ShanghaiMay 27, 2026 /PRNewswire/ — On May 27, 2026, Beijing time, Yungyinggu Technology, a portfolio company of Qiming Venture Partners and a leading Chinese display chip design enterprise, successfully listed on the Hong Kong Stock Exchange, marking Qiming Venture Partners’ sixth IPO of the year. Yungyinggu Technology (03310.HK) had an issue price of HKD 20.81 per share, with an opening price of HKD 25.48 per share, giving it a market capitalization of HKD 10.9 billion.
As early as 2019, Qiming Venture Partners led Yungyinggu Technology’s Series C financing round and continued to support the company’s development in subsequent Series D financing rounds.
Founded in 2012, Yungyinggu Technology is committed to providing reliable and high-performance display driver solutions for consumer electronics brands. Operating under a Fabless business model, the company offers AMOLED display driver chips primarily used in smartphones and Micro-OLED display backplanes/drivers mainly for VR/AR devices. Through years of technical accumulation and product iteration, Yungyinggu Technology has secured a core position in the display driver chip industry. It is not only the first AMOLED display driver chip company in mainland China to receive certification from brand customers but also the only mainland manufacturer to have shipped over 10 million units cumulatively to brand companies.
Yungyinggu Technology’s AMOLED display driver chips have been mass-produced and shipped to multiple leading global smartphone brands, applied across over 10 product series. The combined market share of its partner brands accounts for more than a quarter of the global smartphone market. According to a Frost & Sullivan report, based on 2024 sales volume, Yungyinggu Technology is the fifth-largest supplier in the global smartphone AMOLED display driver chip market and the largest supplier in mainland China. Its Micro-OLED display backplane/driver sales rank second globally, and it is the largest independent supplier headquartered in China in this field.
Zhou Zhifeng, Managing Partner of Qiming Venture Partners, stated: “In 2019, China’s semiconductor industry was entering a period of rapid growth, while the Chinese mobile phone industry was ascending to a global leadership position. Tracing upstream from downstream terminal demand, the display chip sector demonstrated strong industrial logic and growth potential. At that time, Yungyinggu Technology’s focus on its core display driver chip business aligned perfectly with our investment logic, making it a high-quality niche sector we were very optimistic about. Over the seven years of partnership with Yungyinggu Technology, Qiming Venture Partners has accompanied the company with a long-termist approach, jointly supporting its journey to IPO. Today, Qiming Venture Partners’ investment strategy is increasingly focused, adhering to deep cultivation within our established capability circle and conducting investment layouts pragmatically. In the technology investment track, Qiming Venture Partners has long been committed to two core investment themes: first, artificial intelligence, as a general-purpose technology, will inevitably reshape all industries; second, China’s top-tier local product design, engineering R&D, and advanced manufacturing capabilities possess globally competitive strengths. Based on these two main lines, we will focus on two major directions: AI technology and industrial applications, and hard technology.”
About Qiming Venture Partners
Founded in 2006, Qiming Venture Partners currently manages 11 USD funds and 7 RMB funds, with total managed assets reaching USD 9.5 billion. Since its inception, the firm has focused on investing in early-stage and growth-stage outstanding companies in sectors such as Technology and Healthcare.
To date, Qiming Venture Partners has invested in over 580 rapidly growing innovative companies, of which more than 210 have gone public on exchanges such as the NYSE, NASDAQ, Hong Kong Stock Exchange, Shanghai Stock Exchange, and Shenzhen Stock Exchange, or exited through mergers and acquisitions. Over 80 companies have become recognized unicorns or super unicorns in their industries.
Many of Qiming Venture Partners’ portfolio companies have grown into the most influential players in their respective fields, including Xiaomi Group, Meituan, Bilibili, Zhihu, Roborock, Hesai Technology, UBTECH, WeRide, HyperStrong, Insta360, Unisound, Biren Technology, Zhipu AI, Gan & Lee Pharmaceuticals, Tigermed, Zai Lab, CanSino Biologics, Schrödinger, Shenzhen Mindray Bio-Medical Electronics, Sanyou Medical, Amoy Diagnostics, Sinocelltech, Insilico Medicine, Haobo Pharmaceuticals, Yuanxin Technology, Yilian Biologics, Lixin Pharmaceuticals, and StepFun, among others.