Hehui Optoelectronics: The sixth-generation AMOLED expansion project is expected to start trial production in 2023

Hehui Optoelectronics pointed out in the newly disclosed investor relations activity record that the installation and commissioning of the equipment with the original planned production capacity of 15K has been completed, and a trial production plan is now being arranged. The company's fundraising project, the sixth-generation AMOLED production line capacity expansion project, is under construction as planned, and trial production is expected to start in 2023.

In terms of in-vehicle display, in recent years, with the development of new energy vehicles and autonomous driving technology, the application scenarios of in-vehicle display have been continuously innovated. With the continuous improvement of demand for human-vehicle interaction and in-vehicle entertainment, these functional changes will greatly promote the application of in-vehicle screens. Therefore, large and multi-screen screens have become standard for new energy vehicles. AMOLED panels With the advantages of low power consumption, ultra-thin, special-shaped, etc., it can provide drivers with better safety visual solutions in vehicle-mounted displays, and is expected to become the mainstream of vehicle-mounted displays in the future.

Hehui Optoelectronics has made an early development in the field of automotive display. It has cooperated with SAIC, a first-tier brand car manufacturer, to successfully customize and develop the industry's first 12.8-inch automotive-grade AMOLED semiconductor display panel . At the same time, it has deepened strategic cooperation with brand car manufacturers and system integration suppliers. Continue to cooperate in the development of new AMOLED products in the field of automotive display.

Hehui Optoelectronics emphasized that the AMOLED semiconductor display panel industry is characterized by technology-intensive and capital-intensive features. The industry has high requirements for R&D technology and production processes, and needs to continue to invest in the research and development of new technologies and new products, while producing and operating fixed assets. The investment is also large, and it takes a certain period of time from project construction to achieving planned production capacity, completing yield ramping, and realizing economies of scale. Therefore, in the early stage of production, due to the large allocation of fixed costs, industry manufacturers usually suffer from high unit costs. Losses may occur, and there may even be a situation where the gross profit margin of the product is negative for a certain period of time. To sum up, the main factors that determine the company's break-even are the sales scale and the comprehensive gross profit margin of the products. The company will continue to be market-oriented and customer-oriented, continue to develop the market, promote product and technological innovation, actively expand production capacity, improve yield, and strive to achieve steady growth in sales scale while reaching a certain gross profit rate, and strive to achieve this as soon as possible profit.

In addition, regarding the inquiries about the impact of the Shanghai epidemic on the company, Hehui Optoelectronics said that since the outbreak of the epidemic, the company has strictly followed the epidemic prevention requirements. The impact on production and operation is relatively large, and it has begun to gradually recover in May, and the current production resumption rate has reached about 70% of the normal level. At this stage, the epidemic situation in Shanghai and Jinshan District has stabilized, and the company's production capacity has continued to recover. In the follow-up, the company will focus on its business development strategy and annual business goals to strengthen the company's core competitive advantages in the AMOLED field, consolidate and increase market share, and reduce the impact of the epidemic. drop to lowest.

It is reported that the budget target of Hehui Optoelectronics was set at the beginning of the year and was not adjusted according to the impact of the epidemic. Although the company's production and operation have been affected by the epidemic, the company's production capacity is continuing to recover. In the follow-up, the company will closely focus on its business development strategy and annual business goals to catch up. Adjust the budget target for the current year.

Hehui Optoelectronics pointed out that the company's sales contracts are sufficient, and the amount of the signed sales contracts has increased by more than 40% compared with the annual sales amount in 2021, meeting the company's production and operation needs. The yield rate of the company's mass products has been further improved compared with 2020, which is above the average level of the same industry in China. Whether the company can turn losses into profits this year is determined by market conditions and the company's production and operation conditions. The company shoulders the mission of "focusing on building the best AMOLED display screen in China", and is guided by market and customer needs, continues to promote product and technological innovation, actively expands production capacity, continuously enhances the market competitiveness of products, and expands product sales and customer base. We will strive to achieve steady development of the company's main business and continue to improve its operating performance.

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