Core Viewpoint - Shanghai Huirui Optoelectronics Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with CICC as the sole sponsor, after a previous attempt in April 2025 [1]. Company Overview - Huirui Optoelectronics is a leading manufacturer of AMOLED semiconductor display panels, focusing on R&D and production to deliver exceptional color accuracy, visual experience, and low power consumption [4]. - The company became the first in China to achieve mass production of AMOLED panels in 2014 and expanded its capacity with the sixth-generation AMOLED production line in 2019 [4]. Market Position - According to Zhaoshang Consulting, Huirui Optoelectronics ranks third globally and first in China in terms of AMOLED panel shipments for 2024 [5]. - The penetration rate of AMOLED technology in the global display panel industry is expected to increase from 29.2% in 2024 to 35.8% by 2030 [5]. - Huirui Optoelectronics maintains strong partnerships with leading Chinese smart device manufacturers and has served major consumer electronics brands and two of the top five Chinese automotive companies [5]. Product Applications - The company's product offerings cover four main application areas: tablets/laptops, smartphones, smart wearables, and automotive displays, with sizes ranging from 0.95 inches to 27 inches [6]. Financial Performance - The revenue figures for Huirui Optoelectronics are as follows: approximately 4.191 billion RMB in 2022, 3.038 billion RMB in 2023, and projected 4.958 billion RMB in 2024 [6][7]. - The company reported losses of approximately 1.601 billion RMB in 2022, 3.244 billion RMB in 2023, and projected losses of 2.518 billion RMB in 2024 [6][7].

Core Viewpoint - Everdisplay Optronics (Shanghai) Co., Ltd. is seeking to list on the Hong Kong Stock Exchange after a previous application was invalidated, with a current market capitalization of approximately RMB 37.6 billion as of October 23, 2025 [2]. Company Overview - Established in 2012, Everdisplay Optronics is a leading manufacturer of AMOLED semiconductor display panels, focusing on developing low-power displays with exceptional color accuracy and visual experience [3]. - The company ranks third globally and first in China for large-sized AMOLED semiconductor display panel manufacturing by sales volume in 2024 [4]. Market Position - In the tablet and notebook computer sector, Everdisplay Optronics holds the second position globally and first in China, with a market share of 63.4% among Chinese manufacturers [4]. - The company is also the fourth largest globally and second in China for automotive display panels by sales volume in 2024 [4]. Product Matrix - The company has diversified its product offerings across various sectors, including tablets, smartphones, wearables, and automotive displays, while also exploring emerging applications in aviation displays [7]. - Everdisplay Optronics operates 4.5-generation and 6-generation AMOLED production lines, capable of producing rigid, flexible, and hybrid AMOLED displays [7]. Financial Performance - The company's revenue for the years 2022, 2023, 2024, and the first half of 2025 were RMB 4.19 billion, RMB 3.04 billion, RMB 4.96 billion, and RMB 2.67 billion respectively, with corresponding net losses of RMB 1.60 billion, RMB 3.24 billion, RMB 2.52 billion, and RMB 839 million [13][14]. - The revenue breakdown shows that AMOLED products accounted for 99% of total revenue in 2022, decreasing slightly to 97.3% in the first half of 2025 [8]. Shareholder Structure - Prior to the Hong Kong listing, the major shareholder is Shanghai United, wholly owned by the Shanghai State-owned Assets Supervision and Administration Commission, holding approximately 58.35% of shares [10][11]. - Other significant shareholders include the Integrated Circuit Fund Company with 10.48% and various A-share shareholders holding 28.21% [10][11]. Management Team - The board of directors consists of 10 members, including 2 executive directors and 4 non-executive directors, along with 4 independent non-executive directors [12][13].

Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited and the Securities and Futures Commission take no responsibility for the contents of this Application Proof, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this Application Proof. Application Proof of Everdisplay Optronics (Shanghai) Co., Ltd. 上海和輝光電股份有限公司 (the "Company") ( ...

Group 1 - The core point of the news is that Shanghai Hehui Optoelectronics Co., Ltd. (referred to as Hehui Optoelectronics) submitted its Hong Kong IPO prospectus on April 23, 2023, which has now expired after six months on October 23, 2023, with China International Capital Corporation (CICC) as the sole sponsor [1] - Hehui Optoelectronics is recognized as a global leader in the manufacturing of AMOLED semiconductor display panels, focusing on research and development to provide extraordinary color accuracy, excellent visual experiences, and low power consumption [2] - According to a report by Zhi Shi Consulting, Hehui Optoelectronics ranks second globally and first in China in terms of cumulative sales volume of large-sized AMOLED semiconductor display panels from 2022 to 2024 [2]

Group 1 - The core point of the news is that Shanghai Hehui Optoelectronics Co., Ltd. (stock code: 688538.SH) submitted its Hong Kong IPO prospectus on April 23, 2023, which has now expired after six months on October 23, 2023, with China International Capital Corporation serving as the sole sponsor [1] Group 2 - Hehui Optoelectronics is a leading manufacturer of AMOLED semiconductor display panels globally, focusing on the research and production of panels that provide extraordinary true colors, excellent visual experiences, and low power consumption [2] - According to a report by Zhi Shi Consulting, Hehui Optoelectronics ranks second in the global market for large and medium-sized AMOLED semiconductor display panel manufacturers in terms of cumulative sales from 2022 to 2024, and it is the number one manufacturer in China [2]

