LAS VEGAS, Sept. 26, 2019 /PRNewswire/ -- Ionix Technology, Inc. (OTCQB: IINX), ("Ionix Technology", "IINX" or "the Company"), a business aggregator in photoelectric display and smart energy fields, today announced its wholly-owned subsidiary Dalian Shizhe New Energy Technology Co., Ltd. ("Dalian Shizhe") officially put two wind farm service vessels into operation.
The wind farm service vessel is a vessel specially designed for the operation and maintenance of offshore wind turbines. The vessel is outfitted to transport heavy cargo, along with personnel and technicians to offshore wind farms safely and precisely. The vessel's deck can carry wind turbine maintenance equipment, and containers for tools, spare parts, etc. The wind farm service vessel also offers comfortable accommodation facilities to personnel and technicians.
According to the "China Offshore Wind Power Industry Market Prospect and Investment Strategic Planning Report" by Qianzhan Industry Research Institute, China's offshore wind total pipeline capacity was 3,630 megawatts (MW) by the end of 2018, with an increase of 1,160 MW relative to 2017. It is predicted that the total pipeline capacity of offshore wind power will reach 1,067 MW in 2023. According to Qianzhan Industry Research Institute, by 2020, the scale of the domestic offshore wind farm service vessel market will reach 740 million RMB. In 2024, the overall scale will reach 3.7 billion RMB, with a compound annual growth rate of about 50%.
Dalian Shizhe now has two professional wind farm service vessels officially launched in early September 2019. At present, the vessels have been completely put into operation. The company provides specialized offshore wind support solutions for wind farms that optimize the safety of crew and equipment and the efficiency of operations. The solutions cover activities including transportation of equipment, fuel, goods and personnel, emergency response supplies such as first aid and fire-fighting, etc. The company plans to expand its wind farm service team by launching an additional vessel before the end of 2019, building a professional team that can provide offshore wind support services for 100 offshore wind turbines.
"Located in Dalian, a coastal city in north China, Dalian Shizhe has the geographical advantage in the offshore wind support industry. Zhuanghe, an immediate city of Dalian, is the first smart energy pilot city in China with a plan to build wind projects with a total capacity of 300 MW. The local wind farm service is still a blue ocean market," said Mr. Cheng Li, Chairman of IINX. "The operation of the two wind farm service vessels is a good start for Dalian Shizhe to establish a professional offshore wind support team. We believe that Dalian Shizhe can grasp the market opportunity for offshore wind support services."
About Ionix Technology, Inc.
Ionix Technology, Inc. is a holding company that is principally engaged in the photoelectric display and smart energy industries. The company has four operating subsidiaries: Changchun Fangguan Photoelectric Display Technology Co., Ltd, a company which specializes in developing, designing, producing, and selling TN and STN LCD, STN, CSTN, and TFT LCD modules as well as other related products; Shenzhen Baileqi Electronic Technology Co., Ltd, a company which specializes in LCD slicing, filling, researching and designing, manufacturing and selling of LCD Modules (LCM) and PCBs; Lisite Science Technology (Shenzhen) Co., Ltd., a company engaged in the production of intelligent electronic devices; and Dalian Shizhe New Energy Technology Co., Ltd., a company engaged in photovoltaic power generation, electric vehicles and charging piles with corresponding operation and maintenance and three dimensional parking. Currently, IINX has embarked on the layout of industrialization and marketization of front end materials and back end modules of liquid crystal displays and applications of flexible folding display technology by taking Changchun Fangguan and Shenzhen Baileqi as production bases, to seize the market share of OLED high technology.
To learn more, please visit our website: www.theiinx.com
Safe Harbor Statement
This news release contains "forward-looking statements" as that term is defined in the United States Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Statements in this press release that are not purely historical are forward-looking statements, including beliefs, plans, expectations or intentions regarding the future, and results of new business opportunities. Actual results could differ from those projected in any forward-looking statements due to numerous factors, such as the inherent uncertainties associated with new business opportunities and development stage companies. Ionix Technology assumes no obligation to update the forward-looking statements. Although Ionix Technology believes that any beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should refer to the risk factors disclosure outlined in Ionix Technology's annual report on Form 10-K for the most recent fiscal year, quarterly reports on Form 10-Q and other periodic reports filed from time-to-time with the U.S. Securities and Exchange Commission.
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SOURCE Ionix Technology, Inc.
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