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  来源:瑞恩资本RyanbenCapital

  2025年4月23日,上海和辉光电股份有限公司EverdisplayOptronics(Shanghai)Co.,Ltd.(下称"和辉光电”)在港交所递交招股书,拟在香港主板上市。

  和辉光电(688538.SH),于2021年5月28日在A股上市,截至2025年4月23日收市,总市值约人民币292亿元。

  和辉光电招股书链接: 

  https://www1.hkexnews.hk/app/sehk/2025/107308/documents/sehk25042302573_c.pdf

  主要业务

  和辉光电,成立于2012年,作为全球领先的AMOLED半导体显示面板制造商,致力于研发及制造能呈现超凡真实色彩、卓越视觉体验和低功耗的高端产品。

  根据灼识咨询:

按2022年到2024年的累计销售量计,和辉光电位居全球中大尺寸AMOLED半导体显示面板制造商第二名,中国第一名;

于2022年到2024年按年度销售量计,和辉光电在平板/笔记本计算机领域连续3年稳居全球前三,中国第一,并于同期在所有中国制造商中的市场份额达到73.3%;

在车载显示领域,以2022年到2024年累计销售量计,和辉光电位居全球第四,中国第二。

  和辉光电的AMOLED半导体显示面板已服务荣耀及传音等领先的消费电子品牌以及中国五大车企中的两家。此外,公司产品已经被一家总部位于欧洲的世界领先的飞机制造商采纳和使用。

  和辉光电打造了覆盖平板/笔记本计算机、智能手机、智能穿戴和车载显示的多元化产品矩阵,并积极拓展航空显示等新兴应用领域。目前,公司的第4.5 代AMOLED生产线主要专注于智能穿戴及智能手机领域,第6代AMOLED生产线则重点布局平板/笔记本计算机、车载显示与智能手机领域。

  和辉光电同时具备刚性、柔性及Hybrid 显示面板的生产能力,可在同一生产在线生产该等不同的产品。公司现有的第4.5代及第6代AMOLED生产线均兼有生产刚性、柔性、Hybrid产品的产能和技术能力。

  和辉光电的收入主要来自销售AMOLED半导体显示产品,另外一小部分收入来自包括提供技术服务等其他业务板块。

  股东架构

  招股书显示,和辉光电在香港上市前的股东架构中,

  上海国资委全资拥有的上海联合,持股约58.35%。

  集成电路基金公司、上海科创,分别持股11.11%、0.48%;

  上海金联,持股2.99%。

  管理层

  和辉光电董事会由10名董事组成,包括:

2名执行董事:傅文彪先生(董事长)、刘惠然博士(总经理);

4名非执行董事:陈斐利博士(上海联和首席技术官)、李江先生(集成电路基金管理高级投资总监、董事)、孙莉军女士(上海湾区高新区管委会副主任、上海新金山工投董事长等)、芮大勇先生(公司党委办公室主任);

4名独立非执行董事:董叶顺先生(上海火山石投资董事兼联合创始人)、邱慈云博士(沪硅产业(688126.SH)董事兼总裁)、俞纪明先生(曾任上海科创财务总监)、李浩民先生(曾任职于竞天公诚、MayerBrown、夏礼文、方达等律所)。

  除执行董事外,高管包括陈志宏博士(副总经理)、梁晓先生(副总经理)、李凤玲女士(总会计师兼董事会秘书、联席公司秘书)、张斌先生(副总经理)。

  监事会7名:应晓明先生、杨铭博士、戚奕斐女士、章霞女士、王正妍女士、李翔先生、孟杰先生。

  公司业绩

  招股书显示,在过去的2022年、2023年、2024年,和辉光电的营业收入分别人民币41.91亿、30.38亿和49.58亿元,相应的净亏损分别为人民币16.02亿、32.44亿和25.18亿元。

  中介团队

  和辉光电是次IPO的中介团队主要有:

  中金公司为其独家保荐人;

  安永为其审计师;

  中伦为其公司中国律师;

  美迈斯为其公司香港及美国律师;

  君合为其券商中国律师;

  普衡为其券商香港及美国律师;

  迈时资本为其合规顾问;

  灼识咨询为其行业顾问。

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