Core Viewpoint - San Chuan Wisdom (300066) confirmed its stake in Zhongxi Tianma and directed investors to consult Zhongxi Tianma for specific details regarding its "annual processing of 50,000 tons of waste battery comprehensive recycling project" [1] Group 1 - San Chuan Wisdom is a shareholder in Zhongxi Tianma [1] - The company does not provide detailed information about the recycling project and suggests direct inquiries to Zhongxi Tianma [1]

Group 1 - The company, Tianma Microelectronics Co., Ltd., will participate in the "2025 Annual Online Collective Reception Day for Investors of Listed Companies in Shenzhen" [2] - The event is guided by the Shenzhen Securities Regulatory Bureau and the China Securities Investor Services Center, and organized in collaboration with the Shenzhen Listed Companies Association and Shenzhen Panorama Network Co., Ltd. [2] - The event is scheduled for November 20, 2025, aimed at enhancing interaction and communication with investors [2]

证券代码：000050 证券简称：深天马 A 公告编号：2025-076 特此公告。 天马微电子股份有限公司董事会 天马微电子股份有限公司 二〇二五年十一月十三日 关于参加2025年度深圳辖区上市公司投资者 第 1 页 共 1 页 网上集体接待日活动的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，天马微电子股份有限公司 （以下简称"公司"）将参加由深圳证监局和中证中小投资者服务中 心指导、深圳上市公司协会与深圳市全景网络有限公司联合举办的 "2025年度深圳辖区上市公司投资者网上集体接待日"活动，现将相 关事项公告如下： 本次活动将采用网络远程的方式举行，投资者可登录"全景路演" 网站（https://rs.p5w.net），或关注微信公众号：全景财经，或下载 全景路演APP，参与本次互动交流，活动时间为2025年11月20日（周 四）14:30-17:00。届时公司高管将在线就公司业绩、公司治理、发 展战略、经营状况和可持续发展等投资者关心的问题，与投资者进行 沟通与交流，欢迎广大投资者踊跃参与！ ...

Group 1 - The core viewpoint of the news is that 深天马A has experienced fluctuations in stock price and trading volume, with a recent decline of 2.05% and a total market capitalization of 23.471 billion yuan [1] - As of October 31, the number of shareholders for 深天马A is 71,900, a decrease of 2.06% from the previous period, while the average circulating shares per person increased by 2.11% to 34,169 shares [2] - For the period from January to September 2025, 深天马A reported a revenue of 26.663 billion yuan, representing a year-on-year growth of 11.03%, and a net profit attributable to shareholders of 313 million yuan, which is a significant increase of 166.25% year-on-year [2] Group 2 - 深天马A has cumulatively distributed 1.429 billion yuan in dividends since its listing, with no dividends distributed in the last three years [3] - As of September 30, 2025, Hong Kong Central Clearing Limited is the fifth largest circulating shareholder of 深天马A, holding 110 million shares, an increase of 55 million shares from the previous period [3] - The company's main business involves display core businesses for mobile smart terminals, automotive displays, and value-added services in medical and industrial control sectors, with display screens and modules accounting for 99.05% of its revenue [1]

