Core Viewpoint - The recent performance reports from nine display-related companies indicate a mixed outlook, with some companies showing signs of recovery while others continue to face significant losses. Group 1: Company Performance - Shanshan Co., Ltd. expects a net profit of 400 million to 600 million yuan for 2025, marking a turnaround from losses in the previous year, driven by strong sales in its core anode materials and polarizer businesses [3][4]. - Longteng Optoelectronics anticipates a net loss of 193 million to 225 million yuan for 2025, citing a challenging market environment and increased competition in the small-sized display sector [5]. - Hehui Optoelectronics reported a total revenue of 550.07 million yuan for 2025, a 10.94% increase year-on-year, but still expects a net loss of 1.97 billion yuan, although this represents an improvement from the previous year's loss [6][8]. - AOC Technology forecasts a net loss of 630 million to 820 million yuan for 2025, with operational costs rising due to intensified competition and changes in the international trade environment [9][11]. - Weida Optoelectronics projects a net loss of 16 million to 20 million yuan for 2025, impacted by increased market competition and rising fixed costs from new production lines [12][13]. - Hanbo High-tech expects a net loss of 55 million to 90 million yuan for 2025, with increased manufacturing costs and depreciation affecting profitability [15][16]. - Jingce Electronics anticipates a net profit of 80 million to 90 million yuan for 2025, recovering from a loss of approximately 97.6 million yuan in the previous year, driven by growth in its semiconductor and display testing businesses [17][19]. - Chengzhi Co. predicts a net loss of 50 million to 100 million yuan for 2025, with a significant decline in profitability due to weak demand in the chemical sector [20][22]. - Honghe Technology expects a net profit of 50.5 million to 60.5 million yuan for 2025, but this represents a decline of 72.74% to 77.24% compared to the previous year, attributed to market fluctuations and increased costs [23][24].

Investment Rating - The report maintains an "Outperform" rating for the LCD industry [2] Core Viewpoints - The LCD industry is experiencing a stabilization in capacity, with a concentration of market share expected due to the shutdown and sale of production lines by overseas manufacturers. This is anticipated to enhance the pricing power of LCD TV panel producers, leading to improved profitability [6] - The report highlights the growth potential of leading domestic panel manufacturers like BOE Technology Group, which is well-positioned to benefit from China's consumption upgrade and localization trends [6] Market Performance Review - From December 2025 to January 2026, the panel index increased by 11.55%, outperforming major indices such as the Shanghai Composite and Shenzhen Component by 5.76 percentage points and 2.53 percentage points, respectively [4] - As of January 20, 2026, the total market capitalization of the A-share panel industry was 604.92 billion yuan, with an overall price-to-book ratio of 1.71x, positioned at the 82.5 percentile of the past five years [4][12] Price & Cost Analysis - In January 2026, the prices of various sizes of LCD TV panels increased, with 32, 43, 50, 55, and 65-inch panels priced at $34, $61, $92, $115, and $163 respectively, reflecting increases of 3.0%, 1.7%, 1.1%, 0.9%, and 0.6% month-over-month [19] - Omdia forecasts further price increases for February 2026, with expected prices of $36, $63, $94, $117, and $165 for the same sizes, indicating month-over-month increases of 5.9%, 3.3%, 2.2%, 1.7%, and 1.2% [19] Supply & Demand Dynamics - In December 2025, the global shipment area for large-sized LCD panels grew by 8.82% year-over-year, with notable increases in shipments for TVs (8.74%), monitors (4.44%), notebooks (13.27%), and tablets (21.30%) [5][27] - The report anticipates a 2.31% increase in global large-sized LCD capacity area in 2024 compared to 2023, with a slight growth forecast for 2025 [5] Performance Review - The global revenue for large-sized LCD panels in December 2025 reached $6.423 billion, marking a month-over-month increase of 15.52% and a year-over-year increase of 4.71% [57] - The report notes that BOE, TCL, and Huike experienced varying revenue growth rates in December 2025, with BOE's revenue at $1.6 billion, reflecting a month-over-month increase of 8.11% [60]

