Kunshan State Capital Takes Control of Visionox with 3 Billion Yuan, Raising Stake to 30.33% as Controlling Shareholder

21世纪经济··CN·Read original
3▲1 ▼0Impact / 5
Summary · why it matters

Visionox disclosed an acquisition report on October 7. Kunshan Yuanchuang Investment Group plans to subscribe in cash for up to 419,038,812 A-shares to be issued by Visionox to specific investors, with a subscription amount not exceeding 3 billion yuan. Based on the maximum issuance, Kunshan Yuanchuang's stake in Visionox will rise from 9.43% to 30.33% after completion, making it the controlling shareholder. The Management Committee of Jiangsu Kunshan Economic and Technological Development Zone will become the actual controller, ending Visionox's status of having no controlling shareholder and no actual controller. After deducting issuance expenses, all funds raised from this private placement will be used to supplement working capital and repay company debt. The issue price will change from the original fixed price of 7.01 yuan per share to a book-building model. Kunshan Yuanchuang has committed not to transfer the subscribed shares for 60 months from the completion of the issuance. Previously, a plan for Hefei Jianshu under Hefei state capital to take over was terminated in September 2026, and Kunshan Yuanchuang took over. Visionox has been incurring losses since 2021, with cumulative undistributed profit of negative 12.166 billion yuan on its consolidated statements as of the end of 2025. However, in the first half of 2026, its global AMOLED smartphone panel market shipments grew 9.7% year on year, with a market share of 10.4%.

Impact on assets 1

Others▲
Visionox Technology Inc
002387
▲ PositiveCapitalrelevance

Kunshan state capital injects up to 3 billion yuan via private placement, becoming controlling shareholder and shoring up working capital/debt repayment.

Off-coverage companies 2

昆山元创投资集团有限公司i
Private▲ PositiveCapitalrelevance

Kunshan Yuanchuang subscribes up to 3 billion yuan in Visionox shares, raising its stake to 30.33% and becoming controlling shareholder.

Hefei Jianshui
Private± Mixedrelevance