Group 1 - The core point of the article is that Shanghai Hehui Optoelectronics Co., Ltd. (stock code: 688538.SH) submitted its Hong Kong IPO prospectus on April 23, 2023, which has now expired after six months on October 23, 2023, with China International Capital Corporation serving as the sole sponsor [1] - Hehui Optoelectronics is a leading manufacturer of AMOLED semiconductor display panels globally, focusing on the research and production of panels that provide exceptional color accuracy, superior visual experiences, and low power consumption [2] - According to a report by Frost & Sullivan, Hehui Optoelectronics ranked second in global sales volume of large and medium-sized AMOLED semiconductor display panels from 2022 to 2024, and it is the number one manufacturer in China [2]

Core Points - The company, Shanghai Huhui Optoelectronics Co., Ltd., is in the process of applying for the issuance of overseas listed foreign shares (H shares) and plans to list on the Hong Kong Stock Exchange [1][2] - The company has received a filing notice from the China Securities Regulatory Commission (CSRC) regarding its overseas issuance and listing [1] - The company intends to issue no more than 2,802,501,000 ordinary shares for overseas listing [1] Regulatory Compliance - The company must report any significant events to the CSRC through the filing management information system from the date of the filing notice until the completion of the overseas issuance and listing [2] - Within 15 working days after the completion of the overseas issuance and listing, the company is required to report the issuance and listing situation to the CSRC [2] - The company must comply with relevant laws, regulations, and rules during the overseas issuance and listing process [2] Future Actions - If the company does not complete the overseas issuance and listing within 12 months from the date of the filing notice, it must update its filing materials to continue the process [3] - The filing notice confirms the company's overseas issuance and listing filing information but does not imply any substantive judgment or guarantee regarding the investment value of the company's securities by the CSRC [3] - The company still needs to obtain approvals from the Hong Kong Securities and Futures Commission and the Hong Kong Stock Exchange, indicating that there are uncertainties regarding this matter [3]

Core Viewpoint - Shanghai Hehui Optoelectronics Co., Ltd. has announced its plan to issue up to 2.802501 billion overseas listed ordinary shares and list on the Hong Kong Stock Exchange, marking the company's formal initiation of international capital operations [2] Company Overview - Hehui Optoelectronics focuses on the research, production, and sales of high-resolution AMOLED semiconductor display panels, which are primarily used in consumer electronic products such as tablets, laptops, smartphones, and smart wearables [2] Market Position - According to the latest data from a third-party market research firm, Hehui Optoelectronics ranks second among global manufacturers of large-sized AMOLED semiconductor display panels from 2022 to 2024, while holding the top position in the Chinese market [2] Strategic Importance - The move to list in Hong Kong is viewed as a significant strategic initiative for Hehui Optoelectronics to deepen its global footprint. The company aims to leverage capital market financing to expand production capacity and enhance research and development capabilities, thereby solidifying its technological leadership in the AMOLED display sector [2]

Core Viewpoint - The company, Hehui Optoelectronics, is in the process of applying for the issuance of overseas listed foreign shares (H shares) and plans to list on the main board of the Hong Kong Stock Exchange [2] Summary by Sections - **Issuance Details** - The company intends to issue no more than 2,802,501,000 overseas listed ordinary shares for listing on the Hong Kong Stock Exchange [2] - **Regulatory Compliance** - The company must report any significant events to the China Securities Regulatory Commission (CSRC) through the management information system during the period from the issuance of the filing notice until the completion of the overseas issuance [2] - After the completion of the overseas issuance, the company is required to report the issuance and listing situation to the CSRC within 15 working days [2] - The company is obligated to strictly adhere to relevant laws, regulations, and rules during the overseas issuance process [2] - **Filing Validity** - If the company does not complete the overseas issuance within 12 months from the issuance of the filing notice, it must update the filing materials if it intends to continue the process [2]

Core Viewpoint - Hehui Optoelectronics is planning to issue up to 2,802,501,000 overseas listed shares and list on the Hong Kong Stock Exchange, aiming to enhance its international strategy and financing capabilities [2][5]. Company Overview - Hehui Optoelectronics focuses on the research, production, and sales of high-resolution AMOLED semiconductor display panels, which are primarily used in consumer electronics such as tablets, laptops, smartphones, and smart wearables. The company is also developing products for specialized display fields including automotive, aviation, desktop, smart home, industrial control, and medical displays [4]. Financial Performance - In the first half of this year, Hehui Optoelectronics achieved operating revenue of 2.67 billion yuan, a year-on-year increase of 11.51%. The company's losses significantly narrowed, improving by 439 million yuan compared to the previous year. The adjusted net profit loss also showed improvement, with EBITDA reaching 473 million yuan, marking a turnaround from losses. The net cash flow from operating activities was 233 million yuan, a substantial increase of 856% year-on-year [4]. Market Segmentation - In the tablet and laptop sectors, Hehui Optoelectronics saw both sales volume and average selling price increase year-on-year, leading to a substantial revenue growth of 83.18% in this area. In the smartphone and smart wearable sectors, the company's product gross margin continued to improve [4]. Listing Purpose - The application for listing on the Hong Kong Stock Exchange is intended to accelerate the company's internationalization strategy and overseas business layout, enhance its overseas financing capabilities, and expand financing channels. Through the H-share listing, Hehui Optoelectronics aims to increase the production capacity ratio of high-end AMOLED panels, enhance product added value, and strengthen overall competitiveness while building an international brand influence [5].