On March 14, the Shanghai Stock Exchange issued a decision to terminate the review of the initial public offering of shares and listing of Beijing Chitron North Technology Co., Ltd. (hereinafter referred to as "Chitron North") on the Science and Technology Innovation Board.
On March 7, 2023, the company and the sponsor Huatai United Securities Co., Ltd. submitted to the Shanghai Stock Exchange the "Application for Withdrawal of the Initial Public Offering of Stocks and Listing on the Science and Technology Innovation Board of Beijing Chitron North Technology Co., Ltd." and the "Application for Withdrawal of the Application Documents for the Initial Public Offering of Stocks and Listing on the Science and Technology Innovation Board of Beijing Chitron North Technology Co., Ltd." to the Shanghai Stock Exchange, applying to withdraw the application documents. According to relevant regulations, the Shanghai Stock Exchange decided to terminate the review of the company's initial public offering of shares and listing on the Science and Technology Innovation Board.
According to the prospectus, from 2019 to 2021, the book value of the company's inventory was 309 million yuan, 539 million yuan, and 1.775 billion yuan respectively. As the scale of operations continues to expand, the book value of the company's inventory shows a growing trend. Accordingly, its inventory will increase by 229% year-on-year in 2021.
Chitron North is a leading international display chip design company, focusing on the R&D, design and sales of display chips. It is committed to providing display chip solutions for various display panels/displays. It has a rich display chip product series, covering LCD, LED, OLED and other mainstream display technologies, and can meet the diverse display needs of customers.
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