Everdisplay Optronics (Shanghai) (SH:688538) Xin Lang Cai Jing·2025-10-24 05:42Core 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].