Major Chinese display maker BOE announced on Monday that it plans to build a new factory for VR displays and MiniLED’s backplane components in the Beijing Economic-Technological Development Area. The factory, focusing on the sixth generation of semiconductors for displays, will help the firm enrich its products and consolidate its leading position in this industry, according to the announcement. The factory will occupy 608,924 square meters and is estimated to begin mass production in 2025. The designed production capacity is 50,000 slices per month, according to the announcement. BOE’s statement noted that funding for the project was valued at RMB 29 billion ($3.99 billion). The company just reported RMB 41.13 billion in revenue for the third quarter, a 26.79% yearly fall, and saw a net loss of RMB 1.3 billion in the same period, a change of 118.01% compared to the third quarter of 2021. [BOE, in Chinese]