Yunying Valley is about to be listed in Hong Kong and will focus on the Micro LED and Micro OLED tracks.

On the morning of May 18, Yunyinggu Technology announced on the Hong Kong Stock Exchange that the company plans to sell 52,859,200 H shares globally, including 5,286,000 H shares in Hong Kong and 47,573,200 H shares internationally. The offer price is HK$20.81 per share. It is expected to be officially listed on the Hong Kong Stock Exchange on May 27, 2026.

Looking back on its listing process, Yunyinggu submitted its Hong Kong stock listing application for the second time in January this year, with CICC and CITIC Securities serving as joint sponsors; in March, the company obtained a filing notice for overseas issuance and listing from the China Securities Regulatory Commission; on May 10, the company officially passed the listing hearing of the Hong Kong Stock Exchange, and the pace of listing was further accelerated.

According to the prospectus, the funds raised from this IPO will be mainly used for the research and development, optimization and application scenario expansion of AMOLED TDDI chips. It will also be invested in the research and development of Micro OLED and Micro LED display driver backplane technology, and will be used for strategic investments, acquisitions and supplementary working capital to further improve the company's technology and industrial layout in the new display field.

Image source: Paixin.com genuine gallery

From the perspective of business structure, Yunyinggu focuses on the fields of display driver chips and micro-display technology. Its core business covers AMOLED display driver chips for mobile phones, Micro OLED and Micro LED micro-display chips for AR/VR, and display technology IP licensing.

Among them, in the field of Micro OLED display backplane/driver, Yunyinggu mainly provides related products for VR/AR equipment. According to the Frost & Sullivan Report, the company is one of the first independent display backplane/driver manufacturers to apply Micro OLED technology to consumer VR/AR devices. Calculated by sales volume in 2024, the company is also the world's largest independent Micro OLED display backplane/driver design company, with its product sales accounting for 40.7% of the overall market share.

While continuing to promote technological layout, Yunying Valley is also accelerating industrialization construction. In July 2025, the company's western headquarters project with a total investment of 250 million yuan was signed. The project will focus on the two core products of AMOLED display driver chips and Micro OLED display driver backplane chips, further lay out display touch integration technology and Micro LED display driver technology, expand terminal application scenarios, promote the large-scale commercialization of AMOLED display touch integration technology, and accelerate the commercialization process of Micro LED display technology.

At the capital level, since its establishment, Yunying Valley has completed more than ten rounds of financing. Investors include Huawei Hubble, Xiaomi Group, Qualcomm, BOE, Visionox and other industry chain companies, as well as investment institutions such as Sequoia Capital, Cornerstone Capital, Qiming Venture Partners, and CDB Technology.

From the perspective of operating performance, Yunyinggu’s revenue has continued to grow in recent years. Financial data shows that from 2023 to 2025, the company's revenue will be 720 million yuan, 891 million yuan and 1.106 billion yuan respectively. Although it has not yet achieved profitability, the scale of losses has gradually narrowed, and the losses will be reduced to 230 million yuan in 2025.