Honglitronic Invests in New LED Manufacturing Base

News Source: 
Securities Times

On Sept. 5, 2014, Chinese LED manufacturer Honglitronic announced it signed an “investment partnership agreement” with Nanchang City government in Jiangxi Province, China, and is currently constructing a new LED manufacturing base in the city. The investment was approved by the company’s board of trustees in a recent meeting, according to a Securities Times report.

To build another LED factory, the company plans to raise financing to purchase 199 hectares (300 mu) of land in the Linkong Economic Zone in the city. Honglitronic has reserved 199 hectares of land for a period of three years, and is planning to invest RMB 1.01 billion (US $160 million) in R&D, production, and sales of LED package components and lighting products.

The company is also carrying out plans to establish a new wholly owned subsidiary Jiangxi Honglitronics, which will be responsible for acquiring the new factory’s land use rights and sales of certain products. Remaining LED products manufactured by the Nanchang site will be sold by other subsidiaries or through a new subsidiary. The registered capital of Jiangxi Honglitronics will be RMB 1 billion.

Honglitronic’s new LED manufacturing site will occupy an area of 200,000 square meters, with the company investing RMB 1.01 billion in the new factory. The first phase of the factory will occupy 100,000 square meters, and will be mainly used for R&D, production, sales of LED package components and lighting application products. The applications include general lighting, backlight source, automotive lighting, special lighting applications, display and other fields. The new factory’s annual LED component manufacturing capacity is expected to reach about 16,200 KK (based on 3014 single LED chip production capacity) after construction is completed. Annual LED production capacity is about 90 million PCS (estimations use LED bulbs production capacity as references). Projected annual market value is RMB 1.58 billion. The future manufacturing site will become the company’s second business development center and production site after the Guangzhou factory.

After the new factory constructions are completed, the company projects annual revenue will be RMB 15.83 billion and net profit to reach RMB 10.92 billion.

Disclaimers of Warranties
1. The website does not warrant the following:
1.1 The services from the website meets your requirement;
1.2 The accuracy, completeness, or timeliness of the service;
1.3 The accuracy, reliability of conclusions drawn from using the service;
1.4 The accuracy, completeness, or timeliness, or security of any information that you download from the website
2. The services provided by the website is intended for your reference only. The website shall be not be responsible for investment decisions, damages, or other losses resulting from use of the website or the information contained therein<
Proprietary Rights
You may not reproduce, modify, create derivative works from, display, perform, publish, distribute, disseminate, broadcast or circulate to any third party, any materials contained on the services without the express prior written consent of the website or its legal owner.

Streetlights and high-bay fixtures require high flux and efficacy to meet the ever increasing demands for system efficiency and energy cost reduction for these applications. Today, LUXEON 5050 LEDs received an upgrade in both flux and efficacy... READ MORE

The recent outbreak of COVID-19 has prompted the large-scale search for practical solutions that can prevent the spread of the deadly virus — from researchers and scientists committed to finding a solution, to the manufacturers and consu... READ MORE