New IPO News | Yunyinggu Technology, an 'AMOLED display driver chip supplier,' has launched its IPO and plans to list on May 27, with a minimum subscription amount of HK$4,203.98 per lot

Futu Information reported on May 18 that $VIEWTRIX TECH (03310.HK)$ The company announced that the IPO will be open for subscription from May 18 to May 21, offering approximately 52.8592 million shares globally, with listing expected on May 27.

Company Overview

According to a Frost & Sullivan report, by 2024 sales volume, Yunyinggu Technology is the fifth-largest supplier in the global smartphone AMOLED display driver chip market and the largest in mainland China. The company is committed to providing reliable and high-performance display driver solutions to consumer electronics brand companies.

After more than a decade of development, Yunyinggu has become a technology-driven brand in the display industry, consistently emphasizing value creation for brand companies. According to Frost & Sullivan, the company was the first in mainland China to obtain certification from brand companies and remains the only AMOLED display driver chip enterprise in mainland China to have shipped over 10 million units cumulatively to brand companies. Additionally, the company’s total sales volume exceeded 50 million units in 2024.

Financial Summary

Yunyinggu Technology's revenue increased from RMB 720.4 million in 2023 to RMB 891.3 million in 2024 and RMB 1,105.7 million in 2025. The company’s research and development expenses were RMB 177.0 million, RMB 242.2 million, and RMB 266.0 million in 2023, 2024, and 2025, respectively, accounting for 24.6%, 27.2%, and 24.1% of annual revenue in each respective year.

Use of Proceeds

In terms of the use of proceeds, Yunyinggu Technology expects net proceeds from the global offering to be approximately HKD 997 million (assuming the over-allotment option is not exercised and based on an offer price of HKD 20.81). According to the prospectus, Yunyinggu Technology intends to allocate the proceeds from the global offering for the following purposes:

Approximately 47% will be used to support the research and development as well as optimization of AMOLED TDDI chips; around 33% will be allocated to support the R&D and optimization of Micro-OLED and Micro-LED display backplanes/drivers; about 10% will be utilized for strategic investments or acquisitions to seize future development opportunities; and approximately 10% will be earmarked for working capital and other general corporate purposes, including daily operations and general corporate expenses.

Further reading:Yunyinggu Technology's Prospectus

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