Group 1: Storage Market Dynamics - The recent surge in storage prices and the volatility of related company stocks have drawn renewed attention to the industry chain [2] - The demand for HBM storage driven by AI development is squeezing DRAM production capacity, leading to increased costs for smartphones and PCs [2][8] - TrendForce has revised down its global smartphone and laptop production forecasts for 2026, projecting declines of 2% and 2.4% respectively [2][11] Group 2: Display Panel Industry Growth - Over the past two decades, China's display panel industry has transformed from dependency on imports to becoming the world's largest manufacturing base [3][4] - The domestic display supply chain is more stable and complete compared to storage chips, giving Chinese manufacturers greater control [3] - The market size of China's display panel industry reached 396.2 billion yuan, accounting for 68.2% of the global market [5] Group 3: OLED Technology Advancements - Chinese manufacturers are heavily investing in OLED technology, with companies like Tianma and BOE establishing advanced production lines [5][7] - By the first half of 2025, Chinese manufacturers are expected to hold a 51.7% share of the global AMOLED smartphone panel market [7] - The demand for AMOLED panels is rising, while LCD panels maintain stable shipments in entry-level markets [7][11] Group 4: Cost Pressures and Strategic Responses - The increase in storage chip prices is expected to raise the BOM cost of smartphones by approximately 5-7% next year [8][9] - The share of storage in laptop BOM costs is projected to exceed 20% by 2026, leading to potential price increases of 5-15% for laptops [9][11] - Manufacturers are adjusting their product strategies, potentially reducing screen quality in lower-end models to manage costs [11][12] Group 5: Collaboration and Innovation - Companies are moving towards deep collaboration with panel manufacturers, shifting from traditional supplier relationships to joint technology development [16][20] - Xiaomi has established joint laboratories with panel manufacturers to enhance the entire supply chain [20][21] - The shift towards a collaborative model is seen as essential for competing with global leaders like Apple and for driving innovation in the display industry [21]

以下文章来源于LEDinside ，作者Irving LEDinside . TrendForce集邦咨询旗下光电研究处。研究领域包括MicroLED、MiniLED、照明、显示屏、紫外线（UV LED）、红外线 (IR LED/VCSEL)、化合物半导体等，提供以上各领域的产业研究报告及资讯。 11月18日 ， 天马微电子 在湖北武汉举行 全球创新大会（TIC 2025） ，与显示产业上下游同仁 共同探索显示技术的未来。 其中，被誉为终极显示技术的Micro-LED将在未来显示行业占有重要地位。作为面板厂商的天 马，以前瞻性眼光率先通过玻璃基LTPS技术路线推动Micro-LED技术在大尺寸显示、车载显示、 透明显示、穿戴、AR等应用领域的发展。 尽管Micro-LED技术面临着不少产业化难题，但在TIC 2025大会上，天马与上游芯片厂商三安半 导体、研究机构TrendForce集邦科技等一众行业伙伴一致看好Micro-LED发展前景，认为 Micro-LED技术已走在成熟的快车道上，随着技术的持续完善，未来Micro-LED技术大有可为。 天马发布无界巨幕屏，与行业共同推进Micro-LED产业化发展进 ...

