According to 36kR reports, Xi 'an Simowe New Materials Co., LTD. (hereinafter referred to as: Simowe), a developer of flexible display sealing materials, recently completed nearly 100 million yuan of B round financing, led by TCL Industrial Investment, Rong Yi Investment, Ruilian New Materials and other joint investments. This round of financing is mainly used to expand production capacity and increase investment in research and development.
According to public information, Simoway was founded in November 2017, is a flexible organic light-emitting materials and packaging materials product developer, research and development, production, sales and service in one, with sealing materials, PI, optical adhesive and adhesive products.
In 2017, Simoway cut into the OLED packaging material track, which is the first industrialization transfer project of scientific and technological achievements of Xi 'an Jiaotong University settled in Fengxi New City, Xixian New District. The company is committed to breaking the technological monopoly of foreign manufacturers, and creating more competitive organic film packaging glue from the perspective of cost reduction and technical equivalence. The application fields include foldable and flexible electronic intelligent products.
This round of investors Rong Yi investment director Yan Weiliang said: "In the OLED competition, China started late, after more than a decade of continuous capital and research and development investment, the gap between domestic product capabilities and technical reserves and Korean and Japanese companies is narrowing year by year, the future in the global market share will increase year by year." Due to a series of factors such as weak terminal consumption, the operating situation of panel enterprises has continued to be under pressure in recent years, so there is an urgent need for localization of the supply chain to reduce costs. Xi 'an Simowe team has many years of continuous research and development experience in the field of OLED structural materials, the talent structure is complete, and belongs to the professor entrepreneurial team with strong landing. We are optimistic about the diversified product layout and strong continuous research and development capability of Simoway, and believe that Simoway will become the leading enterprise in the field of domestic OLED materials in the future, and become a high-quality enterprise with international competitiveness."
Chen Haowei, project director of TCL Production Investment, the investor of this round, said: "TFE INK, the main product of SMW, is a key upstream material for OLED display panels monopolized by Samsung Chemical in South Korea. The emergence of Simoway has broken the monopoly of foreign manufacturers in this field for many years, and is of great significance to TCL Huaxing's industrial chain layout and supply chain stability and cost reduction. The company is currently the only domestic enterprise that has passed the verification of TCL Huaxing and terminal brand owners, and is continuing to increase its volume. In this round, TCL Industrial Investment has maintained a long-term and stable cooperative relationship with Smolway by means of capital increase and shares, and has safeguarded the development of the company."
