Core Insights - Recently, Beijing Xulun Technology Co., Ltd. completed a strategic financing round exceeding 100 million yuan in A4 round [1] - The financing was led by Northern Huachuang Industrial Investment Fund and Novartis Strategic Investment, with A3 round led by Beijing Electric Control Industrial Investment Fund and Qianhai Ark Fund [1] - The funds will be used for the second phase of expansion of UV Tape/DAF product lines, semiconductor packaging material R&D, and upgrading customer delivery systems [1] Company Overview - Xulun Technology has a core team from top domestic and international universities and research institutions, with rich experience in materials science and chemical engineering [1] - The company focuses on developing high-end semiconductor adhesive films and tapes, starting from basic resins such as acrylic, epoxy, and organic silicon [1] Infrastructure and Operations - Xulun Technology has a 5,000 square meter application R&D center in Beijing and a pilot base with a thousand-level clean coating facility in Hebei [2] - The company also has semiconductor-grade precision coating production lines with thousand-level and hundred-level clean standards in Jiangsu, and warehouses and technical support subsidiaries in Shanghai, Suzhou, Shenzhen, and Chengdu [2] Product Applications - The products of Xulun Technology are applied in critical process scenarios such as wafer thinning, cutting, chip mounting and stacking, substrate interlayer and line insulation, wafer-level packaging, and 2.5D/3D packaging [2] - The company serves various fields including RF chips, computing power chips, storage chips, and HBM [2]

Core Viewpoint - The China Securities Regulatory Commission (CSRC) has approved the registration application for the initial public offering (IPO) of Shiya Technology Co., Ltd., allowing the company to proceed with its plans to list on the STAR Market, marking it as the first company in the A-share market to focus on silicon-based OLED technology [1][2]. Group 1 - Shiya Technology, established in 2016, specializes in silicon-based OLED micro-displays and optical systems, as well as XR overall solutions [2]. - The company plans to issue no more than 100 million new shares, with total fundraising expected to reach 2.015 billion yuan. Approximately 1.609 billion yuan will be allocated to expand the production line for ultra-high-resolution silicon-based OLED micro-displays, increasing the capacity to 10.8 million screens [2]. - An additional 406 million yuan will be invested in the construction of a research and development center, focusing on upgrading silicon-based OLED micro-display driver chips and new display technologies [2].

Core Viewpoint - The company, Lingju, reported a decline in revenue for December 2025, with a total revenue of 7.08 billion New Taiwan Dollars (approximately 156 million RMB), reflecting a month-over-month decrease of 1.81% and a year-over-year decrease of 10.62% [1]. Financial Performance - In Q4 2025, Lingju's revenue reached 21.28 billion New Taiwan Dollars (approximately 470 million RMB), showing a quarter-over-quarter decrease of 2.77% and a year-over-year decrease of 11.5% [1]. - The total revenue for the year 2025 was 85.96 billion New Taiwan Dollars (approximately 1.897 billion RMB), marking a year-over-year decline of 1.96% [1]. - In November 2025, the pre-tax net profit was 57 million New Taiwan Dollars (approximately 13 million RMB), with the same amount reported as post-tax profit [1]. Operational Insights - The first three quarters of 2025 were impacted by weak market demand, international tax issues, unfavorable product mix, and high costs [4]. - However, the operational performance in Q4 is expected to improve due to stable demand in industrial control and automotive sectors, along with an increase in the proportion of high-margin products [4]. - Although the company anticipates an overall loss for the year, the extent of the loss may narrow, indicating a positive adjustment in operational health [4]. Future Outlook - For 2026, Lingju expects only a moderate recovery in the market, focusing on industrial control and automotive sectors as the main growth drivers [4]. - The automotive demand is projected to remain stable, with applications such as rearview mirrors expected to contribute to growth [4]. - The company acknowledges that the recovery in consumer products remains uncertain and volatile, thus not prioritizing it for short-term growth [4]. - Key areas for development include medical applications and niche markets for small-sized panels, with two new medical products expected to start mass production in 2026 [5]. - Lingju plans to leverage its core panel technology to explore opportunities in backplane applications and advance low-power, reflective, and semi-transmissive technologies [5].

