XTPL goes ahead with the first ever industrial implementation for a leading display maker from China

Press release, January 03, 2025

XTPL goes ahead with the first ever industrial implementation for a leading display maker from China

XTPL (WSE: XTP), a Polish supplier of ground-breaking nanoprinting solutions for the global advanced electronics market, is going ahead with the first ever industrial implementation of its proprietary Ultra Precise Dispensing (UPD) technology. The Company has received an order for the first batch of UPD modules (printheads) to be deployed on the industrial production line of the end client – a leading display maker from China listed on the Shenzhen Stock Exchange with annual revenues of tens of billions of USD. The modules will be used to repair defects in modern, ultra-high resolution Flat Panel Displays (FPDs). For XTPL, this marks the start of a several-year relationship that will significantly contribute to the goal of achieving PLN 100 million in commercial revenues in 2026 as part of the implementation of the 2023-2026 Strategy. The Company has 9 projects underway aimed at industrial implementation of its technology. Having identified customer needs as part of those projects, development work is now under way. Assuming they are positively validated and fully implemented, the projects have a total potential estimated by the Company at around PLN 400 million in average yearly revenues over their respective lives.

The ordering party is Yi Xin Technology, the official distributor of XTPL solutions in the Chinese market and the direct partner to receive six modules from XTPL during the first half of 2025 is a leading Chinese manufacturer of machines for the mass production of modern FPDs. As a next step, the partner will build industrial devices using XTPL modules, which will be put on the production line of the leading display manufacturer from China.

“The order for the first batch of UPD modules for use on the industrial production line of a leading manufacturer of advanced electronics opens a completely new chapter in the XTPL development. Now that we have developed a breakthrough technology and following the positive verification of its business potential through the commercialization of the Delta Printing System line – a demonstrator of the technology – we have a broad pipeline of projects being evaluated by global players for industrial use. Today we are reaching the most critical stage in the Company's history, namely industrial implementation, for our project in China. This is the beginning of a long-term and promising relationship as part of the first industrial application of the XTPL technology” says Filip Granek, CEO of XTPL S.A.

“The order we have received is an outcome of the positive evaluation of our technology by our direct partner and the end client, based on prototype industrial device tests started in October 2024. XTPL is now becoming part of the multi-billion dollar value chain of the global manufacturer of advanced electronics, proving the industrial potential of the solution offered. We’ve been working on this accomplishment for the past 9 years. Now we can confirm our innovation on a global scale while significantly increasing the chance of success of subsequent industrial projects in our pipeline. We have a total of 9 such projects at the development stage, 3 of which are the most advanced as they are undergoing tests on a prototype industrial device and relate to key markets: USA, Taiwan and South Korea. We expect that the industrial implementation that we will be part of will be noted and recognized by players in the additive technology market and will have a positive impact on the dynamics of decision-making processes in other projects, including new ones, aimed at further industrial implementations of our technological solutions on global production lines of modern electronics” Filip Granek adds.

XTPL’s UPD technology allows extremely small amounts of special materials to be applied almost to any substrate, e.g. an electronic PCB, with an accuracy of 1 μm (a micrometer, one millionth of a meter). Precision, compatibility with the widest range of functional ink viscosities and the possibility of using flexible substrates and complex three-dimensional structures, including step structures, help overcome the barriers to modern methods of advanced electronics manufacture. Miniaturization of printing, combined with high viscosity and industrial readiness are the main advantages of the XTPL solution. UPD technology can be used in the rapidly growing printed electronics sector, notably in areas such as semiconductors, displays, advanced integrated circuits or biosensors. The platform character of this technology allows for a wide range of potential applications.

UPD modules developed by XTPL will be used by the leading display manufacturer from China to repair defects in ultra-high resolution FPDs. The manufacture of such devices, which are characterized by a small screen diagonal (e.g. smart watches, smart glasses) and ultra-high resolution, is a challenging and technologically complex process. This limits the efficiency of production lines and results in too many rejects – products that fail to meet specifications due to manufacturing defects. The XTPL technology can be used to repair or remove selected defects, increasing production line efficiency and generating significant financial benefits for the manufacturer.

“The delivery of the order for the first six UPD modules is the initial stage of industrial implementation for the end client from China. In the first half of 2025, we will deliver them to our direct partner – a leading Chinese manufacturer of machines for the FPD industry. Each year, that manufacturer provides its customers with approximately 100-150 industrial machines similar to those it is going to build with the use of our products. The target number of modules ordered and the implementation time frame will depend on the end client’s decisions, while the sheer magnitude of such projects warrants delivery of at least several tens of modules over a period of multiple years. In addition to the direct impact on revenues from module sales, we expect to achieve additional income from maintenance and the use of consumables (nanoinks). We believe that the first industrial implementation will significantly contribute to our goal of achieving PLN 100 million in commercial revenues in 2026, as provided for under our 2023-2026 Strategy” says Jacek Olszański, CFO of XTPL S.A.

Yi Xin is XTPL’s Chinese distributor, which has been operating in the market since 2011 and specializes in additive technologies and searching for innovative solutions dedicated to the printed electronics segment. The company has an extensive network of relationships with major Chinese research institutes and industrial manufacturers from the modern electronics sector. Between 2022 and 2024, Yi Xin Technology generated 10 orders for XTPL Delta Printing System devices in the Chinese market.

XTPL’s business model is based on three complementary business lines. These are UPD modules for industrial implementation on the production lines of global manufacturers of electronics, the Delta Printing System prototyping devices and High Performance Materials (HPM, nanoinks). In addition, a new DPS+ line of devices is being developed to address the niche between DPSs and UPD modules.

The Company has 9 projects at least at the second stage of processes aimed at industrial implementation of its technology (completed initial contact, identified customer needs, started technology evaluation and development by XTPL), including 4 projects at the most advanced stage, covering areas of strategic importance for the Company: semiconductors and displays. The Company’s end clients or partners are global entities responsible for the production of next generation electronics, including a Chinese manufacturer of machines for the sector of modern displays, a leading semiconductor manufacturer from Taiwan, one of the world’s largest producers of FPDs from South Korea and a top manufacturer of industrial machines from the United States, listed on the Nasdaq 100 index.