Shiya: Plans to sign 1.6 billion Micro OLED deal

On May 28, Shiya Technology issued an announcement that due to the needs of business progress, the company plans to increase the estimated amount of daily related transactions in 2026. According to the announcement, Shiya Technology will sell silicon-based OLED micro-displays to Goertek Optical Technology (Hong Kong) Co., Ltd., with an estimated annual amount of no more than 1.6 billion yuan. The expected related transaction has been reviewed and approved by the company's board of directors.

This related transaction stems from specific customer project needs. The announcement shows that Shiya Technology is advancing the cooperation project based on the product development project framework agreement and prepayment agreement signed with a strategic customer. Based on its own business needs, the customer designated Goertek Optical Hong Kong as the counterparty of Shiya Technology's silicon-based OLED microdisplay.

For this related transaction, Shiya Technology reminded the relevant risks in the announcement. The company stated that the above 1.6 billion yuan is a reasonable estimate based on the customer's business needs. The final order execution amount may be affected by factors such as the customer's industry policies, operating conditions, changes in procurement needs, etc., and there is uncertainty.

As the world's first company to achieve large-scale mass production of silicon-based OLED microdisplays based on 12-inch wafer backplanes, Shiya Technology takes silicon-based OLED microdisplays as its core product and provides customers with value-added services including strategic product development, optical systems and XR overall solutions.

On March 25 this year, Shiya Technology was officially listed on the Shanghai Stock Exchange’s Science and Technology Innovation Board, becoming the first silicon-based OLED stock. According to the prospectus, the funds raised by Shiya Technology are mainly invested in two major projects. Among them, approximately 1.609 billion yuan was used for the ultra-high-resolution silicon-based OLED micro display device production line expansion project, and approximately 406 million yuan was used for the R&D center construction project.

The above-mentioned investment project aims to enhance the company's production capacity and technical level of silicon-based OLED microdisplays to meet the rapidly growing demand of the downstream XR market. The company also stated that the digestion progress of new production capacity is closely related to the implementation of orders from downstream customers.

In the listing prospectus, Shiya Technology disclosed that the company has signed a cooperation agreement with a strategic customer in the XR field, and the customer paid a production capacity deposit of 1.1 billion yuan in the first half of 2025.

It is reported that Shiya Technology has established cooperative relationships with a number of well-known domestic and foreign companies, and its customer base covers XR terminal brands such as ByteDance, Shadowstone Innovation, Thunderbird Innovation, and Lenovo. (Compiled by LEDinside)

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