Jingzhida opens subscription and raises RMB 600 million to develop Micro LED testing equipment, etc.

On July 7, Jingzhida opened subscriptions. The issue price was 46.77 yuan per share, the issuance price-earnings ratio was 83.35 times, and the subscription limit was 0.55 million shares. The listed sector is the Shanghai Stock Exchange Science and Technology Innovation Board, and CITIC Construction Investment is its exclusive sponsor.

Jingzhida is a testing equipment and system solution provider, mainly engaged in the research and development, production and sales of new display device testing equipment. The company's products mainly perform functional testing and calibration repair on optical properties, display defects, electrical properties and other new display devices represented by AMOLED.

In addition, Jingzhida is gradually extending its development into the field of semiconductor memory device testing equipment. Related products can be used for wafer testing, packaging testing and aging repair in the manufacturing of semiconductor memory devices represented by DRAM.

Currently, Jingzhida’s testing equipment has been successfully used in multiple mass production lines of display companies such as Visionox, TCL Technology, BOE, Guangzhou Guoxiang, and Tianma; in the semiconductor storage device industry, Jingzhida has developed and delivered products to customers such as Ruili Integration (Changxin Storage), Payton Technology, and Jinhua Integration.

In terms of performance, from 2020 to 2022, Jingzhida’s operating income was 286 million yuan, 458 million yuan, and 505 million yuan respectively; the net profits attributable to the parent company were 27.5025 million yuan, 67.9075 million yuan, and 66.1845 million yuan respectively.

Jingzhida estimates that in the first half of 2023, the company's operating income will be approximately 220 million yuan to 280 million yuan, a year-on-year increase of 3.13% to 31.25%; the net profit attributable to the parent company will be 29 million yuan to 43 million yuan, a year-on-year increase of 40.44% to 108.24%.

RMB 600 million invested in Micro LED, AMOLED and other testing R&D projects

After being listed on the Science and Technology Innovation Board, Jingzhida plans to raise RMB 600 million to invest in "new generation display device testing equipment R&D projects", "new generation semiconductor storage device testing equipment R&D projects" and to supplement working capital.

The prospectus shows that the "new generation display device testing equipment research and development project" plans to use 198 million yuan of raised funds. The specific contents of the project include AMOLED display device testing technology research and testing equipment upgrade research and development, large-size ultra-high-resolution display device-related production testing technology and equipment research and development, and miniaturized display device-related production testing technology and equipment research and development.

Among them, there are 5 construction contents related to the production and inspection technology and equipment research and development of miniaturized display devices:

1. Research on the overall solution for defect detection of Micro LED displays;

2. Research on optical systems and related software suitable for Micro LED AOI inspection;

3. Research the Gamma correction and Demura compensation algorithms related to Micro LED display;

4. Trial-produce fully automatic inspection equipment for the entire Micro LED process that meets customer mass production needs;

5. Develop and design signal source systems for Micro LED and MiniLED display inspection.

It is worth noting that Jingzhida is actively promoting the development of Micro LED related testing equipment technology. At present, Jingzhida's Micro LED detection optical system has achieved sub-pixel resolution of 1μm. Moreover, during the reporting period, Jingzhida completed the research and development of Micro LED microscopic imaging system.

In addition, Jingzhida is developing a microscopic appearance inspection system and a near-eye display inspection system to address the detection problems of massive transfer of Micro LED and ultra-small size display applications such as AR/VR.

Jingzhida stated that this fund-raising project will further extend the company’s industrial coverage in new display testing equipment, realize the research and development and innovation of new display device testing equipment in large, medium, small and micro sizes, and consolidate and enhance the market competitiveness of the company’s products.