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].