The opening ceremony of Lijing Micro LED mass production center is held in Wuxi's Liangxi district on Oct 29. [Photo/wxrb.com]

The Lijing Micro LED mass production center, co-built by Beijing-based visual media product manufacturer Leyard Group and Taiwan's Epistar Corporation, began operating in Wuxi's Liangxi district on Oct 29.

The project received a total of 1.3 billion yuan ($194.2 million) in investment and began in March. It will focus on the research, development, manufacture, and commercialization of Mini LED and Micro LED and is expected to generate 5 billion yuan in annual sales.

The newly-opened center will produce the world's smallest Micro LED display products using mass transfer technology, according to the company.

Officials from the company also noted that the current Mini/Micro LED production line in Taiwan, especially the giant transfer production line, will gradually migrate to the Wuxi center. The Wuxi center's products will mainly be used for Mini/Micro LED backlight products and Micro LED self-emitting display modules.

According to an official from the Liangxi industry and information technology bureau, representatives from the company conveyed trust in the business environment of Liangxi district, as it took only two months to greenlight the project.

As the world's leading pioneer in audiovisual technology, Leyard hopes to transform the TV industry with a new wave of Mini LED and Micro LED technology.

With the support of Leyard, Liangxi district is expected to pilot the manufacture of LED and use the products to develop a "nighttime economy".

During the opening ceremony, a Micro LED institute co-established by Leyard Group, Epistar Corporation, and Lijing was also launched.