This display chip company has entered the sprint stage of listing.

Recently, Yunyinggu passed the listing hearing on the main board of the Hong Kong Stock Exchange and updated the post-hearing information set simultaneously. CICC and CITIC Securities are joint sponsors.

According to experts, AR understands that Yunying Valley submitted its prospectus for the second time on January 19, 2026, and received approval for overseas listing filing from the China Securities Regulatory Commission in March. Now it has successfully passed the hearing, and the listing process has been accelerated.

According to the document, Yunyinggu Technology adopts the Fabless business model and focuses on two core businesses: AMOLED display driver chips for smartphones and Micro-OLED display backplanes and driver chips for VR/AR devices. Its technical strength and market share are among the best in the industry.

Mobile phone AMOLED driver chips: With sales exceeding 50 million units in 2024, it is the fifth largest supplier in the world and the largest supplier in mainland China. With a domestic market share of 12.4%, it is the absolute leader in this field locally.

Micro-OLED backplane: The global market share will reach 40.7% in 2024, ranking second in the world. It is deeply bound to VR/AR head customers, benefiting from the expansion of the Metaverse industry, and becoming a core growth engine.

This IPO fundraising will focus on three major areas: AMOLED TDDI chip research and development and scenario expansion, Micro OLED/Micro LED display driver backplane technology optimization, and strategic acquisitions to supplement technology and production capacity. The remaining funds will be used to supplement working capital, helping the company consolidate its leading position in display driver chips and seize the commanding heights of next-generation display technology.

In July 2025, the western headquarters project with a total investment of 250 million yuan in Yunying Valley was signed. The project is based on the two core products of AMOLED display driver chip and Micro OLED display driver backplane chip, further laying out display touch integration technology and Micro LED display driver technology, broadening the breadth of product terminal applications, building a multi-dimensional product matrix, and promoting the large-scale commercial use of display touch integration technology in AMOLED display panels and the commercial application of Micro LED display technology.

According to financial data in the prospectus, Yunyinggu's revenue has maintained rapid growth, with revenue from 2023 to 2025 of 720 million yuan, 891 million yuan, and 1.106 billion yuan respectively; although it has not yet made a profit, the loss will narrow to 230 million yuan in 2025, and the commercialization process continues to advance.