On June 26, AC Technologies signed an investment agreement with the Management Committee of Liangjiang New District of Chongqing to build the AAC Technologies Smart Manufacturing Industrial Park. With a total investment of USD 800 million, the project is expected to commence in 2020.
The signing ceremony was attended by Tang Liangzhi, Mayor of Chongqing and Deputy Secretary of the Chongqing Municipal Party Committee; Duan Chenggang, Member of the Standing Committee of Chongqing Municipal Party Committee, Secretary of the Party Working Committee, and Director of the Management Committee of Liangjiang New District; and Pan Zhengmin, Executive Director and Chief Executive Officer of AAC Technologies.
The target is to achieve a sales revenue exceeding RMB 10 billion by 2024
According to the agreement, AAC Technologies will build a smart manufacturing industrial park in the development zone governed by Liangjiang New District, Chongqing. The park will accommodate the research, development, and production of WLG lenses, automotive electronics, AIoT smart wearables, smart homes, and other optical and precision transmission products, an application-based and innovation-driven research park of optical technologies and the commercialization base, an optical talent incubation and training base, an optical technology research, application, and demonstration center, etc. The first installment of investment will be RMB 3 billion to generate a sales revenue not less than RMB 2 billion by 2021, and a sales revenue not less than RMB 10 billion each year from 2024 to 2030.
AAC Technologies’ settlement in Chongqing, Tang Liangzhi said, is an action to support the Belt and Road and the “China Western Development” initiatives, which is aligned with the innovation-driven development strategy and action plan led by big data and intellectualization that is aggressively implemented by Chongqing, and reflects its strategic insight. The Municipal Party Committee and the Municipal Government of Chongqing will further improve the business environment and provide quality and efficient services to AAC Technologies, helping the latter grow and thrive in Chongqing for mutual benefits.
Pan Zhengmin is confident in the Company’s future in Chongqing. He said AAC Technologies relies on the rapidly developing and market-proven premium optical lenses based on the WLG technology. This year, the Company will be geared towards the optics business on a larger scale as its future strategic direction and core business driver. The AAC Technologies Smart Manufacturing Industrial Park in Liangjiang New District of Chongqing, once completed, will boost the technological advancement and mass production of WLG glass lenses and fill the gap in the international optics industry, thus bringing new development opportunities for the smart terminal market. AAC Technologies should seize this opportunity and push the project to production on schedule as soon as possible, thereby contributing to the quality development of the intelligent industry in Chongqing.
AAC Technologies fills the gap in the optical market in Chongqing
AAC Technologies is a world-leading provider of smart devices and solutions. With 6,800 patents granted or pending, the Company possesses all the proprietary core technologies in acoustics, optics, and electromagnetic transmission.
Right now, AAC Technologies is a company that owns the world’s best WLG aspheric lens technology and is the first to massively produce WLG that features a significant improvement in imaging quality, aperture, resolution, and thermal stability over traditional plastic lenses and brings consumers a revolutionary photography experience. Relying on the technical expertise gained in the past ten years, AAC Technologies owns more than 2,500 core patents in the optics field, ranking first in the world. Its business covers medium- and high-end optical lenses and dual-camera/multi-camera solutions, automotive grade lenses, and iris recognition. The company has invested in Kaleido of Denmark, ISQR of Japan, and other advanced optical technology enterprises, and is currently building a world-leading precision optics manufacturing plant in the Czech Republic.
This smart manufacturing industrial park in Liangjiang New District of Chongqing marks another of ACC’s move for the optimal integration of its R&D technologies and production resources, and will accelerate the all-rounded development of the optics sector. This project, after being completed, will fill the gap of optics in the smart manufacturing industrial chain of Chongqing and provide key support to complete the electronic information manufacturing industry of Chongqing and Liangjiang New District, especially the automotive electronics industry.
The full industrial chain of “CLSCI” enjoys a promising prospect
At this moment when Chongqing is aggressively implementing the innovation-driven development strategy and action plan led by big data and intellectualization, Liangjiang New District takes strong measures to introduce electronic information leaders to consolidate and complete the industrial chain. The electronic information manufacturing industry represented by integrated circuits, display panels, and smart terminal clusters has taken shape.
Since a many core electronic component manufacturers are growing at a faster pace, including BOE, Leybold, AT&S, Wanguo, and Corning, Liangjiang New District will focus on injecting “smart factors” into traditional industries and create new drivers of smart industries. After AAC Technologies settles down its production base of high-precision products covering optical electronics and automotive optics and completes subsequent industrial chains and ecosystems, it will help Liangjiang New District develop the smart industry and guarantee a promising future for the full industrial chain of “CLSCI” (chips, LCD panels, smart terminals, core components, IoT).