Core Viewpoint - The Chengdu High-tech Zone held an industrial investment promotion conference, resulting in the signing of multiple projects with a total investment of 1.68 billion yuan, focusing on advanced display technologies and robotics [1][2]. Group 1: Investment Projects - The conference featured the signing of several key projects, including the Yunying Valley Western Headquarters, Pixel Bloom Southwest Headquarters, and the Pudu Humanoid Robot Headquarters, among others, with a total investment amounting to 1.68 billion yuan [1]. - The Yunying Valley Western Headquarters project will focus on innovation and product development in display technology, particularly in AMOLED display driver chips and Micro OLED display driver backplane chips [2]. Group 2: Company Insights - Yunying Valley Technology Co., Ltd., established in 2012, specializes in AMOLED display driver chips, Micro OLED/Micro LED micro-display chips, and display technology IP licensing [2]. - The company has completed multiple rounds of financing, attracting investments from notable entities such as Xiaomi Technology, Qualcomm China, and BOE Technology Group [2]. - In June of this year, Yunying Valley Technology submitted an application for listing on the Hong Kong Stock Exchange, aiming to raise funds for the research and optimization of AMOLED TDDI chips and to expand application scenarios for Micro OLED and Micro LED display driver backplanes [2].

Core Insights - Yunyinggu Technology Co., Ltd. has officially submitted its application for an IPO on the Hong Kong Stock Exchange, marking the beginning of its listing journey [2] - The company is a leading global designer of AMOLED display driver chips, focusing on providing reliable and high-performance display solutions for consumer electronics brands [2] - According to Frost & Sullivan, Yunyinggu is the largest AMOLED display driver chip manufacturer in mainland China and the fifth largest globally by sales volume in 2024 [2] Company Overview - Yunyinggu operates under a Fabless business model, establishing a leading position through strategic partnerships with key industry players such as wafer foundries, OSAT companies, and display panel manufacturers [2] - The company has developed industry-leading integrated hardware and software display driver technologies, covering three critical technical areas: chip design, compensation algorithm development, and pixel compensation circuit layout [2] - Yunyinggu primarily provides AMOLED display driver chips for smartphones and Micro-OLED display backplanes/drivers for VR/AR devices [2] Financial Performance - Over the past decade, Yunyinggu has become a globally recognized technology brand in the display industry, emphasizing value creation for brand companies [2] - The company's revenue projections for 2022, 2023, and 2024 are 551 million, 720 million, and 891 million respectively, while net losses are projected at 124 million, 232 million, and 309 million [2] Market Position - As of December 31, 2024, Yunyinggu's AMOLED display driver chips will be mass-produced for several leading smartphone brands, which collectively account for over 25% of the global market share [3] - Yunyinggu is the first and only company in mainland China to achieve over 10 million cumulative sales of AMOLED display driver chips certified by brand companies [3] - The company's supply share of AMOLED display driver chips for all global smartphone brands increased from 1.2% in 2022 to 4% in 2024 [3]

Group 1 - The core viewpoint of the news is that Yunyinggu Technology Co., Ltd. has submitted its listing application to the Hong Kong Stock Exchange, highlighting its position as a leading AMOLED display driver chip design company with significant market share and growth potential [1][2]. - Yunyinggu Technology is the largest AMOLED display driver chip manufacturer in mainland China and the fifth largest globally, with a focus on providing high-performance display solutions for consumer electronics [1]. - The company operates on a Fabless business model, collaborating strategically with key industry partners to enhance user display experiences [1]. Group 2 - Financial data shows that Yunyinggu Technology's total revenue has steadily increased from RMB 551 million in 2022 to RMB 891 million in 2024, while net losses have also widened from RMB 124 million to RMB 309 million during the same period [2]. - In 2024, AMOLED display driver chips accounted for 91.6% of the company's revenue, while Micro-OLED display backplane/driver revenue decreased to 8.4% [2]. - The company faces significant risks due to high customer and supplier concentration, with the top five customers contributing 90.2% of total sales and the largest customer accounting for 54.1% [2]. Group 3 - Despite revenue growth, the company's gross margin has sharply declined from 31.9% in 2022 to only 2.5% in 2024, with the gross margin for AMOLED display driver chips dropping to 0.3% [3]. - The decline in gross margin is attributed to factors such as decreasing average selling prices, increased R&D investments, and intensified market competition [3]. - If the company fails to improve its profitability, it may impact its long-term development [3].

Core Viewpoint - Yunyinggu Technology Co., Ltd. is set to go public on the Hong Kong Stock Exchange, marking a significant step after previous attempts to list in A-shares and a failed acquisition by Huida Technology [2][5]. Company Overview - Established in 2012, Yunyinggu specializes in AMOLED display driver chip design, providing solutions for consumer electronics brands [2]. - As of 2024, Yunyinggu is the largest AMOLED display driver chip manufacturer in mainland China and the fifth largest globally, according to Frost & Sullivan [2][3]. Technology and Market Position - The company has developed a comprehensive self-research display driver technology, covering chip design, compensation algorithm development, and pixel compensation circuit layout [3]. - By the end of 2024, Yunyinggu's AMOLED display driver chips will have been shipped to multiple leading smartphone brands, accounting for over 25% of the global market share [3]. Sales Performance - From 2022 to 2024, Yunyinggu's sales volume of AMOLED display driver chips increased from approximately 14.1 million to 51.4 million units, with a compound annual growth rate (CAGR) of 71.3% [4]. - The company's market share in the global smartphone AMOLED display driver chip supply rose from 1.2% in 2022 to 4.0% in 2024 [3]. Financial Performance - Yunyinggu's revenue for the years 2022, 2023, and 2024 was approximately 551 million, 720 million, and 891 million yuan, respectively [5]. - The gross profit margins for the same period were 31.9%, 0.4%, and 2.5%, with adjusted net profit margins of 0.1%, -30.2%, and 25.1% [5]. IPO Fund Utilization - The funds raised from the IPO will primarily support the research and optimization of AMOLED TDDI chips, development of Micro-OLED and Micro-LED display driver backplanes, strategic investments or acquisitions, and general working capital [5].

Core Viewpoint - Yunyinggu Technology Co., Ltd. has submitted an application for listing on the Hong Kong Stock Exchange, positioning itself as a leading player in the AMOLED display driver chip market, with significant growth potential in the coming years [1][4]. Company Overview - Yunyinggu Technology is a global leader in the design of AMOLED display driver chips, focusing on providing reliable and high-performance display solutions for consumer electronics brands [4]. - The company operates on a Fabless business model, collaborating strategically with key industry partners such as wafer foundries and display panel manufacturers to enhance user display experiences [4]. Market Position - According to Frost & Sullivan, by the end of 2024, Yunyinggu Technology is projected to be the largest AMOLED display driver chip manufacturer in mainland China and the fifth largest globally [1][5]. - The company has achieved a supply share of 4.0% in the global AMOLED display driver chip market, up from 1.2% in 2022, with over 50 million units expected to be sold in 2024 [5]. Product Offerings - The company offers two main product categories: (i) AMOLED display driver chips for high-end smartphones and (ii) Micro-OLED display backplanes/drivers for AR/VR devices [5]. - Yunyinggu Technology is recognized as the first company in mainland China to master the advanced technical knowledge required for developing and designing these chips [5]. Financial Performance - The total revenue for Yunyinggu Technology was approximately RMB 551 million in 2022, RMB 720 million in 2023, and is projected to reach RMB 891 million in 2024 [6][7]. - The company reported net losses of approximately RMB 124 million, RMB 232 million, and RMB 309 million for the years 2022, 2023, and 2024, respectively [6][7].