9月1日，TCL科技接受特定对象调研时表示， 公司近期与品牌客户联合开发笔电和显示器等中尺 寸产品，由于客户反馈积极，所以公司也正在推进将 TCL华星5.5代印刷OLED线（t12） 产能从 3K/月扩到9K/月。 TCL科技指出， 印刷OLED技术在投资成本、良率、材料利用率上有具备明显优势，产品轻薄化 有利于IT产品中OLED渗透率提高，但是从工艺和核心材料体系而言，印刷OLED与现存传统技术 路线有较大差异，后续公司将积极推进印刷OLED产业化进程。 据悉， 2024年底，t12已经实现了21吋医疗产品的小批量量产。 在今年5月举办的SID 2025展会 上，TCL华星表示，其印刷OLED产品线覆盖从6.5英寸手机显示到65英寸TV显示的全尺寸领域， 包含手机、平板、笔电、显示器等全形态产品，实现了OLED技术从中小尺寸到大尺寸的全场景覆 盖。 此外，投资者关系活动记录表显示，调研单位还询问了t9产线的最新经营情况。 TCL科技表示， t9产线从一期点亮爬坡到二期产能建设顺利，目前各类产品需求非常旺盛，因而 持续处于高稼动运行的状态 。 并且t9产品结构得到较好优化，目前TV及商显产品营收占比在 15% ...

Core Viewpoint - The research from the University of St Andrews indicates that the combination of holographic metasurfaces (HMs) and organic light-emitting diodes (OLEDs) could revolutionize the smart devices, communication, gaming, and entertainment industries by overcoming key challenges in holographic technology [1][2]. Group 1: Technology Overview - The study published in "Light: Science & Applications" presents a novel optoelectronic device that integrates holographic metasurfaces with OLEDs, simplifying the manufacturing process, reducing device size, and potentially lowering costs, thus facilitating broader application [1][2]. - OLEDs, widely used in mobile screens and some televisions, are thin-film devices that serve as planar light sources, showing promise in emerging fields like optical wireless communication and biosensing due to their high compatibility with other technologies [2]. - Holographic metasurfaces consist of "super-atoms" arranged in a thin planar array, each about one-thousandth the diameter of a human hair, designed to manipulate light properties for applications in data storage, anti-counterfeiting, optical displays, high numerical aperture lenses, and sensing [2]. Group 2: Research Breakthrough - This research marks the first instance of combining these two technologies to create foundational components for holographic displays, allowing for precise design of each "super-atom" to control light beam characteristics, effectively functioning as a pixel [4]. - The interference principle of light enables the creation of complex patterns, allowing pre-designed images to be displayed on the opposite side of the metasurface [4]. - The integration of OLED with metasurfaces opens new avenues for holography and light manipulation, potentially leading to significant advancements in virtual reality and augmented reality applications [4]. Group 3: Implications for Display Technology - Traditional OLED displays require thousands of pixels to render simple images, whereas this new method can project complete images using just one OLED pixel, enhancing the feasibility of compact, high-integration metasurface displays [4].

Core Viewpoint - TCL Technology announced a joint investment in a private equity fund focused on the ultra-high-definition video display industry, aiming to enhance technological advancements and the development of the display industry chain in Shenzhen [1][3]. Group 1: Investment Details - The total committed capital for the investment is 2 billion RMB, with TCL Technology contributing 600 million RMB, representing a 30% stake [3]. - The investment is in collaboration with Shenzhen Guidance Fund Investment Co., Ltd. and Shenzhen Guangming District Guidance Fund Investment Management Co., Ltd., with Ningbo Jiutian Matrix Investment Management Co., Ltd. managing the fund [1][3]. Group 2: Financial Performance - For the first half of the year, TCL Technology reported revenue of 85.56 billion RMB, a year-on-year increase of 6.65% [3]. - The net profit attributable to shareholders reached 1.883 billion RMB, showing a significant year-on-year growth of 89.26% [3]. - In the semiconductor display segment, TCL Huaxing achieved revenue of 50.43 billion RMB, up 14.4% year-on-year, with a net profit of 4.316 billion RMB, reflecting a 74.0% increase [3]. Group 3: Market Position - TCL Huaxing maintained a competitive edge in large-size products, with a market share of 24%, an increase of 4 percentage points year-on-year [3]. - The sales volume for various product categories showed substantial growth: monitor sales increased by 18%, notebook sales by 71%, automotive sales by 61%, mobile phone sales by 51%, and specialized display market sales saw significant growth [3].

