Shanghai Securities News | Raising Over RMB 1.3 Billion to Strengthen Core Business: Newway Photomask' Private Placement Application Accepted

Shanghai Securities News, www.cnstock.com (Reporter He Xinyi) — On March 3, the Shanghai Stock Exchange (SSE) newly accepted the application of Shenzhen Newway Photomask Making Co., Ltd. (hereinafter referred to as "Newway Photomask") for a share issuance to specific investors. The company plans to raise no more than RMB 1.38 billion, with the proceeds primarily earmarked for expanding production capacity of high-generation, high-precision photomasks.

Public information shows that Newway Photomask was established in March 2012 and is principally engaged in the research and development, production, and sales of photomasks. As a leading enterprise in China's photomask industry, the company possesses mass production capabilities for flat panel display photomasks covering the full generation range from G2.5 to G11. In 2024, the company ranked sixth globally and second domestically in the flat panel display photomask market with a 9% market share. In the G11 high-generation photomask segment, it ranked second worldwide with a market share of 25.52%.

The proceeds from the proposed fundraising will be primarily invested in the "Xiamen High-Generation High-Precision Photomask Production Base Project (Phase I)". The project entails a total investment of RMB 1.301 billion, of which RMB 1.07 billion is planned to be financed with the raised capital. The project plans to construct 5 new high-precision flat panel display photomask production lines, focusing on the R&D and production of various flat panel display photomasks of G8.6 and below, covering next-generation display technologies such as AMOLED and precisely meeting the needs of downstream application industries and customers.

According to the company, Newway Photomask has secured the project land and completed preliminary preparations, including project filing and environmental impact assessment procedures. Upon completion and commencement of operations, the project is expected to further optimize the company's product mix by increasing the proportion of high-end products, enhance its flat panel display industry chain layout in East and South China, and consolidate its competitive advantages in the flat panel display photomask sector. The implementation of the project will also enhance the company's large-scale production capacity for high-generation, high-precision photomasks, effectively alleviating current capacity saturation pressure and providing more stable localized supply to key customers such as BOE, TCL CSOT, and Tianma Microelectronics.