Visionox to invest 50 bn yuan in Kunshan display innovation center

Visionox Technology Co., Ltd. announced the approval of an investment in the Kunshan Global New Display Industry Innovation Center Project. The board of directors unanimously voted to sign a cooperation agreement for the project, which is projected to have a total investment of approximately 50 billion yuan. The center aims to foster the development of Kunshan's next-generation electronic information industry through investment, construction, research and development, production, and sales of new display and semiconductor-related products and services.

The project company, Suzhou Guoxian Innovation Technology Co., Ltd., a wholly-owned subsidiary of Visionox, will serve as the entity for the project. The registered capital for the project company is 20 billion yuan, with Visionox and its designated entities contributing 10.02 billion yuan, representing a 50.1% stake. Kunshan Weixin United Investment Co., Ltd. and its designated entities will contribute 9.98 billion yuan, accounting for 49.9%. Visionox's decision to forgo some preferred subscription rights ensures that Suzhou Guoxian will remain a controlled subsidiary within Visionox's consolidated financial statements post-capital increase.

This strategic investment underscores Visionox's commitment to advancing display technology and enhancing its market position. The detailed announcement regarding the investment cooperation agreement has been published on major financial news outlets and the CNINFO website.