By hmimcu 
On the evening of March 14th, the website of the Shanghai Stock Exchange showed that due to the withdrawal of Beijing Jichuang North Technology Co., Ltd. and its sponsor’s application for issuance and listing, the Shanghai Stock Exchange has decided to terminate its issuance and listing review in accordance with relevant regulations. According to data, the Shanghai Stock Exchange accepted the IPO application of Beijing Jichuang North Technology Co., Ltd. on the Science and Technology Innovation Board in June 2022.
It is understood that Jichuang North is an internationally leading display chip design enterprise. Since its establishment in 2008, it has always focused on the research and development, design, and sales of display chips, committed to providing display chip solutions for various display panels and displays. The company now has a rich range of display chip products, mainly including panel display driver chips, power management chips, LED display driver chips, control chips, etc., covering mainstream display technologies such as LCD, LED, OLED, etc., widely used in smartphones, televisions, laptops, tablets, displays, wearable devices, and various indoor and outdoor LED displays, able to meet customers’ diverse display needs.
In this IPO, Jichuang North plans to issue no more than 76070300 shares to raise 6 billion yuan to invest in eight major projects, including “Research and Industrialization of Display Touch Integrated Chips”, “Research and Industrialization of Display and Multimedia Processing Chips”, and “Research and Industrialization of OLED Display Driver Chips”.
According to the company’s IPO application materials, from 2019 to 2021, its operating revenue was 1.447 billion yuan, 2.38 billion yuan, and 5.674 billion yuan, respectively, with a compound growth rate of 98.00%; The net profit after deduction was -171 million yuan, 47.9074 million yuan, and 1.409 billion yuan, respectively. This means that after turning losses into profits in 2020, Jichuang North achieved a year-on-year increase of over 28 times in its net profit deduction in 2021. From the basic information disclosed in the application materials alone, the revenue and profitability level of Jichuang North should be considered as one of the most eye-catching enterprises among the companies applying for listing on the Science and Technology Innovation Board during the same period.
In addition, the shareholder lineup of Jichuang North is extremely luxurious. As of its IPO application, a total of 96 investment institutions have appeared on its shareholder list. In addition to industry-leading funds such as Xiaomi, TCL, Huawei, and VIVO, well-known investment institutions such as Yizhuang Guotou, Guotou Entrepreneurship, Zhuhai Science and Technology Innovation Investment, and Dahengqin Investment also hold shares in it.https://www.stoneitech.com/