Huike IPO registration takes effect

On March 13, the China Securities Regulatory Commission issued an announcement approving Huike Co., Ltd.’s initial public offering registration application, and the company’s IPO registration took effect.

The document shows that Huike's stock issuance should be implemented in strict accordance with the prospectus and issuance underwriting plan submitted to the Shenzhen Stock Exchange; the approval will be effective within 12 months from the date of consent to registration; from the date of consent to registration to the end of this stock issuance, if a major event occurs in the company, it should be reported to the Shenzhen Stock Exchange in a timely manner and handled in accordance with relevant regulations.

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.

According to data, Huike's main business is the research and development and manufacturing of core display devices such as semiconductor display panels and smart display terminals. At present, the company has 4 G8.6 high-generation lines with different technical characteristics and multiple intelligent display terminal production bases. It is also equipped with a display module production base and a display terminal accessories production factory.

From January to September 2025, the company's operating income was 29.238 billion yuan, a year-on-year decrease of 0.36%, which was basically stable. The main reason was 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%.