Aug. 31, 2011 (China Knowledge) - BOE Technology Group Co Ltd<000725
>, the largest liquid crystal display or LCD panel producer in China, announced that it plans to invest a total of RMB 22 billion to build a 5.5-genearation active- matrix organic light-emitting diode display devices (AM-OLED) production line.
The AM-OLED production line, to be located in Ordos
of the Inner Mongolia
Autonomous Region, will be completed in 29 months.
The company will set up a project company with a registered capital of RMB 12 billion to take charge of the construction of the project, and the remaining RMB 10 of investment will be from bank loans.
BOE Technology said that it suffered a net loss of RMB 1.22 billion in the first half, after losing RMB 541 million in the same period of last year. Losses per share were RMB 0.09 during the period. The company's operating revenue grew 18% year on year to RMB 4.94 billion in the first six months.
The company estimated that its loss will be between RMB 2.1 billion and RMB 2.3 billion in the first three quarters.