Core Viewpoint - Yantai Jiumu Chemical Co., Ltd. has received approval for its IPO on September 18, 2025, indicating a significant step towards public listing and capital raising for its business expansion in OLED materials [2][3]. Company Overview - Established in 2005, Jiumu Chemical is a subsidiary of China Energy Conservation Investment Corporation, primarily engaged in the R&D, production, and sales of OLED front-end materials, including sublimation materials and intermediates [2]. - Major clients include Samsung SDI, Merck Group, and DuPont, with sales to Samsung SDI showing a growth trend due to its investments in high-generation OLED panel production lines [4][5]. Financial Performance - The company's revenue from 2022 to 2025 is projected to grow from 706 million yuan to 962 million yuan, with net profits after non-recurring items expected to increase from 197 million yuan to 246 million yuan [4]. - The revenue breakdown for the first quarter of 2025 shows that OLED sublimation materials accounted for 68.81% of total revenue, while intermediates contributed 26.66% [5]. IPO Details - Jiumu Chemical plans to raise 1.15 billion yuan through its IPO, with funds allocated to the "OLED Display Materials and Other Functional Materials Project (Phase II)" and a "R&D Center Project" [6][7]. - The Phase II project aims to enhance production capacity by adding 280 tons of OLED front-end materials, while the R&D center will focus on improving research capabilities and technological advancements [7]. Investment Allocation - The total investment for the OLED materials project is set at 1.5 billion yuan, with 1 billion yuan sourced from the IPO proceeds, while the R&D center project has a total investment of 200 million yuan, with 150 million yuan planned to be funded through the IPO [7][8].

Core Viewpoint - The article highlights the launch of a new high-end electronic chemical products project by Guangdong Tiancheng Chemical in Zhuhai Economic and Technological Development Zone, with a total investment of 250 million yuan, aimed at enhancing production capacity in the semiconductor and electronics sectors [2][4]. Company Overview - Tiancheng Technology, established in 2010, specializes in the research and production of functional wet electronic chemicals and was listed on the Sci-Tech Innovation Board in 2023 [4]. - The company focuses on chemical deposition, electrochemical deposition, and interface treatment technologies, with applications in electronic circuits, semiconductor packaging, displays, and new energy [4]. Project Details - The new project covers an area of approximately 25,500 square meters and is designed to produce 30,000 tons of high-end electronic chemicals annually, including products like plating additives and copper treatment agents [4]. - The project is expected to cater to industries such as integrated circuits, display panels, new energy, glass substrates, and PCBs [4]. Financial Performance - In the first half of the year, Tiancheng Technology reported revenue of 213 million yuan, a year-on-year increase of 23.4%, and a net profit attributable to shareholders of 36.73 million yuan, up 0.2% year-on-year [6]. - The company anticipates continued growth in PCB-related products driven by demand from computing power, high-speed communication, new energy vehicles, and ADAS [6]. Expansion Plans - The company is upgrading its Shanghai main base while constructing the Zhuhai production facility, with plans to increase PCB-related electronic chemical production capacity to 40,000 tons per year [6]. - An overseas factory in Thailand is also under construction, aimed at establishing a stable supply capability for the Southeast Asian market and further expanding global reach [6].

韩国媒体《金融新闻》9月15日报道，LG Display（LGD）正扩建位于京畿道坡州的AP4工厂产 线，以应对苹果iPhone OLED面板订单的增加。 报道指出，LGD上月成立了坡州AP4生产线扩建的专项小组（TF），AP4是LGD的第6代移动 OLED生产线，主要负责加工用于iPhone面板的薄膜晶体管（TFT）基板。早在2023年底，LGD 已将AP4工厂的月产能从3万片扩大至约4.5万片，如今时隔两年再次决定扩产。预计专项小组将 在本月完成设备选型，并从10月起陆续向设备合作伙伴下单。 【集邦Display显示产业交流群】 ▶ 关于集邦 扩建完成后，LGD预计将新增月产能1.5万片，使坡州AP4工厂的月产能达到6万片。今年6月， LGD董事会批准的1.26万亿韩元OLED投资计划，大部分也将投入AP4产线扩建。分析认为，该产 线最快将于明年开始量产，新增产能很可能用于明年下半年发布的下一代iPhone（iPhone 18系 列）。 图片来源：LGD 这一动作也令市场对LGD的业绩反弹寄予厚望。LGD今年第二季度录得1160亿韩元营业亏损，在 此前已连续两个季度实现盈利后，再次陷入亏损。不过，LGD已 ...

