China-based Shaanxi Lighte Optoelectronics Material (LTOM) is planning to raise 766 million Yuan (about $108 million USD) in a private placement of shares. The funds will mainly be used to expand its OLED material production capacity, and upgrade its R&D center.
LTOM was established in 2010, and is a developer of OLED and pharmaceutical materials. In recent years it has focused mostly on its OLED side of the business. The company, which trades in the Shanghai STAR Exchange (688150.SS), produces a wide range of OLED stack materials, including emitters, host materials, and HTL materials.
The company is said to be generating the highest revenue among all China-based OLED materials makers, and has an annual capacity to produce 300 tons of materials - and now it is set to expand its capacity further.
In its latest financial report, LTOM said it recorded a net profit of 170 million Yuan in 2024 ($24 million USD), up 46% from 2023. The company's materials have been used by major Chinese OLED producers, and it has managed to substitute some foreign high-end materials with its own.
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