Core Points - TCL Technology Group Co., Ltd. won the fifth China Quality Award, marking the first time Huizhou achieved this recognition, enhancing regional quality brand development and providing a benchmark for quality-driven innovation in the manufacturing sector [2][3] - The China Quality Award, established in 2012, is the highest honor in the quality field in China, aimed at recognizing organizations and individuals who have made significant innovations in quality management [2] - The fifth China Quality Award recognized 10 organizations, while 78 organizations and 6 individuals received nomination awards [2] Group 1 - Huizhou is striving to become a new growth pole for high-quality development in Guangdong, focusing on quality-driven initiatives and encouraging enterprises to adopt quality-based brand strategies [3][4] - The city has established a tiered cultivation system for quality award-winning enterprises, promoting advanced quality management models through sharing experiences from exemplary companies [4] - TCL's quality management model, characterized by "extreme, leading, and collaborative" principles, has been instrumental in enhancing the company's innovation and competitiveness, achieving global leadership in certain product areas [4] Group 2 - Huizhou aims to create "Huizhou Manufacturing" products that are guided by international and domestic advanced standards, emphasizing quality excellence and technological innovation [6] - The local government has implemented 40 key measures to optimize the business environment, focusing on quality support and standard leadership, including quality improvement actions and the establishment of chief quality officers in enterprises [6] - Since the 14th Five-Year Plan, Huizhou has led the nation in standards for 9 product categories and has participated in the formulation of 97 international standards and 337 national standards [6] Group 3 - Huizhou is promoting a collaborative quality improvement model across key industrial chains, focusing on modern storage, green petrochemicals, and LED lighting [7] - The quality management model developed by TCL has been extended to its ecosystem enterprises, facilitating cross-industry upgrades and enhancing quality levels and efficiency across the supply chain [7] - The initiative aims to address critical technology challenges and achieve domestic substitution in key semiconductor technologies, significantly improving quality and efficiency [7]

Group 1 - The core viewpoint of the article is that TCL Technology reported a significant increase in operating cash flow for the first half of 2025, reaching 27.3 billion yuan, which represents a year-on-year growth of 115.9% [1]

Core Viewpoint - TCL Technology showcased multiple innovative display technology products at IFA 2025, highlighting the application of its Star Intelligence model in semiconductor display research and production [1]. Group 1 - The company presented various innovative display technologies at the IFA 2025 event [1]. - The Star Intelligence model has demonstrated good applications in semiconductor display research and production [1].

Group 1 - The core viewpoint of the article is that TCL Technology expects continued growth in its OLED business in the first half of 2025, with its foldable products maintaining a position among the top three in global shipments [2] Group 2 - TCL Technology responded to investor inquiries on September 17, indicating positive projections for its OLED sector [2] - The company highlighted its competitive standing in the foldable product market, emphasizing its strong shipment performance [2]

证券日报网讯 TCL科技9月17日在互动平台回答投资者提问时表示，公司严格按照法律法规及监管要求 履行信息披露义务，关于公司信息请以公司公告为准。 （文章来源：证券日报） ...

证券日报网讯 TCL科技9月17日在互动平台回答投资者提问时表示，公司始终关注股东权益与互动体 验。未来公司将结合业务特点及股东需求，积极探索多样化形式以增强股东参与感。 （文章来源：证券日报） ...

证券日报网讯 TCL科技（000100）9月17日在互动平台回答投资者提问时表示，股价受综合多重因素影 响。目前公司各业务经营稳健，管理层持续优化经营策略，提升治理水平，努力为股东创造价值。 ...

