Core Viewpoint - AUO has made significant operational and structural adjustments in response to the stabilizing panel market, focusing on optimizing product mix and enhancing automotive and industrial panel layouts [1][4]. Group 1: Operational and Structural Adjustments - AUO has introduced multi-screen designs and improved integration in automotive displays, which has contributed to an increase in high-end product proportion and monthly revenue recovery [1]. - The company is closely monitoring brand customer order patterns and global end-market demand fluctuations [1]. Group 2: Digital Transformation and Efficiency - AUO has been undergoing a seven-year digital transformation, enhancing production efficiency by 44% since 2018 and saving over 11 billion in manufacturing costs [3]. - The company aims for a 4.7% reduction in electricity consumption by 2024, demonstrating significant carbon reduction achievements [3]. - AUO's subsidiary, AUO Display Plus, has signed an MOU with a shoe manufacturing company to implement AI-assisted behavior analysis for improved process monitoring and quality consistency [3]. Group 3: Green Transition and Carbon Management - AUO is actively promoting energy efficiency and circular economy measures, with improvements in Scope 2 and Scope 3 carbon management, achieving an 11.88% reduction in Scope 3 emissions compared to the baseline year of 2021 [3]. - The company is accelerating its circular economy goals through the use of recycled materials and green manufacturing strategies, leading to related economic benefits [3]. Group 4: Emerging Growth in Medical Sector - The medical segment has become a new growth driver for AUO, with revenue reaching the hundred billion level, supported by existing display and sensing technologies [4]. - The company is expanding applications in clinical and educational settings through 3D microsurgery imaging and AI integration solutions [4]. Group 5: Revenue Performance - AUO reported a consolidated revenue of 24.036 billion (approximately 5.451 billion RMB) for November, reflecting a month-on-month increase of 14.92% and a year-on-year growth of 3.35% [4]. - Cumulative consolidated revenue for the first 11 months reached 256.198 billion (approximately 58.106 billion RMB), with a year-on-year increase of 0.2% [4]. Group 6: Market Observations - Industry observations indicate a potential stabilization in TV panel prices in December, which could impact AUO's operations in the upcoming quarter if prices stop declining and maintain stability [4].

Group 1 - TrendForce predicts that TV panel prices will stop declining in December, while monitor panel prices are expected to remain stable, and some laptop panel prices may decrease [1][2] - Innolux's chairman, Hong Jin-yang, mentioned that the fourth quarter is traditionally a slow season, and there are ongoing efforts regarding the anticipated price increases for the first quarter of next year [1][3] - Innolux reported a consolidated revenue of NT$171.24 billion (approximately RMB 38.84 billion) for November, a decrease of 6% month-over-month and 9% year-over-year, with a cumulative revenue of NT$2,053.14 billion (approximately RMB 465.65 billion) for the first eleven months of the year, reflecting a year-over-year increase of 3.4% [3] Group 2 - The company anticipates a decline in shipments of non-display, commercial display, and consumer display products by 1% to 3% in the fourth quarter due to the traditional off-season and economic uncertainties [3] - Innolux is committed to dynamically adjusting its product mix and improving operational efficiency in response to market changes, while also focusing on a dual-track transformation strategy to deepen its layout in non-display sectors [3]

Core Viewpoint - Lens Technology plans to acquire 100% equity of PMG International Co., LTD. through cash and other legal means, with specific transaction amounts and methods to be determined after due diligence and evaluation [1][4]. Group 1: Agreement Signing - The equity acquisition intention agreement was signed on December 10, 2025, in Hong Kong, between Lens Technology (Party A) and Leu Song-Show (Party B) [4]. - The specific transaction amount and plan will be negotiated further based on the results of due diligence, audit, and evaluation [4]. Group 2: Business Implications - PMG International Co., LTD. and its subsidiary, Yuan Shi Technology (Zhejiang) Co., Ltd., possess complete capabilities for specific customer server cabinet businesses, including necessary supplier qualifications, technology, intellectual property, R&D and business teams, production capacity, and facilities [5]. - The acquisition will enable Lens Technology to quickly gain mature technology and customer certifications in the server cabinet business, enhancing its core competitiveness in AI computing hardware solutions and facilitating its transformation into a global AI hardware innovation platform [5]. Group 3: Company Background - Lens Technology is an ODM company specializing in glass covers for smartphones and protective components for smart vehicles, serving major clients such as Apple and Tesla [5]. - The company has also been expanding into emerging smart terminal fields, including humanoid robots and AI glasses/XR headsets, providing comprehensive services from frames and lenses to complete assembly [5].