以下文章来源于TrendForce集邦 ，作者TrendForce TrendForce集邦 . TrendForce集邦咨询是一家全球高科技产业研究机构，研究领域横跨存储器、AI服务器、集成电路与半 导体、晶圆代工、显示面板、LED、AR/VR、新能源（含太阳能光伏、储能和电池）、AI机器人及汽车 科技等，提供前瞻性行业研究报告、产业分析 根据TrendForce集邦咨询最新智能手机研究，自2025年下半年起，手机市场面临存储器供给吃 紧、价格飙涨的双重压力，导致终端产品价格上调、需求转弱等连锁反应。尽管各品牌目前尚未 显著下修2026年第一季生产计划，但预估在此轮新机不堪成本压力而进行终端售价调涨的影响 下，品牌生产表现将于第二季开始明显走弱。 TrendForce集邦咨询表示，尽管各智能手机品牌对市场前景多持保守态度，部分品牌甚至开始着 手下修全年生产目标；然而，在存储器采购方面，各品牌并未同步缩减需求，仍以"锁定资源"为 优先策略，避免后续面临更高采购成本或更严峻的供给紧缩。 不过，部分品牌因2025年末冲刺生产与出货，加上中国市场补贴政策效益淡化、新机调价影响销 售等因素，成品库存正逐步垫高。若短期 ...

Core Viewpoint - The strategic partnership between Chenxian Optoelectronics and Chasing Smart Display aims to advance next-generation display technologies and high-end display products through collaborative efforts in technology research, product development, and market expansion [1][2]. Group 1: Partnership Details - The collaboration will focus on three main areas: joint innovation and engineering verification of next-generation display technologies, co-creation of display solutions for home audio-visual and high-end commercial display needs, and leveraging Chasing Smart Display's global channel resources alongside Chenxian Optoelectronics' manufacturing capabilities to implement these technologies in various applications [2]. - Chasing Technology, originally established with a focus on high-speed motors, has expanded its product lines to include smart cleaning appliances, personal care products, home appliances, robotics, automotive, and even aerospace [2]. Group 2: Product Development - Chasing Smart Display has launched a new smart audio-visual business unit and introduced products such as the Mini LED 4K AI TV V3000 series, X1 Ultra monitor, and PANO S2 soundbar, creating a comprehensive high-end audio-visual product lineup [2]. - Chenxian Optoelectronics has developed several innovative TFT glass-based Micro LED products, including the world's first mass-produced 135-inch P0.7 Micro LED splicing screen and the latest 8K TFT-based Micro LED display [3]. Group 3: Commercialization Efforts - With the maturation of Micro LED technology, Chenxian Optoelectronics is actively promoting the commercialization of its Micro LED technology through partnerships with companies like Lehman Optoelectronics, Qingdao Haier Multimedia, and AOC & Philips [5]. - The collaboration with Chasing Smart Display is expected to further accelerate the commercialization of Chenxian's LED display technologies [5].

Group 1 - The core viewpoint of the article highlights the recent developments in the display module industry in Zhejiang and Hubei, with significant investments and projects being initiated in these regions [1][5][8] - The Innovation Universe Intelligent Technology LCD display module project has been established in Jiaxing High-tech Zone, with a total investment of $100 million (approximately 697 million RMB) [2][5] - The first phase of the project involves an investment of $50 million, aiming to build multiple production lines for LCD display modules, with an expected annual output value of 600 million RMB upon reaching full production [5][6] Group 2 - Since May 2025, several display module projects have been launched in Jiaxing, with a cumulative investment of approximately 1.6 billion RMB [6] - The projects include the Zhongxian OLED high-definition display module project, which plans to produce 4 million OLED modules annually with a total investment of $100 million, and the Wanchuang intelligent display screen project, which expects an annual output value of 650 million RMB [6] - Additionally, a project by Zhejiang Qianyuan Optoelectronics aims to produce 800,000 LCD modules annually with a total investment of 200 million RMB, projecting an annual output value exceeding 500 million RMB [7] Group 3 - In Hubei, the Zhilian Terminal high-end display module production project is progressing as planned, with a total investment of 500 million RMB, aiming to produce 15 million consumer electronic LCD and flexible OLED modules annually [8][10] - The products from this project are intended for various applications, including new energy vehicles and smart home devices, with high-end products already being utilized in luxury models in collaboration with Huawei and Jianghuai Automobile [8][10] - The project is expected to foster the establishment of upstream material suppliers, contributing to the formation of a competitive display module industry cluster in Huangshi City [10]

Core Viewpoint - Samsung Display has officially started mass production of the 8.6-generation OLED panels, aiming to strengthen its position in the IT OLED market with plans to ship samples to customers this year [1][4]. Group 1: Production and Market Strategy - Samsung Display held a shipment ceremony on January 15, celebrating the successful operation of its 8.6-generation OLED production line [4]. - The company plans to begin trial operations in mid-2024 and officially ship samples by the end of the year, indicating a rapid response to capture the IT OLED market [4]. - Samsung Display's president stated that successful operation of the new production line is crucial, with expectations of a 20% to 30% increase in IT product sales this year [4]. Group 2: Competitive Landscape - The 8.6-generation OLED panels feature a glass substrate size that is 2.2 times larger than the current mainstream 6th generation, leading to significant improvements in production efficiency and cost reduction [4]. - Competitors such as BOE, Visionox, and TCL Huaxing are also investing in 8.6-generation OLED production lines, with BOE planning to invest 63 billion RMB in a new facility [5]. - Analysts suggest that if Samsung Display successfully achieves mass production of the 8.6-generation OLED, it will create a significant competitive advantage over rivals, especially as the transition from LCD to OLED accelerates in the market [5].

