Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved the registration application for the initial public offering (IPO) of Shiya Technology Co., Ltd., allowing the company to proceed with its plans to list on the STAR Market, marking it as the first company in the A-share market to focus on silicon-based OLED technology [1][2]. Group 1 - Shiya Technology, established in 2016, specializes in silicon-based OLED micro-displays and optical systems, as well as XR overall solutions [2]. - The company plans to issue no more than 100 million new shares, with total fundraising expected to reach 2.015 billion yuan. Approximately 1.609 billion yuan will be allocated to expand the production line for ultra-high-resolution silicon-based OLED micro-displays, increasing the capacity to 10.8 million screens [2]. - An additional 406 million yuan will be invested in the construction of a research and development center, focusing on upgrading silicon-based OLED micro-display driver chips and new display technologies [2].

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].