此次科创板IPO，视涯科技拟募集资金约20.15亿元，其中16.09亿元将投向超高分辨率硅基OLED微型显示器件生产线扩建项目，4.06亿元用于研发中心建 设项目。 | 序号 | 募集资金的投资方向 | 拟投资金额 | 足 | 备案文号 | | --- | --- | --- | --- | --- | | | 超高分辨率硅基 OLED 微型显示器件 生产线扩建项目 | 160,888.80 | 79.86% | 2501-340163-04-05-980051 | | 2 | 研发中心建设项目 | 40,568.45 | 20.14% | 2501-340163-04-05-712150 2501-310115-04-05-979129 | | | 合计 | 201,457.25 | 100.00% | > 公众号 · 芯智讯 | 12月24日晚间，"上海证券交易所上市委2025年第67次审议会议结果公告"显示，视涯科技股份有限公司（以下简称"视涯科技"）符合发行条件、上市条件 和信息披露要求，且无需进一步落实事项。这也意味着"国产硅基OLED第一股"即将诞生！ 视涯科技表示，公司处于我国微显示产业链中上游 ...

Core Viewpoint - Shiya Technology Co., Ltd. has received approval for its initial public offering (IPO) and listing on the Sci-Tech Innovation Board, indicating strong market confidence in its business model and growth potential [1]. Group 1: IPO and Fundraising - Shiya Technology plans to issue up to 100 million new shares, with total capital raised expected to be 2.015 billion yuan [3]. - Approximately 1.609 billion yuan will be allocated to the expansion of its ultra-high-resolution silicon-based OLED micro-display production line, increasing capacity to 10.8 million screens [3][4]. - The remaining 406 million yuan will be invested in the construction of a research and development center, focusing on new display technologies [3][4]. Group 2: Company Overview - Established in 2016 and headquartered in Hefei Comprehensive Bonded Zone, Shiya Technology specializes in silicon-based OLED micro-displays and optical systems [5]. - The company has developed the world's first 12-inch silicon-based OLED micro-display production line, achieving significant technological breakthroughs [6]. Group 3: Financial Performance - Revenue projections for Shiya Technology are 190 million yuan, 215 million yuan, and 280 million yuan for the years 2022, 2023, and 2024, respectively, with a narrowing net profit loss [6]. - For the first nine months of 2025, the company reported revenue of 293 million yuan, a 54.7% increase year-on-year [6]. - As of June 2025, the company has orders totaling 306 million yuan, a 140.67% increase compared to the same period in 2024 [7]. Group 4: Future Outlook - Shiya Technology anticipates full-year revenue for 2025 to be between 460 million yuan and 510 million yuan, representing a year-on-year growth of 64.25% to 82.11% [8]. - The company has invested heavily in R&D, with cumulative R&D expenditures over the past three years accounting for 115.61% of total revenue [8]. - With the IPO approval, Shiya Technology is set to become the first silicon-based OLED company listed on the A-share market [8].

