According to a disclosure by the Hong Kong Exchanges and Clearing Limited on January 19, Viewtrix Technology Co., Ltd. has submitted a listing application for the main board, with China International Capital Corporation (CICC) and CITIC Securities acting as its joint sponsors. The company had previously filed an application for listing on June 26, 2025.

The prospectus reveals that, according to a report by Frost & Sullivan, Viewtrix Technology ranked as the world's fifth-largest supplier and the largest supplier in Mainland China in the smartphone AMOLED display driver chip market by sales volume in 2024. The company is primarily engaged in designing and selling branded AMOLED display driver chips to leading smartphone manufacturers.

According to the Frost & Sullivan report, Viewtrix Technology held the third position by sales volume in the Mainland China smartphone AMOLED display driver chip market in 2024, with a market share of 12.4%, while also being the largest supplier in this segment within Mainland China. Furthermore, Viewtrix Technology is a major supplier in the Micro-OLED display backplane/driver field, holding a 40.7% market share in 2024 and ranking second globally.

Viewtrix Technology operates on a Fabless business model. Through strategic collaborations with core industry partners such as wafer foundries, OSAT companies, and display panel manufacturers, it has established its industry position and ultimately enhances the display experience for end-users. The company has mastered full-stack display driver technology integrating both hardware and software, covering three key technical areas: display driver chip design, drive compensation algorithm development, and pixel compensation circuit layout. Viewtrix Technology provides AMOLED display driver chips primarily used in smartphones and Micro-OLED display backplanes/drivers mainly used in VR/AR devices.

According to the Frost & Sullivan report, as of December 31, 2024, Viewtrix Technology's AMOLED display driver chips had been mass-produced and shipped to multiple leading global smartphone brand manufacturers, used in over 10 product series. Collectively, these brand manufacturers account for more than a quarter of the global market share.

According to the Frost & Sullivan report, Viewtrix Technology is the first company in Mainland China to pass brand company certification for AMOLED display driver chips and the only one to have achieved cumulative sales of over ten million units to brand companies. Additionally, the company's sales volume exceeded 50 million units in 2024. The company plays a significant role in the supply chains of brand companies and has achieved a high degree of loyalty from its downstream customers. Viewtrix Technology's supply share of AMOLED display driver chips for all global smartphone brands increased from 2.4% in 2022 to 5.7% in 2024.

For the ten months ended October 31 in 2022, 2023, 2024, and 2025, the company's total revenue was approximately RMB 551 million, RMB 720 million, RMB 891 million, and RMB 896 million, respectively.

For the same periods, the company's annual/period losses were approximately RMB 124 million, RMB 232 million, RMB 309 million, and RMB 195 million, respectively.

For the same periods, the company's gross profit margins were 31.9%, 0.4%, 2.5%, and 14.0%, respectively.

The industry is shifting towards advanced display technologies like AMOLED, combined with the increasing integration of circuit solutions, leading to a decline in demand for LCD display driver chips. By product segment, LCD display driver chips remained the dominant type in the global market in 2024, with sales of approximately 6.7779 billion units, accounting for 82.0% of total display driver chip sales. As the penetration rate of AMOLED in downstream applications gradually increases, AMOLED display driver chips are expected to be the primary growth driver in the coming years, with their global market share projected to expand from 15.6% in 2024 to 23.6% in 2029.

In recent years, global panel manufacturing capacity has increasingly shifted to Mainland China, which has gradually become the global manufacturing center for display panels. Mainland China's share of global display panel capacity grew from 50.0% in 2020 to 70.0% in 2024 and is expected to reach 80.0% by 2029. As this industrial transfer continues, the growth rate of Mainland China's display driver chip market has significantly outpaced the global market. Sales volume of display driver chips in Mainland China increased from approximately 3,750.1 million units in 2020 to 4,456.8 million units in 2024, representing a compound annual growth rate of 4.4%. Mainland China's share of the global market grew from 45.3% in 2020 to 53.9% in 2024. It is forecasted that with the further acceleration of supply chain localization, the Mainland China display driver chip market will continue to expand, reaching approximately 5,361.7 million units by 2029, with its projected global market share being 60.0%.

By product type, the market structure in Mainland China remains largely consistent with the global market, with LCD display driver chips still constituting the majority of sales. As AMOLED penetration in downstream applications gradually increases, AMOLED display driver chips are expected to become the main growth driver, with their market share projected to grow from 10.7% in 2024 to 23.7% in 2029.

The board of directors will consist of seven directors, including two executive directors, two non-executive directors, and three independent non-executive directors.

As of the latest practicable date, Dr. Gu Jing, as a general partner, held a 1.00% interest in Shenzhen Yishi and a 6.29% interest in Yisheng Erhao as a general partner. As of the latest practicable date, Ningbo Yuhang was 96.67% owned by its limited partner Ms. Jia Kun and 3.33% owned by its general partner Ms. Jia Jing. Ms. Jia Kun is the sister of Ms. Jia Jing.

Joint Sponsors: China International Capital Corporation Hong Kong Securities Limited, CITIC Securities (Hong Kong) Limited. Company Legal Advisors: Freshfields Bruckhaus Deringer, Fangda Partners. Joint Sponsor Legal Advisors: Clifford Chance, Han Kun Law Offices. Auditor and Reporting Accountant: Ernst & Young. Industry Consultant: Frost & Sullivan (Beijing) Consulting Co., Ltd. Shanghai Branch. Compliance Advisor: Capvision Capital Limited.