Core Viewpoint - The article discusses the consumer rights issues arising from the "green line" problem in smartphone screens, affecting major brands like OPPO, Vivo, Samsung, Xiaomi, and Huawei, highlighting the inconsistent after-sales service and warranty policies among these manufacturers [1][9]. Group 1: After-Sales Service Policies - OPPO and Vivo offer a warranty period of around four years, while Xiaomi, Huawei, and Honor typically provide one year of warranty service [3]. - OPPO announced free screen replacement for devices with green line issues within four years of purchase, while users with devices older than four years can receive discounted repair services [3]. - There are significant discrepancies in after-sales service experiences among OPPO users, with some receiving free replacements while others are denied service due to lack of purchase receipts [4][5]. Group 2: Consumer Complaints and Experiences - Many consumers report unreasonable demands for proof of purchase, such as requiring original receipts and packaging, which complicates the warranty claim process [4][8]. - Some users have successfully obtained free screen replacements after escalating complaints through various channels, despite being initially denied service [4][5]. - The article notes that even within the same brand, different service centers may apply different policies regarding the green line issue, leading to confusion and frustration among consumers [7][8]. Group 3: Technical Background of the Issue - The green line issue is a common fault in OLED displays, potentially caused by various factors such as chip failure or circuit issues [9][11]. - The problem has been linked to specific batches of screens supplied by Samsung, affecting multiple smartphone models [11]. - High temperatures and humidity are noted as conditions that can exacerbate the green line problem, with summer months being particularly problematic [12]. Group 4: Industry Response and Consumer Trust - There is a growing consumer expectation for a transparent and fair after-sales service system, especially in light of the marketing claims of high-quality products [13]. - The article emphasizes that the lack of a unified standard in after-sales service undermines consumer trust, as users feel that the service does not match the promised product quality [13].

Core Insights - The display technology sector is becoming a crucial arena for technological innovation as the digital economy integrates with the real economy, highlighted by the recent 2025 Tianma Microelectronics Global Innovation Conference in Wuhan showcasing 11 innovative technologies [1] Industry Overview - The display industry is a core pillar of the electronic information industry and plays a significant role in high-quality development of manufacturing, with China's new display industry transitioning from following to leading in certain areas, supported by national policies and collaborative efforts among industry players [2] - In 2024, China's new display industry is projected to exceed 760 billion RMB in output value, capturing over 49% of the global market share, with a 75% share in global display device shipment area, establishing itself as a significant growth driver in the global display industry [2] Technological Innovation - Tianma Microelectronics emphasizes that technological innovation is fundamental for the company and the industry, with recent advancements including the launch of the high-end OLED technology brand "Tiangong Screen" and the high-end vehicle display brand "Tianxuan Screen" [3] - The Tiangong Screen features integrated functions such as fingerprint recognition and environmental light sensing, with a 99% reduction in sensor thickness and a 40-fold increase in light signal collection capability [3] - The Tianxuan Screen series includes a 49.6-inch panoramic display with a 1.25-meter ultra-wide curved design and an IRIS HUD with 12,000 nits brightness, achieving a 40% reduction in power consumption [4] Collaborative Ecosystem - The success of China's display industry relies on collaborative efforts across the entire supply chain, with Tianma Microelectronics fostering partnerships with upstream companies like 3M and collaborating with domestic equipment manufacturers for Micro-LED technology [5] - The company has established stable partnerships with major automotive and consumer electronics brands, enhancing the overall ecosystem [5] Future Development Strategy - Tianma Microelectronics is committed to a dual focus on high-quality development and green transformation, implementing initiatives for energy efficiency and resource recycling [7] - The company has developed new materials that improve blue light efficiency by 10% and reduce overall power consumption by 12%, while also promoting a carbon neutrality plan across its operations [7] - Looking ahead, Tianma aims to deepen the integration of display technology with AI and expand its efforts in vehicle displays, Micro-LED, and VR/AR sectors, positioning itself as a leader in the global display industry [7]

Core Viewpoint - The company emphasizes the importance of market value management and has integrated market value management indicators into its assessment system [2] Group 1: Company Initiatives - Since 2025, the company has focused on protecting shareholder interests and enhancing investor confidence through various initiatives [2] - The company has released several announcements, including the "Valuation Enhancement Plan," a commitment from the controlling shareholder not to reduce their stake, and a share repurchase plan [2] - The management team is committed to improving operational quality and will continue to enhance company value through various measures such as standardized operations, improved information disclosure, and increased communication with investors [2]

