Plans to raise 750 million yuan for Mini LED light panels and other projects

Hanbo High-tech announced on October 18 that it plans to issue convertible bonds to unspecified objects to raise no more than 750 million yuan, which will be used for projects such as the annual output of 9 million sets of mini LED light panels (Phase I).

According to data, Hanbo High-tech is a one-stop comprehensive solution provider for semiconductor display panel backlight display modules. Its industrial layout covers the optical design of backlight display modules, light guide plate design, precision mold design, etc.

For MiniLED backlights, the company has comprehensive development technical capabilities from lamp board circuit design, circuit layout, signal processing, optical and mechanical design, etc.

The convertible bonds are issued to natural persons, legal persons, securities investment funds, and other investors in compliance with legal regulations who hold securities accounts of the Shenzhen Branch of China Securities Depository and Clearing Co., Ltd.; the raised funds, after deducting issuance fees, will be used to invest in projects with an annual output of 9 million sets of Mini LED light panels (Phase I). It is estimated that an investment of 750 million yuan will be required.

Hanbo High-tech was established in 2009 and is headquartered in Hefei, Anhui. It is a one-stop comprehensive solution provider for backlight display modules, an important component of LCD panels, integrating optical design, light guide plate design, precisionMold design, overall structure design and intelligent product manufacturing are integrated into one, and the products are used in consumer electronics fields such as laptops, desktop monitors, tablets, and car screens. After years of customer accumulation, the company has established cooperative relationships with world-renowned panel manufacturers such as BOE, Innolux, CSOT, Shentianma, and Huike. Its end customers include well-known consumer electronics companies and automobile manufacturers at home and abroad.

Hanbo High-tech has accumulated a lot of experience in backlight module R&D and production over the years, and continues to invest in TFT backlight and OLED manufacturing. According to the latest progress of the project, the OLED production line built by Hanbo High-tech in Chengdu is about to be put into production. CMM (OPEN-MASK) products have been provided to customers with certified products and have been supplied in small batches. In addition, on July 29, Hanbo High-tech and Huaxing Optoelectronics signed a bid winning letter for the T9 BLU Inhouse project. The first phase of the project plans to have 5 panel production lines, with a single line production capacity of 200K per month. The first production line is expected to be mass-produced before July 31, 2023.

At the same time, Hanbo High-tech relies on TFT to simultaneously plan the die-hardening of Mini LED light panels, the fully automatic intelligent assembly production technology of LCM modules, and the laminating process technology of vehicle OCR.

It is worth mentioning that the company has optical design, structural design, and circuit design capabilities for Mini LED backlight sources, and can provide complete solutions. In 2019, the company developed a 6.5-inch automotive Mini LED product; in August 2021, the 15.6-inch Mini LED backlight display module entered the mass production stage.

From January to June 2022, Hanbo High-Tech's operating income consists of: backlight modules accounting for 67.83%, backlight display module components accounting for 27.21%, and other businesses accounting for 4.96%. At present, Hanbo High-tech has participated in the "Mini LED Indoor Commercial Display" group standard compiled by the Shenzhen Lighting and Display Engineering Industry Association. This standard was jointly compiled with well-known domestic institutions and industry leading enterprises.