Core Viewpoint - The article highlights the financial performance and growth prospects of several companies in the display technology and materials sector, emphasizing their revenue growth and profitability despite challenges in the market. Group 1: Company Performance - Shanshan Co., Ltd. achieved a revenue of 9.858 billion yuan, a year-on-year increase of 11.78%, and a net profit of 207 million yuan, a significant increase of 1,079.59% [2][3] - Huaxing Yunchuang reported a revenue of 915 million yuan, up 9.27% year-on-year, with a net profit of 78.52 million yuan, reflecting a growth of 152.40% [6][7] - Jingzhida's revenue reached 444 million yuan, marking a 22.68% increase, while its net profit was 31 million yuan, down 19.94% [9][10] - Kaisheng Technology recorded a revenue of 2.765 billion yuan, a 24.70% increase, and a net profit of 51.51 million yuan, up 23.70% [12][13] Group 2: Business Segments and Innovations - Shanshan Co., Ltd. focuses on lithium battery anode materials and polarizer business, with stable shipments of high-value products like OLED polarizers [4][5] - Huaxing Yunchuang specializes in testing equipment and solutions for LCD and OLED displays, benefiting from a mild recovery in the consumer electronics industry [6][8] - Jingzhida is engaged in semiconductor testing equipment, with significant growth in its semiconductor business, which saw a revenue increase of 376.52% [9][10][11] - Kaisheng Technology's display materials business is showing positive trends, with key projects in large-size displays and flexible glass materials [12][13]

Core Viewpoint - The PH2 project by Zhuhai BOE Crystal Core Technology Co., Ltd. aims to expand MLED COB packaging capacity, enhancing the company's manufacturing capabilities and market responsiveness in the high-end MLED display sector [2]. Summary by Sections Project Overview - The PH2 project has successfully moved its core processing equipment into the factory as of August 30 [1]. - The project is set to enter the equipment installation and debugging phase following the equipment's arrival [2]. Company Development - Zhuhai BOE Crystal Core Technology Co., Ltd. was officially registered in June 2024, with the project commencing construction in September 2024 [2]. - The project completed equipment relocation and began factory operations in December 2024 [2]. Production and Capacity - The COB products from the Zhuhai Crystal Core project were successfully lit up in January 2025, indicating readiness for larger-scale LED display production [2]. - The project has a total investment of approximately 1 billion yuan, with a factory area exceeding 40,000 square meters [2]. - The planned monthly production capacity for COB is expected to exceed 10,000 square meters, with over 95% automation throughout the production line [2].

