Hisense, a China-based electronics manufacturer, announced on September 19 the inauguration of its first LCM (Liquid Crystal Display Module) production line in Qingdao, with an estimated production capacity of 500,000 units per year, according to Chinese-language Sina News. Overall, Hisense plans to invest a total of 700 million RMB (US$93.1 million; US$1=7.5 RMB) in five LCM lines, including the one in Qingdao. Upon the completion of all five lines in 2009, Hisense expects to reach an annual capacity of three million units. In addition, Hisense plans to invest in a production line of LED (Light-Emitting Diode) backlight modules as well.