Hong Kong stock IPO/groundbreaking, two display equipment companies report new developments

Recently, two display and semiconductor equipment companies have reported new developments: direct-write lithography equipment manufacturer Xinqi Micro Equipment has submitted a listing application to the Hong Kong Stock Exchange, while inspection equipment company Zhongjia Microvision has launched the construction of an intelligent manufacturing base for semiconductor front-line inspection equipment in Chengdu.

Core Microelectronics submitted its application to the Hong Kong Stock Exchange

On March 15, Anhui Hefei direct-write lithography equipment company Core Microelectronics officially submitted its application to the Hong Kong Stock Exchange.

According to the data, Core Micro Devices is mainly engaged in the R&D and production of direct imaging equipment and direct writing lithography equipment with micro-nano direct writing lithography as the core technology. The company's semiconductor direct writing lithography equipment and automatic line system products are mainly used in the lithography process of IC mask manufacturing, IC carrier boards, advanced packaging and micro/mini LED and OLED display panel production.

From the perspective of financial performance, Xinqi Micro-Device's revenue in 2023, 2024, and 2025 will be 829 million yuan, 954 million yuan, and 1.408 billion yuan respectively; its gross profits will be 339 million yuan, 339 million yuan, and 550 million yuan respectively. 100 million yuan; gross profit margins were 40.9%, 35.5%, and 39.1% respectively; profits during the year were 179 million, 161 million, and 290 million yuan respectively, and profit margins during the year were 21.6%, 161 million, and 20.6% respectively.

From the perspective of business structure, the company's revenue is still dominated by equipment in the PCB field.

In 2025, the revenue of PCB direct imaging equipment and automatic line systems will reach 1.08 billion yuan, accounting for 76.7% of the company's total revenue, a year-on-year increase of 39.7%. At the same time, the semiconductor equipment business is growing more rapidly; the company's semiconductor direct-writing lithography equipment and automatic line systems will achieve revenue of 233 million yuan in 2025, a year-on-year increase of 112.5%, accounting for 16.6% of total revenue. In addition, equipment maintenance service revenue was 84 million yuan, accounting for 6.0%, maintaining steady growth overall.

Xinqi Micro-Decoration stated that the funds raised will be used to strengthen the company's research and development capabilities, expand the company's overall production capacity, make strategic investments or acquisitions, expand the company's global sales business and overseas sales and service network, as well as for working capital and other general corporate purposes.

Zhongjia Microvision Semiconductor Frontline Quality Inspection Equipment Intelligent Manufacturing Base was laid in Chengdu

On March 16, the groundbreaking ceremony of Chengdu Zhongjia Microvision Technology Co., Ltd. (hereinafter referred to as "Zhongjia Microvision") semiconductor frontline quality inspection equipment intelligent manufacturing base was held in Pidu High-tech Zone.

It is reported that the intelligent manufacturing base laid this time will become the core engine of Zhongjia Weishi’s internationalization strategy. Tang Yufeng, chairman of Zhongjia Weishi, said that after the base is completed, it will focus on the research and development and intelligent production of high-end equipment to prepare for the development of the global market.

Information shows that Zhongjia Microvision focuses on the research and development, production and sales of TFT-LCD, OLED, optical inspection machines (AOI), laser cutting machines (Laser cutting) and other equipment in the semiconductor industry. At present, the company has received OLED front-end batch orders from six panel manufacturers including BOE, TCL CSOT, Huike, Tianma, Visionox, and Hehui Optoelectronics, with cumulative sales exceeding 500 million yuan.

It is worth noting that Zhongjia Weishi has also accelerated its industrial layout in South China in recent years.

On June 19, 2025, Zhongjia Microvision subsidiary opened in Xinqiaodong Advanced Manufacturing Industrial Park, Baoan District. Tang Yufeng, chairman of Zhongjia Weishi, revealed that the company's Xinqiaodong base covers an area of about 3,960 square meters and will focus on the research and development of optical inspection (AOI) equipment for the semiconductor, display and new energy industries. It is expected to form an annual production capacity of hundreds of high-end inspection equipment to directly serve the semiconductor industry chain in South China.

The report pointed out that with the commissioning of the Shenzhen subsidiary of Zhongjia Microvision, its semiconductor display testing equipment will directly serve local leaders such as BOE and TCL. It is expected to contribute more than 1 billion yuan in output value to Baoan in the next three years, further strengthening the voice of "Made in Shenzhen" in the global semiconductor industry chain.