On May 27, Viewtrix Technology (03310.HK) surged 23.4% in regular trading on its first day of listing, trading at 26.8 HKD/share with turnover reaching 133 million HKD, well above its IPO price of 20.81 HKD.

The strong debut follows a massively oversubscribed public offering that exceeded 3,000 times, reflecting intense retail interest in the AMOLED display driver chip maker. The company raised approximately 1.1 billion HKD through the IPO, with cornerstone investors committing around 389 million HKD, accounting for roughly 35% of the base offering. The IPO was jointly sponsored by CICC and CITIC Securities, with a greenshoe mechanism in place.

Viewtrix is positioned as the world's fifth-largest and China mainland's largest smartphone AMOLED display driver chip designer by revenue. Its Micro-OLED segment for AR/VR devices grew nearly threefold year-over-year to approximately 300 million RMB in revenue. However, the company reported cumulative losses of 7.7 billion RMB over three years and faces challenges including a core AMOLED chip gross margin of only 6.4% and customer concentration exceeding 90%.

Viewtrix Technology is a China-based company primarily engaged in the R&D, design, and sales of OLED display driver chips, including AMOLED display driver chips and Micro-OLED silicon-based display driver backplane chips.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)