en.Wedoany.com Reported - On June 17, Suzhou Shiming Technology disclosed an announcement regarding abnormal fluctuations in stock trading and issued a risk warning for its wholly-owned subsidiary, Changshu Shiming Chemical Technology Co., Ltd., which is undertaking the annual production of 5,000 tons of nano-pigment dispersion liquid for LCD display photoresists. The project will be constructed in two phases, with Phase I planned for completion by the end of December 2026 and Phase II by the end of June 2028, resulting in a relatively long overall construction period.
This project targets nano-pigment dispersion liquid for LCD display photoresists, a niche product within the display panel materials and electronic chemicals industry chain. Nano-pigment dispersion liquid primarily serves material systems such as LCD color photoresists, and its performance is closely related to pigment particle size control, dispersion stability, purity control, impurity management, and customer process compatibility, imposing high requirements on R&D, mass production, and quality consistency.
In the announcement, Shiming Technology noted that the project construction may face delays due to factors such as equipment delivery, construction progress, and customer verification timelines. The LCD color photoresist pigment dispersion liquid has high technical barriers, and downstream customer verification cycles are long, posing risks that R&D, mass production, and customer volume adoption may fall short of expectations.
Supply chain is also a key variable for the subsequent implementation of this project. Some production equipment and core raw materials for the project rely on imports. Changes in international trade policies and fluctuations in overseas supply chains may impact the project's commissioning and stable operation. If demand in the downstream LCD panel and photoresist industries shrinks, or if price competition from overseas manufacturers intensifies, the project's revenue and net profit after reaching full capacity may also fall below estimated expectations.
Prior to this announcement, Shiming Technology's stock trading experienced abnormal fluctuations. The company's stock saw a cumulative increase in closing price deviation exceeding 30% over three consecutive trading days from June 15 to June 17, 2026, triggering abnormal stock trading conditions. The company also stated that there were no errors or omissions in previously disclosed information, and that its current operating conditions and internal and external business environment had not undergone significant changes.
From a product perspective, the nano-pigment dispersion liquid project for LCD display photoresists helps Shiming Technology extend into the high-end display materials sector. This type of material sits at the intersection of the electronic-grade functional materials and display panel supply chains. Entering downstream customer systems typically requires a lengthy process of sample verification, process integration, and batch stability testing.
The subsequent progress of the project will mainly depend on the pace of Phase I construction, equipment arrival status, customer verification progress, and mass production yield performance. If Phase I is completed as planned by the end of December 2026, Shiming Technology will still need to advance capacity ramp-up and customer volume adoption. The extension of Phase II construction to the end of June 2028 implies that the project will have a relatively long observation period before contributing to the company's performance release.
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