Ever Display IPO Coming Soon

Published February 8, 2021

According to an announcement from the Shanghai Stock Exchange on February 1st, 2021 , Ever Display has passed a censorship milestone and will be public listed in the Star market after finishing the registration and waiting for the registration to be valid. If everything goes smoothly, we can expect to see its stock listed in H1 2021.

Progress of Ever Display IPO

Source: Shanghai Stock Exchange’s announcement

According to Ever Display’s announcement, it plans to raise CNY 10 billion from the stock market and 80% of the raised funds will be used for the construction of its Gen 6 AMOLED line. Since the Shanghai government is in control of this company, Ever Display can be considered as a city-owned facility which might give it some advantages in competing with other players outside of China. In the meantime, in contrast to other panel makers which have made heavy investments in flexible AMOLED production, Ever Display’s core business remains rigid AMOLED production. In principle, focusing on a differentiated business sector might allow good profits without competing with industry giants head-to-head. However, its financial statement suggests otherwise as it also facing financial losses in the past few years.

  • Most of the revenue Ever Display obtained in the past was from display production.
  • Most of the display income came from smartphones.
  • Besides the business in AMOLED panel production, Ever Display also has leading advantages in FMM production with its own Gen 4.5 Production line inside of its Gen 4.5 factory.

Ever Display Financial Statement (CNY M)

Source: Ever Display Announcement

Ever Display’s Display Revenue by Application

Source: Ever Display Announcement
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Written by

Chase Li