格隆汇1月9日丨和辉光电(688538.SH)公布，集成电路基金长期看好公司的发展，但因自身经营资金需 要，计划通过大宗交易的方式减持其持有的公司股份数量合计不超过2.76亿股，合计减持比例不超过公 司总股本的 2.00%，上述减持自本公告披露之日起 15 个交易日之后的 60 日内(2026/2/2至2026/4/2)进 行。 ...

证券代码：688538 证券简称：和辉光电 公告编号：2026-001 上海和辉光电股份有限公司 关于持股 5%以上股东大宗交易减持股份计划公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 大股东持有股份的基本情况 截至本公告日，上海和辉光电股份有限公司（以下简称"公司"）的非第一 大股东上海集成电路产业投资基金股份有限公司（以下简称"集成电路基金"） 持有公司股份 1,334,443,762 股，占公司总股本 9.66%，股份来源均为公司首次 公开发行前取得的股份，并已于 2022 年 5 月 30 日解除限售并上市流通。 减持计划的主要内容 集成电路基金长期看好公司的发展，但因自身经营资金需要，计划通过大宗 交易的方式减持其持有的公司股份数量合计不超过 276,188,752 股，合计减持比 例不超过公司总股本的 2.00%，上述减持自本公告披露之日起 15 个交易日之后 的 60 日内（2026/2/2 至 2026/4/2）进行。 公司于近日收到集成电路基金出具的《关于减持公司股票计 ...

人民财讯1月9日电，和辉光电(688538)1月9日公告，上海集成电路产业投资基金股份有限公司(简称"集 成电路基金")计划通过大宗交易的方式减持其持有的公司股份数量合计不超过2.76亿股，合计减持比例 不超过公司总股本的2%。 ...

Core Viewpoint - The LCD demand is expected to improve by 2026 due to factors such as sports events, with leading manufacturers likely to drive supply-demand balance through production control [1][2] Group 1: LCD Market Outlook - The demand for LCD is anticipated to rebound, supported by major manufacturers maintaining production control to enhance supply-demand dynamics [1] - The upcoming FIFA World Cup and the continuation of trade-in policies in China are expected to boost demand for LCD TVs [1] - The average size of TV panels is projected to continue increasing, contributing to overall demand growth [2] Group 2: Supply Dynamics - Major panel manufacturers, including BOE, TCL Huaxing, and Huike, have achieved significant market share and are expected to continue production control, including reductions during the Lunar New Year [2] - According to TrendForce, TV panel prices are forecasted to rise by $1 across various sizes in January 2026 compared to the previous month [2] Group 3: OLED Market Potential - The potential demand for mid-size OLED panels is gaining attention, with expectations for significant cost reductions and increased penetration in laptops and tablets by 2026 [3] - Major manufacturers are optimistic about market demand, as evidenced by BOE's early activation of the first 8.6-generation AMOLED production line in China [3] Group 4: Domestic Manufacturers' Breakthroughs - Domestic manufacturers are accelerating technological breakthroughs in materials and driver chips, which may benefit from improving downstream demand [4] - New products in OLED materials are entering the market, and companies like Xiahe Technology are achieving commercial production of key materials [4] Group 5: Related Companies - Key panel manufacturers include TCL Technology (000100.SZ), BOE A (000725.SZ), and Rainbow Technology (600707.SH) [5] - Notable panel materials manufacturers are Lite-On Optoelectronics (688150.SH) and Ruvi Optoelectronics (688401.SH) [5]

Company Overview - Hehui Optoelectronics, established on October 29, 2012, focuses on the research, production, and sales of small and medium-sized AMOLED semiconductor display panels, with 97.16% of its revenue derived from this segment [1] - The company was listed on May 28, 2021, and currently has a market capitalization of 36.871 billion yuan [1] Stock Performance - As of December 31, Hehui Optoelectronics' stock price increased by 1.14% to 2.67 yuan per share, with a trading volume of 90.8474 million yuan and a turnover rate of 0.60% [1] Shareholder Information - ICBC Credit Suisse Fund has a presence among the top ten circulating shareholders of Hehui Optoelectronics, with the Science and Technology Innovation ETF (588050) reducing its holdings by 10.1242 million shares to 31.8988 million shares, representing 0.55% of the circulating shares [2] - The Science and Technology Innovation ETF has achieved a year-to-date return of 37.45% and a one-year return of 33.18%, ranking 1250 out of 4189 and 1338 out of 4188 respectively [2] Fund Management - The fund manager of the Science and Technology Innovation ETF is Zhao Xu, who has a tenure of 14 years and 79 days, managing a total fund size of 67.118 billion yuan [3] - During his tenure, the best fund return achieved was 216.92%, while the worst return was -84.87% [3]