Core Insights - The global laptop market is showing signs of recovery despite geopolitical factors and tariff uncertainties, with a projected annual shipment increase of approximately 2.2% in 2023, surpassing 180 million units [2][6]. - Southeast Asia is emerging as a key manufacturing base for laptops, driven by investments from major brands like Dell and Apple, with Vietnam's production capacity expected to reach 13.5% of the global share by 2025 [5][6]. Group 1: Market Trends - The laptop market is benefiting from zero tariffs on Southeast Asian imports to the U.S., leading brands to increase shipments in anticipation of demand [2]. - The second quarter of 2023 saw a significant shipment increase of 9.5% due to factors such as U.S. tariff exemptions and a surge in demand from the Chinese market driven by subsidy policies [2]. - The third quarter is expected to maintain positive growth, with a projected quarter-on-quarter increase of 7.5% as brands and suppliers continue to support the market through subsidies [2]. Group 2: Regional Manufacturing Developments - Southeast Asia has become a primary production base outside of China, with Vietnam and Thailand leading the way in laptop manufacturing due to favorable policies and investments [5]. - Vietnam's laptop production capacity is anticipated to grow rapidly, reaching 13.5% of the global market share by 2025, supported by major manufacturers like Compal and Wistron [5]. - Thailand is also expanding its production capabilities, with a projected capacity share of 6.7% by 2025, driven by HP's initiatives and local government incentives [5]. - Other regions such as India, Indonesia, and Brazil are also seeing increased local manufacturing efforts, with an expected global capacity share of 3.7% by 2025 due to local production requirements [5].

Core Viewpoint - The article highlights the significant investment and development activities in the display technology sector, particularly in flexible display screens and semiconductor chips, as evidenced by recent project signings and production launches in Sichuan's high-tech zone [2]. Group 1: Investment and Project Developments - On September 16, a ceremony was held in Sichuan's Neijiang High-tech Zone to mark the launch of key projects for 2025 and the signing of third-quarter investment projects [2]. - Four companies, including Shenzhen Xiongfeng and Mingkesi, signed agreements to establish operations, while five projects, such as Dongwei Electronics and Hongying Technology, officially commenced production [2]. - The projects cover areas like flexible display screens, RF semiconductor chips, and high-performance sensor chips [2]. Group 2: Specific Company Highlights - Shenzhen Xiongfeng Investment Holdings' AMOLED and flexible display screen deep processing project received notable attention, with a previous investment yielding a production value of 1.7 billion yuan and tax revenue of 20 million yuan within two years [2]. - The company is making an additional investment of 500 million yuan to establish 40 new production lines for flexible display screens [2]. - Shenzhen Xiongfeng was founded in 2020 and primarily engages in software and information technology services, with a registered capital of 20 million yuan [2].

Core Viewpoint - Samsung Display is set to become the exclusive supplier of flexible OLED panels for Apple's upcoming foldable iPhone series, with an expected supply of 10 million panels for the year. The price of foldable OLED panels is approximately three times higher than traditional flat OLED panels, and it is anticipated that the price for Apple will be about 25% higher than previous supplies to Samsung Electronics' MX division. However, Apple plans to significantly reduce orders for flat OLED panels from Samsung Display by about 50%, shifting those orders to LG Display and BOE [2]. Group 1 - Samsung Display will supply 10 million flexible OLED panels for Apple's foldable iPhone series in 2024 [2] - The price of foldable OLED panels is expected to be about three times higher than traditional flat OLED panels [2] - Apple will reduce its orders for flat OLED panels from Samsung Display by approximately 50%, reallocating those orders to LG Display and BOE [2] Group 2 - Apple is shifting its sales strategy from emphasizing performance and differentiation among models to enhancing the performance of standard models, particularly with the iPhone 17 series [5] - The small OLED panel market is facing challenges as the profitability of these panels approaches its limits, necessitating a balance between acceptable pricing and minimum profit margins for manufacturers [5][6] - Korean display companies, including Samsung Display, are betting on CoE technology to create thinner, more efficient panels without relying on polarizers, which could enhance product competitiveness [6][7]

