Jingneng Optoelectronics: Obtained breakthrough in LED technology and raised US$80 million to plan to go public

Reporters learned that Jingneng Optoelectronics announced in Hong Kong on the 2nd that it had received a new round of financing of US$80 million led by Asia Pacific Resources Development and Investment Company.

Wang Min, CEO of Jingneng Optoelectronics, revealed that high-performance silicon-based LED flash products provide solutions for smartphones, automobiles, general lighting and other fields. A major advantage of the company's silicon-based gallium nitride LED technology is that it can use large-size semiconductor manufacturing process technology to reduce LED costs.

The price of raw materials for the company's products has dropped by 40% in the past two years. After expanding the scale of production, the cost will be further reduced. Wang Min predicts that by 2015, the price of LED bulbs that replace 60-watt incandescent lamps produced based on Jingneng Optoelectronics' large-size silicon-based LED technology will drop to the same level as traditional bulbs. After stabilizing, LED may replace traditional lighting.

Since the beginning of this year, thanks to strong market demand and the company's vertical integration strategy, Jingneng Optoelectronics has achieved an output value of 450 million yuan in the first half of the year, a year-on-year increase of more than 50%. The full-year output value is expected to exceed 1 billion yuan. The company's silicon chip sales are expected to be approximately US$100 million this year, and sales are expected to reach US$200 million next year.

The relevant person in charge of the Nanchang High-tech Zone Management Committee revealed on the 10th that Jingneng Optoelectronics is a leading company in high-performance silicon substrate LED lighting products. The company said it plans to go public next year, and the preferred listing place is the United States.