小米、华为联手投出一个芯片IPO，年销量超5000万颗，中国大陆第一

Core Viewpoint - Yunyinggu Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, aiming to leverage its position as a leading AMOLED display driver chip design company to attract investment and expand its market presence [1][4]. Company Overview - Yunyinggu is recognized as the largest AMOLED display driver chip manufacturer in mainland China and the fifth largest globally, according to a report by Frost & Sullivan, based on sales volume in 2024 [1][2]. - The company operates on a Fabless business model, collaborating strategically with key industry partners such as wafer foundries, OSAT companies, and display panel manufacturers to enhance user display experiences [1][2]. Product Offerings - The company provides two main product categories: AMOLED display driver chips for high-end smartphones and Micro-OLED display backplanes/drivers for AR/VR headsets [4]. - Yunyinggu has developed industry-leading integrated display driver technology, covering chip design, compensation algorithm development, and pixel compensation circuit layout [2][4]. Market Position and Performance - As of December 31, 2024, Yunyinggu's AMOLED display driver chips will have been shipped to multiple leading smartphone brands, covering over 10 product series, collectively accounting for more than 25% of the global market share [2]. - The company is the first in mainland China to achieve brand certification and has sold over 10 million AMOLED display driver chips, with a projected sales volume exceeding 50 million chips in 2024 [2][4]. Financial Performance - Yunyinggu's total revenue for the years 2022, 2023, and 2024 is approximately 551 million RMB, 720 million RMB, and 891 million RMB, respectively, with corresponding annual losses of approximately 124 million RMB, 232 million RMB, and 309 million RMB [4]. - The company has received investments from notable firms including Sequoia, Xiaomi Changjiang, Huawei Hubble, and Qualcomm [4]. IPO Fund Utilization - The funds raised from the IPO will be used to support the research and optimization of AMOLED TDDI chips, expand application scenarios, develop Micro-OLED and Micro-LED display driver backplanes, pursue strategic investments or acquisitions, and cover general operational expenses [4].