刚刚，视涯科技IPO过会！

Core Viewpoint - The Shanghai Stock Exchange's listing committee has approved Shiya Technology Co., Ltd. for its IPO, confirming that the company meets the issuance, listing, and information disclosure requirements without needing further actions [1][15]. Company Overview - Shiya Technology is a leading provider of micro-display solutions, specializing in silicon-based OLED micro-displays, and offers value-added services including strategic product development and optical systems [8][21]. - The company has established a strong shareholder structure, with significant investments from both financial institutions and industry giants, fostering a deep industrial collaboration ecosystem [8][21]. Financial Projections - The company forecasts significant revenue growth, projecting revenues of 469 million yuan, 2.26 billion yuan, and 3.73 billion yuan for the years 2025 to 2027, respectively, indicating a leap in growth [4][17]. - Historical performance shows revenue growth from 190 million yuan in 2022 to 280 million yuan in 2024, with a 54.67% increase in revenue to 293 million yuan in the first three quarters of 2025 compared to the previous year [5][20]. Market Position and Strategy - Shiya Technology has successfully penetrated the supply chains of several leading terminal manufacturers both domestically and internationally, with key cooperation agreements expected to yield millions of silicon-based OLED micro-displays annually starting in 2026 [6][20]. - The company is positioned in the upper reaches of China's micro-display industry chain, aiming to enhance supply security and promote domestic substitution of equipment and materials through its fundraising efforts [11][23]. Investment Plans - The company plans to raise approximately 2.015 billion yuan, with 1.609 billion yuan allocated for expanding the production line of ultra-high-resolution silicon-based OLED micro-displays and 406 million yuan for the construction of a research and development center [11][26]. Industry Trends - The demand for high-performance silicon-based OLED micro-displays is experiencing exponential growth as leading terminal manufacturers accelerate the iteration of XR products [14][24]. - Shiya Technology is the first globally to achieve mass production of silicon-based OLED micro-displays using 12-inch wafer backplanes and is among the few companies with comprehensive self-research capabilities in display chips, micro-displays, and optical system solutions [14][24].