Group 1 - The core industry of Mianyang is new display technology, with an annual output value exceeding 90 billion yuan, featuring leading companies like BOE, Huike, and Changhong [1] - Mianyang is promoting innovation through mechanisms that enhance interaction between research institutions, universities, and industries to accelerate the development and application of new technologies and processes [1] - The new display industry in Mianyang has 31 large-scale enterprises, with plans to increase this number to over 40 by nurturing existing companies and attracting new ones [2] Group 2 - Companies like Sichuan Xinfurui Technology Development Co., Ltd. are focusing on reducing the thickness of heat dissipation films from 0.18 mm to 0.1 mm, which supports the development of thinner foldable screens [2] - Sichuan Hongke Innovation Technology Co., Ltd. leads in the domestic high-alumina cover glass market and is expanding into automotive displays, smart home devices, and AR applications [2] - A recent event called "Hundred Doctors in Fucheng" facilitated technical exchanges between experts from renowned institutions and local enterprises, aiming to align expert resources with real business needs [3] Group 3 - A new "Concept Verification Center" has been established in Mianyang to accelerate the transformation of innovative technologies into actual products, serving as a public service platform for industrialization [4] - The center aims to bridge laboratory results with marketable products, providing a low-cost and efficient testing ground for innovative materials and processes in the information display industry [4]

Core Viewpoint - The establishment of the first "Liyuan Manyuan" workstation for the electronic information industry in Chengdu High-tech Zone marks a new phase of operational and service normalization, aiming to enhance the integration of technological and industrial innovation for high-quality development in the electronic information sector [1] Group 1 - The workstation is a collaborative effort between Chengdu High-tech Zone and Chengdu Vocational and Technical College, designed to create an efficient platform for interaction among parks, schools, and enterprises [1] - The workstation will facilitate the collection and publication of six types of lists, including technology demand, talent training needs, and graduate supply, to effectively gather and match core elements such as policies, technology, talent, and capital [2] - The collaboration with companies will promote "order-based" talent cultivation, teacher enterprise practice, and engineer-in-school teaching initiatives, exploring the establishment of a training base group [2] Group 2 - Chengdu Vocational and Technical College has established partnerships with major enterprises like BOE Technology Group and Yicheng Technology, offering 40 specialized programs aligned with key industries such as electronic information and cultural tourism [1] - The Chengdu High-tech Zone, recognized as one of the first national high-tech zones, has developed a cluster of advantages in industries like integrated circuits, new displays, and smart terminals, which the workstation aims to leverage for resource matching and efficient integration [1]

Core Viewpoint - BOE is enhancing its capacity in the MLED sector through a project involving the upgrade and technical transformation of its existing production lines, as disclosed by the Ordos City Ecological Environment Bureau [2][10]. Group 1: Project Overview - The total investment for the MLED project is approximately 186 million yuan, covering an area of 1,125 square meters, with plans to add new processes such as via etching, copper plating, and copper etching [4]. - The project aims to increase the monthly input of array glass substrates by 6,000 pieces for MLED production, while maintaining the existing capacity for LTPS TFT-LCD at 68,000 pieces per month [4][9]. - The project is expected to yield a maximum output of 1.44 million MLED products annually, although the specific product specifications remain uncertain [9]. Group 2: Strategic Importance - The MLED business is a core part of BOE's "1+4+n ecosystem" strategy, with MLED revenue reaching approximately 4.347 billion yuan in the first half of 2025, accounting for 4.29% of total revenue [10]. - The MLED sector is rapidly developing, with Mini LED competing in the high-end TV and display markets, while Micro LED shows potential in large displays and wearable devices [10]. Group 3: Technological Advancements - The Ordos production line is based on LTPS technology, which supports the implementation of COG (Chip-on-Glass) technology, known for its high-quality display capabilities [13]. - COG technology is considered a high-barrier process but offers significant advantages in terms of brightness, thinness, flatness, lightness, and smoothness, making it suitable for various high-end applications [13]. - BOE has launched multiple generations of COG products, with recent advancements in Micro LED HUD applications, indicating a growing market potential [13][14]. Group 4: Future Outlook - With the technical upgrades at the Ordos production line, BOE is expected to enhance its market penetration of glass-based MLED products in high-end commercial displays, automotive HUDs, and consumer electronics [14].