Core Viewpoint - TCL Technology reported a revenue of 85.56 billion yuan for the first half of 2025, marking a year-on-year increase of 6.65%, and a net profit attributable to shareholders of 1.883 billion yuan, up 89.26% compared to the previous year [1][2]. Financial Performance - Revenue for the first half of 2025 was 85.56 billion yuan, compared to 80.22 billion yuan in the same period last year, reflecting a growth of 6.65% [2]. - Net profit attributable to shareholders reached 1.883 billion yuan, a significant increase of 89.26% from 995 million yuan in the previous year [2]. - The net profit excluding non-recurring gains was 1.559 billion yuan, up 178.96% from 559 million yuan [2]. - Operating cash flow increased by 115.90%, reaching 27.27 billion yuan compared to 12.63 billion yuan last year [2]. - Basic earnings per share rose to 0.1014 yuan, an increase of 89.53% from 0.0535 yuan [2]. - Total assets at the end of the reporting period were 400.47 billion yuan, up 5.87% from 378.25 billion yuan at the end of the previous year [2]. Business Segment Performance - The semiconductor display business generated revenue of 57.55 billion yuan, a year-on-year increase of 15.38%, with a gross margin of 20.30% [2]. - The new energy photovoltaic and other silicon materials business reported revenue of 13.40 billion yuan, down 17.36%, with a negative gross margin of 7.57% [2]. - The distribution business achieved revenue of 14.68 billion yuan, up 7.51%, with a gross margin of 3.38% [2]. Subsidiary Performance - TCL Huaxing reported revenue of 50.43 billion yuan, a 14.4% increase, with a net profit of 4.316 billion yuan, up 74.0% [3]. - TCL Zhonghuan recorded revenue of 13.40 billion yuan but reported a net loss of 4.836 billion yuan [3]. Strategic Developments - The company completed the acquisition of 100% equity in LG Display (China) and LG Display (Guangzhou), integrating them into a new entity named T11, with a production capacity of 180k/month [4]. - TCL Technology acquired a 21.53% stake in Shenzhen Huaxing Semiconductor Display Technology Co., which is expected to enhance net profit attributable to shareholders [5]. - The OLED business continued to grow, with sales increasing by 8.7% and revenue up by 9.2% [5]. Industry Context - Major panel manufacturers in mainland China have reported improved performance, with TCL Huaxing being the most profitable among them, achieving a net profit increase of over 70% [9]. - The overall industry environment is improving, with companies like TCL and BOE enhancing their market positions through strategic acquisitions and expansions [11][12].

Core Viewpoint - The article highlights the breakthrough of TCL Huaxing in the field of printed OLED technology, marking a significant shift in China's display industry from a follower to a leader on the global stage [3][5]. Group 1: Printed OLED Technology - TCL Huaxing has developed a full range of printed OLED products, covering sizes from 6.5 inches to 65 inches, and has achieved the highest number of patents in the printed OLED technology field globally [3][5]. - The company officially announced the mass production of printed OLED technology in 2024, positioning itself as the only manufacturer in the world to achieve this milestone [3][5]. - Printed OLED technology embodies the brand philosophy of APEX, focusing on providing a better display experience, trusted visual health, sustainable green production, and limitless future possibilities [3]. Group 2: Product Advantages - Printed OLED offers a consistent display experience across multiple screens, ensuring uniform color and quality [7]. - Compared to existing OLED products priced in the thousands to tens of thousands, printed OLED utilizes Real RGB arrangement to eliminate color fringing and provides a stable, wide color gamut even in low brightness modes [8]. - The technology incorporates a low blue light solution that effectively reduces harmful blue light exposure, enhancing eye comfort [8]. Group 3: Production Advantages - Printed OLED simplifies the production process compared to traditional vapor-deposited OLED, leading to reduced production costs and making high-quality displays more accessible [10]. - The technology achieves a 90% material utilization rate, significantly lowering production costs and promoting eco-friendly practices [10]. - By requiring less stringent vacuum conditions and utilizing low-temperature drying, printed OLED can save 300 to 400 million kilowatt-hours of electricity annually, enough to power a medium-sized city for 30 to 60 days [10]. Group 4: Industry Impact - The introduction of printed OLED is seen as a milestone for the global display industry, with TCL Huaxing defining a new technological route [11]. - The company aims to bridge the gap between consumers and cutting-edge display technology, enhancing public understanding of the development and benefits of high-quality displays [13].

