On March 16, Weishi Electronics announced that the company plans to raise no more than 590 million yuan by issuing convertible bonds, which will be used for the project of lightweight vehicle display components and replenished working capital.
The lightweight vehicle display module project plans to raise 490 million yuan, which will be implemented by Huaian Weishi Technology Co., LTD., a wholly-owned subsidiary of Weishi Electronics. The project construction period is 24 months, and after completion, it will have an annual production capacity of 4.33 million lightweight structural parts and 1.85 million display modules.
In addition, Weishi Electronics intends to use no more than 100 million yuan of the funds raised in this issue to supplement the working capital, so as to better meet the company's operating scale expansion needs for working capital.
Visey Electronics said that the investment project of the raised funds focuses on the new lightweight on-board display components, planning to expand the product line of lightweight on-board display structural components, and on this basis to improve the capacity configuration of the new on-board backlight display module. The product solution is in line with the current mainstream development trend of intelligent and lightweight automotive industry, and has considerable market space and business growth prospects.
According to the data, Weishi Electronics is the leading enterprise in the field of vehicle backlight display module in the world, and has been deeply engaged in the vehicle display industry for a long time. The company maintains a long-term good business relationship with JDI, Sharp, Tenma, LGD, Kyocera, Panasonic, Mitsubishi, China Star Optoelectronics, AU and other downstream leading enterprises, and has a continuous and stable order share.
Weishi Electronics said that the implementation of the fund raised investment project is based on customer demand as the premise, on the basis of order driven, the strategic layout of the lightweight vehicle display components market. With the help of deep binding with customer groups, the company timely knows the industry trend and customer's demand for lightweight products, which ensures that the product scheme of the project invested with the raised funds fits the customer demand in a deep way, and provides the order demand guarantee for the effective digestion of the project capacity.
The new lightweight vehicle-mounted display module produced by this raised fund investment project is a combination of new backlight display module and lightweight magnesium and aluminum structural parts. The product mainly adopts semi-solid injection molding, CNC, coating, formation, coating, solidification, electric measurement, curing, assembly and other production technologies and processes, and uses the integrated mold developed and produced by the company. The company's technology accumulation and talent reserve for the fund raised investment project laid the foundation for implementation.
In terms of technology accumulation, Weis Electronics has accumulated profound technology in the field of new display modules and related structural parts, and has mastered the production process of high precision and high consistency suitable for the field of vehicle; At the same time, based on the deep cooperation with customers and the pre-oriented product development mode, the company's technological achievements are based on the mainstream market demand, to meet the development trend of the industry.
In terms of talent reserve, Weis has a high-quality and professional management team, whose members have been dedicated to the field of vehicle display for many years, accumulated rich industry experience, and have a deep understanding and rich experience in product research and development, production management, quality control, market development and other aspects.
Visey Electronics said that the raised capital investment project combines the market demand and future development trend, in line with the development of automotive lightweight and the future development direction of the intelligent vehicle display industry, which will help the company to give full play to its advantages of scale, improve the company's overall competitive strength and anti-risk ability, and maintain and consolidate the company's market leading position in the vehicle display industry. In line with the company's long-term development needs and shareholders' interests.
