New stock news | Cloud Eagle Valley passes the hearing of the Hong Kong Stock Exchange, becoming the largest supplier in the market of AMOLED display driver chips for Chinese smartphones.

According to the disclosure by the Hong Kong Stock Exchange on May 10, Yunyinggu Technology Co., Ltd. (referred to as Yunyinggu) conducted a listing hearing on the main board of the Hong Kong Stock Exchange, with CICC and CITIC SEC as joint sponsors. The prospectus shows that according to Frost Sullivan's report, based on sales projections for 2024, Yunyinggu is the fifth largest supplier in the global smartphone AMOLED display driver chip market and the largest supplier in mainland China. The company mainly designs and sells brand AMOLED display driver chips to leading smartphone manufacturers. The company's downstream customers include display panel manufacturers and global and Chinese major smartphone brands targeting high-end and mass markets. According to Frost Sullivan's report, the company ranked third in sales in the mainland China smartphone AMOLED display driver chip market in 2024, with a market share of 12.4%, and is also the largest supplier in mainland China in this field. Additionally, the company is a major supplier in the Micro-OLED display backplane/driver field, with a market share of 40.7% in 2024, ranking second globally. The company is committed to providing reliable and high-performance display driver solutions to consumer electronics brand companies. The company adopts a Fabless business model, establishing its industry position through strategic partnerships with core industry partners such as wafer foundries, OSAT companies, and display panel manufacturers, ultimately enhancing end users' display experience. The company has mastered the full-stack display driver technology, covering key technology aspects such as display driver chip design, driver compensation algorithm development, and pixel compensation circuit layout. The company provides AMOLED display driver chips mainly for smartphones and Micro-OLED display backplane/drivers mainly for VR/AR devices. According to Frost Sullivan's report, as of December 31, 2024, the company's AMOLED display driver chips have been mass-produced and shipped to multiple leading smartphone brand manufacturers worldwide, applied in over 10 product series. These brand manufacturers collectively account for over a quarter of the global market share. According to Frost Sullivan's report, the company is the first in mainland China to receive brand company certification and the only one to accumulate over 10 million pieces in sales of AMOLED display driver chips to brand companies, with sales exceeding 50 million pieces in 2024. The company's supply share of AMOLED display driver chips to all global smartphone brands increased from 2.4% in 2022 to 5.7% in 2024. In terms of finances, the company's revenue was approximately 720 million yuan, 891 million yuan, and 1.106 billion yuan in the fiscal years 2023, 2024, and 2025 respectively; with losses of approximately 232 million yuan, 309 million yuan, and 230 million yuan within the same years.