惠科股份闯上市：负债高企仍大手笔分红，又计划募资补流及还贷

Core Viewpoint - Huike Co., Ltd. has submitted its prospectus for an IPO on the Shenzhen Stock Exchange, aiming to raise 8.5 billion yuan for various projects and operational needs [1][3]. Group 1: Company Overview - Huike Co., Ltd. was established in December 2001, originally as Huike Electronics (Shenzhen) Co., Ltd., with a registered capital of approximately 6.568 billion yuan [2]. - The company specializes in the semiconductor display sector, focusing on the R&D, manufacturing, and sales of display panels and smart display terminals [8]. - Huike ranks third globally in TV panel shipment area, fourth in display panel shipment area, and third in smartphone panel shipment area for the year 2024 [8]. Group 2: Financial Performance - The company's revenue for 2022, 2023, and 2024 is approximately 27.134 billion yuan, 35.797 billion yuan, and 40.310 billion yuan, respectively, with net profits of -2.097 billion yuan, 2.826 billion yuan, and 3.673 billion yuan [8][9]. - The company's asset-liability ratio as of the end of 2022, 2023, and 2024 is approximately 69.10%, 69.47%, and 68.78%, respectively [9][10]. Group 3: Fundraising and Investment Plans - The company plans to use the raised funds for several projects, including 2.5 billion yuan for the Changsha OLED R&D upgrade project, 3 billion yuan for the Changsha Oxide R&D and industrialization project, and 2 billion yuan for the Mianyang Mini-LED smart manufacturing project [2][3]. - A total of 10 billion yuan will be allocated to supplement working capital and repay bank loans [3][10]. Group 4: Shareholding Structure - The major shareholders include Shenzhen Huike Investment Holding Co., Ltd. (50.45%) and Shenzhen Jinfengyang Investment Co., Ltd. (18.25%) [4][6]. - Wang Zhiyong, the chairman and general manager, controls 52.31% of the voting rights through Huike Investment Holding and Shenzhen Huitong [6][8].