176 million yuan, Visionox and Korean companies reached display equipment cooperation

On February 24, Korean media reported that South Korean display equipment company ICD officially announced that the company had signed a supply contract for flat panel display manufacturing equipment with Chinese display company Hefei Visionox Technology Co., Ltd.

According to the announcement, the total value of this contract is as high as 36.661 billion won. This amount accounted for 24.83% of ICD's total revenue in the most recent fiscal year.

Hefei Visionox is one of Visionox's core production bases. As China's earliest enterprise engaged in OLED R&D and production, Visionox has deep accumulation in the field of flexible AMOLED technology.

In 2018, Hefei Visionox built Anhui Province's first high-end flexible AMOLED panel production line, with a total investment of 44 billion yuan. It is the largest single industrial project in Anhui Province as of 2018. The products cover various flexible products such as watches, tablet-like/folding mobile phones, tablets, and laptops.

In addition, in 2024, Hefei Guoxian Technology Co., Ltd., which is jointly invested and constructed by Visionox and Hefei State-owned Assets, will start construction with a total investment of 55 billion yuan and a designed production capacity of 32,000 glass substrates per month, covering multi-size application fields such as tablets, laptops, vehicles, and displays. It is the world's first high-generation AMOLED production line equipped with FMM-free technology. In 2025, the project’s production plant will be fully capped.

ICD, headquartered in South Korea, is a world-renowned supplier of display panel manufacturing equipment. Since its establishment in 2000, it has occupied an important position in the international market with its independently developed high-density plasma dry etching machine. ICD's technology can effectively improve the yield rate of high-resolution, high-performance display panels, so it has long been a core partner of Samsung Display, LG Display and major Chinese panel manufacturers.

According to the agreement signed by both parties, the performance period of this contract is from February 10, 2026 to December 10, 2026. It is worth noting that the settlement method of this contract is relatively special. There is no deposit or advance payment, but a payment model of 90% mid-term payment and 10% final payment. This payment structure reflects the mutual trust established by both parties in the long-term cooperation, and also places higher requirements on ICD's production delivery capabilities and capital chain management.

As the global display industry accelerates its transformation into small and medium-sized OLED and automotive displays, Hefei Visionox is expected to further improve the automation level and production efficiency of its production lines by introducing advanced ICD manufacturing equipment, and enhance its competitiveness in the global flexible panel market.