Yunyinggu Technology, a Shenzhen-based AMOLED display driver chip designer, has restarted its A-share IPO process.
China’s securities regulator website shows that the company completed tutoring registration with the Shenzhen bureau of the China Securities Regulatory Commission on Sept. 10. GF Securities is the tutoring institution.
Listed in Hong Kong in May
Yunyinggu was founded in May 2012 with registered capital of 436 million yuan. Its legal representative is founder Gu Jing. The company’s controlling shareholders are Shenzhen Yishi No.1 Enterprise Management Center (Limited Partnership), Shenzhen Yisheng No.1 Enterprise Management Center (Limited Partnership), and Shenzhen Yisheng No.2 Enterprise Management Center (Limited Partnership), which together hold 16.68%.
The company listed on the Hong Kong Stock Exchange on May 27 this year. As of the previous close, its total market capitalization stood at HK$10.5 billion.
According to its prospectus, Gu received his bachelor’s and master’s degrees from Tsinghua University and his doctorate from Harvard University in the United States. He serves as executive director, chairman, general manager and chief executive officer of Yunyinggu.
Backers include Xiaomi-related funds, Huawei, BOE and Qualcomm China
Yunyinggu was recognized as a specialized and sophisticated "Little Giant" enterprise in 2025. Its investors include Xiaomi Yangtze River and Tianjin Jinmi, both controlled by Lei Jun, Huawei-backed Hubble Technology, BOE Technology and Qualcomm China.
Revenue expanded, but losses continued
Financial data in the source show that Yunyinggu posted revenue of 551 million yuan, 720 million yuan, 891 million yuan and 1.106 billion yuan in 2022, 2023, 2024 and 2025, respectively. Net losses were 124 million yuan, 232 million yuan, 309 million yuan and 230 million yuan over those years, while R&D spending came in at 188 million yuan, 177 million yuan, 242 million yuan and 266 million yuan.
Its adjusted net losses for 2023, 2024 and 2025 were 146 million yuan, 224 million yuan and 217 million yuan.
According to its interim results announcement, Yunyinggu reported 318 million yuan in revenue for the first half of 2026. The source lists its net loss for the period as 1.51 yuan, and says the company has not yet achieved profitability.
Focus on AMOLED and Micro-OLED driver products
Yunyinggu has focused on the research, development and design of AMOLED display driver chips since 2017. In 2021, it began mass production and supplied AMOLED display driver chips to one of China’s largest AMOLED panel makers, becoming the first mainland China AMOLED display driver chip design company to supply mainstream consumer electronics brands.
The company mainly provides two product categories:
- AMOLED display driver chips, mainly used in smartphones;
- Micro-OLED display backplane/driver products, mainly used for AR/VR head-mounted devices.
Ranked fifth globally by 2024 shipment volume
According to Frost & Sullivan data cited in the source, Yunyinggu was the first company in mainland China to master the advanced technical know-how required to develop and design both AMOLED display driver chips and Micro-OLED display backplane/driver products. It was also described as the earliest independent Micro-OLED display backplane/driver maker to apply Micro-OLED technology to consumer-grade VR/AR devices, and the first company globally to provide Micro-OLED display backplane/driver products featuring ultra-high resolution and ultra-high display emission frequency.
Frost & Sullivan said that by 2024 shipment volume, Yunyinggu ranked as the world’s fifth-largest AMOLED display driver chip supplier and the largest in mainland China. By 2024 sales revenue, the company was the fifth-largest supplier in the global smartphone AMOLED display driver chip market, the third-largest independent supplier, and the largest mainland China supplier in that segment.
The source also says Yunyinggu is the first mainland China AMOLED display driver chip design company to pass brand customer certification, and the only one whose cumulative shipments to downstream brand customers have exceeded 10 million chips.
In the global Micro-OLED display backplane/driver market, Yunyinggu ranked second by 2024 shipment volume with a 40.7% market share.
In 2025, display giant BOE was Yunyinggu’s fourth-largest customer, accounting for 7.9% of its total sales.
Previous STAR Market filing was withdrawn
Yunyinggu started an A-share IPO process in January 2023 and submitted a listing application to Shanghai’s STAR Market in June that year, but later withdrew the application.
Now, a little more than three months after its Hong Kong listing, the company has moved again toward an A-share IPO. The original report said the plan is intended to broaden fundraising channels through both capital markets and continue supporting its technology moat and commercialization efforts in display driver products.
This article is based on a report from the WeChat account Xinzhidongxi, written by ZeR0 and edited by Moying.