Core Viewpoint - The article highlights the upcoming IPO of Shiya Technology, a leading provider of micro-display solutions, emphasizing its role in promoting domestic alternatives in the XR hardware sector and its potential for capitalizing on the growing XR market [1]. Group 1: Market Position and Technology - XR technology is revolutionizing user interaction by integrating virtual and real-world experiences, moving from flat to spatial interaction [2]. - Major tech companies like Apple, Meta, and Huawei are investing heavily in XR, indicating its emergence as the next computing platform after smartphones [7]. - Silicon-based OLED micro-displays are identified as the essential visual core for XR devices, offering advantages such as lightweight design, high resolution (over 3000 PPI), low latency (under 1ms), and wide color gamut [7][8]. - The market for silicon-based OLED displays has been dominated by foreign companies like Sony and Samsung, but there is a growing need for innovation to meet the high-performance demands of XR applications [8]. Group 2: Company Development and Achievements - Founded in 2016, Shiya Technology focuses on high-performance silicon-based OLED products, overcoming traditional technology limitations [9]. - The company has established the world's first 12-inch silicon-based OLED micro-display production line, positioning itself as one of the few companies with comprehensive self-research capabilities [9]. - According to a report, Shiya Technology is projected to capture 35.2% of the global market share for silicon-based OLED products in XR devices by 2024, ranking second globally and first domestically [11]. Group 3: R&D and Competitive Edge - Shiya Technology has built a strong technical barrier through a top-tier R&D team and significant investment in research, with R&D personnel constituting 31.02% of its workforce [12]. - The company has maintained high R&D expenditure, with amounts reaching 23.7 million yuan in 2022, and has secured 267 patents, establishing a robust technological moat [13]. - Innovations such as strong micro-cavity technology and high-efficiency OLED structures have allowed Shiya Technology to exceed the performance of competitors like Sony [14]. Group 4: Financial Performance and Growth Potential - Shiya Technology's revenue has shown steady growth, with a compound annual growth rate of 21.27% from 2022 to 2024, and a significant increase of 54.67% in the first nine months of 2025 [16]. - The company anticipates revenues of 469 million yuan, 2.26 billion yuan, and 3.73 billion yuan from 2025 to 2027, indicating a potential for exponential growth [18]. - The company is also extending its service offerings to include strategic product development and optical systems, enhancing customer loyalty and pricing power [19]. Group 5: Market Trends and Future Outlook - The rise of AI is expected to significantly boost the XR market, with silicon-based OLED displays being crucial for presenting AI-generated content [20]. - The global silicon-based OLED market is projected to grow at a compound annual growth rate of 94.11%, reaching 67.93 billion yuan by 2030 [20]. - Shiya Technology plans to raise 2.01 billion yuan through its IPO to expand production capacity and enhance R&D, addressing the current supply-demand imbalance [22][23]. - Overall, Shiya Technology is positioned to lead in the AI-driven XR industry, contributing to the advancement of China's new display industry [24].

据记者梳理，视涯科技已与多家全球头部科技企业建立深度合作关系。2025年上半年，公司与特定战略 客户签署预付款协议，锁定2026年起每年数百万块硅基OLED微显示屏的产能，为未来业绩增长提供坚 实保障。目前，该公司也在为字节跳动等战略客户推进定制化产品开发项目，预计将在2025年至2027年 间逐步转化为量产订单，进一步带动该公司业绩增长。 截至2025年6月末，该公司在手订单金额已达3.06亿元，显示出强劲的下游需求。值得一提的是，为应 对未来订单需求，视涯科技正积极推进产线扩建。该公司当前产能利用率已接近饱和，2025年上半年达 98.92%。本次通过募投项目"超高分辨率硅基OLED微型显示器件生产线扩建"及自筹资金建设项目，该 公司计划进一步扩充12英寸晶圆背板产能，突破阳极段与蒸镀段瓶颈，支撑销量目标实现。 本报讯(记者徐一鸣)近日，上海证券交易所官网显示，上交所上市委2025年第67次审议会议定于12月24 日召开，届时将审议视涯科技股份有限公司(以下简称"视涯科技")的首发申请。作为全球硅基OLED龙 头企业，此次视涯科技IPO备受市场关注。根据招股书披露的信息，该公司在技术研发和产业化方面取 得 ...

Core Viewpoint - The company, Chipview, has successfully lit up its 12-inch Micro OLED production line (K2 project), marking a new phase in the commercialization of silicon-based OLED products [1]. Group 1: Product Details - The newly lit product features a screen size of 0.49 inches, a resolution of 1920x1080, and a full-color brightness exceeding 3000 nits. After passing reliability tests, it will soon be supplied in bulk to customers [2]. - Chipview specializes in the research and development of silicon-based OLED microdisplay technology, providing silicon-based OLED microdisplay devices and flexible AMOLED display modules for various applications, including VR/AR, electronic viewfinders, special applications, automotive, and mobile portable smart devices [2]. Group 2: Production Capacity and Investment - The company has invested 100 million yuan in its K1 factory located in Huainan, which began production in April 2023, primarily manufacturing silicon-based OLED microdisplays, flexible OLED smartphone screens, and automotive display modules, with an annual output value expected to reach 200 million yuan [2]. - The K2 project has a total investment of 1.5 billion yuan, with the first phase starting construction in June 2023 in Huainan, aiming for a monthly production capacity of 4,000 12-inch wafers, mainly for Micro OLED microdisplays used in AR/VR/MR applications [2]. - Additionally, Chipview is expanding its capacity with the establishment of the K3 factory in Fengcheng, Jiangxi, which was officially set up in November this year [2]. Group 3: Future Plans - The company plans to invest 1 billion yuan in a project focused on high-end OLED module manufacturing, which will be executed in two phases: the first phase aims for an annual production of 12 million flexible OLED modules with two fully automated production lines, while the second phase targets 2.5 million silicon-based OLED display modules, also with two fully automated production lines. The first phase is expected to be operational by the end of December 2025, with a projected annual output value exceeding 1 billion yuan upon full production [4]. - Chipview aims to continuously optimize product performance, enhance production line capabilities, and collaborate with industry partners to promote the industrialization of Micro OLED technology, contributing to the innovative development of the global new display industry [4].