Core Viewpoint - The article highlights the upcoming CES 2026 as a pivotal moment for RGB LED backlight technology, with major companies like Samsung, Sony, and Huike launching new products aimed at mainstream markets, thereby expanding the application of this technology beyond traditional high-end models [4][15]. Group 1: Product Launches and Specifications - Samsung plans to showcase its Micro RGB TV series at CES 2026, targeting mainstream price points with sizes including 65, 75, 85, and 98 inches, while maintaining a price control strategy similar to its Neo QLED series [5][13]. - Huike will debut the world's first RGB Mini LED display at CES 2026, emphasizing color performance as a key selling point, although specific specifications have not yet been disclosed [5][9]. - Sony is set to release the new Bravia 7 II and Bravia 9 II Mini LED TV series in early 2026, with the Bravia 9 II series featuring True RGB technology and sizes ranging from 75 to 98 inches [8][9]. Group 2: Competitive Landscape - The competition in the RGB LED TV market is intensifying, with companies like TCL and Hisense also launching their products, including the Q10M Ultra and various models in the U series, which will cover sizes from 55 to 100 inches [9][10]. - The article notes that the RGB Mini LED TV sizes have been reduced to 65 and 75 inches, which is expected to enhance sales in the consumer market [10][13]. Group 3: Pricing Trends - During promotional events, the prices of 65-inch RGB Mini LED TVs were observed to be lower than those of 65-inch OLED TVs, indicating a competitive pricing advantage for RGB Mini LED technology [13][15]. - The pricing strategy aims to make RGB Mini LED TVs more accessible, with 75-inch models priced lower than 77-inch OLEDs, and 85-inch models priced lower than 83-inch OLEDs [13][15]. Group 4: Future Outlook - CES 2026 is anticipated to be a turning point for RGB LED backlight technology, with major brands pushing for technological advancements and broader market penetration through mainstream product offerings [15]. - The introduction of Huike's RGB Mini LED display is expected to expand the technology's application from living rooms to desktop environments, enriching the ecosystem [15].

12月9日，珠海金湾公众号消息，近日珠海市聚顶科技有限公司（以下简称"聚顶科技"）正式开业 同时进入投产。 【集邦Display显示产业交流群】 显示器研究中心 关键零组件市场李度更新报告 图片来源：金湾发布 资料显示，聚顶科技聚焦于新能源汽车中控、3D曲面玻璃、折叠屏手机盖板及超薄柔性玻璃的研 发与制造。公司长期专注于2D、2.5D、3D曲面玻璃及超薄可折叠玻璃(UTG)等关键技术的开发， 产品已广泛应用于新能源汽车中控屏折叠显示设备、半导体载板等领域。 目前，聚顶科技已为特斯拉、宝马等汽车品牌提供玻璃盖板解决方案。此外，聚顶科技持续推进 技术研发，开发出首款环形手表显示屏玻璃。 今年7月，聚顶科技正式签约珠海金湾，落户金帆科技园，项目总投资1100万元，建筑面积 7070.39㎡。当前，聚顶科技珠海项目已形成规模化生产体系，具备每月承接约300万元订单的交 付能力，待项目全面达产后，预计年营业收入可达1.25亿元。(来源：珠海金湾公众号、集邦 Display整理） Report format>Excel . Update frequency>Quarterly . Manufacturer surveye ...

