Core Viewpoint - The article highlights the growth and potential of Jichuang North, a leading player in the display chip industry, driven by trends such as high-resolution demands, the rise of automotive displays, and opportunities for domestic replacements in the market [2][4][5]. Company Overview - Jichuang North was founded in 2008 by Zhang Jinfang with initial funding of 4 billion RMB from his father, the actual controller of Shanxi Jiaochangping Energy Industry Group [5]. - The company specializes in display driver chips, covering technologies such as LCD, OLED, LED, AR/VR, and automotive displays, with a focus on panel driving (DDIC), power management, and SoC integration [5][6]. - Jichuang North holds a global market share of 18.8% in smartphone LCD driver chips, ranking first globally, and over 45% in LED driver chips [5][6]. Industry Trends - The display chip industry is experiencing a surge due to three main trends: 1. **Visual Revolution**: Enhanced algorithms and high refresh rates are improving low-quality visuals [3]. 2. **Automotive Display Competition**: The global automotive chip market is growing at an annual rate of 6.5%, driven by increasing screen quality and quantity in vehicles [4][12]. 3. **Domestic Replacement Opportunities**: The market has historically been dominated by foreign firms, but domestic players are emerging [4][15]. Market Dynamics - The demand for high resolution and refresh rates is increasing, with products exceeding 8K resolution and refresh rates potentially reaching 300Hz to 480Hz in the coming years [8][9]. - Low power consumption is becoming crucial, especially for wearable devices and smartphones, prompting significant R&D investments in low-power display chips [10][11]. - The automotive display market is projected to grow significantly, with the average number of displays per vehicle expected to rise from 2.5 to 3.5 by 2026 [12]. Competitive Landscape - The automotive display driver chip market presents substantial opportunities for new entrants, with the global automotive chip market valued at approximately 164.5 billion RMB in 2022, expected to reach 273.3 billion RMB by 2029 [13]. - Historically, the market has been led by Taiwanese firms, but domestic companies like Jichuang North are beginning to capture market share [15][16]. - Jichuang North has launched automotive-grade display chips, filling gaps in the domestic market and achieving mass production [16].

Core Viewpoint - Beijing Jichuang Beifang Technology Co., Ltd., a leading manufacturer of display driver chips, has officially initiated the listing counseling process for its initial public offering (IPO) on the Sci-Tech Innovation Board, with CITIC Securities as the counseling institution [1]. Group 1: Company Overview - Jichuang Beifang was established in 2008, with a registered capital of 431 million yuan. The legal representative is Zhang Jinfang. Investors include Xiaomi Yangtze River Industry Fund, Huawei Habo Technology, TCL Venture Capital, and Vivo [2]. - In December 2021, Jichuang Beifang secured over 6.5 billion yuan in Series E financing, leading to a valuation exceeding 30 billion yuan [2]. - The company specializes in the research, design, and sales of display chips, including panel display driver chips, LED display driver chips, power management chips, and control chips, covering mainstream display technologies such as LCD, LED, and OLED [3]. Group 2: Market Position and Products - According to TrendForce, Jichuang Beifang holds over 40% market share, ranking first in the LED display driver chip market for 2024. If successful in its IPO, it is expected to become the first stock on the Sci-Tech Innovation Board for all categories of display chips [3]. - The company has served major panel manufacturers such as BOE, TCL Huaxing, and Huike, as well as LED display manufacturers like Leyard, Zhouming Technology, and Absen. Its products are widely used by terminal brands including TCL, LG, Samsung, OPPO, Vivo, and Xiaomi [3]. Group 3: Future Developments - Jichuang Beifang is actively advancing the research and development of automotive display chips and SoC chips, while also expanding into MLED display and silicon-based OLED technologies to broaden its business scope and product line [3]. - In May, the company achieved a breakthrough in the automotive display chip sector with the mass production of the first domestically developed automotive-grade integrated local dimming bridge chip, ICNM7810B, for consumer-grade Mini LED display products [3].

