According to Taiwanese media reports, Nichuang Technology has launched its first fundraising plan since its listing. The board of directors has decided to raise funds through two methods: issuing NT$800 million (equivalent to RMB 179 million) in secured convertible bonds (CB) and increasing capital by 12,000 cash bonds.
At its earnings conference, Neptunus stated that the funds raised will be used for capital expenditures, including equipment upgrades at its Zhunan plant, the purchase of next-generation Micro LED process equipment, and plans to purchase the plant currently leased from Epistar.
Based on Neptunus's closing price of NT$149 (equivalent to RMB33.39) last Friday, the cash capital increase is expected to be discounted by 20% as is customary, raising approximately NT$1.43 billion (equivalent to RMB320 million). Combined with the funds raised through the convertible bond (CB), the total amount raised is expected to exceed NT$2 billion (equivalent to RMB448 million). This is Neptunus's largest fundraising plan since its listing.
It is understood that Neptunus's main products currently cover automotive equipment, wearable devices, and televisions, and it plans to improve its gross profit margin through mass transfer technology. However, the main bottleneck for Micro LED at present is the high development cost. To this end, Neptunus is actively integrating upstream and downstream partners, such as AU Optronics and Epistar, to jointly build a Micro LED ecosystem.
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Since 2021, Neptunus has been collaborating with AU Optronics (AUO) on smartwatch display products, and further optimized its technology in 2023. It is expected to transition from trial production to full-scale shipments in the first quarter of next year. In addition, Neptunus is also jointly developing curved and rollable displays for automotive applications with AUO. In the future, Neptunus hopes to establish a new presence in Europe to better meet the needs of local automakers.
In addition, since 2020, Neptunus has been collaborating with Samsung of South Korea to showcase Micro LED TVs at the Consumer Electronics Show (CES) in the United States, and officially began supplying 89-inch products in 2023. Next year, the two parties will further launch 140-inch products.
In terms of performance, from January to November 2024, Nippon Tech's cumulative revenue reached NT$1.611 billion (equivalent to RMB360 million), an increase of 85.81% compared to the same period last year. Among them, the revenue in November alone reached NT$322 million (equivalent to RMB72.128 million), a significant increase of 283.07% compared to the same period last year.
Nextech stated that, benefiting from Samsung's planned launch of a 140-inch Micro LED TV, continued growth in wearable device panel shipments, and expanded sales of its self-developed Micro LED production equipment, revenue next year is expected to continue this year's growth trend. (Compiled by Mia)
