Financial - Page 10

China's Jilin Optical and Electronic Materials announced that it is set to raise 240 million Yuan (around $33 million USD) in a private placement of shares.

In 2020, Jilin Optical and Electronic Materials became public company when it started trading on the Shanghai STAR Market (ticker 688378). At its IPO, Jilin raised around $166 million, and the IPO was 3,426 times oversubscribed.

US-based high-index material maker Pixelligent Technologies has raised $38 million in a non-dilutive growth capital backed by its intellectual property portfolio.

The capital was provided by a funding vehicle managed by MVolution Partners. Together with an equity investment from its its strategic and financial shareholders, Pixelligent raised $45 million.

Samsung Electronics reported its financial results for Q3 2022, with its highest quarterly revenue ever (76.78 trillion Won, or $54 billion USD) and an operating profit of 10.85 trillion won ($7.7 billion USD), down 23% from the previous quarter.

Samsung Display saw record revenues (9.39 trillion Won) as demand increased for its OLED mobile panel business following the release of new flagship smartphones. The company expects to see continued strong demand for premium OLED displays.

LG Display reported its financial results for Q3 2022 - with a net loss of 774 billion Won (around $540 million USD) and a decrease of 6.3% in its revenues.

LGD says that demand for its panels is low - and in fact the company says that demand for premium OLED panels is dropping at an "unprecedented level" - especially in Europe. The market for OLED TVs is especially low.

Canada-based OTI Lumionics have raised $55 million in its latest round. This round included several strategic and financical backers - including LG Technology Ventures, Samsung Ventures, UDC Ventures, Anzu Partners and more.

OTI says it is close to commercialization of its technology and materials, but the company is still some years before this will reach products. Towards the end of 2022 OTI started shipping its 2nd-gen ConducTorr Cathode Patterning Materials (CPM) to customers, but perhaps these were only sample shipments. OTI materials are used to create OLED displays with under-the-display camera and face unlock technologies.

OLED microdisplay maker eMagin reported its preliminary financial results for Q3 2022, with revenues in the range of $7.4 to $7.6 million, an increase of 28%-31% from last year.

eMagin says it sees strong demand in the military market, increased revenue from medical customers and also increased R&D contract revenues.

DSCC says that spending on equipment for the production of large area OLED panels (used in TVs and monitors) have decreased from $3 billion in 2019 to $2.05 billion in 2020, $1.47 billion in 2021 and will drop further to $1.42 billion in 2022.

DSCC estimates that in 2023, the spending on such equipment will be zero. But OLED producers will resume buying large OLED equipment in 2024. Spending in 2024 will amount $2.01 billion, and in 2025 - $1.51 billion.

This is a sponsored post by Merck

Merck inaugurated its first OLED production site in China, that has now begun operations, and it joins Merck's China-based production of liquid crystals and photoresist materials.

Merck's local OLED production will give Merck's China-based and Asia-based customers easier and faster access to OLED materials and a stable and more flexible supply chain.

US-based Margik (previously Light and Charge Solutions) was featured at the Unicorn Hunters second season episode 14, and the company ended up raising 10 million Unicoins (a cryptocurrency initiated by the show, that is currently worth $1 million).

Margik, established in 2019, designs next-generation electron and hole transport materials (ETM, HTL) for organic electronic devices, including OLED lighting and display panels. The company says its materials offer high thermal stability and high resistance to moisture. Margik collaborates with Inuru to produce OLED based flexible "stickers".

OLED microdisplay maker eMagin reported its financial results for Q2 2022, with revenues of $7.2 million (up 14% from Q2 2021). The company's net loss was $1.4 million. At the end of the quarter, eMagin had $4.3 million in cash and equivalents. The company's backlog is $14.3 million.

eMagin says that it achieved increased sales of displays in both the defense sector (mainly the ENVG-B program) and also to the veterinary and surgical markets.