Ruilian New Materials plans to spend RMB 80 million to increase OLED materials

On March 26, Ruilian New Materials announced that the company plans to use part of the remaining raised funds from the LCD project of 80 million yuan to invest in the Pucheng Haitai high-performance optoelectronic materials industrialization project.

The project implementation entity is Pucheng Haitai, a wholly-owned subsidiary of Ruilian New Materials. Construction will be carried out based on Pucheng Haitai's already built 311# workshop, which has completed the construction of the main body of the house, walls and roofs and other construction and decoration projects. The project plans to use part of the site in conjunction with the workshop layout. The 311# workshop covers a total area of ​​1,648.32㎡, and the project planned land area is 1,018.08㎡.

The total planned investment amount of the project is 80 million yuan. The main construction content covers the purchase and installation of equipment, as well as the construction of public works and auxiliary service facilities such as water supply and power supply required for supporting production. After completion, it will be used for the production of OLED pre-sublimation materials.

Ruilian New Materials stated that the project was invested to further seize the market opportunities of continued growth in the OLED display industry and meet the supporting needs of the company's OLED pre-sublimation material products in terms of production capacity and professional production equipment.

In the face of growing market demand, the production capacity of the company's existing production lines has been unable to match the pace of business development. As a leading enterprise in the field of domestic OLED pre-sublimation materials, the company needs to conduct production capacity planning and layout in advance to better grasp the development opportunities of the OLED industry, efficiently meet the procurement needs of core customers, and increase market share.

The smooth implementation of the investment project with funds raised this time will help Ruilian New Materials expand its market share, deepen the company's business layout in relevant sectors, and improve the company's profitability and market share. At the same time, the fundraising projects combine market demand and future development trends, are in line with the future development direction of the industry, and help the company give full play to its scale advantages, thereby enhancing the company's overall competitiveness and risk resistance. (Source: Compiled by Ruilian New Materials and TrendForce Display)

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