On the seventh day of the Lunar New Year, just after the Spring Festival holiday, when many people were still enjoying family reunions, Hua Can Optoelectronics, a leading Chinese company in LED epitaxial chips, made a major move that caught the attention of the entire industry.
In February, Hua Can Optoelectronics announced the signing of a "Huacan Optoelectronics Advanced Semiconductor and Device Project Investment Framework Agreement" for an advanced semiconductor and device project within the Yiwu Information Optoelectronics High-tech Industrial Park. This ambitious initiative covers a wide range of technologies, including LED epitaxial and chip production, sapphire substrates, ultraviolet LEDs, infrared LEDs, microLEDs, MEMS sensors, vertical cavity surface emitting lasers (VCSELs), gallium nitride (GaN)-based lasers, and GaN-based power electronics.
The project is planned to require a total investment of 10 billion yuan. With the steady growth of the industry and the increasing diversification of LED companies, Hua Can has shown no hesitation in making such a significant financial commitment. What drives this bold move?
Firstly, the LED chip market remains highly promising. According to GGII data, mainland China's LED chip output reached 18.8 billion yuan in 2017, accounting for nearly 40% of global production. By 2019, it was expected to surpass 50%. In response to this optimistic outlook, companies like Sanan Optoelectronics, Hua Can, and Ganzhao Optoelectronics have all been expanding their capacities in 2017. For example, Sanan Optoelectronics announced a 33.3 billion yuan investment in compound semiconductors and integrated circuits, sparking a wave of activity in the chip industry.
At the 2017 Senior Engineers LED Annual Meeting, GGII predicted that LED chip companies would continue to expand production from 2018 to 2019, with the industry’s growth rate eventually stabilizing. During this period, chip manufacturers are competing fiercely to capture market share. Hua Can, currently ranked second in terms of LED chip scale, aims to close the gap with Sanan and further widen its lead over other competitors.
Secondly, in the sapphire substrate sector, Hua Can acquired Lanjing Technology, which holds independent intellectual property rights in key sapphire crystal growth technologies. The company has developed proprietary methods such as the crucible drop technique and single-crystal growth furnace systems, enabling large-scale production. Earlier last year, Lanjing Technology signed an agreement with the Hongta District Government of Yuxi City to expand its sapphire substrate production by 35 million units annually, with a total investment of 1 billion yuan. Once completed, Blue Crystal Technology is expected to become one of the world’s largest sapphire substrate manufacturers.
This investment not only ensures self-sufficiency but also strengthens the supply chain for epitaxial wafers and chips, enhancing Hua Can’s cost advantages and overall scale.
Additionally, Hua Can is actively developing emerging technologies such as infrared and microLED. The company expects to achieve mass production of infrared products by the end of last year. It is also collaborating with domestic and international customers to develop microLED technology and explore new applications, such as replacing traditional TV and mobile phone panels. The microLED market is significantly larger than the current LED chip market, with strong growth anticipated over the next five years through the adoption of MiniLED and MicroLED.
In the MEMS sensor field, Hua Can expanded its reach through the acquisition of Meixin Semiconductor. Meixin specializes in the R&D, manufacturing, and sales of MEMS products, including accelerometers and magnetic sensors used in smartphones, consumer electronics, and automotive safety systems. With annual sales exceeding 200 million yuan, Meixin is among the few companies capable of large-scale production of high-end MEMS devices.
Following the acquisition, Hua Can plans to build a MEMS industrialization platform using Meixin’s technological expertise, extending its business from LEDs into the MEMS sensor domain. IDG Capital Partner Yu Xinhua noted that MEMS product development and sales will become a crucial part of Hua Can’s core business, helping the company expand into consumer electronics, industrial applications, and the Internet of Things.
As semiconductor technology advances, MEMS sensors are becoming essential components in the era of the Internet of Everything. With China establishing a complete MEMS industry chain, the future of the MEMS sensor market looks very promising. Through its investment in Meixin Semiconductor and increased focus on MEMS projects, Hua Can aims to strengthen its position in this growing field, capitalizing on the opportunities brought by big data and the Internet of Things.
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