（编辑 袁冠琳） 证券日报网讯 深天马A11月25日在互动平台回答投资者提问时表示，2025年前三季度，公司武汉 AMOLED产线净利润同比改善超30%，经营质效持续改善。公司也会持续通过优化产品结构，推动极 致降本等方式，不断提升产线经营水平。公司所在的显示行业具有资金密集、技术密集、工艺复杂以及 建设周期较长等特点，在产能布局方面，公司会综合考量自身战略发展方向、宏观经济走势及行业技术 迭代趋势等多种因素审慎规划，稳步推进中长期高质量发展。 ...

证券日报网讯 深天马A11月25日在互动平台回答投资者提问时表示，公司聚焦显示主业，同时也积极布 局基于面板工艺与TFT驱动技术的非显示应用技术开发，建立了MPG平台（多项目玻璃基板技术平 台），稳步推进与行业伙伴在面板级超材料智能天线、微流控、智能调光、大面积指纹识别、柔性传感 器等领域开展技术开发与合作，将面板制造技术赋能更广泛的应用领域。目前，公司相关业务主要还在 孵化和培育期，部分技术已经小批量，公司将持续探索市场需求和优化产品方案。 （编辑 袁冠琳） ...

（编辑 袁冠琳） 证券日报网讯 深天马A11月25日在互动平台回答投资者提问时表示，作为中小尺寸显示领域的龙头企 业，公司始终重视行业生态的健康发展，将持续通过高定制化的产品优势、科学的生产规划、强化前瞻 性技术布局与产品技术开发等多元举措，以自身行动维护行业良性竞争与可持续发展。 ...

证券日报网讯深天马A11月25日在互动平台回答投资者提问时表示，截至2025年11月20日，公司股东户 数为72732户。 ...

每经AI快讯，深天马Ａ（000050.SZ）11月25日在投资者互动平台表示，2025年前三季度，公司武汉 AMOLED产线净利润同比改善超30%，经营质效持续改善。公司也会持续通过优化产品结构，推动极 致降本等方式，不断提升产线经营水平。公司所在的显示行业具有资金密集、技术密集、工艺复杂以及 建设周期较长等特点，在产能布局方面，公司会综合考量自身战略发展方向、宏观经济走势及行业技术 迭代趋势等多种因素审慎规划，稳步推进中长期高质量发展。 （文章来源：每日经济新闻） ...

每经AI快讯，有投资者在投资者互动平台提问：请问明年的折旧会大概下降多少？ （文章来源：每日经济新闻） 深天马Ａ（000050.SZ）11月25日在投资者互动平台表示，综合考虑TM20个别新线体达到转固标准、成 熟LTPS产线将逐步折旧到期，在没有其他新线投资的前提下，2026年折旧金额预计开始逐步下降，具 体金额请以公司定期报告数据为准。 ...

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]

Core Viewpoint - The article emphasizes the significant potential of Micro-LED technology in the display industry, highlighting its advancements and the collaborative efforts of companies like Tianma Microelectronics to drive its commercialization and application across various sectors [2][6][16]. Group 1: Micro-LED Technology Development - Micro-LED is regarded as the ultimate display technology, with Tianma leading the charge in its development for large-size displays, automotive displays, transparent displays, wearables, and AR applications [2][5]. - At the TIC 2025 conference, Tianma unveiled the world's first 108-inch 4K Micro-LED seamless display, showcasing its high brightness, contrast, low reflectivity, and seamless splicing capabilities [5][8]. - The cost reduction and yield improvement of Micro-LED technology are critical for its market expansion, with a reported price drop of over 50% for 6-inch RGB Micro-LED chips in the past two to three years [6][9]. Group 2: Technical Challenges and Solutions - Despite the advancements, challenges such as reduced external quantum efficiency (EQE) and lower yield due to chip size reduction persist, but upstream companies are actively addressing these issues [9][10]. - Tianma is developing technologies like mixed BIN and De-mura algorithms to enhance chip uniformity to over 90%, thereby reducing costs [9][10]. - Various manufacturing techniques, including laser mass transfer and high-precision seamless splicing, are being optimized to improve the cost and yield of Micro-LED displays [10][12]. Group 3: Automotive Display Opportunities - Tianma is focusing on automotive displays as a key area for Micro-LED technology, having already developed several transparent display products tailored for automotive environments [12][13]. - The compatibility of Micro-LED technology with automotive displays is highlighted by its deformability, efficiency, and durability, which opens up numerous application opportunities [13][15]. - Tianma successfully demonstrated a 7-inch Micro-LED automotive standard product, accelerating the penetration of Micro-LED technology in the automotive sector [15][16]. Group 4: Future Prospects and Investments - The potential applications of Micro-LED technology are vast, extending to smartwatches, AR glasses, automotive headlights, and optical communications, which could significantly enhance its market value [16][17]. - Tianma has invested 1.1 billion yuan to establish a fully automated G3.5 generation mass transfer production line, expected to achieve full-process integration by the end of 2024 and begin small-scale production in 2025 [16][17]. - The company is optimistic about the future of Micro-LED technology, viewing 2026 as a pivotal year for its development and mass production [17].

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]