Core Viewpoint - The completion of the K3 factory's cleanroom renovation marks a significant milestone for the company, enabling large-scale manufacturing of high-end OLED modules, with the factory now in the equipment installation and trial production phase [1][3]. Group 1: K3 Factory Overview - The K3 factory, operated by Jiangxi Xinshi Technology Co., Ltd., has a total investment of 1 billion yuan and is being constructed in two phases: the first phase plans to produce 12 million flexible OLED modules annually with 2 fully automated production lines [3][4]. - The second phase will add the capacity to produce 2.5 million silicon-based OLED display modules per year, also equipped with 2 fully automated production lines [3][4]. - Once fully operational, the project is expected to generate an annual output value exceeding 1 billion yuan, focusing on high-end applications in VR/AR, automotive, and specialized displays [3][4]. Group 2: Product Features and Applications - The K3 factory will primarily produce OLED modules characterized by high resolution, high brightness, low power consumption, ultra-thin design, and long lifespan, targeting next-generation near-eye display devices [3][4]. - The products are intended for diverse application scenarios, including consumer electronics, smart wearables, and automotive displays [3][4]. Group 3: Future Developments - The factory will focus on process optimization and capacity enhancement, aiming to provide innovative display product solutions for global customers through technological advancements [4]. - Additionally, the company announced the successful lighting of its 12-inch Micro OLED production line (K2 project) in December 2025, with a total investment of 1.5 billion yuan and a planned monthly capacity of 4,000 12-inch wafers, primarily for AR/VR/MR applications [4]. - The company's K1 factory in Huainan, Anhui, was completed and put into production in April 2023, with a total investment of 100 million yuan, mainly producing silicon-based OLED micro-displays, flexible OLED smartphone screens, and automotive display modules, with an expected annual output value of 200 million yuan [4].

1月13日，乐凯胶片公告， 公司控股子公司乐凯光电计划使用自有资金投资建设TAC功能膜涂布 生产线项目，投资金额估算为 9,766.75万元 。 根据公告，该项目选址江苏省宿迁市宿城经济开发区西片区，规划建设精密涂布生产线1条，配套 新增工艺设备17台（套），包括进口设备3台（套）和国产设备14台（套）。项目主要产品为 TAC功能膜（防眩光硬化膜(AG)），设计产品最大幅宽1,540mm，生产车速30m/min，达产后 具备年产TAC功能膜1,800万平方米的生产能力。 据了解，TAC膜是LCD偏光片的关键组成部分。偏光片是LCD显示的核心元件之一，而TAC膜作 为偏光片的保护层，具有高透光率、低雾度和良好的耐候性，能保护内部的偏振膜（如PVA膜） 免受水分、紫外线和机械损伤，同时确保光线均匀透过，提升显示画面的清晰度和稳定性。 乐凯胶片表示， TAC功能膜属于TAC膜的下游产业，是TAC膜的进一步功能化处理，通过本项目 建设将延伸乐凯光电TAC膜产业链，促进TAC膜的品质完善和提高，进一步提升公司在偏光片光 学膜领域的总体实力与竞争能力。 资料显示，乐凯胶片主营方向为图像信息材料和新能源材料，旗下多家控股公 ...

Group 1 - The core viewpoint of the article is that Kairun Co., Ltd. has significantly increased its stake in Suzhou Jiazhi Optoelectronics Technology Co., Ltd. to 69%, enhancing its control over the company and marking its entry into the display industry [1][3]. Group 2 - In April 2025, Kairun Co., Ltd. acquired 51% of Jiazhi Optoelectronics for 483 million yuan, establishing a dual business model of "building waterproofing + display equipment" [1]. - In November 2025, Kairun Co., Ltd. announced an additional purchase of 18% of Jiazhi Optoelectronics for 171.60 million yuan, bringing its total ownership to 69% [3]. - The acquisition process was completed with the necessary business registration changes and the issuance of a new business license [3]. - Jiazhi Optoelectronics, founded in November 2017 with a registered capital of 12.5 million yuan, specializes in new display technologies and semiconductor testing systems [3]. - The company has been actively involved in projects for BOE Technology Group, providing essential equipment for display manufacturing [4].