China Business News, 5/21/08
Nanjing Huaxian High-tech Limited has announced it will begin production of shadow mask plasma display panels (SM-PDP) in Nanjing next month. The first batch of 42-inch high definition plasma TV sets using these panels will be launched on the market before the Beijing Olympics in August, and, in deference to major shareholder Panda Electronics, will use "Panda" as their brand.
Huaxian has invested RMB 150 mln in its plasma panel production line, and will increase its registered capital to RMB 773 mln in H2 2008. According to Wang Baoping, Huaxian's chief scientist, Huaxian will achieve production capacity of 120,000 panels per year by the end of 2008, and one million by 2010.
Editor's Note: Huaxian's SM-PDP line is one of the State-owned Assets Supervision and Administration Commission (SASAC)'s government-supported projects, and last year received RMB 20 mln in government funding. For more background on the project, please see, "NDRC Supports Panda PDP Project", MD 11/16/07 issue. http://www.marbridgeconsulting.com/marbridgedaily/archive/article/5405/ndrc_supports_panda_pdp_project1