[News] HKC to Go Public at China’s SZSE Main Board Soon

On June 3, display panel maker HKC released its preliminary prospectus for an initial public offering (IPO) on Shenzhen Stock Exchange (SZSE) main board, officially launching its A-share listing process.

The company plans to issue an initial 729.78 million new shares, representing approximately 10% of its enlarged share capital before the exercise of any over-allotment option. The offering will consist entirely of newly issued shares, with no secondary share sale. HKC is scheduled to begin the preliminary price inquiry on June 9, while subscription for the new shares will open on June 12.

Through the IPO, HKC aims to raise CNY 8.5 billion. After deducting issuance expenses, the proceeds will be allocated to a new OLED R&D upgrade project in Changsha, an Oxide technology R&D and commercialization project in Changsha, a Mini LED smart manufacturing project in Mianyang, as well as working capital replenishment and bank loan repayment. Planned investments amount to CNY 2.5 billion, CNY 3 billion, CNY 2 billion, and CNY 1 billion, respectively.

HKC reported revenue of CNY 35.82 billion, CNY 40.28 billion, and CNY 40.90 billion in 2023, 2024, and 2025, respectively. Net profit during the same period rose from CNY 2.58 billion to CNY 3.32 billion and CNY 3.80 billion. Both revenue and profitability maintained an upward trajectory, reflecting the company’s solid operational performance and growth momentum.

For the first half of 2026, HKC expects revenue to reach CNY 20–22 billion, representing year-on-year growth of 5.28% to 15.81%. Net profit attributable to shareholders is forecast at CNY 1.85–2.05 billion, corresponding to a year-on-year decline of 5.17% to 14.42%.

HKC said going public will help further strengthen its competitive position in the semiconductor display industry and enhance its global brand presence. The company also plans to accelerate investment in emerging display technologies, including OLED, Oxide, and Mini LED, expand related production capacity, and improve its innovation capabilities.

(Photo credit: HKC)