Group 1 - The fifth China Quality Award was held in Nanjing, with Guangdong winning a total of 8 awards, an increase of 3 from the previous edition, accounting for 8.5% of the national total [1] - TCL Technology Group Co., Ltd. won the China Quality Award, while seven other companies received nomination awards, showcasing a diverse range of sectors including private enterprises, state-owned enterprises, and engineering organizations [1] - The award-winning organizations represent key industries in Guangdong, such as automotive, ultra-high-definition display, biomedicine, and emerging sectors like semiconductors and high-end equipment manufacturing, highlighting their role in supporting quality and economic development [1] Group 2 - TCL's quality management model has been implemented across over 2,000 enterprises within its ecosystem, indicating a strong commitment to quality improvement [2] - Guangdong's recognition as the top province for the number of China Quality Awards reflects its efforts to build a modern industrial system supported by advanced manufacturing [2] - The province has established nine trillion-yuan industrial clusters and has maintained the highest regional innovation capability in the country for eight consecutive years, emphasizing its focus on enhancing quality and value in its industrial framework [2]

Core Insights - TCL Technology Group Co., Ltd. won the fifth China Quality Award at the sixth China Quality Conference, highlighting its quality management model of "Extremity, Leadership, and Collaboration" [1][2] - The China Quality Award is the highest honor in the quality field in China, established in 2012, and is modeled after international quality awards [2] - TCL Technology is the only award-winning enterprise from Guangdong Province and the Greater Bay Area in this year's awards, marking its first application for the China Quality Award [1][2] Quality Management Model - The "Extremity, Leadership, and Collaboration" quality management model aims to drive high-quality development in the semiconductor sector [2][3] - "Extremity" refers to extreme operations, innovation, and management; "Leadership" indicates leading efficiency, products, and ecosystems; "Collaboration" encompasses customer, industry chain, and process collaboration [2] Economic Impact - The implementation of the quality management model has led to significant economic benefits for TCL Technology, including a 16% increase in monthly production capacity and a rise in yield from 95% to 99% at the Suzhou T10 production line [3] - The annual net profit margin improved by 17%, and the company has filed nearly 80,000 patents, ranking second globally in quantum dot technology patent applications [3] Technological Advancements - TCL Huaxing's X-Intelligence model has been upgraded to version 3.0, achieving significant efficiency and quality improvements in manufacturing, research, and operations [4] - The model ranks 11th globally in the industrial large model rankings for 2025 and leads the display field [4] Industry Influence - The quality management model has been extended to over 2,000 enterprises within the ecosystem, aiding cross-industry and cross-field upgrades [5] - TCL Technology aims to contribute significantly to the high-quality development of Chinese manufacturing [5]

Investment Rating - The report maintains a "Recommended" rating for the OLED industry chain related equipment stocks [5]. Core Insights - The construction of the 8.6 generation OLED production lines is accelerating, with TCL Technology announcing a joint investment of 29.5 billion RMB to build a new production line, expected to start in November 2025 and take 24 months to complete [1][8]. - The demand for OLED panels in automotive and IT applications is expected to drive significant growth, with AMOLED panel shipments projected to exceed 1.33 billion units by 2030, capturing 35% of the market share [3][21]. - The report highlights the competitive landscape, noting that major players like Samsung Display, BOE, and Visionox are also investing heavily in 8.6 generation OLED production lines, with total investments nearing 170 billion RMB [1][11]. Summary by Sections Section 1: Industry Developments - TCL, Samsung Display, BOE, and Visionox are all actively investing in 8.6 generation OLED production lines, with TCL's new line set to produce approximately 22,500 glass substrates per month [1][11]. - The report discusses the three main OLED technologies: FMM OLED, ViP OLED, and printed OLED, each with its advantages and disadvantages [2][20]. Section 2: Market Trends - The report anticipates a compound annual growth rate (CAGR) of 33% for laptops and 27% for automotive displays by 2030, indicating strong demand for OLED technology in these sectors [3][21]. - Counterpoint Research data shows that Samsung Display held a 37% market share in the global OLED panel market as of Q2 2025, with significant growth in laptop and display panel shipments [22][26]. Section 3: Investment Recommendations - The report suggests focusing on companies within the OLED supply chain, including Aolide, Linde Equipment, Dazhu Laser, and Maiwei Co., which are positioned to benefit from the growth in OLED production [4][31][35][38].