格隆汇1月30日丨龙腾光电(688055.SH)公布，预计公司2025年年度实现归属于母公司所有者的净利 润-22,500.00万元到-19,300.00万元。预计2025年年度实现归属于母公司所有者扣除非经常性损益后的净 利润-23,000.00万元到-19,800.00万元，与上年同期（法定披露数据）相比，亏损减少6.81%到19.78%。 报告期内，全球贸易环境、国际政治局势复杂多变，产业链加速重构，行业产能进一步释放，中小尺寸 显示领域竞争日趋激烈。面对市场严峻挑战，公司依托前瞻布局基础优势，紧抓新兴应用等市场机遇， 持续强化技术创新，大力优化产品结构，提升产品附加值，推动新型显示业务逐步放量；另一方面，稳 步推进海外产能建设，增强全球供应链协同能力；同时，持续深化提质增效工作，通过精益管理与成本 管控推动经营质量平稳发展。未来，公司将进一步推进战略升级与精细化管理，加强技术创新，注重产 品价值和品质提升，积极开拓市场，努力实现可持续高质量发展。 ...

证券代码：688055 证券简称：龙腾光电 公告编号：2026-003 一、本期业绩预告情况 （一）业绩预告期间 2025 年 1 月 1 日至 2025 年 12 月 31 日。 （二）业绩预告情况 昆山龙腾光电股份有限公司 2025 年年度业绩预告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈述 或者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 四、风险提示 本次业绩预告所载数据为公司财务部门初步核算，未经年度审计会计师事务 所审计。截至本公告披露日，公司尚未发现影响本次业绩预告内容准确性的重大 不确定因素。 经财务部门初步测算： 二、上年同期业绩情况和财务状况 公司 2024 年度利润总额：-25,192.68 万元，归属于母公司所有者的净利润： -19,031.87 万元，归属于母公司所有者的扣除非经常性损益的净利润：-24,681.34 万元；2024 年度基本每股收益：-0.057 元/股。 三、本期业绩变化的主要原因 1 报告期内，全球贸易环境、国际政治局势复杂多变，产业链加速重构，行业 产能进一步释放，中小尺寸显示领域竞争日趋激烈。面对市场严峻挑战，公司依 ...

证券日报网讯 1月23日，龙腾光电在互动平台回答投资者提问时表示，中小尺寸显示市场应用场景广泛 多样、技术路径多元，差异化发展趋势明显。面对近两年中小尺寸面板行业竞争白热化，公司将坚持以 差异化和高附加值为发展方向，一方面，依托现有技术积淀和客户资源，持续深耕巩固在笔电、车载等 核心领域的优势竞争力；另一方面，围绕电子纸、智能座舱、MiniLED、健康护眼、三维立体AI显示等 新兴显示方向，加快产品研发和市场拓展，培育新的增长动能；同时通过技术创新、全球化产能协同及 精细化管理，不断提升综合竞争力。 （编辑 任世碧） ...

（编辑 丛可心） 证券日报网讯 1月23日，龙腾光电在互动平台回答投资者提问时表示，公司聚焦中小尺寸液晶显示面板 领域，产品广泛应用于笔记本电脑、车载、工控、手机等终端，并持续布局电子纸、ESG显示、三维立 体显示等低功耗、护眼新型显示领域。公司全彩电子纸技术已实现研发设计、制程管控到批量生产的全 流程贯通，部分产品已率先实现量产出货；越南生产基地已进入量产爬坡阶段，逐步导入品牌客户项 目；未来，公司将依托市场拓展深化及多元客户导入，逐步提升创新业务对整体业绩的贡献度。 ...

证券日报网讯1月23日，龙腾光电在互动平台回答投资者提问时表示，公司已前瞻性布局全彩电子纸显 示技术，持续投入开展研发和产业化，已获得申请及授权专利超过80项，并开发多项不同规格的全彩电 子纸产品。其具备双稳态超低功耗、高反射率、超宽温适应性及无蓝光、无频闪等特性，兼具绿色环 保、护眼舒适等优势，部分产品已量产交付。其中11.6英寸新型彩色电子纸显示屏荣获DICEXPO(2025) 显示器件创新金奖。后续公司将持续完善电子纸产品体系，加快市场与客户拓展，积极寻求合适的产业 布局机会，稳步推进前沿显示业务发展。 ...

