HKC progresses with its IPO plans, reveals is financials for the first half of 2025

Shenzhen-based HKC is aiming to go public, and has started the IPO process at the Shenzhen Stock Exchange in June 2025, with plans to raise 8.5 billion Yuan (almost $1.2 billion USD). In October HKC's application got suspended a few days ago, as some of the financial documents it submitted had expired. HKC now officially submitted its updated prospectus, which hopefully will get the IPO process back on track.

In the new prospectus, HKC details that its revenues in the first half of 025 reached 19 billion Yuan ($2.6 billion) and its net profit was 2.1 billion yuan (around $297 million). The company aims to raise 8.5 billion yuan in the IPO, or $1.2 billion USD. These finds will be used to upgrade the company's OLED R&D center in Changsha ($350 million USD), and its Oxide R&D project. The funds will also be used towards its Mini-LED (and in the future MicroLED) direct view factory in Mianyang ($280 million). Total investments in these three projects will be around 9.5 billion Yuan ($1.35 billion USD).

A few years ago HKC made the decision to become an OLED display maker, and is progressing quickly with its plans. The company's strategy includes two paths. First is in-house R&D, developing next-generation maskless OLED production technologies, aimed to leap-frog over existing FMM methods. The second path is utilize acquisitions of existing production lines from failed OLED makers to kick start production.

In July 2025, HKC announced that it has produced its first AMOLED display sample - a smartphone type panel, produced on an advanced Oxide-TFT (IGZO) backplane. In November 2025, HKC announced that it has received its first OLED panel orders for these smartphone AMOLED panels, a major milestone for the company.