Financial - Page 12

Last month we reported that India-based gold-trading company Rajesh Exports has proposed to build a $3 billion 6-Gen AMOLED fab in India. It is now reported that the project is progressing, and Rajesh has signed an MOU with the local government of Telangana, a state in southern India.

Rajesh Exports established a subsidiary called Elest for this project. The plan is to build a 6-Gen AMOLED fab and produce displays for smartphones, tablets and laptops.

China-based AMOLED producer Everdisplay is progressing with its expansion plan for its 6-Gen production line in Shanghai. EDO's new line, which will have a monthly capacity of 15,000 substrates is progressing as planned, with trial production expected in 2023.

It seems as if EDO is targeting automotive applications for its latest AMOLED displays. The company already started developing OLEDs for automotive applications in 2015, and now the company is now stepping up its efforts, as large displays are entering the automotive market.

The story of Royole financial situation continues to unfold. Last month we updated that Royole is in financial problems, and that it needs a new injection of cash in order to continue its operation.

We reported that Royole started to pay salaries for employees (after it did not pay for over 5 months), but according to a new update the company has started to lay off a large number of its employees in several departments, including sales, marketing, product development and more. In some departments, over 50% of the employees have received notices. It is understood that the compensation package for these employees is low.

China-based OLED lighting developer Yeolight Technology is starting to build a 4.5-Gen OLED lighting production line, in Huaibei City, Anhui Province, China.

The total investment in this new fab will reach 2 billion Yuan (around $300 million USD). Construction at the site has already began. When ready, the fab will have a yearly capacity of around 7 million OLED panels.

Digitimes has an interesting article, in which it details plans by a company based in India to establish a $3 billion AMOLED fab, in India .

The company, Rajesh Exports, is a gold trading company, that aims to become an EV battery producer, and an AMOLED display maker. The company apparently has launched a subsidiary called Elest for the AMOLED project, and it started talking to three states in India, in order to gain support for its 240 Rupee (around $3.1 billion USD) fab.

OLED microdisplay maker eMagin reported its financial results for Q1 2022, with a strong quarter. Revenues were $7.4 million (up 9% from 2021), as production increased 27% compared to 2021. The company's operating loss declined to $1.2 million ($2 million in Q1 2021), and its net loss was $0.1 million ($1.3 million adjusted for changes in warrant liability).

eMagin reported strong bookings, and an open orders backlog of $13.6 million.

UK-based SolOLED secured 200,000 GBP (almost $250,000 USD) in new funding from Scottish Enterprise to commercialize its novel OLED TADF emitter materials. SolOLED is launching a collaborative research project with CENSIS to commercialize the materials.

SolOLED was established in 2021 in the UK, to develop a family of novel solution-based TADF OLED emitter, based on technology that originated from the University of St. Andrews.

Last month we updated that Royole is in financial problems, and that it needs a new injection of cash in order to continue its operation. A new update from China suggests that some employees did not get paid for over 5 months. This has changed in the past week, and Royole is now paying the salaries.

But Royole's financial woes are likely not over. According to this new report, from 2017 to 2020, the company's revenues amounted to only $77 million, while its loss reached almost $500 million. The report also detailed Royole production: 7,748 units in 2018, 314,000 units in 2019 and 48,600 in the first half of 2020. Actual shipments were much lower.

Universal Display reported its financial results for Q1 2022, with revenues of $150.5 million and a net income of $50 million. UDC's results were better than expected as the adoption of OLED displays increases in AR/VR, smartphones, foldables, TVs, IT and automotive markets.

UDC reiterated its estimation that it will be ready to introduce a commercial blue PHOLED material to the market in 2024.

Visionox announced plans to build a new flexible and foldable OLED module production line, in Hefei. Total investment in the new project will amount to 11 billion Yuan (around $1.6 billion USD), and Visionox will receive financial assistance from the local government.

Visionox started trial production at its M4 flexible OLED module factory in Guangzhou in late 2020. The company's 2nd OLED line is located in Hefei and is already mass producing panels.