A few days ago, Mini/Micro LED manufacturer Xinruida announced that it plans to participate in the establishment of an automobile industry investment fund with a scale of 1 billion yuan, targeting in-vehicle displays, car-grade chips, smart cockpits, autonomous driving and other fields.
According to the announcement, Xinruida plans to cooperate with Hefei Ruicheng Private Equity Fund Management Co., Ltd. (hereinafter referred to as "Ruicheng Fund") to establish Anhui Xinche Linkage Industrial Investment Fund (Limited Partnership) (tentative name), and plans to sign an agreement of intent. The intention agreement stipulates that the total scale of the fund is 1 billion yuan, and the initial capital scale is not less than 500 million yuan. Among them, the general partner Ruicheng Fund will invest 10 million yuan, Xinruida intends to invest no more than 100 million yuan, and other relevant investors will invest no less than 890 million yuan.
Core Che Linkage Industrial Investment Fund will focus on the upstream and downstream industry chains of new energy vehicles and intelligent connected vehicles, focusing on in-vehicle displays, car-grade chips, smart cockpits, autonomous driving and other fields. The fund manager is Ruichen Fund. The company was established in December 2021 with a registered capital of 2 billion yuan. The controlling shareholder is Wuhu Chery Capital Management Co., Ltd.It mainly invests in the fields of new energy vehicles and intelligent connected vehicles.
The main purpose of Xinruida's participation in this fund is to use a professional team to integrate and utilize the superior resources of all parties and the advantages of the capitalization market, expand the company's project investment channels, help it obtain high-quality M&A asset projects in the future, and accelerate the company's development in the display field. Through this, Xinruida will further enhance its overall competitiveness and profitability.
Xinruida's main business covers the entire industry chain of new display materials, modules and terminals. According to its revenue structure, its products are mainly divided into three categories: display modules, display terminals, and healthy smart light sources. As far as Mini/Micro LED display products are concerned, Xinruida's related products on the module side are mainly Mini LED backlight display optoelectronic systems. In terms of terminals, Xinruida's current main products are Mini LED direct display products, and it has now formed a Mini/Micro product line or group with pitches ranging from P0.3 to P1.25.
Judging from the focus of the participating funds, vehicle display is closely related to Xinruida's business. Xinruida has deployed Mini LED backlight and direct display products in the field of automotive display. Among them, automotive Mini LED backlight display optoelectronic system can be directly used as a display module. Currently, Xinruida is strengthening communication with automotive display module customers and preparing for introduction.
ANNA