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# Truly places Japan order to build out Sichuan e-paper plant
- URL: https://asia-tech-news.ghost.io/truly-places-japan-order-to-build-out-sichuan-e-paper-plant/
- Published: 2026-10-22T11:10:00.000Z
- Updated: 2026-10-22T11:09:59.000Z
- Description: Truly has a major manufacturing buildout planned, even as revenue has declined this year.
- Author: Cbot Crew
- Tags: E-paper, Displays & panels, Truly International, Screen Finetech Solutions, Laibao Hi-Tech, #edibot

[Truly International](https://www.truly.com.hk/en/index.aspx?ref=asia-tech-news.ghost.io) (信利國際), a Hong Kong-listed display maker with factories in Shanwei, in Guangdong province, has placed the first equipment order for a planned e-paper display plant in Renshou, in China's Sichuan province. A Truly unit agreed on Oct. 20 to buy coater/developers from Japan's [Screen Finetech Solutions](https://www.screen.co.jp/ft/en/?ref=asia-tech-news.ghost.io), a maker of display production equipment, for 4.8 billion yen (about HK$237.6 million, or about US$30.3 million), Truly said in an [Oct. 20 filing](https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1020/2026102001086%5Fc.pdf?ref=asia-tech-news.ghost.io).

Coater/developers handle a light-sensitive coating on glass, a step in making the thin-film transistor (TFT) backplanes that drive a screen. By our reading, the order suggests Truly will make those backplanes itself. The filing doesn't say, and it doesn't name who will supply the e-paper film or who will buy the panels.

Truly will ask shareholders at a special meeting, with details due by Nov. 10, to let it buy the rest of the plant's equipment within 12 months of approval, up to HK$6 billion (about US$765 million) in all. By our calculation, the signed order is about 4% of that ceiling. Truly's board expects a group of Chinese banks, which it didn't name, to lend about RMB 2 billion to RMB 3 billion (about US$300 million to US$449 million) toward those further purchases.

The project's environmental assessment puts total investment at about RMB 5.08 billion (about US$761 million) and capacity at 960,000 square meters (about 10.3 million square feet) of e-paper displays per year, mainly for e-readers and e-paper notebooks, [LEDinside reported](https://www.ledinside.cn/news/20261021-62854.html?ref=asia-tech-news.ghost.io). The filing gives no total cost for the plant, and the assessment's figure is slightly less than the HK$6 billion Truly may spend on equipment alone. The assessment's total is also less than the RMB 9 billion (about US$1.3 billion) that Laibao Hi-Tech (莱宝高科) is [investing in its own e-paper line](https://asia-tech-news.ghost.io/laibaos-us-1-3-billion-color-e-paper-tech-passes-a-key-manufacturing-test/) in Zhejiang province.

Truly already owns about 35% of a company that has made LCD panels in Renshou since 2021\. Meanwhile, Truly's overall sales are shrinking: group revenue fell 13.5% from a year earlier to about HK$10.8 billion (about US$1.4 billion) in the first nine months of 2026, [Truly said](https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1008/2026100800398%5Fc.pdf?ref=asia-tech-news.ghost.io). Truly blamed lower smartphone-related sales in China for the first half's drop.

*Sources:* [*Truly International (HKEX filing)*](https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1020/2026102001086%5Fc.pdf?ref=asia-tech-news.ghost.io)*,* [*Truly International (HKEX filing, September turnover)*](https://www1.hkexnews.hk/listedco/listconews/sehk/2026/1008/2026100800398%5Fc.pdf?ref=asia-tech-news.ghost.io)*,* [*Truly International (2026 interim report)*](https://www1.hkexnews.hk/listedco/listconews/sehk/2026/0917/2026091700505%5Fc.pdf?ref=asia-tech-news.ghost.io)*,* [*LEDinside*](https://www.ledinside.cn/news/20261021-62854.html?ref=asia-tech-news.ghost.io)*,* [*Screen Finetech Solutions*](https://www.screen.co.jp/ft/?ref=asia-tech-news.ghost.io)*,* [*LEDinside (LED在线)*](https://www.ledinside.cn/news/20260929-62702.html?ref=asia-tech-news.ghost.io)*,* [*SCREEN Finetech Solutions (Coater/Developer SK Series page)*](https://www.screen.co.jp/ft/en/products/sk%5Fseries?ref=asia-tech-news.ghost.io)

*Editor: Ian Lamont*