Shengyang Technology plans to increase its investment by more than 1 billion yuan and increase investment in new smart display and other projects

On June 10, Zhejiang Shengyang Technology Co., Ltd. disclosed its plan to issue A shares to specific targets in 2026, and planned to raise no more than 1.076 billion yuan through a private placement.

This fundraising is mainly invested in three major directions: satellite Internet communication terminal intelligent manufacturing projects, new smart display device intelligent manufacturing projects and supplementary working capital.

The new smart display device project focused on this fundraising is implemented by Shengyang Technology in Shaoxing, Zhejiang, with a construction period of 36 months. It plans to build a flexible intelligent production line and testing center to add production capacity for small-size display devices such as LCD, VFD, and LED.

From the perspective of business structure, Shengyang Technology was founded in 2003 and listed on the main board of the Shanghai Stock Exchange in 2015. It originally started with the radio frequency cable business. In recent years, it has gradually expanded into wireless communications, satellite Internet and new display fields, forming a "dual main line" layout.

In 2025, the company's main business revenue will be approximately 902 million yuan, a year-on-year increase of 10.73%. Among them, the revenue from radio frequency cables and supporting products is approximately 419 million yuan, accounting for 46%; the display device business is approximately 293 million yuan, accounting for 33%, and is operated by the subsidiary Qiusheng Optoelectronics. Customers include Midea, Bosch, etc.; the satellite communication terminal business is approximately 96 million yuan, accounting for 11%. It has achieved small batch shipments and won the bid for CANAL+GROUP related procurement projects.

The company stated that this project mainly targets existing production capacity bottlenecks, improves efficiency by introducing automation and flexible manufacturing systems, and strengthens detection capabilities to meet the needs of high-end customers in complex application scenarios such as high brightness, wide temperature, and low power consumption.