Core Viewpoint - Suzhou Weichuangda Intelligent Equipment Co., Ltd. is establishing itself as a leading manufacturer of diamond cutting equipment for silicon-based OLED displays, with its Hubei Huangshi base projected to produce 50 sets annually, positioning it as the largest production base in China for AR/VR silicon-based OLED cutting equipment [1][4]. Group 1 - The first phase of the Huangshi base project has completed equipment installation, while the second phase is under construction [1]. - Weichuangda specializes in the research, production, and sales of display panel equipment, including TFT-LCD, LTPS, and AMOLED technologies [1]. - The company has developed various products such as bonding machines, dispensing machines, curing machines, AOI equipment, and packing equipment, and has become a supplier for major display manufacturers like BOE, TCL Huaxing Optoelectronics, and Tianma Microelectronics [1][4]. Group 2 - The manufacturing process for silicon-based OLED panels is complex, requiring the cutting of millions of pixel units from a small area, which traditional laser cutting methods struggle with due to heat-affected zones and residual debris [4]. - Diamond cutting equipment utilizes a "cold processing" principle, allowing for physical cutting at the nanoscale with a flatness error of no more than 0.1 microns, ensuring high-quality pixel units [4]. - Weichuangda is optimistic about the application prospects of diamond cutting equipment in the silicon-based OLED micro-display sector and plans to continue advancing the production of related equipment [4].

Core Viewpoint - The article emphasizes the potential investment opportunities in AI-related companies and those involved in the medical equipment sector, highlighting the advancements in AI technology and the recovery of the domestic medical market [1] Group 1: AI Sector - AI Agent core targets and overseas trade platform enterprises are highlighted, with the current AI iteration reaching version 4.0, indicating a well-established paid membership system that is expected to accelerate the increase in ARPU (Average Revenue Per User) [1] Group 2: Medical Equipment Industry - The company is positioned to benefit from the recovery of the domestic medical equipment market, with a comprehensive layout across the CT (Computed Tomography) value chain that breaks monopolies. The company has also started winning bids for downstream customer procurement projects, leading to a positive revenue growth rate and accelerated profits in the second quarter [1]

Group 1 - The core viewpoint of the news is the release of the "Shanghai Next-Generation Display Industry High-Quality Development Action Plan (2026-2030)" aimed at promoting innovation in display technology, particularly through smart glasses and various forms of augmented reality (AR) and mixed reality (MR) products [1][2] - The action plan emphasizes the development of next-generation display technologies such as Micro LED, silicon-based OLED, and flexible displays, while strengthening the supply capabilities in four core areas: optical waveguides, display chips, core equipment, and key materials [1][2] - Industry experts highlight that display technology is crucial for AR glasses, affecting image quality, product form, cost, and functionality, with display screens and optical modules accounting for 45% to 55% of total costs in AR glasses [1][2] Group 2 - The industry has not reached a consensus on display technology routes, with different companies like Google, Microsoft, and Apple adopting various approaches, indicating a need for collaborative efforts and innovation in application scenarios as outlined in the action plan [2] - The action plan aims to support the development of distinctive industrial clusters in areas such as Lingang, Jing'an, and Pudong, and to foster cross-enterprise technological collaboration through forums and industry alliances [2] - Shanghai is home to several companies that are forming a preliminary industrial chain cluster, including Shanghai Longqi Technology Co., Ltd. and Shanghai Xianya Information Technology Co., Ltd., which are positioned to benefit from the action plan [2] Group 3 - The industrial chain advantages in Shanghai are attracting investments from terminal manufacturers, with AR glasses company XREAL establishing its headquarters in Shanghai due to the concentration of key component manufacturers in the region [3] - XREAL has maintained the largest market share in the global AR market for three consecutive years (2022-2024), indicating the strategic importance of Shanghai in the AR industry [3] - The Shanghai Global Investment Promotion Conference highlighted the city's significance as a long-term development base for companies in the XR sector, further solidifying its role in the industry [3]

