CSRC approves SiiWay Technology's application for listing on the Shanghai Stock Exchange's Science and Technology Innovation Board (STAR Market) IPO.

On January 15th, the China Securities Regulatory Commission issued the approval for the initial public offering of shares by Visionox Technology Co., Ltd. It is reported that Visionox Technology plans to list on the Shanghai Stock Exchange Sci-Tech Innovation Board, with Guotai Haitong as the sponsor institution, intending to raise 2.015 billion yuan. The prospectus shows that Visionox Technology is a leading global provider of overall solutions for microdisplays, with its core product being silicon-based OLED microdisplays. The company also provides value-added services such as strategic product development, optical systems, and overall solutions for XR. The company is the world's first enterprise to achieve mass production of silicon-based OLED microdisplays based on 12-inch wafer substrates, and it is also one of the few globally with self-developed capabilities for the entire stack of silicon-based OLED "display chip + microdisplay + optical system" in the field of science and technology innovation. Currently, the company's core product, silicon-based OLED microdisplays, has reached or surpassed Sony's comparable products in key performance indicators. According to a report by Frost & Sullivan, by 2024, there are only two manufacturers in the industry with a million shipments, Sony and Visionox Technology. In 2024, Sony ranked first in global shipments of XR devices with silicon-based OLED products, accounting for approximately 50.8% of the total market shipments; the company ranked second globally and first domestically, accounting for about 35.2% of the total market shipments.