Qingyue Optoelectronics determines the issue price; Prospect analysis of two new technologies of layout silicon-based OLED and electronic paper

In November, the China Securities Regulatory Commission approved the registration application of Suzhou Qingyue Optoelectronics for IPO and listing on the Science and Technology Innovation Board. On December 16, Qingyue Optoelectronics disclosed its issuance announcement and determined that the listing price of the Science and Technology Innovation Board was 9.16 yuan per share.
The predecessor of Qingyue Optoelectronics is Kunshan Vicino, whose main business is PMOLED, silicon-based OLED, electronic paper and other new display integrated solutions. It has established research and development centers and large-scale production lines in Jiangsu, Jiangxi, Zhejiang and other places.
Since 2019, Qingyue Optoelectronics has actively laid out electronic paper mold products. The construction of the electronic paper mold set production line will be started in 2020, and mass production will be realized that year. According to the data of RUNTO, in the first half of 2022, the global electronic paper mold market shipments reached 120 million pieces, up 25% year on year. Among them, Qingyue Optoelectronics ranks the top three with a market share of 17%.
Fund-raising layout of silicon-based OLED and electronic paper
The prospectus of Qingyue Optoelectronics shows that it plans to raise 400 million yuan, of which 150 million yuan will be used for the technical renovation project of silicon-based OLED display production line, 100 million yuan will be used for the construction project of the engineering research center of cutting-edge ultra-low power consumption display and drive technology, and 150 million yuan will be used to supplement the working capital. If the issuance is successful, the total amount of funds raised is expected to be 824 million yuan.
RUNTO believes that the two projects that Qingyue Optoelectronics plans to raise funds are the development direction that attracts the most attention in the current new display field.
OLED on Silicon (OLEDoS) is a kind of microdisplay technology using silicon substrate. Samsung Display, LG Display, Sony and other global leading electronic enterprises are accelerating the development. The products will be mainly applied to the representative devices of the metauniverse such as intelligent glasses, AR/VR headworn display (HMD).
In the second half of 2023, Apple will release the AR/VR head display with OLEDoS. The product is equipped with two 1.4-inch 4K OLEDoS display panels with a resolution of up to 3000 PPI. It is expected that this epoch-making product will greatly promote the commercialization and market penetration of OLEDoS technology.
According to the data of RUNTO, in 2023, the global VR equipment shipments will be the first to exceed 10 million, reaching 12.7 million, up 40%; The scale of display panel applied to the whole meta-space device including XR will reach 1.6 billion dollars.
In terms of ultra-low power consumption display, Qingyue Optoelectronics mainly focuses on electronic paper display technology. At the beginning of this year, the China Industry and Information Technology Work Conference disclosed the key tasks for 2022, and electronic paper was among the forward-looking display industry layout to be strengthened. Since carbon peak and carbon neutral were written in the Government Work Report, electronic paper products have been recognized as one of the excellent solutions under the global “double carbon” goal.
According to RUNTO data, the overall market size of the global electronic paper industry will reach 24.9 billion US dollars in 2022, an increase of 120%; By 2025, the scale will reach US $72.3 billion, with a compound annual growth rate of 59%.