云英谷上市，更新

Core Viewpoint - Yunyinggu Technology Co., Ltd. is advancing its IPO process on the Hong Kong Stock Exchange, focusing on display driver chip design for smart terminals, and is positioned as a leading supplier in the AMOLED and Micro-OLED markets [1][2]. Group 1: Market Position and Growth - As of 2024, Yunyinggu ranks as the fifth largest supplier of AMOLED display driver chips globally and the largest in mainland China, with a market share of 40.7% in the Micro-OLED display backplane/driver market, making it the largest independent supplier based in China [1]. - From 2022 to 2024, the sales volume of Yunyinggu's AMOLED display driver chips increased from 14.1 million units to 51.4 million units, achieving a threefold growth in three years, while its market share in the global smartphone AMOLED display driver chip market rose from 2.4% to 5.7% [2]. - The company's revenue grew from 551 million yuan to 891 million yuan during the same period, reflecting a significant scale effect [2]. Group 2: Product Development and Innovation - Yunyinggu has invested 832 million yuan in R&D from 2022 to October 2025, accounting for 27.2% of total revenue during that period, with a compound annual growth rate of 12.4% in R&D expenses [3]. - The company has developed nearly 20 product series focused on AMOLED display driver chips and Micro-OLED display backplane drivers, supporting various resolutions and packaging methods, and is capable of customized adjustments for specific screen requirements [4]. - Yunyinggu is the first in mainland China to develop RAM-less AMOLED display driver chips, significantly reducing chip costs while maintaining display quality, thus enhancing its competitive advantage [4]. Group 3: Future Plans and Funding - The funds raised from the IPO will primarily support the R&D and optimization of AMOLED TDDI chips and expand their application scenarios, as well as support the development of Micro-OLED and Micro-LED display drivers [5].