NextEye Expands Inspection Equipment Business for China... "Diversifying Clients Including Shanshan Group"

[Asia Economy Reporter Hyungsoo Park] Machine vision inspection equipment company NextEye announced on the 3rd that follow-up orders for inspection equipment are expected to continue through diversification of its client base.

A NextEye official said, "After securing Shanshan Group in China, which is planning to expand its polarizer factory, as a new customer, we are strengthening our sales efforts in China to expand our market share in the Chinese LCD inspection equipment market." He added, "We are discussing additional supply of inspection equipment due to Shanshan Group's factory expansion, and we expect large-scale follow-up orders as early as the end of this year or early next year."

Recently, NextEye signed a contract worth 7.9 billion KRW (approximately 6.8 million USD) for automatic inspection machines for polarizing films with Shanjin Guangzhou, a polarizing film production subsidiary of China's Shanshan Group.

Shanshan Group entered the polarizer business through Shanjin Guangzhou after acquiring LG Chem's LCD polarizer business. Currently, Shanshan Group holds a 70% stake, and LG Chem holds 30%. Shanshan Group plans to increase its stake to 100%.

Listed on the Shanghai Stock Exchange, Shanshan Group is currently expanding its business into lithium batteries, polarizing films, and new energy sectors. It counts major Chinese panel companies such as BOE and China Star Optoelectronics Technology (CSOT) among its customers.

A company official introduced, "In addition to the existing LG Chem factory, Shanshan Group plans to invest about 400 billion KRW (approximately 22 billion CNY) to establish two new lines in Zhangjiagang, China," and "plans to invest about 630 billion KRW (approximately 35 billion CNY) to establish two new lines in Mianyang, China." He added, "We are currently negotiating the supply of inspection equipment for the four new lines and expect more than double the additional orders."