San'an Optoelectronics published an announcement, stating that the company plans to invest CNY12 billion to build a Mini/Micro LED extension and chip project in Hubei Province.
According to San'an Optoelectronics' financial report for 2018 and the first quarter of 2019, the company's operating revenue in 2018 was CNY8.36 billion, a year-on-year decrease of 0.35%; its net profit in 2018 was CNY2.83 billion, a year-on-year decrease of 10.56%; its operating revenue in the first quarter of 2019 was CNY1.729 billion, a year-on-year decrease of 11.1%; and its net profit in the first quarter of 2019 was CNY620 million, a year-on-year decrease of 35.85%.
Due to the price decrease of LED chip, the industry is still in its low moments. San'an Optoelectronics plans to expand Mini/Micro LED new products and new businesses to find new growth points.
On April 26, 2019, San'an Optoelectronics' board of directors decided to establish a subsidiary in Hubei Gedian Economic & Technological Development Zone and invest in a new project. With a total investment of CNY12 billion, this project will be engaged in Mini/Micro LED extension and chip products manufacturing as well as development, manufacturing, and sales of related applications.