Group 1: Northern Huachuang - Northern Huachuang achieved operating revenue of 16.142 billion yuan in the first half of 2025, a year-on-year increase of 29.51% [2][3] - The net profit attributable to shareholders was 3.208 billion yuan, reflecting a year-on-year growth of 14.97% [2][3] - The company focuses on the research, production, sales, and technical services of semiconductor basic products, including electronic process equipment and electronic components [4] Group 2: Deep Kangjia - Deep Kangjia reported operating revenue of 5.248 billion yuan in the first half of 2025, a decrease of 3.05% year-on-year [5][6] - The company incurred a net loss of 383 million yuan attributable to shareholders [5][6] - The consumer electronics business faced intensified competition and product mismatch with national subsidy policies, leading to losses [7] Group 3: Crystal Integration - Crystal Integration achieved operating revenue of 5.198 billion yuan in the first half of 2025, an increase of 18.21% year-on-year [8][10] - The net profit attributable to shareholders was 332 million yuan, marking a significant increase of 77.61% [8][10] - The company specializes in 12-inch wafer foundry services and has made progress in various technology platforms [11] Group 4: Weida Optoelectronics - Weida Optoelectronics reported operating revenue of 101 million yuan in the first half of 2025, a decrease of 7.25% year-on-year [12][13] - The net profit attributable to shareholders was 9.48 million yuan, down 39.78% [12][13] - The company is focused on the development and sales of polarizers and optical films for liquid crystal displays [14] Group 5: Landai Technology - Landai Technology achieved operating revenue of 1.751 billion yuan in the first half of 2025, a year-on-year increase of 8.32% [15][16] - The net profit attributable to shareholders was 109 million yuan, reflecting a growth of 61.56% [15][16] - The company is engaged in power transmission and touch display businesses, with a focus on automotive electronics and IoT devices [17]

Core Viewpoint - The company, Rainbow Co., has announced a capital increase of approximately RMB 10.50 billion to its subsidiary, Hongyang Display, to accelerate the construction of the G8.5+ substrate glass production line project in Xianyang, aligning with its long-term strategic development plan [1][3]. Financial Performance - For the first half of 2025, Rainbow Co. reported a revenue of RMB 5.67 billion, a decrease of 6.72% year-on-year [4]. - The net profit attributable to shareholders was RMB 451.63 million, down 50.69% compared to the same period last year [4]. - The total profit for the period was RMB 446.84 million, reflecting a decline of 50.93% year-on-year [4]. - The net cash flow from operating activities was RMB 2.02 billion, a decrease of 7.52% from the previous year [4]. - As of the end of the reporting period, the net assets attributable to shareholders were RMB 21.97 billion, an increase of 2.10% from the end of the previous year [4]. Project Development - Following the capital increase, the registered capital of Hongyang Display will rise from approximately RMB 38.19 billion to RMB 47.81 billion, with Rainbow Co.'s ownership increasing from 52.94% to 62.40% [3]. - The G8.5+ substrate glass production line project has a total planned investment of RMB 200 billion, with the first phase costing RMB 91 billion to build 8 hot-end furnaces and 4 cold-end production lines, aiming for an annual output of 5.82 million substrate glass pieces [3]. - The first production line is set to commence operations in October 2023, with plans to have 4 lines operational by the end of 2024 [3]. Strategic Focus - The company plans to implement a demand-driven production strategy in its LCD panel business, enhance product quality control, and deepen cooperation with key brand clients [4]. - In the substrate glass business, the company will continue to develop the Xianyang project and focus on high-generation and high-precision substrate glass production technologies [5].

Core Viewpoint - The collaboration between Anhui Qimen County Investment Promotion Bureau and Zhejiang Xinli Optoelectronics Technology Co., Ltd. marks a significant investment in the TFT display module and automotive electronics project, enhancing the local electronic information industry chain [1][3]. Group 1: Project Details - The investment agreement for the project amounts to 200 million yuan, with plans to establish production lines for display modules and automotive electronics, expected to commence production in November this year [2]. - Once fully operational, the project is anticipated to produce 150,000 new display modules annually, generating an annual output value of 200 million yuan [2]. Group 2: Industry Context - Xinli Optoelectronics specializes in the design, production, and sales of TFT LCD display modules, backlight modules, and multi-point capacitive touch screens [3]. - The investment agreement also includes a partnership with upstream company Vanzhuo Electronics Technology (Huizhou) Co., Ltd., which aims to enhance the electronic information industry chain in Qimen County by optimizing resource allocation and promoting collaborative development [3]. - In the first half of this year, another display module project was established in Anhui, with Anhui Yueda Automotive Display Technology Co., Ltd. planning to invest 100 million yuan to build an advanced manufacturing base for automotive intelligent displays, projected to achieve an annual output value of 200 million yuan upon completion [4].