狂奔的惠科：IPO加速，项目投资超400亿

Core Viewpoint - Huike has completed its IPO guidance, indicating its readiness to reinitiate the IPO process, which will provide broader financing channels and enhance its competitiveness in technology development and market expansion [7]. Group 1: Company Overview - Huike, established in December 2001, specializes in the semiconductor display sector, focusing on the research and manufacturing of semiconductor display panels and smart display terminals [1]. - The company has developed various technologies, including a-Si TFT-LCD, Oxide TFT, Oxide RGB OLED, Oxide LCD, and Mini LED [1]. - Huike operates four G8.6 generation panel production lines and seven display terminal production bases, along with facilities for display module production and accessories [1]. Group 2: Financial Performance - From 2019 to 2021, Huike's revenue increased from 10.577 billion to 35.709 billion, while its net profit shifted from a loss of 1.277 billion to a profit of 5.406 billion [1]. Group 3: Previous IPO Attempts - Huike previously submitted an IPO application in 2022, aiming to raise 9.5 billion for various projects, including OLED device upgrades and Mini LED production line expansions [2]. - The company withdrew its IPO application in August 2023 but resumed guidance for a new listing in February 2024 [3]. Group 4: Project Developments - Huike has been actively diversifying its business, investing over 40 billion in multiple projects since 2024, including OLED, MLED, and electronic paper [4]. - The company acquired assets from Royole for 504 million, marking a strategic entry into the OLED market [4]. - In the MLED sector, Huike has invested over 13 billion in projects in Changsha and Mianyang, focusing on Mini LED direct display and backlight modules [4]. - Huike is also investing 10 billion in a new M-LED chip base in Nanchong, with a planned monthly capacity of 1 million chips [5]. - In the electronic paper domain, Huike has committed 8 billion to a project in Chuzhou, focusing on various electronic paper products [5]. Group 5: Downstream Developments - Huike is advancing projects in Zhengzhou and Dongguan, with the Zhengzhou base expected to generate an annual output value of 8 billion upon reaching full capacity [6]. - The Dongguan project, with an investment of 760 million, will produce various display products and provide related services [6].