Core Viewpoint - Hehui Optoelectronics is a leading domestic company focused on the research, production, and sales of high-resolution AMOLED panels, established in October 2012 [2] Company Overview - The company is recognized as a high-tech enterprise and has received honors such as the "Shanghai Intellectual Property Innovation Award" [2] - Hehui Optoelectronics operates two modern AMOLED production plants, the 4.5-generation and 6-generation plants, which began mass production of smartphone and wearable AMOLED semiconductor display panels in 2014 and 2015, respectively [2] - The company started mass production of its first tablet AMOLED semiconductor display panels in the second quarter of 2020 [2] Product Development - Hehui Optoelectronics continuously invests in new technology research and product innovation to produce a wider range of AMOLED display panels with higher specifications [2] - The company has developed over a hundred high-end rigid and flexible AMOLED display products for various applications, including smart wearables, smartphones, tablets, laptops, automotive, and aerospace [2] - The company has established stable supply relationships with numerous leading domestic and international brands [2]

Core Insights - The company emphasizes its commitment to independent research and innovation in AMOLED core technology, focusing on cutting-edge technology development and results transformation [2] Group 1: Technological Innovations - The company has applied several new technologies in its products, including Hybrid, Tandem, high-frequency PWM dimming, and 165Hz high refresh rate [2] - At CES 2025, the company showcased innovative products such as a 14-inch 2.8K Hybrid Tandem display, an 11.3-inch flexible LTPO Tandem display, and a 15.1-inch automotive Tandem display, which gained global attention [2] Group 2: Awards and Recognition - The company's 14-inch 2.8K 30~240Hz ultra-high dynamic refresh rate AMOLED display won the "13th China Electronic Information Expo Innovation Award" [2] - At the 2025 International (Shanghai) Display Technology and Application Innovation Exhibition, the company achieved notable success with one gold and four silver awards, including two 12.X-inch AMOLED tablet screens winning the "Display Application Innovation Gold Award" and "Display Device Innovation Silver Award" [2] - Other award-winning products include a 14.6-inch 3K primary color giant screen for laptops and a 14-inch 2.8K ultra-high dynamic refresh rate laptop screen, both receiving silver awards [2]

Core Viewpoint - Hehui Optoelectronics has made significant progress in its H-share listing application, which was recently accepted by the China Securities Regulatory Commission, and the company has submitted its application to the Hong Kong Stock Exchange for a mainboard listing, with CICC as the sole sponsor [1] Group 1: Financial Performance - Hehui Optoelectronics has reported continuous losses since its A-share listing in 2021, with a cumulative loss exceeding 135 billion yuan since 2017, including a total loss of 96.79 billion yuan from 2021 to the third quarter of 2025 [2][4] - The company's stock price has declined significantly since its peak on the first day of trading at 5.14 yuan per share, with the latest price nearly halving [2] Group 2: Industry Comparison - Compared to industry leaders BOE Technology Group and TCL Technology, which have reported cumulative profits of 638 billion yuan and 302 billion yuan respectively since 2017, Hehui Optoelectronics has struggled to achieve profitability [4] Group 3: Production Challenges - The sixth-generation AMOLED production line expansion project has faced multiple delays, with the completion date pushed from the end of 2023 to September 2026, impacting the company's ability to increase production capacity from 30K/month to 45K/month [6] - The project has a total investment of 6.5 billion yuan, with only part of the capacity having been realized so far, leading to negative overall gross margins and a competitive disadvantage in the high-end AMOLED market [6] Group 4: Human Resources and Shareholder Actions - The company has experienced the departure of key technical personnel, including two core members in 2025, which raises concerns about its operational capabilities [7] - Significant share reductions have occurred, with major shareholders and executives selling off shares, including a notable reduction by the Shanghai Integrated Circuit Industry Investment Fund, which sold 199 million shares, representing 1.45% of the total shares [7]

● 大股东持有股份的基本情况 本次减持计划实施前，上海和辉光电股份有限公司（以下简称"公司"）的非第一大股东上海集成电路产 业投资基金股份有限公司（以下简称"集成电路基金"）持有公司股份1,534,160,240股，占公司总股本 11.11%，股份来源均为公司首次公开发行前取得的股份，并已于2022年5月30日解除限售并上市流通。 证券代码：688538 证券简称：和辉光电 公告编号：2025-056 上海和辉光电股份有限公司 关于持股5%以上股东减持计划时间届满暨减持股份结果公告 本公司董事会、全体董事及相关股东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。 重要内容提示： 二、减持计划的实施结果 ● 减持计划的实施结果情况 公司于2025年8月28日在上海证券交易所网站（www.sse.com.cn）披露了《上海和辉光电股份有限公司 关于持股5%以上股东大宗交易减持股份计划公告》（公告编号：2025-045）。集成电路基金计划通过 大宗交易的方式减持其持有的公司股份数量合计不超过276,188,752股，合计减持比例不超过公司总股本 的2. ...

Core Viewpoint - The announcement from Hehui Optoelectronics indicates that the Shanghai Integrated Circuit Industry Investment Fund has reduced its stake in the company, reflecting a strategic shift in its investment position [1] Group 1: Shareholding Details - Before the reduction plan, the Integrated Circuit Fund held 1,534,160,240 shares, representing 11.11% of the total share capital of the company [1] - During the reduction period from September 18, 2025, to December 17, 2025, the fund sold a total of 199,716,478 shares through block trading, which accounts for 1.45% of the total shares [1] - After the reduction, the fund's remaining shares amount to 1,334,443,762, resulting in a new holding percentage of 9.66% [1]