Core Viewpoint - Yunyinggu Technology Co., Ltd. has re-submitted its listing application to the Hong Kong Stock Exchange after its previous application expired, with a reported net loss of 195 million yuan for the first ten months of 2025 [1] Group 1: Company Overview - Yunyinggu, established in 2012 and headquartered in Shenzhen, focuses on the research and development of organic light-emitting diode (OLED) display driver chips, with products including AMOLED and Micro OLED chips for smartphones and smart head-mounted devices [2] - The company previously attempted to list on the STAR Market but withdrew its application in March 2023, and a planned acquisition by Huida Technology was terminated in March 2025 due to disagreements on transaction terms [2] Group 2: Customer Concentration - The top five customers accounted for significant revenue proportions, with sales figures of 439 million yuan, 655 million yuan, 804 million yuan, and 816 million yuan from 2022 to the first ten months of 2025, representing 79.6%, 91.0%, 90.2%, and 91.0% of total sales respectively [3] - The largest customer contributed sales of 150 million yuan, 348 million yuan, 483 million yuan, and 359 million yuan during the same period, making up 27.2%, 48.2%, 54.1%, and 40.0% of total sales [3] Group 3: Financial Performance - Yunyinggu has experienced continuous operating losses, with revenues of 551 million yuan, 720 million yuan, 891 million yuan, and 896 million yuan from 2022 to the first ten months of 2025, alongside net losses of 124 million yuan, 232 million yuan, 309 million yuan, and 195 million yuan [4] - The company attributes its losses to significant investments in the AMOLED driver chip business since 2018, which is still in the growth phase, and a competitive pricing strategy that has reduced gross margins [4] Group 4: Future Plans and R&D Investment - Yunyinggu plans to increase R&D investments, having spent 188 million yuan, 177 million yuan, 242 million yuan, and 225 million yuan on R&D from 2022 to the first ten months of 2025, representing 34.1%, 24.6%, 27.2%, and 25.3% of revenue respectively [5] - The funds raised from the IPO will primarily support the development of AMOLED touch and display driver integration chips, as well as Micro-OLED and Micro-LED driver backplane technologies, with some allocated for potential strategic investments or acquisitions [5]

等待IPO开闸？ 作者 I 吴琼 报道 I 投资界PEdaily 一笔并购交易意外告吹——近日上市公司汇顶科技宣布，正式终止对云英谷科技股份有限 公司（简称"云英谷"）10 0%股份的收购计划。 事情还要从三个月前说起：彼时为了拓展商业版图，汇顶科技宣布拟收购显示芯片设计公 司云英谷，然而历经3个多月的筹划后，双方却选择放弃这笔交易，原因并不复杂："未 能就本次交易对价等商业条款最终达成一致意见"，价格没谈拢。 这是当下退出困境一缕真实景象——有人寻求并购落袋为安，有人继续等待IPO……无论 如何，退出为王。 并购终止 创始人卖不掉公司 云英谷背后，是一个海归博士创业故事。 时间回到2 0 1 2年，顾晶已从哈佛大学博士毕业，看到中国半导体行业市场机会，便回国 创业。于是，云英谷应运而生，专注半导体显示芯片设计行业。 成立仅一年，云英谷便推出首颗图像算法IC，2 01 5年开始向客户提供图像算法IP。20 16 年其显示IP被夏普应用于多款旗舰手机的显示屏幕中，部分产品的分辨率达到4K。此后 公司进展迅速，至今已推出主要产品包括AMOLED显示驱动芯片及Mi c r o OLED硅基显 示驱动背板芯片，分别应 ...

文/梧桐小新 历经3个多月的筹划后，深圳市汇顶科技股份有限公司（汇顶科技，603160）于3月3日晚发布公告，正式终止对云英谷 科技股份有限公司100%股份的收购计划。 2024年11月，汇顶科技首次对外披露，公司正筹划以发行股份结合支付现金的方式购买云英谷的控制权，同时拟发行股 份募集配套资金，意图在半导体领域实现业务拓展与布局。半个多月后，汇顶科技公布了详细的交易预案，明确表示拟 通过发行股份及支付现金的方式购买标的公司100%股份，引发市场高度关注。然而，到了2025年3月3日，公司宣布终 止收购， 终止原因为：交易双方未能就本次交易对价等商业条款最终达成一致意见。 云英谷 2023年、2024年1-9月净利 润分别为-2.58亿元、-1.62亿元。 | 交易形式 | 发行股份及支付现金购买资产 | | | --- | --- | --- | | 交易方案 | 上市公司拟通过发行股份及支付现金的方式购买标的公司 100%股份,同时 | | | 简介 | 上市公司拟向不超过 35 名特定投资者发行股份募集配套资金 | | | 交易价格 | 截至本预案签署日,标的资产的审计、评估工作尚未完成,本次交易的具体 ...