Core Points - The "Medical Road with Me" emergency rescue volunteer service event was successfully held in Beijing's Yizhuang Economic and Technological Development Zone, enhancing health management awareness and emergency rescue capabilities among local employees, community workers, and volunteers [1][3] - The event aligns with Beijing's public health development goals and addresses urgent community needs for improved emergency response capabilities [3] - The initiative has previously trained over 2,700 individuals and reached more than 4,000 community members through educational activities across various regions in China [3] Group 1 - The event was organized by multiple organizations, including the China Volunteer Service Foundation and Beijing Emergency Center, in collaboration with companies like BOE Technology Group [1][3] - A donation ceremony took place, where emergency rescue equipment such as Automated External Defibrillators (AEDs) and portable first aid kits were provided to local communities, alongside a specialized training program for medical personnel [4] - The event featured a demonstration of an emergency science popularization platform using virtual simulation, showcasing advanced educational techniques for emergency response [7] Group 2 - Medical experts from various hospitals conducted systematic training for over 130 participants, covering essential skills like CPR and trauma emergency management, with all participants successfully passing assessments [7] - The initiative aims to establish a "minute-level" emergency response network in Yizhuang, reflecting the commitment of technology companies to social responsibility and public health planning [7]

Group 1 - The executive director, Lu Bozhi, reduced his holdings in BOE Technology Group Co., Ltd. (00710) by 40,000 shares at a price of HKD 5.066 per share, totaling approximately HKD 202,600 [1] - After the reduction, the latest number of shares held by Lu Bozhi is 106,100, representing a holding percentage of 0.01% [1]

Market Performance - The Hong Kong stock market experienced a strong upward trend on December 12, with the Hang Seng Index rising by 446.28 points, or 1.75%, closing at 25,976.79 points [1] - The Hang Seng Tech Index increased by 103.46 points, or 1.87%, closing at 5,638.05 points [1] - The China Enterprises Index rose by 145.07 points, or 1.62%, closing at 9,079.35 points [1] - The Red Chip Index gained 47.77 points, or 1.16%, closing at 4,150.4 points [1] Sector Performance - Technology stocks saw significant gains, with NetEase rising over 4%, and Tencent, Alibaba, and Lenovo increasing by over 2% [1] - Power equipment stocks surged, with Dongfang Electric rising over 13% [1] - Gold stocks generally rose, with Zijin Mining International increasing by over 3% [1] - Chinese brokerage stocks saw a late rally, with China Galaxy rising over 6% [1] - Insurance stocks strengthened in the afternoon, with China Pacific Insurance and China Life both rising over 5% [1] - AIGC concept stocks and real estate blue-chip stocks also saw gains [1] - However, the Everbright system and tobacco stocks declined [1] Company News - Hong Kong Electronic Commerce reported a total merchandise transaction value of HKD 636 million in November, a year-on-year decrease of 7.4% [2] - BOE Technology Group signed a total product processing agreement with its Vietnam subsidiary [2] - China Galaxy completed the issuance of a short-term corporate bond worth 4 billion yuan [2] - Cloudy Technology plans to establish a joint venture focusing on innovative robotic solutions [3] - Cloudtop New Horizon signed a commercialization service agreement with Haisen Bio [3] - Peijia Medical's TaurusTrio transcatheter aortic valve system received approval from the National Medical Products Administration [3] - China Antibody's SM17 new drug research application was accepted by the National Medical Products Administration [4] - Hengyi Holdings plans to undergo capital restructuring and fundraising activities [5] Institutional Insights - GF Securities noted that the Hong Kong stock market is more sensitive to external risks, with potential rebounds expected in mid to late December and early January [6] - Dongwu Securities believes the market is still in a left-side phase, requiring patience for a rebound [6] - Everbright Securities indicated that while there is significant room for growth compared to previous bull markets, the current market may lack strong catalysts [6] - Guoxin Securities highlighted that the recent net inflow of southbound funds into the Hong Kong market exceeded 110 billion yuan in November, indicating strong liquidity and a willingness to invest at lower levels [6] - The forecast for the Hong Kong market in 2026 is expected to range between 30,000 and 32,000 points [6] Industry Trends - The ice and snow economy is emerging as a new growth point, encompassing ice and snow sports, tourism, equipment, and culture [7] - This sector is characterized by a long industrial chain, significant spillover effects, and high social benefits, contributing to regional economic development [7] - The increasing popularity of ice and snow sports and tourism is transforming "cold resources" into a "hot economy," leading to rapid growth in the ice and snow industry [7] - There is a recommendation to focus on ice and snow sports brands with marginal improvements and stable dividend-paying leading companies [7]

