Core Viewpoint - The sales of consumer-grade AR/VR devices in China's three major e-commerce platforms are expected to exceed 200 million during the 2025 618 shopping festival [1]. Group 1: Overall Sales Situation - The overall sales volume of consumer-grade AR/VR devices during the 618 shopping festival (from May 20 to June 20) will be analyzed [2]. - The overall sales revenue of consumer-grade AR/VR devices during the 618 shopping festival will be detailed [3]. Group 2: Sales by Category - The sales volume and year-on-year growth of consumer-grade AR/VR devices will be categorized and summarized [4]. Group 3: Platform-Specific Sales - The top brands' sales volume and revenue on the JD platform during the 2025 618 shopping festival will be reported [5]. - The top brands' sales volume and revenue on the Tmall platform during the 2025 618 shopping festival will be reported [6]. - The top brands' sales volume and revenue on the Douyin platform during the 2025 618 shopping festival will be reported [7]. Group 4: Hot Sales Rankings - The hot sales rankings of AR/VR products on JD and Tmall during the 2025 618 shopping festival will be provided [8]. Group 5: Industry Insights - Information regarding the XR industry and new product updates for July will be included [9]. - The financing situation for July will be summarized [10].

Core Viewpoint - The average utilization rate of domestic TFT-LCD panel manufacturers in China is expected to decline by 1-2 percentage points quarter-on-quarter in Q3 2025 [1]. Summary by Sections Section 1: Current Utilization Rates - The report provides statistics on the average utilization rates of various LCD production lines in China for Q2 2025, including specific data for major manufacturers such as BOE, CSOT, TM, HKC, and CHOT [4]. Section 2: Future Predictions - A forecast for the average utilization rate of TFT-LCD panel manufacturers in China for Q3 2025 indicates a slight decrease compared to the previous quarter [1].

Core Viewpoint - The average utilization rate of domestic TFT-LCD panel manufacturers in China is expected to decline by 1-2 percentage points in Q3 2025 compared to the previous quarter [1]. Summary by Sections 1. Current Utilization Rates - The report provides statistics on the average utilization rates of various LCD production lines in China for Q2 2025, including specific data for major manufacturers such as BOE, CSOT, TM, HKC, and CHOT [4]. 2. Q3 2025 Forecast - A forecast for the average utilization rate in Q3 2025 indicates a slight decrease, reflecting ongoing market trends and potential challenges faced by the industry [1]. 3. Production Capacity - The document includes updated production capacity lists for G4.5 to G6 and G8.5 to G11 LCD panel production lines in China, highlighting the current capabilities of the industry [4].

Group 1 - The mobile panel market continues to exhibit structural differentiation in the third quarter, with a-Si panels supported by demand for inventory replenishment after the "6.18" promotion, maintaining full production capacity [2][3] - LTPS panel production lines remain at high utilization rates driven by non-mobile applications such as automotive displays, while demand for flexible AMOLED panels has seen a temporary decline due to adjustments in terminal brand procurement schedules [2][3] - Overall, the mobile panel market in July is characterized by price stability, but significant differences in supply and demand dynamics exist between different technology routes [2][3] Group 2 - For a-Si panels, despite the peak in inventory replenishment following the "618" promotion, demand remains strong, and production lines continue to operate at full capacity. Prices for a-Si modules are expected to see a slight decrease in July due to the declining costs of key raw materials like driver ICs [3][4] - LTPS panels continue to be supported by the automotive display market, but demand in the smartphone sector remains weak due to the trend of AMOLED substitution, leading to low price levels with no significant recovery expected in the short term [3][4] - Rigid AMOLED panel demand is contracting, and price reductions by major manufacturers like Samsung Display have not met expectations, resulting in sustained low prices. Flexible AMOLED panel production rates have slightly decreased due to procurement adjustments, but are expected to rebound as the traditional peak season approaches [4][5]