Core Viewpoint - Samsung Display has signed orders with major OLED equipment companies, including Canon Tokki, and plans to fully install equipment starting next year to achieve stable mass production [1]. Group 1: Samsung Display and Canon Tokki - Samsung Display has confirmed the purchase of Canon Tokki's evaporation equipment, with each unit valued at approximately 1 trillion KRW (around 4.8 billion RMB) [1]. - The decision to order from Canon Tokki is attributed to the stability of its equipment in the 6th generation OLED panel production process, which has gained favor from Apple, Samsung Display's largest customer [1]. Group 2: Market Dynamics and Competition - OLED evaporation is a process that forms the light-emitting layer on glass substrates by heating organic materials, making evaporation machines critical for manufacturing OLED display pixels [4]. - Canon Tokki has maintained a dominant position in the OLED evaporation machine market, with nearly all mainstream 6th generation OLED production lines globally utilizing its equipment [4]. - As the OLED production line transitions from 6th to 8.6th generation, there are concerns about whether Canon Tokki can maintain its global leadership in the 8.6th generation evaporation machine market [4]. - Companies like Sunic System, which has established a solid partnership with BOE, are gaining traction, and if BOE successfully achieves mass production of the challenging "dual-stack tandem" OLED panels next year, Sunic System's market position will be further solidified [5]. Group 3: Impact of Chinese Display Companies - Other Chinese display companies, such as Visionox and TCL Huaxing, are also advancing investments in 8.6th generation production lines, which could influence the competitive landscape between Canon Tokki and Sunic System [5]. - The eventual decision of these companies regarding which supplier to choose for core equipment, such as evaporation machines, will be a key factor in determining the future market positions of these equipment manufacturers [5].

12月9日，据泰合资本消息，北京通嘉宏瑞科技有限公司（以下简称"通嘉宏瑞"）于近日正式完成 B+轮投资，累计融资金额超10亿元，由北京新材料基金、达晨资本、武创投、富阳产投、交银投 资、中车资本、未来资产、东瑞资本等参投。 本次融资资金将用于持续迭代真空系统解决方案，从单一产品供应商向平台级真空系统解决方案 提供商转型。 资料显示，通嘉宏瑞成立于2012年，专注于半导体级真空泵及配套真空系统研发、生产与服务。 公司目前在北京、江苏、浙江、陕西、上海、河北、深圳均有生产基地，厂区面积超60000平方 米。 ▶ 关于集邦 上下滑动查看 #京东方 #TCL华星 #显示设备 参投机构表示，本次投资旨在进一步支持通嘉宏瑞加强技术研发、扩大产能规模，助力我国在半 导体关键零部件领域实现更高水平的自主可控，为高端制造业的高质量发展注入强劲动能。（集 邦Display整理） 【集邦Display显示产业交流群】 = TrendForce 显示器研究中心 AMOLED产业链报告 ● 技术及市场现状 ● 面板出货追踪 ● 整机出货量及预测 图片来源： 通嘉宏瑞 消息称，在显示面板领域中，公司是国内唯一量产出货的国产品牌，与京东方 ...

Core Viewpoint - The article discusses the recent IPO progress of two suppliers of BOE Technology Group, namely Yulong Optoelectronics and Huigu New Materials, highlighting their financial performance and future plans for fundraising through public offerings [1][6]. Group 1: Yulong Optoelectronics - Yulong Optoelectronics has received approval for its IPO application on the Shenzhen Stock Exchange, aiming to raise 1 billion yuan [2][3]. - The company focuses on the development, production, and sales of intelligent control cards and precision functional devices for new semiconductor display panels, with applications in consumer electronics such as tablets, laptops, monitors, and TVs [3]. - Financial data shows steady growth in revenue from 749 million yuan in 2022 to an expected 1.095 billion yuan in 2024, with net profit increasing from approximately 66.84 million yuan to 121 million yuan during the same period [4]. - The company has a high customer concentration risk, with its largest client, BOE, accounting for over 53% of its revenue in recent years [4]. Group 2: Huigu New Materials - Huigu New Materials is set to have its IPO reviewed on December 9, 2025, with a focus on functional coating materials for various applications [6][8]. - The company reported revenue growth from 664 million yuan in 2022 to 817 million yuan in 2024, with a significant increase in net profit from approximately 26.84 million yuan to 142 million yuan [8]. - Huigu New Materials has successfully broken foreign monopolies in several segments, particularly in the electronic field, and has established partnerships with major clients like BOE and TCL [8]. - The company plans to raise funds for expanding production capacity and enhancing R&D capabilities, with a total investment of approximately 919 million yuan for various projects [9].