Core Viewpoint - Hanbo High-tech's subsidiary in Vietnam, Hanwei Technology, has officially opened, focusing on the intelligent production of backlight modules and liquid crystal display modules (LCM) [2][4]. Group 1: Company Overview - Hanwei Technology operates a factory in Bac Ninh, Vietnam, with plans to gradually enhance production capacity and industrial support [4]. - The factory aims to achieve full automation certification for backlight sources and LCM products by 2025, with a production capacity of 1,400K/M for backlight sources and 500K/M for LCM [4]. Group 2: Business Expansion - In July 2023, Hanbo High-tech announced the construction of a precision component base in Ho Chi Minh City, expected to start operations by the end of 2025, focusing on precision stamping and injection molding [5]. - The company is expanding its market in automotive backlight display modules, achieving significant growth in this sector [5]. Group 3: Financial Performance - In the first half of 2025, Hanbo High-tech reported revenue of 1.554 billion yuan, a year-on-year increase of 50.84%, while the net profit attributable to shareholders was -264.94 million yuan [5].

Core Viewpoint - The completion and production launch of Nitto's OLED polarizer production base in Chengdu, Sichuan, is expected to enhance the local supply chain and competitiveness of the new display industry in the region [2][3]. Group 1: Company Overview - Nitto Materials Technology (Chengdu) Co., Ltd. is a wholly-owned subsidiary of Nitto Denko Corporation, which operates in various fields including materials, electronic devices, displays, and medical sectors, with a leading position in polarizers and optical films globally [3]. - The company signed a contract to settle in the Chengdu Economic Development Zone in June 2017 and began production in March 2018, focusing on OLED optical films and E-Mask products [3]. Group 2: Project Details - The newly completed OLED polarizer production base project covers approximately 90 acres, with a factory construction area of 60,000 square meters, primarily producing OLED polarizers and large-size optical films [3]. - In 2024, the projected output value is expected to reach 1.49 billion RMB, representing an 8.4% year-on-year growth, while the output value for January to August 2025 is anticipated to be 1.03 billion RMB [3]. Group 3: Industry Impact - The establishment of the OLED polarizer production base is expected to increase the local supply rate and industry aggregation of Chengdu's new display industry, thereby enhancing the overall competitiveness of the regional industry [3]. - The first national 8.6-generation E-Mask optical protective film production line is set to commence production in February next year [4].

Core Viewpoint - OPPO is set to launch the Find X9 series smartphone featuring the world's first "1nit" eye-care display, developed in collaboration with Tianma, showcasing advanced screen technology and manufacturing capabilities [2][3]. Group 1: Product Features - The Find X9 series will utilize a custom screen from Tianma, built on OPPO's exclusive high-spec screen production line, alongside self-developed scientific production lines [2]. - The "明眸护眼屏" (Eye-Care Display) incorporates low-brightness high-precision circuits, new eye-care materials, and a new Display P3 chip, achieving full-scene true 1nit brightness, high-frequency PWM dimming, and a peak brightness of 3600nit [3]. - The development of this display took three years and involved significant costs, marking it as the most sincere eye-care screen in the Find X series [4]. Group 2: Comparison with Previous Models - The previous generation, Find X8/X8s, also featured screens supplied by Tianma, while the Find X8 Pro/X8 Ultra utilized BOE screens. The Find X8s had a 6.3-inch 1.5K flat display with 460 PPI, peak brightness of 1600nit, and support for 1.7 billion colors and adaptive refresh rates [6].

Core Viewpoint - The article highlights that ULVAC has won a bid to supply a sputtering machine for the MLED BP equipment upgrade and technical transformation project for Yuansheng Optoelectronics, a subsidiary of BOE Technology Group [2][5]. Company Overview - Yuansheng Optoelectronics is a wholly-owned subsidiary of BOE, operating the B6 factory in Inner Mongolia, which began operations in 2013 and is capable of producing 5.5-generation LCD and rigid OLED panels. The LCD panels are primarily used in automotive displays and medical devices, while OLED products focus on mobile devices [5]. - The sputtering machine is a Physical Vapor Deposition (PVD) device used to create thin films on substrates in a vacuum environment, essential for constructing circuits on the backplane (BP) of Mini and Micro LED chips [5]. Equipment Details - The specific equipment being supplied is the SMD-1500 sputtering machine, suitable for 5.5-generation glass substrates measuring 1300 mm x 1500 mm. Although the price of the equipment was not disclosed, it was previously reported that similar machines were sold for 490 million KRW each [6]. - This collaboration between ULVAC and BOE is not new, as they have a history of working together in the equipment supply sector. The current delivery of a single sputtering machine is likely aimed at performance validation for MLED BP production processes [6].