Apple Suppliers Looking to Raise $6 Billion for Sapphire and 3D Glass

Recently, Apple's close partner, the supplier of intelligent touch screen hardware material, Lens Technology Company has opened the news of the issuance of no more than 100 million A-shares again after coming into the market. They are planning to raise up to 6.0265 billion RMB of funds for further expansion of industrial chain.

According to the announcement of Lens technology, they plan to put the investment of 3.402 billion RMB for sapphire and intelligent terminal application project. The goal is to realize the annual output of 300 million pieces of sapphire camera, 240 million pieces of glasses of fingerprint protect glass, production capacity of 30 million pieces of wearable device screen protection glass and net income of 1.116 billion RMB.

At the same time, they will put the investment of 1.62 billion RMB in the production of 3D curved glass project, and the goal is to achieve the annual output of 27 million pieces of curved glass. It is estimated that the annual income of 2.009 billion RMB, and annual net profit of 680 million RMB.

The main customers of Lens Technology are Apple, Samsung and other well-known companies, whose sapphire glass has been widely applied in the camera, Home button of Apple iPhones and Apple Watch screen. If the fundraising plan was achieved, it is expected to help Apple to solve the supply and demand of the problems of low yield of sapphire in a certain extent.