Core Viewpoint - In May 2025, the domestic smartphone sales in China experienced a month-on-month growth of 19%, while the sales of foldable phones saw a decline of 5% [5]. Group 1: Smartphone Market Overview - The analysis covers the sales trends of smartphones in China for May 2024 to May 2025, highlighting a significant increase in overall smartphone sales [5]. - The report includes a detailed examination of the price segment trends within the Chinese smartphone market during the same period [5]. - Brand trends in the Chinese smartphone market from May 2024 to May 2025 are also analyzed, providing insights into market dynamics [5]. Group 2: Foldable Phone Market Overview - The report details the sales trends of foldable smartphones in China from May 2024 to May 2025, indicating a year-on-year decline [5]. - Price segment trends for foldable phones in the Chinese market are discussed, reflecting changes in consumer preferences and market positioning [5]. - Brand trends within the foldable smartphone market from May 2024 to May 2025 are analyzed, showcasing competitive dynamics [5]. Group 3: Display Panel Price Trends - The report forecasts the price trends for a-Si LCD smartphone panels from July 2023 to July 2025 [5]. - LTPS LCD smartphone panel price trends are also projected for the same period, indicating potential shifts in manufacturing costs [5]. - Price trends for rigid OLED and flexible OLED smartphone panels are included, providing a comprehensive view of display technology costs [5].

Core Viewpoint - The article discusses the impact of domestic subsidy policies and international tariff changes on the panel market, indicating a downward trend in panel prices due to weakened demand and supply conditions [2][3][4]. Group 1: Market Demand - In June, tightening of national subsidy policies in various regions affected domestic market demand expectations, leading to a general decline in panel prices [2][3]. - The "old-for-new" subsidy policy is closely linked to domestic market demand, with retail sales of home appliances showing continuous positive growth until June [4]. - The expected recovery of national subsidies in July may boost market confidence, but the overall demand in the second half of the year may still face pressure due to reduced subsidy amounts and heightened eligibility criteria [3][4]. Group 2: Market Supply - Panel suppliers have adjusted production rates in response to weakened demand, with the average utilization rate of G8.5 production lines around 73% in Q2, down approximately 4 percentage points from the previous quarter [5]. - The overall utilization rate for high-generation lines is expected to remain around 80% in July, with potential adjustments to production to stabilize panel prices [5][6]. - The article anticipates that panel prices will continue to decline in July, with price reductions of $1 to $3 expected across various panel sizes compared to June [6]. Group 3: Price Trends - The article provides a detailed price forecast for various panel sizes, indicating a continued downward trend in prices for July, with specific price points for sizes ranging from 32" to 85" [6]. - The expected prices for July are $32 for 32", $65 for 43", $92 for 50", $118 for 55", $169 for 65", $227 for 75", and $307 for 85" [6].

Core Insights - The article highlights that the usage of UTG (Ultra-Thin Glass) front covers for foldable smartphones in China reached 13,000 square meters in May 2025, representing a year-on-year growth of 134.8% [1]. Group 1: Market Trends - The report covers the penetration rate and usage trends of various front cover materials in the Chinese smartphone market from January 2024 to May 2025 [3]. - It provides a detailed analysis of the sales volume and market share of front cover specifications for major smartphone brands in China [3]. Group 2: Foldable Smartphone Analysis - The report details the changes in the usage of UTG and CPI (Cover Polyimide) front covers for foldable smartphones in the Chinese market from January 2024 to May 2025 [3]. - It also examines the penetration rates of front covers for foldable smartphones during the same period [3]. - The brand market share for UTG front covers in foldable smartphones is analyzed [3]. - The brand market share for CPI front covers in foldable smartphones is also included [3]. Group 3: Brand-Specific Insights - The report includes sales volume and market share data for front cover specifications of Apple smartphones in China from January 2024 to May 2025 [3]. - It provides similar data for Huawei smartphones during the same period [3]. - The report also covers sales volume and market share for Honor, OPPO, vivo, and Xiaomi smartphones in China [3].

