MiniLED encapsulant leader "Conmet" received investment from GF Dry

"The only supplier of domestic LED and miniLED packaging leading enterprises."

Author: Darin

Edit: tuya

Producer: Financial Graffiti

Recently, GF Qianhe announced that it has completed its equity investment in Beijing Kangmet Technology Co., Ltd. (hereinafter referred to as "Kangmet"), the leader of miniLED encapsulant, becoming its only institutional shareholder of the securities company, but the specific shareholding ratio after the investment has not yet been announced. It is reported that Commet landed on the New Third Board in 2016, but was delisted from the New Third Board in April 2021.

After Guangfa Qianhe and the shareholding, the shareholder structure of Kangmet has been further improved, in addition to the industrial shareholders, it has also ushered in the institutional shareholders of the securities company, on the one hand, it has further enhanced the company's capital strength, on the other hand, it will also improve the corporate governance structure, which has taken an important step for its sustained and benign development.

Founded in 2005, Commet is a national high-tech enterprise focusing on the field of new materials, with the research and development, production, sales and service of polymer new materials as its main business. The founding team of the company comes from the Institute of Chemistry of the Chinese Academy of Sciences, and many experts and professors are the recipients of special allowances of the State Council. At present, The main listed and R & D products of Kangmeite include miniLED encapsulant, LED silicone encapsulant, micro-foam polymer material, LED epoxy resin encapsulant, lithium battery conductive adhesive, etc., the products involve LED and miniLED, lithium battery, electronics, aerospace, building insulation and other fields, customers include Hongli Optoelectronics, Guoxing Optoelectronics, BYD and other well-known leading enterprises at home and abroad.

In addition, a number of products of Kangmeite advanced technology, breaking the situation of "card neck" of imported products, has occupied the domestic LED and miniLED packaging materials, helmet materials, thermal insulation building materials and other new materials industry leading position, in some materials, even the only supplier in China.

With the maturity of supply-side technology, yield and cost problems have improved significantly, and the commercial application of MiniLED has also accelerated. According to Guoxing Optoelectronics, it is expected that the market size of MiniLED display will reach 660 million US dollars in 2023, and the CAGR will reach 35.55% in 20-23. As the front end of the supply chain, packaging benefits from the acceleration of the commercialization of MiniLED, and the market space is expected to expand rapidly, which in turn will also drive the demand for miniLED encapsulant.

The domestic alternative strength of Conmet in the miniLED industry may be the main reason for Guangfa Dry and choosing to invest in it.

Guangfa Qianhe said that it has always paid attention to the new material industry, especially optimistic about the new material segment that can be replaced by imports. With the increasingly fierce international competition in science and technology, the superimposed international epidemic has not been effectively controlled, and the production capacity of various industries will also converge to The domestic. New material companies with R&D strength and long-term cooperation with leading customers will usher in greater opportunities.

Among The customers of Conmet, Hongli Optoelectronics, Guoxing Optoelectronics, etc. are all leading enterprises in the field of LED packaging. At the arrival of the first year of miniLED, The performance of Commet may be gradually released.