Core Viewpoint - The company, Shiya Technology, is progressing with its IPO application on the Shanghai Stock Exchange's Sci-Tech Innovation Board, with a focus on expanding its production capacity and enhancing technology in the silicon-based OLED microdisplay sector [1][2]. Group 1: Company Overview - Shiya Technology was established in 2016 and is headquartered in Hefei, specializing in silicon-based OLED microdisplay technology [3]. - The company's products primarily target head-mounted display devices and smart glasses, with notable clients including DJI, Xiaomi, XREAL, and Thunderbird [3]. Group 2: Production Capacity - Currently, Shiya Technology operates a 12-inch evaporation production line with a monthly capacity of 9,000 wafers, having shipped over 1 million units to date [4]. - The company plans to expand to three production lines, increasing its monthly capacity to 27,000 wafers [4]. Group 3: Financial Performance - The projected revenue for Shiya Technology from 2022 to 2024 is 190 million, 215 million, and 280 million yuan respectively, while net losses are expected to be 247 million, 304 million, and 247 million yuan for the same years [5].

Company Overview - Shenzhen Xinshi Technology Co., Ltd. (referred to as "Xinshi") was established in September 2020 and focuses on the research and development of silicon-based OLED microdisplay technology [2] - The company aims to provide high-resolution, high-contrast, ultra-thin, low-power, and highly reliable silicon-based OLED microdisplay devices and flexible AMOLED advanced display modules for global customers [2] - Xinshi's products are widely used in various fields, including VR/AR, electronic viewfinders, special applications, automotive, and mobile portable smart devices [2] - The company has a team of over 130 employees, with more than 70% being R&D technical personnel, and has applied for over 100 patents, with more than 20 authorized [2] Recent Financing - Xinshi recently completed a 600 million yuan (approximately 84 million USD) Pre-A round financing led by Chuangdong Capital and Eucalyptus Capital, with participation from Zhenjiang Guokong and Qiancheng Capital [1] - The funds will primarily be used to accelerate the R&D innovation of silicon-based OLED microdisplay technology, promote product iteration and upgrades, and further expand market channels [3] Market Potential and Investment Rationale - The investment director of Chuangdong Capital highlighted Xinshi's strong technical strength and innovation capability in the silicon-based OLED microdisplay technology field, noting the team's rich experience and the broad market prospects for its products [3] - The rapid development of emerging technologies such as VR/AR has led to a continuous increase in market demand for silicon-based OLED microdisplay technology, which is considered a core component [3] - Government policies have been introduced to support the innovation and development of semiconductor display technology, recognizing Xinshi's technical strength and injecting new momentum into the industry [3]