Core Viewpoint - The company has entered into a total product processing agreement with BOE Vietnam, allowing for the manufacturing of TFT/TP modules and other products from December 11, 2025, to December 31, 2027, on a non-exclusive basis [1] Group 1: Strategic Goals - The company's strategy focuses on improving local presence, product diversification, quality, market responsiveness, and cost competitiveness to enhance global sales [1] - The company is exploring the necessity of establishing overseas production capacity to meet diverse customer demands regarding cost, origin, and quality [1] Group 2: Operational Flexibility - The total product processing agreement allows the company to flexibly reduce risks associated with establishing production facilities in other geographical areas where it has less experience [2] - The company aims to utilize its assets effectively through this agreement, leveraging BOE Vietnam's immediate available capacity to enhance competitiveness [2] Group 3: Industry Position - BOE is recognized as a leading supplier of semiconductor display technology, products, and services, with extensive experience and over 90,000 patents, including expertise in artificial intelligence and the Internet of Things [1] - As a market leader, BOE is equipped with a streamlined supply chain and a robust research and development team, enabling it to provide professional services to effectively execute the company's development plans [1]

Core Viewpoint - The company has entered into a total product processing agreement with BOE Vietnam, allowing for the manufacturing of TFT/TP modules and other products from December 11, 2025, to December 31, 2027, on a non-exclusive basis [1] Group 1: Strategic Goals - The company's strategy focuses on improving local presence, product diversification, quality, market responsiveness, and cost competitiveness to enhance global sales [1] - The company is exploring the necessity of establishing overseas production capacity to meet diverse customer demands regarding cost, origin, and quality [1] Group 2: Operational Flexibility - The total product processing agreement allows the company to flexibly reduce risks associated with setting up production facilities in other geographical areas where the company has less experience [2] - The company aims to effectively utilize its assets through this agreement, leveraging BOE Vietnam's immediate available capacity to enhance competitiveness [2] Group 3: Industry Position - BOE is recognized as a leading supplier of semiconductor display technology, products, and services, with extensive experience and over 90,000 patents, including expertise in artificial intelligence and the Internet of Things [1] - As a market leader, BOE is equipped with a streamlined supply chain and a robust research and development team, enabling the company to effectively execute its development plans and capture business opportunities [1]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確性或完整性亦 不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚賴該等內容而引致的任 何損失承擔任何責任。 （於百慕達註冊成立之有限公司） （股份代號：710） 持續關連交易 – 總產品加工協議 總產品加工協議 於2025年12月11日，本公司與京東方越南訂立總產品加工協議，據此，本集團可於2025 年12月11日至2027年12月31日（包括首尾兩日）期間委聘京東方越南按非獨家基準提供 製造TFT/TP模組及其他產品之產品加工服務。 上市規則之涵義 京東方（香港）（京東方之全資附屬公司）為本公司主要股東，於本公告日期持有本公 司已發行股本約53.02%。京東方為京東方（香港）之聯繫人。據此，京東方越南為京東 方的全資附屬公司及京東方（香港）之聯繫人，因此為上市規則項下本公司之關連人 士。因此，根據上市規則第14A章，總產品加工協議項下擬進行的交易均構成本公司之 持續關連交易。 根據按上市規則第14.07條所計算之適用百分比率，總產品加工協議項下擬進行的交易 均須遵守上市規則第14A章項下的申報、公告及年度審 ...

Core Viewpoint - The commencement of the R&D center and integrated manufacturing base for display applications by Ruhe Technology in Hefei High-tech Zone marks a significant step in the company's strategic layout in the display application field, injecting strong momentum into the development of the manufacturing industry and technological innovation in this sector [1][5]. Group 1: Project Overview - The project is located at the southwest corner of Yanzhe River Road and Tiantangzhai Road in Hefei High-tech Zone, covering an area of 34 acres with a total investment of 1 billion yuan [3][7]. - It will focus on the R&D and production of automotive display modules and optical silicone materials, with an expected annual output of 3 million automotive display modules and 180 tons of optical silicone materials upon reaching full production [3][7]. - The project is projected to generate an annual output value exceeding 1.2 billion yuan, significantly enhancing the competitiveness of the new energy vehicle industry cluster in Hefei High-tech Zone [3][7]. Group 2: Company Background - Ruhe Technology, established in July 2020, is a subsidiary of BOE Precision Electronics and serves as a crucial support for BOE's innovative business in high-end automotive clients and various vertical segments of the industrial display market [3][7]. - The chairman of BOE Precision Electronics and Ruhe Technology, Su Ning, stated that the base represents not only an expansion of capacity but also an enhancement of innovation capabilities, aiming to become an important platform for cutting-edge technology R&D, high-end product manufacturing, and comprehensive solution applications [3][7]. Group 3: Future Development - The R&D center will focus on the research and incubation of display-related technologies, while the integrated manufacturing base will feature highly automated and intelligent production lines, significantly improving the company's customized production and rapid delivery capabilities in commercial display, automotive, and industrial control sectors [3][7]. - Once fully operational, the project is expected to become the core engine for the future development of Ruhe Technology [3][7].