Core Viewpoint - The company, Deep Tianma A, reported strong growth in its core business segments, particularly in non-consumer sectors like automotive and professional displays, as well as improvements in key areas such as flexible OLED smartphones [2] Group 1: Business Performance - The company anticipates robust development in its core business segments before the third quarter of 2025 [2] - Non-consumer sectors, including automotive and professional displays, are showing good resilience [2] - The operational efficiency of flexible OLED smartphones has significantly improved [2] Group 2: Financial Metrics - The company's gross profit margin for its main business increased by 3.2 percentage points year-on-year [2] - The cost expense ratio decreased by approximately 4.6 percentage points year-on-year [2] - The net profit attributable to the parent company improved by 786 million yuan year-on-year, while the net profit after deducting non-recurring gains and losses improved by over 1 billion yuan [2] Group 3: Strategic Initiatives - The company is focusing on quality improvement and efficiency enhancement through comprehensive cost reduction [2] - Advanced technologies such as AI are being leveraged to optimize internal management efficiency [2] - The company is actively empowering high-quality business development [2]

Core Viewpoint - The company announced a focus on capital expenditures related to its core business development, indicating a trend of decreasing capital spending in the absence of new line investments [1] Group 1: Capital Expenditures - The company's capital expenditures are primarily directed towards fixed asset investments for existing production lines, technological upgrades, and equity investments aligned with strategic planning [1] - As previous equity investment projects' capital contributions are gradually fulfilled, capital expenditures are expected to decline [1] Group 2: Depreciation - The company anticipates that depreciation in 2025 will not differ significantly from 2024, as new production lines reach their operational standards and mature LTPS production lines approach the end of their depreciation period [1] - Following the peak in depreciation, the company expects depreciation amounts to begin to decrease in the absence of new line investments [1]

Core Viewpoint - The company has been focusing on Micro-LED technology since 2017, with significant advancements in various display applications, particularly in automotive and seamless display solutions [1] Group 1: Micro-LED Technology Development - The company has prioritized Micro-LED business in automotive display and splicing display applications while exploring large-size screens, consumer displays, wearable displays, and professional display applications [1] - The company has released industry-leading Micro-LED display products with high transparency, seamless splicing, adjustable transparency, ultra-low reflectivity, and ultra-high PPI, achieving core technical indicators that are at the forefront of the industry [1] Group 2: Production and Market Readiness - A joint venture Micro-LED production line was lit up in 2024, with plans to achieve small-batch shipments of standardized display unit modules and successfully light up the first automotive standard product by 2025 [1] - The company has made a significant leap from technology development to the capability of producing standard products in Micro-LED [1] Group 3: Innovations and Partnerships - At the recent innovation conference, the company and its partners launched the industry's first 108-inch 4K seamless splicing Micro-LED large screen, utilizing all-laser mass transfer technology [1] - The company holds a considerable number of patents in AR/VR and near-eye display technologies and has production experience while continuously monitoring the application of Micro-LED technology in near-eye displays [1]

Core Viewpoint - The company, Deep Tianma A, announced on November 20 that the target market for the 8.x generation AMOLED production line is primarily focused on medium-sized IT products such as tablets and laptops [1] Group 1: Market Focus - The industry is concentrating on medium-sized displays for IT products, including tablets and laptops [1] - The company is closely monitoring market developments in this area [1] Group 2: Technology Development - The company is actively promoting flexible OLED technology in the automotive and IT sectors for medium-sized displays [1] - Future new line layouts will be determined based on the company's strategic planning and market demand [1]

Core Viewpoint - The company, Deep Tianma A, is experiencing significant growth in its automotive electronics business, which is expected to become a new growth engine alongside its new energy vehicle business [1] Group 1: Business Performance - The automotive electronics business is primarily delivering integrated vehicle display assembly products to leading international automotive manufacturers, which require higher production complexity and technical standards [1] - In 2023, the company began mass deliveries of automotive electronics to top international clients, with sales in the first three quarters of 2025 showing a year-on-year growth of 56% and achieving profitability [1] Group 2: Future Outlook - The automotive electronics segment is anticipated to enter a rapid growth phase in line with the development pace of client projects, contributing to the overall scale and product value enhancement of the vehicle display business [1]