Core Insights - The article highlights the continuous growth in the domestic consumer-grade AR market while the VR market remains sluggish [1]. Group 1: Market Trends - The report covers monthly sales trends for consumer-grade AR/VR in China from May 2024 to May 2025, indicating a positive trajectory for AR sales [5]. - The VR market is experiencing ongoing low performance, contrasting with the growth seen in the AR segment [1]. Group 2: Market Structure - The analysis includes trends in market structure for consumer-grade AR/VR products, detailing the competitive landscape and brand performance [5]. - The report provides insights into price segment trends, showcasing how pricing strategies are evolving within the AR/VR markets [5]. Group 3: Technology Trends - The document discusses advancements in display technology and optical technology within the consumer-grade AR/VR markets, emphasizing their impact on product performance [5]. - It also includes information on the top-ranking models in both the AR and VR markets as of May 2025, reflecting consumer preferences and technological advancements [5]. Group 4: Investment and Financing - The report mentions the investment and financing situation for June 2025, indicating ongoing interest and activity in the AR/VR sector [3].

Core Viewpoint - The mobile display panel market is experiencing structural differentiation, with a-Si panels benefiting from stable demand in the mid-to-low-end market, LTPS panels driven by automotive display applications, and flexible AMOLED panels facing a slight decline in demand due to adjustments in terminal brand procurement rhythms [2][3]. Group 1: a-Si Panels - a-Si panels are seeing strong market demand driven by pre-sale preparations for the "6.18" mid-year promotion, maintaining high production capacity [3]. - The market in South China has stabilized after a brief price increase due to supply-demand tightness, with module prices for brand customers remaining stable [3]. Group 2: LTPS Panels - LTPS panels are benefiting from rapid growth in the automotive display market, with major manufacturers like BOE and Tianma maintaining full production capacity, expected to continue until the end of 2025 [3]. - However, in the smartphone sector, the trend of mid-to-high-end models shifting towards AMOLED is leading to weaker demand for LTPS panels, keeping prices at low and stable levels [3]. Group 3: AMOLED Panels - Domestic smartphone manufacturers are accelerating the shift to flexible AMOLED, resulting in a contraction in demand for rigid AMOLED [3]. - Samsung Display is implementing a proactive price reduction strategy to stimulate demand, but market feedback has been lukewarm, limiting the effectiveness of these price cuts [3]. - Some flexible AMOLED production lines have slightly reduced from full capacity, with expectations of moderate price adjustments in June to maintain operational levels, while a return to high capacity is anticipated in the third quarter as the traditional peak season approaches [3][4]. Group 4: Price Forecasts - CINNO Research predicts that a-Si panel prices will remain stable in June and July 2025, with LTPS and rigid AMOLED panel prices also expected to hold steady in the short term [4]. - Flexible AMOLED panel prices are anticipated to slightly decline in June but stabilize in the third quarter [4].

Core Viewpoint - The high-performance film industry in China is experiencing significant investment growth in Q1 2025, driven by downstream industries such as new displays and new energy [2][3][6]. Industry News Review - Multiple high-performance film projects are being planned and constructed, including projects by Xingyuan Materials, Chenlong Holdings, and others in various locations across China [2]. - In terms of financing and market expansion, companies like Fuyin New Materials and New Beauty Materials are actively engaging in mergers and acquisitions, while others are expanding production capacity [2]. - The investment amount in the high-performance film industry in China has increased year-on-year and month-on-month, with a focus on films for new display applications [3][6]. Industry Investment Trends - The investment amount in the high-performance film industry in mainland China has shown growth both year-on-year and month-on-month in Q1 2025, primarily concentrated in the new display film sector [6][8]. Industry Outlook - The global LCD display panel shipment area has increased year-on-year and month-on-month in Q1 2025, reaching a peak, which has boosted demand across the supply chain [8]. - Revenue for upstream high-performance film manufacturers has shown a mixed trend, with overall revenue declining year-on-year and month-on-month, while sales gross margins have increased [12]. - The global photovoltaic market is facing challenges, with supply-demand adjustments and structural differentiation, leading to pressure on the entire industry chain's profitability [15]. - The high-performance film industry is undergoing a transformation from policy-driven to technology-driven development, with a focus on quality and efficiency improvements [15].