On May 27, Yunyingu Technology officially debuted on the Main Board of the Hong Kong Stock Exchange under the stock code 03310.HK, making it the first display driver IC design firm to be listed on the Hong Kong market.
On its trading debut, the stock opened more than 22% higher against the offering price of HK$20.81. It surged to an intraday peak of HK$38.6, representing a gain of over 80%, reflecting strong market enthusiasm.
The company globally offered approximately 52.86 million H-shares, raising net proceeds of around HK$1.019 billion. Its public offering in Hong Kong was oversubscribed more than 3,550 times, while the international offering recorded an oversubscription ratio of over 7 times, a clear sign of investors’ confidence in its growth prospects.
Yunyingu initially planned a listing on the Shanghai STAR Market back in 2023. After signing listing tutoring agreements, it submitted the application documents in June the same year, but voluntarily withdrew the application three months later. At the end of 2024, Goodix Technology, a leading touch IC supplier, sought to fully acquire Yunyingu and integrate it into its A-share listed platform. However, the deal was terminated in March 2025 as the two parties failed to reach agreement on core terms including the transaction consideration.
Following the setbacks in its previous capital moves, Yunyingu filed its first prospectus with the Hong Kong Stock Exchange in June 2025. After the application expired, it resubmitted the documents in January 2026. The company obtained overseas listing filing approval from the China Securities Regulatory Commission in March this year, passed the hearing by the Hong Kong Stock Exchange in early May, and completed its official listing on May 27.
As a fabless display driver IC design company, Yunyingu is a renowned global supplier of AMOLED display driver ICs for smartphones. It also develops display backplanes and driver chips for Micro OLED and Micro LED tailored for AR/VR devices.
From 2022 to 2025, the company posted annual revenue of RMB 551 million, RMB 720 million, RMB 891 million and RMB 1.106 billion respectively, registering a compound annual growth rate exceeding 25% over the four-year period.
In 2025, revenue from its AMOLED display driver business reached RMB 802 million, a year-on-year increase of 72.6%. Revenue generated by Micro OLED display backplanes and driver chips stood at RMB 296 million, up 26.7% year on year.
The company has laid out clear plans for the use of the listing proceeds. 47% of the funds will be allocated to the R&D and optimization of AMOLED TDDI chips to enhance chip integration and expand application scenarios. 33% will be invested in the research and development of Micro OLED and Micro LED display backplanes and driver solutions. The remaining 20% will be used for strategic investments, mergers and acquisitions, as well as general working capital supplementation.
About the Author
