Huike IPO meeting

On March 3, the results of the 9th review meeting of the Shenzhen Stock Exchange Listing Review Committee in 2026 were announced. Huike Co., Ltd.: meets the issuance conditions, listing conditions and information disclosure requirements.

With this listing, Huike plans to raise approximately 8.5 billion yuan. After deducting issuance expenses, it will be used for the Changsha new OLED R&D and upgrade project, Changsha Oxide R&D and industrialization project, Mianyang Mini LED smart manufacturing project, supplementing working capital and repaying bank loans. The planned amount of raised funds is 2.5 billion yuan, 3 billion yuan, 2 billion yuan, and 1 billion yuan respectively.

Among them, the Changsha new OLED R&D upgrade project mainly focuses on the development of OLED materials and devices, laying the foundation for the mass production of OLED products; the Mianyang Mini LED Phase I project has officially started in February 2025, and plans to build backlight module and direct display module production lines.

From the perspective of performance, from 2022 to June 30, 2025, Huike achieved operating income of 26.965 billion yuan, 35.824 billion yuan, 40.282 billion yuan and 18.997 billion yuan respectively; the net profits attributable to shareholders of the parent company during the same period were -1.421 billion yuan, 2.582 billion yuan, 3.320 billion yuan and 2.162 billion yuan respectively.

The latest data shows that for the whole year of 2025 and July to December 2025, Huike's operating income increased slightly year-on-year. The main reason is that IT panel sales revenue increased significantly, which offset the impact of the decline in TV panel sales revenue.

Looking forward to January to March 2026, Huike is expected to achieve operating income of 9.762 to 10.362 billion yuan, a year-on-year increase of 0.68% to 6.87%; the net profit attributable to shareholders of the parent company is expected to be 9.12 to 9 89 million yuan, a year-on-year decrease of 14.81% to 7.57%; the net profit after deducting non-recurring gains and losses is expected to be 696 to 761 million yuan, with a year-on-year change ranging from a decrease of 5.95% to an increase of 2.76%.