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Taiwan’s Ennostar sold its Zhunan plant for NT$670 million (about US$21 million) and implemented financial restructuring measures. The company had planned to build a new MicroLED production facility in Zhunan, but decided to sell the plant and optimize resources due to low capacity utilization of blue LEDs.
Affected by the global economic downturn and weak demand, Ennostar’s blue LED epitaxial wafer business faced negative asset write-downs and negative asset capitalization, resulting in a consolidated net loss of NT$3.45 billion (US$108 million).
(Source: displaydaily Image source: freepik)
