Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 34 n° 316

TCL Corporation to Toss $7 Billion to Build Gen 11 LCD and OLED Production Line in Shenzhen

Posted by fidest press agency su martedì, 6 settembre 2016

ShenzhenShenzhen, China (Business Wire) Shenzhen-listed TCL Corporation (SZSE: 000100) announced on August 29, 2016 that the company, its subsidiary China Star Optoelectronics Technology Co., Ltd. (CSOT) and the Economy, Trade and Information Commission of Shenzhen Municipality (Shenzhen Commission) will jointly invest RMB 46.5 billion (US$ 6.9 billion) to build a production line for Gen 11 TFT-LCD and AMOLED displays (G11 Project) in Guangming New District of Shenzhen, and will set up a new company to run the project.
The three parties agree to jointly invest in the G11 Project with a monthly processing capacity of 90,000 pieces of 3370mm×2940mm glass substrates. The investment is planned to total RMB 46.5 billion (US$ 6.9 billion), among which RMB 28 billion (US$ 4.2 billion) will be the registered capital of the G11 Project company and the remaining RMB 18.5 billion (US$2.8 billion) will be bank loans (to be arranged by CSOT and TCL Corporation). RMB 8 billion (US$ 1.2 billion) of the registered capital will come from the fund management company designated by Shenzhen Commission, RMB 11.4 billion (US$ 1.7 billion) from Party B, and the remaining RMB 8.6 billion (US$ 1.3 billion) from other shareholders of the G11 Project company. Details of the G11 Project investment and capital arrangement will be further negotiated among all parties.Preparations for the project, including planning & design, and environment assessment, will begin in June 2016; construction will start in December 2016; the plant construction will complete in January 2018; the first batch of equipment will be moved in July 2018; the first product will be produced in April 2019; mass production will start in July 2019.
The G11 Project will use oxide semiconductor, Cu process, POA, Super GOA technology, and OLED Printing technology to produce 43″, 65″, 70″ (21:9), 75″ LCD displays, ultra-large public displays as well as OLED displays.This project will have a positive impact on developing Shenzhen’s rising display industry. On condition that CSOT injects the investment and carries out the construction as agreed, Shenzhen Commission will provide support for the G11 Project and other supporting projects.TCL Corporation has obtained a competitive edge in the LCD display industry, but lacks on the capability of producing ultra-large displays of 65″ and beyond. In recent years, the LCD TVs have been pursuing larger sizes and higher resolutions. When CSOT’s Gen 11 production line is completed, it will enhance the Company’s portfolio in terms of large-sized LCD displays, and help boost the Company’s comprehensive competitiveness in LCD display business.

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