On October 19, WHHC Optoelectronics Technology Group, one of the leading manufacturers of LED chips in the world, announced the disclosure of the "Approval for Approval of WHHC's Issuance of Stocks to Specific Objects" and agreed to the company's registration application for issuing stocks to specific objects.
The project directions invested by the funds raised in this issuance include Mini/MicroLED, GaN power devices, etc., which are key breakthrough areas of the company's mid- and long-term planning.
The announcement shows that the total amount of funds raised in this issuance does not exceed 1.5 billion yuan, of which 1.2 billion yuan is planned to be invested in Mini/MicroLED R&D and manufacturing projects, and 300 million yuan is planned to be invested in GaN -based power electronic device R&D and manufacturing projects.
WHHC stated that after the completion of the issuance and the start of the fundraising project, the company's business structure will be optimized, extending from the LED chip before the issuance to the fields of Mini/MicroLED and GaN power devices, consolidating the company's leading position in the LED chip industry, and Actively seize the domestic leading position in the field of GaN power devices, realize the company's strategic upgrade to a high-end integrated semiconductor manufacturer, and comprehensively enhance the company's core competitiveness and sustainable development capabilities.
In the Mini/MicroLED field, WHHC has joined international mainstream terminal manufacturers to take the lead in the market. MiniLED chips have been successfully applied to multiple terminal products, leading competitors to achieve continuous and stable shipments. MicroLED is in close cooperation with international manufacturers .
In the field of GaN-based power electronic devices, the company will focus on market applications such as smart phones, automotive electronics, and data centers, helping the company expand into the field of diversified compound semiconductor products.
The Mini/MicroLED market will usher in explosive growth in 2020. By 2021, the global MiniLED application market is expected to reach 6.1 billion yuan, and the MicroLED global application market is expected to reach 8.07 billion yuan by 2022; in the field of GaN power devices, it is expected to be 2024 The market value will exceed 350 million US dollars, and the compound annual growth rate in 2018-2024 will reach 85%.
WHHC stated that, as a leading LED epitaxy, chip R&D and manufacturing company, the company will expand and strengthen its main business of LED epitaxy and chip in the future, and continue to promote the development and industrialization of MicroLED, on the other hand, it will expand into adjacent fields such as compound semiconductors.