Yirui Technology расширяет свою бизнес-географию, добавляя производство кремниевых микроэкранных панелей и осваивая рынок XR-устройств

[Shanghai, 31 March 2026] Jiangsu Yirui Electronic Technology Group Co., Ltd. (Securities code: 688301, Securities abbreviation: Yirui Tech) today released an announcement, stating that its 25th meeting of the third session of the board of directors considered and approved the proposal titled “A Proposal on Adding the Product Scope to Certain Raised Fund Investment Projects and Introducing the Company’s New Main Business.”

The company has decided to add a silicon-based microdisplay backplane product to the convertible bond raised fund project “Industrialization Project for New-Type Detectors and Scintillator Materials,” and to include “Silicon-Based Microdisplay Backplane R&D, Production, and Sales” in the company’s main business.

The announcement shows that the company’s expansion this time is based on the synergy between its existing CMOS sensor production lines and the silicon-based microdisplay backplane in terms of technology, processes, and equipment. It is introduced that the core components of CMOS detectors and the silicon-based microdisplay backplane share common ground in the principle of optoelectronic conversion, and that the two have a high degree of similarity in circuit structure, manufacturing processes, and so on. The company’s existing production lines can realize the cross-switching of capacity for both types of products.

Progress of the raised fund projects

As of 31 December 2025, the overall investment progress of the company’s convertible bond raised fund investment projects has reached 89.08%; among them, the investment progress of the “Industrialization Project for New-Type Detectors and Scintillator Materials” has exceeded 100%.

Unit: RMB ten thousand

New business layout and market outlook

Yirui Tech states that the newly added silicon-based microdisplay backplane business is mainly used to produce silicon-based OLED microdisplays, which ultimately are applied to smart terminal devices such as AI glasses, VR headsets, drone FPV, and others. This business layout responds to national policy direction. Policies such as the “Action Plan for Integrating the Development of Virtual Reality and Industry Applications (2022–2026)” clearly support upgrades of microdisplay technology.

Market data shows that the silicon-based OLED microdisplay market is demonstrating rapid growth. According to a report by Frost & Sullivan, global silicon-based OLED microdisplay sales increased from RMB 390 million in 2020 to RMB 1.27 billion in 2024, with a CAGR of 34.3%; it is expected that by 2030 sales will reach RMB 67.93 billion, with a CAGR from 2024 to 2030 as high as 94.11%. In terms of shipment volume, in 2024 it was 6.365 million units, and it is expected to reach 399.566 million units by 2030. During the period, the CAGR is 99.36%.

Risk warning

The company also points out that the newly added business faces three major risks: first, geopolitical and trade friction risks, because specific end customers are located overseas; second, the risk of higher depreciation and amortization for the newly added business, because the company has made large investments in the factory plant and production lines in Hefei; third, the risk of increased customer concentration and related-party sales. At present, the company’s direct customers are related parties, Visionage Technology.

Yirui Tech states that this business expansion is beneficial for deepening the industrial chain layout, cultivating new revenue and profit growth drivers, and is expected to have a positive impact on the company’s future operating performance. The sponsoring institution, China International Financial Co., Ltd., issued a clear verification opinion on this matter, holding that there is no situation where the raised funds’ intended use is effectively changed or where the interests of shareholders are harmed.

This adjustment does not require submission for consideration by the general meeting of shareholders, within the scope of the board’s approval authority.

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