Core Viewpoint - The revenue performance of Taiwanese panel manufacturers in November 2025 shows a mixed trend, with some companies experiencing growth while others continue to face challenges. [1][2] Revenue Summary - AUO reported a revenue of RMB 5.451 billion in November, with a year-on-year increase of 3.35% and a month-on-month increase of 14.92% [1][2] - Innolux's revenue fell to RMB 3.884 billion, down 8.95% year-on-year and 5.95% month-on-month, indicating increased market pressure [1][2] - HannStar's revenue rose to RMB 215 million, reflecting a year-on-year growth of 10.72% and a month-on-month increase of 6.60% [1][2] - Lianjia's revenue decreased to RMB 164 million, with a year-on-year decline of 5.99% and a slight month-on-month increase [1][2] - Ralco's revenue reached RMB 43 million, showing a significant year-on-year growth of 21.39% [1][2] Market Dynamics - The revenue changes in November indicate a market recovery and differentiation among companies, contrasting with the overall decline seen in October [1][2] - The small and medium-sized market is showing signs of recovery, with HannStar and Lianjia experiencing slight improvements [2] Company Developments - AUO is actively engaged in technology innovation and business integration, collaborating with various partners to develop new systems and optimize operations [3][4] - Ralco is considering acquiring a stake in Anke Optoelectronics, focusing on technology and business collaboration [5] Future Outlook - The fourth quarter is typically a slow season for the panel industry, but demand for TV panels remains stable, with expectations of price stabilization in December [6] - The anticipated price increases in panel products are expected to positively impact company revenues, particularly for AUO and Ralco [6]

Core Viewpoint - Nanjing Yunguang Technology Co., Ltd. has completed its Series A financing round, which will primarily be used for the construction of a new 12-inch silicon-based OLED production line and the ongoing research and development of next-generation near-eye display products, accelerating the company's transition to large-scale production and global competition [1]. Group 1: Company Overview - Yunguang Technology specializes in near-eye display technology solutions, focusing on the independent research, manufacturing, and sales of silicon-based micro-displays, with full-stack capabilities from driver chip design to mass production of micro-OLED panels [4]. - The company's silicon-based OLED series products have entered mass production, covering sizes from 0.13 to 1.32 inches, applicable in AI+AR, AR, and VR/MR fields [4]. Group 2: Production Capacity and Financing - The 8-inch silicon-based OLED production line was officially launched in April 2023, with an annual design capacity of 200,000 display modules and a monthly wafer production capacity of approximately 1,000 [4]. - Since 2023, Yunguang Technology has completed four rounds of financing, with the highest disclosed single-round financing amount reaching tens of millions of yuan [4]. Group 3: New Production Line and Future Capacity - With the completion of the latest financing round, the company has officially initiated the construction of a new 12-inch silicon-based OLED production line, which will have a planned building area of approximately 40,000 square meters, enhancing the full-process capabilities from driver chip design to silicon-based OLED panel manufacturing and module integration [5]. - Once completed, the new production line is expected to achieve an annual capacity of approximately 60,000 12-inch wafers, corresponding to the output of about 80 million 0.13-inch OLED micro-displays or about 4 million 1.32-inch micro-displays, supporting the annual demand for tens of millions of AI glasses and millions of VR/MR headsets, providing critical support for the large-scale industrialization of silicon-based OLEDs [6].