Core Viewpoint - Jichuang Beifang is preparing for an initial public offering (IPO) on the Sci-Tech Innovation Board, having previously withdrawn its application in March 2023 due to regulatory concerns [2][5]. Company Overview - Jichuang Beifang is a leading international display chip design company focused on the research, design, and sales of display chips, providing solutions for various display technologies including LCD, LED, and OLED [2][4]. - The company has a diverse product range including panel display driver chips, power management chips, LED display driver chips, and control chips, which are widely used in smartphones, TVs, laptops, tablets, monitors, and various indoor and outdoor LED displays [2][4]. Market Position - According to Omdia's 2021 statistics, Jichuang Beifang ranks first among mainland Chinese manufacturers in the market share of smartphone LCD display driver chips and TDDI chips, and second in the market share of large-size LCD panel display driver chips [3]. - In the power management chip sector, it holds the top position among global manufacturers in mainland China, while in the LED display driver chip market, it has consistently ranked first globally from 2019 to 2021 [3]. Financial Performance - From 2019 to 2021, Jichuang Beifang's revenue increased from 144.74 million to 567.44 million, with net profits turning from a loss of 15.38 million in 2019 to a profit of 93.20 million in 2021 [3][4]. - The revenue composition for 2021 shows that panel display driver chips accounted for 51.41%, power management chips 13.39%, and LED display driver chips 29.68% of total revenue [4]. R&D and Innovation - The company invested 19.98%, 15.26%, and 15.73% of its revenue in R&D from 2019 to 2021, holding a total of 399 overseas patents and 189 domestic patents as of December 31, 2021 [4]. - Jichuang Beifang has developed various advanced display technologies, including the first domestically produced automotive-grade bridge chip with local dimming functionality, which supports FHD resolution and 144Hz refresh rate [8]. Client and Supplier Relationships - The company has established stable partnerships with major wafer manufacturers and testing companies, including World Advanced, Jinghe Integrated, and SMIC [9]. - Its major clients include well-known panel manufacturers and LED screen manufacturers such as BOE, Huaxing Optoelectronics, and international brands like TCL, LG, Samsung, OPPO, vivo, and Xiaomi [9].

Core Viewpoint - The company Jichuang Beifang has restarted its IPO process, aiming to list on the Sci-Tech Innovation Board after a previous unsuccessful attempt, highlighting the market's interest in this leading display chip manufacturer [1][9]. Company Overview - Jichuang Beifang, established on September 3, 2008, has a registered capital of 431.065156 million and is headquartered in Beijing [6]. - The major shareholder, Zhang Jinfang, controls 39.97% of the company's equity [6]. Product and Market Position - The company is a key player in the domestic display chip design sector, with a product matrix that includes display driver chips, power management chips, and LED display driver chips, covering technologies such as LCD, OLED, and AR/VR [3]. - In 2024, Jichuang Beifang held the leading market share among Chinese manufacturers for smartphone LCD display driver chips and TDDI chips, and has maintained the global market share leader position for LED display driver chips since 2019 [3]. Financial Performance - The company reported revenues of 144.74 million, 237.98 million, and 567.44 million from 2019 to 2021, with net profits of -15.38 million, 5.33 million, and 93.20 million respectively, achieving profitability in 2020 [8]. IPO History and Challenges - The company initially submitted its IPO application in June 2022, seeking to raise 6 billion for R&D and industrialization projects, but withdrew the application in March 2023 due to performance fluctuations and regulatory scrutiny [9]. - In July 2023, the company faced penalties from the CSRC for IPO violations related to revenue verification and inventory management [9]. Future Prospects - With the growing demand for display driver chips driven by new technologies like OLED and Mini/Micro LED, the company is focusing on technological upgrades and market expansion to solidify its competitive edge [10]. - Successful IPO funding could support advanced process R&D and aid in the domestic substitution process, although the company must navigate international technical barriers and competition from domestic peers [10].

Core Viewpoint - Beijing Jichuang Beifang Technology Co., Ltd. has submitted its initial public offering (IPO) application for listing on the Sci-Tech Innovation Board, with the filing date recorded as August 5, 2025, and the advisory institution being CITIC Securities [1][2]. Group 1: Company Background - Beijing Jichuang Beifang was established in 2008 and focuses on the research, design, and sales of display chips, providing solutions for various display panels and screens [4]. - The company's main products include panel display driver chips, power management chips, LED display driver chips, control chips, and others [4]. - Major clients include BOE Technology Group, Huaxing Optoelectronics, HKC, Leyard, Absen, and LG Group [5]. Group 2: Financial Performance - The company's revenue for the years 2019, 2020, and 2021 was 144.74 million, 237.98 million, and 567.44 million yuan, respectively [4]. - The net profit attributable to the parent company for the same years was -15.38 million, 5.33 million, and 93.20 million yuan, showing a significant recovery in profitability [4]. - The company's operating cash flow for 2021 was 637.32 million yuan, indicating a strong cash generation capability [5]. Group 3: Previous IPO Attempt - In June 2022, the company had previously applied for an IPO on the Sci-Tech Innovation Board but withdrew its application in March 2023, leading to the termination of its review by the Shanghai Stock Exchange [4][6]. - The previous IPO fundraising plan included projects such as the development and industrialization of display touch integrated chips and OLED display driver chips, with a total intended fundraising amount of 6.01 billion yuan [6][7]. Group 4: Advisory and Support Institutions - The advisory agreement between CITIC Securities and Jichuang Beifang was signed on July 31, 2025, with additional support from Beijing Guofeng Law Firm and Lixin Certified Public Accountants [2][3].