Visionox loss widens, then Kunshan state capital takes control with 3 billion yuan
First-half loss widens on weak phone panel demand Visionox's first-half 2026 net loss widened to about 1.5 billion yuan as memory-chip price spikes made phone makers order cautiously and flexible OLED phone panel prices fell. Its main business is phone screens, so weaker prices and sales directly cut revenue and margins.
This is the core operating problem weighing on the stock and explains why the company needed rescuing.
Kunshan state capital injects 3 billion yuan and takes control Kunshan Yuanchuang will buy up to 3 billion yuan of new shares, lifting its stake to 30.33% and making Kunshan's zone committee the actual controller. The cash goes to working capital and debt repayment, easing the funding strain from years of losses.
This is the single biggest new event: a state-backed rescue that changes ownership and strengthens the balance sheet.
Push into mid-size OLED and new screen uses Visionox showed laptops, automotive and gaming screens at ChinaJoy, using its ViP technology, and its 8.6-generation line for mid-size panels is in equipment installation. Spreading beyond phones could reduce reliance on the weak, price-war-hit phone screen market.
It shows the company's plan to fix its loss-making phone dependence, a real long-term driver.
Small production-line upgrade contract awarded A supplier won a 47.28 million yuan bid to upgrade Visionox's sixth-generation flexible AMOLED line. It is a modest spending item that supports output capability, but small next to the company's billion-yuan losses.
It is a minor operational positive, included for completeness but far less important than the loss and the state investment.