Core Viewpoint - The article highlights the acceptance of Visionary Technology's IPO application on the Sci-Tech Innovation Board, aiming to raise 2.015 billion yuan for production line expansion and R&D center construction to enhance capacity and technology optimization [1]. Company Overview - Visionary Technology, established in 2016 and headquartered in Hefei, specializes in Micro OLED displays, with applications in head-mounted displays and smart glasses, collaborating with brands like DJI, Xiaomi, XREAL, and Thunderbird [1]. Production Capacity - Currently, the company operates a 12-inch evaporation line with a monthly capacity of 9,000 wafers, having shipped over 1 million units [3]. - Future plans include expanding to three 12-inch evaporation lines, increasing monthly capacity to 27,000 wafers [3]. Financial Performance - Financial projections indicate revenues of 190 million yuan, 215 million yuan, and 280 million yuan for 2022, 2023, and 2024, respectively, while the company remains in a loss position with net profits of -247 million yuan, -304 million yuan, and -247 million yuan for the same years [3]. - The company acknowledges that the current phase is a rapid development period for the industry, with AI terminal products evolving quickly, and is investing heavily in production lines, which may pressure short-term profitability due to depreciation costs but is expected to improve as capacity is released [3].

Core Viewpoint - The article highlights the successful IPO application of Visionary Technology Co., Ltd. on the Sci-Tech Innovation Board, aiming to raise 2.015 billion yuan for expanding production capacity and enhancing R&D capabilities [1][4]. Company Overview - Visionary Technology is a leading global provider of micro-display solutions, specializing in silicon-based OLED micro-displays, and offers value-added services including strategic product development and optical systems [2]. - The company is the first globally to achieve mass production of silicon-based OLED micro-displays using 12-inch wafer backplanes and possesses comprehensive self-research capabilities across the entire stack of "display chip + micro-display + optical system" [2]. Financial Performance - From 2022 to 2024, the company has seen continuous revenue growth, but R&D expenses have also increased significantly, with ratios of R&D expenses to revenue at 124%, 133%, and 96% respectively [3]. - The company reported net losses of 247 million yuan, 304 million yuan, and 247 million yuan during the same period, indicating it has not yet achieved profitability and has accumulated unremedied losses [3]. Shareholding Structure - The company has a special voting rights arrangement, where the controlling shareholder's A-class shares have a voting power ratio of 7:1 compared to B-class shares, allowing the actual controller to hold approximately 62% of the voting rights despite only holding about 29% of the shares [3]. IPO Fund Utilization - The funds raised from the IPO will be allocated to the expansion of ultra-high-resolution silicon-based OLED micro-display production lines and the establishment of R&D centers, which will help the company enhance its production capacity and technical strength [4]. Industry Position and Growth Potential - As a leading enterprise in the silicon-based OLED industry, the company aims to solidify its market position through the implementation of the fundraising projects, which will also promote the development of the upstream and downstream sectors of the industry in China [5]. - The market for silicon-based OLED micro-displays is expected to grow rapidly, with applications expanding into various fields such as medical, education, and industrial internet [7]. Production Capabilities - The company has established a production line focused on 12-inch wafers, capable of producing 9,000 pieces per month, which is more cost-effective and technologically advanced compared to traditional 8-inch wafers [6]. - A second production line is under construction to further meet customer demand, with the existing facility capable of accommodating three production lines, potentially reaching a maximum capacity of 27,000 pieces per month [6].