Core Viewpoint - Tianma showcased multiple Micro-LED transparent display technology products at the 2025 China International Import Expo, targeting applications in automotive displays and commercial showcases [1][11]. Product Highlights - 8.07-inch Head-Up Display: Features a compact design with a brightness of 10,000 nits, thin structure, wide color gamut, and fast response speed, suitable for display on automotive windshields [1]. - 8.07-inch Transparent Low Reflection Display: The industry's first Micro-LED low reflection transparent screen with a maximum PPI, over 50% transmittance at 167 PPI, and a reflection rate below 3%, adjustable brightness for applications like windows and dashboards [3]. - 9.38-inch Adjustable Transparency Display: The first Micro-LED screen with adjustable transmittance from 0.1% to 24%, adapts to ambient light conditions while maintaining high-definition visuals, ideal for automotive displays in complex lighting environments [5]. - 7.05-inch Ultra-Narrow Border Transparent Display: Features a border narrower than 0.1mm, over 60% light transmittance, and can be spliced into larger displays, targeting commercial showcases, smart homes, and automotive applications [7]. - 14.1-inch Invisible Teleprompter: Offers 10,000 nits brightness with a transparent glass design, allowing speakers to read scripts while interacting with the audience, suitable for speeches and meetings [9]. Technological Development - Since 2017, Tianma has been developing Micro-LED technology, achieving significant progress in glass-based Micro-LED transparent display technology, and has established the industry's first G3.5 generation fully automated mass transfer production line with high yield and a degree of domestic material capability [11]. - The company focuses on high transparency, high brightness, low reflection, and splicing features, exploring the application possibilities of transparent displays in automotive, commercial, and smart home scenarios [11]. - Research efforts are concentrated on the reliability and mass production feasibility of glass-based Micro-LEDs to validate the industrialization path of transparent displays [11].

Core Viewpoint - Changhai Co., Ltd. confirmed that Changzhou Tianma Group Co., Ltd. is a wholly-owned subsidiary, specializing in high-performance fiberglass and related products, which extends the company's main business chain [2] Group 1 - Changzhou Tianma Group produces unsaturated polyester resins and auxiliary materials, fiberglass adhesives, and composite materials [2] - The subsidiary plays a crucial role in the company's core business operations [2]

Core Insights - The article highlights the advancements of Tianma Microelectronics in the Micro-LED display technology, showcasing its potential to reshape the display industry and establish a strong presence in the global market [1][2]. Technology Breakthrough - Micro-LED is recognized as the next mainstream display technology following LCD and OLED, with advantages such as self-emission, high brightness, long lifespan, low power consumption, and nearly infinite contrast ratio [2]. - The global Micro-LED display market is projected to reach approximately $800 million by 2028, with a compound annual growth rate (CAGR) of 70.4% from 2023 to 2028 [2]. - Tianma has established a G3.5 Micro-LED production line in Xiamen, which covers all critical processes and achieved full-process integration by December 30, 2024, marking a significant breakthrough in the field [2][5]. Product Development - Tianma has developed a transparent display solution with a maximum transparency rate of 70% and a unique adjustable transparency technology ranging from 0.1% to 24% [5]. - The company successfully lit its first 7-inch car-mounted Micro-LED standard product in the first half of 2025, paving the way for mass production [5]. Brand Positioning - Tianma aims to transform from a single product supplier to a "chain master" enterprise, integrating technology research, standard formulation, and ecosystem integration [6]. - The company has launched two industry standards for Micro-LED displays, which have been recognized as typical cases for application promotion by the Ministry of Industry and Information Technology [6]. Market Collaboration - Tianma has established partnerships with major automotive companies such as Li Auto, XPeng Motors, and GAC, capturing a significant market share in the automotive display sector [7]. - The company’s automotive display shipments reached approximately 21 million units in the first half of the year, reflecting a year-on-year growth of 24.7% [7]. Ecosystem Development - Tianma is committed to building a complete ecosystem for Micro-LED technology, leading the formation of a Micro-LED ecological alliance to address challenges in packaging equipment and mass production yield [8]. - The company has developed a three-dimensional sputtering technology to simplify manufacturing processes and significantly reduce costs [9]. Application Expansion - Beyond automotive displays, Tianma's PID standard modules are applicable in command centers, smart retail, and digital signage, showcasing the versatility of Micro-LED technology [9]. - The company has provided high-quality screens for flagship products from OPPO and Xiaomi, enhancing user experience with superior color gamut and resolution potential [9].

