Core Viewpoint - Huike Co., Ltd. is set to undergo its initial public offering (IPO) review on March 3, 2026, by the Shenzhen Stock Exchange Listing Review Committee, aiming to strengthen its position in the semiconductor display sector and enhance its global brand influence [1][3]. Company Overview - Huike Co., Ltd. is a leading technology company in the semiconductor display field, focusing on the research, manufacturing, and sales of semiconductor display panels and smart display terminals [3]. - The company has over 20 years of experience in the display sector and is recognized as one of the top three large-size LCD panel manufacturers globally [4]. Market Position - In 2024, Huike ranked third in global TV panel shipment area, fourth in display monitor panel shipment area, and third in smartphone panel shipment area [4]. - The company holds a significant lead in the 85-inch and larger display panel market, being the top supplier in that category [4]. Financial Performance - The company's revenue for the reporting period was 26,964.51 million yuan, 35,824.49 million yuan, 40,281.83 million yuan, and 18,997.20 million yuan, with net profits of -2,092.54 million yuan, 2,845.08 million yuan, 3,650.45 million yuan, and 2,218.56 million yuan respectively [6]. - As of June 30, 2025, total assets amounted to 103,222.41 million yuan, with a debt-to-asset ratio of 66.87% [7]. Shareholding Structure - Huike Investment holds 298,316.05 million shares, accounting for 45.42% of the total share capital before the IPO, and will decrease to 40.88% post-issuance [4][5]. - The company plans to issue 72,978.35 million shares, which will constitute 10% of the total shares after the IPO [5]. Use of Proceeds - The funds raised from the IPO will be allocated to several projects, including: - 250 million yuan for the new OLED R&D upgrade project - 300 million yuan for the Oxide R&D and industrialization project - 200 million yuan for the Mini-LED smart manufacturing project - 100 million yuan for working capital and bank loan repayment [8]. Customer Sales - In the first half of 2025, the top five customers contributed 730.61 million yuan, representing 38.46% of total revenue, with TCL Group, Samsung Group, and Hisense Group being the largest clients [8][9].