It is reported that active matrix OLED panel supplier Ritdisplay has signed a letter of intent with Micro LED manufacturer PlayNitride to jointly develop the next generation of Micro LED technology for wearable devices.
The board of directors of Sic Bo Technology approved a swap of 6.7 million new shares with PlayNitride on Tuesday, 10% of the equity of the value company. In a regulatory filing, Sic Bo Technology stated that detailed information on the conversion ratio will be disclosed after the parties have signed a formal stock swap agreement.
The transaction is expected to be completed by the end of this year.
DC Wang, CEO of Sic Bo Technology, said: “By the equity swap and strategic alliance with PlayNitride, it will help the company enter the next-generation Micro LED market. Since then, Sic Bo Technology will be able to produce, develop and sell Micro LED panels. Our The collaboration will also accelerate the commercialization of Micro LED technology. He also pointed out that the company plans to use this new technology to produce 3-inch displays for wearable devices.
As a founding player in 2014, PlayNitride is one of the world's leading developers of Micro LED technology, and the company has been planning to expand its production facilities to prepare for the mass production of Micro LED displays.
At the same time, Sic Bo has been negotiating with several potential customers to discuss how to use this new Micro LED technology in their new products.
Suibao Technology's net profit for the previous quarter was NT$28.67 million, half of the previous quarter's NT$65.95 million, or earnings per share of NT$0.43. Gross profit margin increased from 16.3% to 21.02%. However, due to the uncertainty of the US-China trade dispute, the customer delayed the launch of new products, the company's revenue fell from 6.3661 billion Taiwan dollars to 509.4 million Taiwan dollars, a decline of 21.31%.