SeeYA Technology Co., Ltd. (SeeYA Technology) has successfully passed the listing committee review for its IPO on the Shanghai Stock Exchange's STAR Market. Guotai Haitong serves as its sponsor, aiming to raise 2.015 billion yuan.

According to the prospectus, SeeYA Technology is a global leader in microdisplay integrated solutions, with its core product being silicon-based OLED microdisplays. The company also provides value-added services such as strategic product development, optical systems, and XR integrated solutions.

SeeYA Technology is the world's first company to achieve mass production of silicon-based OLED microdisplays using 12-inch wafer backplanes. It is also one of the few innovative firms globally with full-stack in-house R&D capabilities in silicon-based OLED "display chips + microdisplays + optical systems."

The company plays a pivotal role in China's silicon-based OLED supply chain. Recognized as a national leader in the new display industry chain by the Ministry of Industry and Information Technology, SeeYA Technology has been entrusted to spearhead breakthroughs in flagship products for the silicon-based OLED sector, enhancing the resilience and security of the new display supply chain.

Committed to self-sufficiency, the company continuously advances key technologies and processes while fostering domestic equipment and material suppliers to diversify upstream supply chains.

Silicon-based OLED microdisplays have long been dominated by foreign manufacturers. With rapid growth in downstream applications, their industrial significance continues to rise. Since its inception, SeeYA Technology has positioned itself as a global leader in microdisplay solutions, innovating core technologies including silicon-based OLED strong microcavity technology, crosstalk interception technology, and high-efficiency stacked full-color OLED technology.

These innovations have enabled the company to push performance boundaries, transitioning from catching up to leading the industry. Currently, its silicon-based OLED microdisplays match or surpass Sony's comparable products in key performance metrics.

Per Frost & Sullivan's report, only Sony and SeeYA Technology achieved million-unit shipments in 2024. Sony ranked first globally in XR device silicon-based OLED shipments, capturing 50.8% market share, while SeeYA Technology ranked second worldwide and first domestically with 35.2% share.

The company's technological prowess and product performance have gained broad recognition from downstream markets and clients, securing partnerships with leading customers including ByteDance, Insta360, TCL RayNeo, and Lenovo.

Proceeds from the IPO will fund designated projects after deducting issuance costs.

Financially, the company reported revenues of approximately 190 million yuan (2022), 215 million yuan (2023), 280 million yuan (2024), and 150 million yuan (Jan-Jun 2025). Corresponding net losses were -247 million yuan, -304 million yuan, -247 million yuan, and -123 million yuan respectively.