the Netherlands. (Compiled by LEDinside)

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