Yunyinggu passed the Hong Kong stock listing hearing to accelerate the development of MicroLED/OLED driver and other businesses

On May 10, Hong Kong Stock Exchange documents showed that Yunyinggu Technology Co., Ltd. updated the post-hearing information set, representing the Yunyinggu Hong Kong Stock Exchange IPO to pass the hearing.

It is reported that in January this year, Yunying Valley applied for listing on the Hong Kong Stock Exchange for the second time, with CICC and CITIC Securities as its joint sponsors. In March, Yunyinggu’s listing application on the Hong Kong Stock Exchange received a filing notice.

For this listing, it is planned to issue no more than 76,086,600 overseas listed ordinary shares and list them on the Hong Kong Stock Exchange. The company's 56 shareholders plan to convert a total of 374,919,750 domestic unlisted shares held into overseas listed shares and list them on the Hong Kong Stock Exchange.

The funds raised from Yunyinggu's Hong Kong IPO are planned to be used to support the research and development, optimization and expansion of AMOLED TDDI chips, the research and development and optimization of Micro OLED and Micro LED display driver backplanes, strategic investments or acquisitions, as well as working capital and other general corporate purposes.

Yunyinggu’s business mainly focuses on the development of AMOLED display driver chips for mobile phones, Micro OLED/Micro LED micro display chips for AR/VR, and display technology IP licensing business. The company has mastered the full-stack display driver technology integrating software and hardware, covering the three key technical aspects of display driver chip design, driver compensation algorithm development, and pixel compensation circuit layout.

Since its establishment, Yunying Valley has completed more than ten rounds of financing. The investors behind it include Huawei Hubble, Xiaomi Group, Qualcomm, BOE, Visionox and other well-known companies in the technology and display fields. At the same time, the company has also attracted support from Sequoia Capital, Cornerstone Capital, Qiming Venture Partners, CDB Science and Technology and other institutions.

In terms of finance, in 2023, 2024 and 2025, Yunyinggu's revenue will be approximately 720 million yuan, 891 million yuan, and 1.106 billion yuan respectively; its losses during the year will be approximately 232 million yuan, 309 million yuan, and 230 million yuan respectively.