Core Viewpoint - The Sci-Tech Innovation 50 Index experienced a decline of 1.58% on January 20, closing at 1482.99 points, with a trading volume of approximately 97.76 billion yuan [1]. Group 1: Market Performance - The majority of stocks on the Sci-Tech Innovation Board fell, with 168 stocks rising and the average decline for 600 stocks being 1.19% [2]. - The average turnover rate for the stocks was 3.74%, with a total trading volume of 299.3 billion yuan and an average volatility of 5.18% [2]. Group 2: Sector Performance - Semiconductor and transportation equipment stocks showed active performance, while software services, biopharmaceuticals, and healthcare stocks had the largest declines [2]. Group 3: Individual Stock Performance - Zhongwei Semiconductor led the gainers with a rise of 19.99%, while Pinggao Co., Ltd. had the largest drop at 11.63% [3]. Group 4: Trading Volume - Cambricon Technologies had the highest trading volume at 11.95 billion yuan, while ST Pava had the lowest at 910.4 thousand yuan [4]. Group 5: Turnover Rate - Xinzhong Technology recorded the highest turnover rate at 22.82%, while Longteng Optoelectronics had the lowest at 0.23% [5].

Core Viewpoint - The resignation of core technical personnel, Mr. Lai Xinjie, will not adversely affect the company's intellectual property, technological research and development, core competitiveness, or ongoing operational capabilities [1][6]. Group 1: Personnel Change Details - Mr. Lai Xinjie has resigned from his position for personal reasons and will no longer hold any position within the company [1]. - As of the announcement date, Mr. Lai did not hold any shares in the company [3]. Group 2: R&D and Intellectual Property - Mr. Lai's responsibilities have been properly handed over, and his departure will not impact the progress and implementation of R&D projects [4]. - All intellectual property generated during Mr. Lai's tenure belongs to the company, with no disputes or potential disputes reported [4]. Group 3: Confidentiality Obligations - Mr. Lai is bound by confidentiality obligations regarding the company's trade secrets, and there have been no reported violations of these obligations as of the announcement date [5]. Group 4: Impact on the Company - The company emphasizes the importance of cultivating technical talent and has established a complete R&D system with a mature and professional team [6]. - Other key technical personnel remain unchanged, and Mr. Lai's departure will not have a substantial impact on the company's technological research and development or core competitiveness [6]. Group 5: Measures Taken by the Company - The company's R&D activities are progressing normally, with a complete technical R&D team structure and sufficient backup personnel [8]. - The company will continue to invest in R&D, enhance team building, and improve innovation capabilities to strengthen its core competitiveness [8].

Core Viewpoint - Longteng Optoelectronics announced the resignation of core technical personnel Mr. Lai Hsin-Chieh due to personal reasons, effective immediately, and he will no longer hold any position within the company [1][9]. Group 1: Core Personnel Information - Mr. Lai Hsin-Chieh is a Taiwanese national with a master's degree and has held various positions in notable companies, including CAD engineer and product development center deputy general manager at Longteng Optoelectronics [5][13]. Group 2: R&D Projects and Intellectual Property - Mr. Lai's responsibilities have been properly handed over, and his departure will not affect the progress of ongoing R&D projects. All intellectual property generated during his tenure belongs to the company, with no disputes or potential disputes reported [14]. Group 3: Confidentiality Obligations - Mr. Lai is bound by confidentiality agreements regarding the company's trade secrets, and there have been no reported violations of these obligations as of the announcement date [14]. Group 4: Impact of Personnel Change on the Company - The company emphasizes the importance of cultivating technical talent and has established a robust R&D system with a professional team capable of continuous innovation. The departure of Mr. Lai will not have a substantial impact on the company's R&D, core competitiveness, or ongoing operations [6][15].