Core tip: On March 9, it was reported that supply chain sources revealed that Qunzhi Optoelectronics, a wholly-owned subsidiary of Qunzhuang Optoelectronics Group, had closed at least 50 module production lines and optimized 20% of its employees (more than 5000 employees in total).
On March 9, it was reported that supply chain sources revealed that Qunzhi Optoelectronics, a wholly-owned subsidiary of Qunzhuang Optoelectronics Group, had closed at least 50 module production lines and optimized 20% of its employees (more than 5000 employees in total).
To this end, Qunzhi Optoelectronics responded that at present, our company is operating normally, with stable orders and continuous recruitment. The company currently has overseas investment plans, which is a normal business strategy and does not affect the main business operation.
On March 8, Jiwei.com reported that Ningbo Qunzhi Optoelectronics, a subsidiary of Qunzhuang Optoelectronics, had closed at least 50 module production lines, optimized 20% of its employees, and planned to move TFT-LCD module factories to India and Mexico.
According to the news, due to geopolitical and other factors, Ningbo Qunzhi Optoelectronics closed two module factories last year and planned to transfer TFT-LCD module factories to India and Mexico. So far, 168 engineers have worked in Indian or Mexican factories, and the remaining employees will gradually work in India or Mexico in batches.
At the same time, the news also said that Qunzhi Optoelectronics originally planned to optimize 20% of its personnel. However, since last year, Qunzhi Optoelectronics has had employees leave in succession. In addition, most employees are unwilling to work in India or Mexico. The turnover rate of Qunzhi Optoelectronics module production line has exceeded 40%.
In addition, it is understood that Qunchuang Optoelectronics has reached a transfer agreement on TFT LCD panel and module technology with Vedanta in India, which will help India realize the localization of FPD industry. It is expected that mass entrepreneurship will receive one-time technology transfer fees, and then obtain continuous royalty income on the display panel after the start of mass production. Of course, it is necessary to arrange more technical personnel to India to participate in production line construction and technical support.
Industry organizations predict that this production line will be similar to Qunzhuang 8B, and it is likely to use Gen8.6 or 2250x2600mm substrate. At present, its production capacity is expected to reach 60000 pieces per month.
It is reported that the total annual revenue in 2022 is about 49.8 billion yuan, with a net operating loss of 7.15 billion yuan and a net after-tax loss of 6.3 billion yuan.
For mass entrepreneurship, in the current extremely difficult market environment, the agreement of Indian enterprises is no less than a timely help. Like other companies in the display panel industry, the company is still struggling to overcome serious overcapacity, low prices and financial losses. This initial technology transfer will include a considerable amount of cash costs, which can be used to mitigate the current losses, and allow the group to gain some flexibility to integrate its business, while shifting the focus to higher value-added products.