Core Insights - The forum "Future Technology Outlook: The Limits of Transparent Micro-LED Technology and Application Imagination" was held in Shanghai, focusing on advancements in display technology, particularly Micro-LED [1] - The event aimed to gather top industry wisdom to outline a new blueprint for technological development in the display industry [1] Industry Overview - The display technology is at a critical turning point, with Micro-LED, especially transparent displays, challenging traditional screen definitions and transforming displays into interactive interfaces that integrate deeply with environments [1] - The China Electronic Video Industry Association emphasizes the importance of collaboration across the industry chain to promote innovation and strengthen standardization and intellectual property protection [1] Company Highlights - Tianma Microelectronics has over 40 years of experience in the display field, achieving global leadership in areas such as automotive displays and flexible OLEDs [1] - Since 2017, the company has focused on Micro-LED technology, overcoming several key technical bottlenecks and achieving comprehensive leadership in core transparent display technologies [1] - The company showcased five significant Micro-LED products at the forum, highlighting advantages such as high brightness, adjustable brightness, transparent low reflection, and ultra-narrow bezels [2] Technological Advancements - Tianma Microelectronics' mass transfer equipment has an efficiency of 40KK UPH, placing it among the global top tier in multiple technical indicators [2] - The technological achievements align closely with the Ministry of Industry and Information Technology's policies promoting the integration of new display industries [2]

Group 1: Industry Trends - Honda showcased its commitment to safety with the concept of "Safety for Everyone" at the Import Expo, emphasizing the importance of automotive safety in China's high-quality development of the automotive industry [1] - The automotive cockpit is evolving towards high integration, intelligence, digitization, and personalization, with Micro-LED technology playing a crucial role in enhancing user experience in smart cockpits [2] Group 2: New Products - GAC Aion's first range-extended model, Aion i60, has started pre-sales, with a starting price of 126,800 yuan for the range-extended version and 119,800 yuan for the pure electric version [3] - The 2026 BYD Summer has been officially launched, offering four models with a price range of 196,800 to 259,800 yuan, featuring a pure electric range of 218 kilometers and a hybrid mode range of 1,163 kilometers [4] - Leap Motor's new model, Lafa5, has begun pre-sales with a price range of 105,800 to 131,800 yuan, targeting the Gen Z market and aiming for global expansion [5][6] - The new Alpha T5 from Arcfox has been launched, available in both pure electric and range-extended versions, with prices ranging from 109,800 to 154,800 yuan, and featuring advanced driving assistance technology [7] - The IM LS9 has officially started pre-sales, positioned as a large six-seat new energy SUV, with a pre-sale price range of 336,900 to 366,900 yuan and a significant initial demand [8] - The new Tank 400 has been launched, featuring a powerful hybrid system with a price range of 249,800 to 319,800 yuan, aiming to regain market share in the competitive off-road vehicle segment [9]

Core Insights - The forum hosted by Tianma Microelectronics focused on the future of Micro-LED technology, particularly its transparent applications, highlighting its potential to redefine display technology and create new interactive interfaces with the environment [1][2] Industry Developments - The display technology sector is at a critical turning point, with Micro-LED, especially transparent displays, challenging traditional screen definitions and enabling deeper integration with environments [1] - The International Society for Information Display (SID) emphasized the need for global collaboration across the industry to realize the vision of Micro-LED technology, which is breaking through physical limits in materials and processes [1] Company Innovations - Tianma Microelectronics has over 40 years of experience in the display field and has been focusing on Micro-LED technology since 2017, achieving significant breakthroughs in transparent display technology [2] - The company’s R&D center has developed a glass-based Micro-LED technology that offers high transparency, brightness, and seamless integration, marking a shift towards a "glass-based era" in display competition [2] - Tianma's mass transfer equipment has an efficiency of 40KK UPH, placing it among the top tier globally [3] Application Insights - Micro-LED technology is enhancing user experiences in smart cabins, transforming displays from mere screens to immersive spaces, with applications like transparent window displays and immersive cockpit experiences on the horizon [3] - The introduction of a low-cost, high-precision projection exposure machine for Micro-LED processes represents a significant advancement in domestic high-end display equipment, injecting innovation into the global new display industry [3] Product Showcase - Tianma showcased five Micro-LED products, including 8.07-inch head-up displays and 9.38-inch adjustable transparency displays, demonstrating the diverse applications and technical advantages of transparent display technology [4]