OLED Material Tech, Key Supplier of BOE and TCL, Registers Star Market IPO
COVID-19 and China
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On August 6, the registration application of Jilin OLED Material Tech Company Ltd to go public on China's Star Market was approved (link in Chinese) by the Shanghai Stock Exchange. The company submitted the application on July 8. 

OLED Material Tech develops, manufactures and markets OLED materials, including terminal organic light-emitting materials, which the core components of OLED displays are produced out of, and source evaporators, crucial equipment used to produce OLED display panels.  

By the end of 2019, the firm had the equivalent of CNY 825 million in total assets, which had increased by 153% from the end of 2017. Revenue septupled over the same period and the company moved from a CNY 11.2 million net loss in 2017 to a net income of 108.7 million in 2019. The prospectus also shows that the company reduced its debt ratio from 69.8% to 45.7% throughout 2019. 

The company is estimated to have acquired in 2019 a 6.04% market share in the domestic organic light-emitting material area. Though this industry is dominated by overseas firms, Chinese OLED companies are in the growth period with technology and productivity constantly upgrading. In terms of the evaporation equipment, the firm focuses on the sixth generation of AMOLED products. In the evaporation equipment area, the company has achieved self-sufficiency, mass production and import substitution. The segment accounted for 57.72% of the company's main business gains in 2019.

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