MVIS Technology unveiled in a formal Announcement (here, 'notice' serves as an apt synonym) its establishment of a wholly-owned subsidiary, Zhuhai Mingyao. This new entity will spearhead the indium phosphide semiconductor materials project, boasting a registered capital of 10 million yuan. The project's execution will unfold in two distinct phases: The inaugural phase earmarks an investment of 12 million yuan to construct a cutting-edge research and development laboratory, outfitted with 20 sets of process verification equipment. The subsequent phase anticipates a total investment ranging from 200 million to 260 million yuan, aimed at procuring 280 sets of primary manufacturing equipment, along with essential supporting facilities and the requisite working capital. The company's board of directors has conferred authority upon the management to initiate preliminary tasks, such as conducting environmental impact assessments, in alignment with the project's scale and scope.