Ennostar Sells Longtan Plant to Speed up Mini LED Development

On May 27, LED manufacturer Ennostar, on behalf of its subsidiary Epistar, announced that in order to liquidate idle assets, the company intends to sell a plant in Longtan District of Taoyuan, Taiwan to Ardentec, with a transaction amount of NT$430M (US$15M) and gain on disposal of NT$167M (US$6M). The two companies have signed a contract and are waiting for transfer approval from the Hsinchu Science Park Bureau, after which the transaction can be recognized in financial statements once the property right is transferred.

Ennostar indicated that the Longtan plant has been idle for years and selling this property does not affect overall production capacity. Following an evaluation, the company resolved to sell this plant to Ardentec with the hope of facilitating asset liquidation.


Photo source: PAIXIN.COM

Ennostar is a major Mini LED supplier of new iPad Pro products. The first batch of Mini LEDs for high-end tablets have been shipped to big clients between March and April, which will contribute to the company’s revenue growth. If these major clients create better-than-expected sales for their new products, the second shipment is likely to increase in volume and in turn boost Ennostar’s sales in Q2.

The annual mini-LED production capacity of Ennostar is presently 1M units, most of which will be allocated to production for iPad Pro. In 2H21, the production of new MacBook products is expected to adopt Mini LED-based display technology. Thanks to adequate production capacity and technological advantages, Ennostar is likely to re-enter Apple’s supply chain and become a major supplier.

 

(Source: Economic Daily News)

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