On April 24th Mr. Yan Yang, President of Ionix Technology, Inc., (OTCQB: IINX), completed an inspection of the Ionix Shenzhen subsidiaries and reported to the Board of Directors on the operation of the two main businesses of the company. Management held a meeting of senior executives, CEO Mr. Cheng Li concluded that even with the slowdown of the Coronavirus epidemic, the two main businesses of IINX are quite stable and ushered in new opportunities in the second half of the year. Therefore, he planned and deployed the main IINX business plan of the new fiscal year.
First, in the field of LCD, with the IINX encouraging achievements in the technology and R & D of OLED products, and based on the progress and wide application of artificial intelligence products, IINX will seek greater interest growth points in the shipment of OLED products. Aiming for this, IINX will add two new OLED production lines in July 2020 to meet the market demand for OLED products. By that time, IINX will invest more than $13 million in various fixed assets and working capital, which will increase output by 1 million pieces of OLED products per year and increase the turnover by nearly $28 million per year.
Since January 2021, with an additional investment of around $26.9 million, four OLED production lines will be put into IINX construction and operation. The production capacity of all sizes of OLED products will be increased to 3 million pieces per year, and the turnover will rise to about $84 million per year. The above-mentioned all sized OLED products will cover medical, education, intelligent communication, urban transportation, intelligent wear and other fields, with a comprehensive gross margin of about 35%.
Secondly, in the field of smart energy, IINX will seek development in stability. The company’s established strategy is to aggressively seek new growth points on the basis of maintaining existing customers, cooperate with large and unicorn enterprises in various fields of the industry, and to participate in the sharing of economic benefits and achievements. One of the IINX subsidiaries, Lisite Science Technology (Shenzhen) Co., Ltd has accumulated considerable experience and certain contacts in this field, and the company will be supporting this in great efforts.
Finally, in the meeting, the CEO Mr. Cheng Li restated that he firmly believes IINX is an enterprise which is unbeaten in terms of technology and market share. After the baptism of the COVID-19 epidemic, all the data are improving. Therefore, IINX strongly supports the development of the enterprise, invests in it, and firmly believes that through such efforts the company will generate more substantial returns to all IINX shareholders.
For more information visit the IINX website at: www.theiinx.com
Company Name: Ionix Technology, Inc.
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