Chinese Display Giant BOE Surges by Limit After Teaming Up With US Corning to Co-Develop New Materials

(Yicai) May 21 -- Shares of BOE Technology Group rose by the exchange-imposed daily trading limit after the Chinese display panel giant said it will cooperate with US materials giant Corning to develop new materials.BOE [SHE: 000725] closed 10 percent up at CNY4.69 (68 US cents) in Shenzhen today.BOE and Corning will jointly explore technological development and market opportunities with commercial potential in the fields of next-generation consumer electronics and computing technology over the next three years, the Chinese firm announced yesterday.The partnership will focus on four cutting-edge application technologies: glass-based packaging substrates, foldable glass, perovskite glass substrates, and optical interconnects. Foldable glass is a key raw material for foldable displays, and perovskite glass substrates are the base material for solar perovskite cells.Glass substrates equipped with micro light-emitting diode chips can meet the demand of artificial intelligence high-performance computing chips for high-speed interconnect featuring ultra-high bandwidth, low latency, and low power consumption when made into optical interconnect modules.BOE and Coring have been strategic partners for over 20 years, said Wendell P. Weeks, chairman, chief executive officer, and president of the US firm. This partnership reflects the shared commitment of both companies to continuously explore new opportunities by leveraging their complementary strengths to support the development of next-generation consumer electronics and digital infrastructure technologies, he added.Apart from foldable displays, which are being used by multiple global brand customers and are in stable mass production and supply stages, BOE’s three other product categories have not yet achieved mass production.BOE is the world’s largest display manufacturer and is a leading global competitor in display panels, modules, and advanced manufacturing. Corning owns core patents and technological barriers in high-end glass materials, which are applied in multiple fields, such as displays, semiconductors, and optical communications.Editor: Futura Costaglione