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].

Core Viewpoint - TCL Technology has been awarded the China Quality Award for its quality management model of "Extremity, Leadership, and Collaboration," highlighting its commitment to high-quality development in the semiconductor field [3][5][22]. Group 1: Quality Management Model - The "Extremity, Leadership, and Collaboration" quality management model was developed by TCL Technology under the national quality strategy, aiming to become synonymous with high-quality development in the semiconductor sector [9][11]. - "Extremity" encompasses extreme operations, innovation, and management, focusing on strategic-driven operations, comprehensive quality management, and collaborative improvements across the supply chain [11][12]. - "Leadership" is the goal of high-quality development, with TCL achieving industry-leading performance in 19 key quality indicators and optimizing operational efficiency [11][12]. - "Collaboration" involves customer, supply chain, and environmental cooperation, enhancing responsiveness and promoting green development through ESG strategies [12][22]. Group 2: AI Integration and Manufacturing Efficiency - AI is increasingly integrated into TCL's manufacturing processes, significantly improving production efficiency and product quality, with examples including a 70% increase in production efficiency and an 11% improvement in process capability index [12][14]. - The company has achieved a high level of smart manufacturing maturity in the semiconductor display industry, with production capacity exceeding original designs by 60% [14]. - TCL's AI strategy includes partnerships with industry leaders like Alibaba Cloud to build an intelligent hub for the semiconductor display industry [15]. Group 3: Innovation and Competitive Advantage - Under the quality management model, TCL is expanding into semiconductor displays, renewable energy, and semiconductor materials, positioning itself as a leading semiconductor manufacturing group [17]. - The company has achieved global leadership in several product categories, including gaming displays and photovoltaic silicon wafers, with significant improvements in production metrics post-implementation of the quality model [17][18]. - TCL has filed nearly 80,000 patents, with a strong focus on quantum dot electroluminescence technology, leading the global patent landscape in this field [18][20]. Group 4: Investment in Quality Infrastructure - TCL has invested over 8 billion in quality infrastructure, establishing 80 laboratories, with several receiving national accreditation [22]. - The quality management model has been extended to over 2,000 enterprises within the ecosystem, facilitating cross-industry upgrades and enhancing overall manufacturing quality [22].

Core Viewpoint - TCL Huaxing has successfully launched the mass production of its first Mini LED product, the P1.2 COB display screen, marking a significant milestone in its display technology innovation [1][6]. Company Summary - The P1.2 COB display screen features a large panel design and represents TCL Huaxing's third display technology route following LCD and OLED [3]. - The brightness range of the product is adjustable from 0 to 800 nit, with a contrast ratio of up to 5000:1, targeting professional display scenarios such as conference rooms, command centers, and security monitoring [3]. - The MLED project commenced in July 2024, with the mass production being completed approximately 15 days ahead of schedule, showcasing the company's execution capabilities in display module manufacturing and supply chain coordination [5]. Industry Summary - COB packaging technology is emerging as a new trend in the small-pitch LED display sector, offering significant advantages over traditional SMD packaging in terms of pixel density, heat dissipation, reliability, and protection [5]. - Market data indicates that by the first half of 2025, COB packaging technology is expected to account for 36.6% of sales in small-pitch LED displays, with a projected increase to approximately 51.5% in products with a pitch of P1.4 and below, reflecting a year-on-year increase of nearly 20 percentage points [5]. - As technology matures and costs decrease, the penetration of COB technology in niche markets such as advertising media, command centers, exhibitions, and large monitoring screens is anticipated to continue expanding [5].

近几年，Mini LED技术快速发展，相应的电视产品也逐渐成为中高端市场的主流，增长已经超过OLED 电视，成为更多人的选择。在国内，几乎所有的电视企业也都已经入局，并将其作为当下的主打产品。 过去的2024年，全球Mini LED电视出货量为785万台，较2023年的425万台增长84.7%；其中，中国市场 Mini LED电视的出货量升至416万台，同比增幅高达352.2%。 值得一提的是，随着对Mini LED技术的逐渐深入探索，RGB-Mini LED技术开始走向前台，成为高端电 视产品的代名词。日前，TCL推出了包括Q10M Ultra、Q9M等多款RGB-Mini LED电视。不仅如此， TCL还首次发布SQD-Mini LED技术以及搭载该技术的X11L电视，宣称在亮度、色彩和寿命上全面超越 OLED。 据介绍，TCL SQD-Mini LED是Mini LED技术的升级，基于超级蝶翼华曜屏与超级量子点两大技术，实 现了100% BT.2020全局高色域。对比普通RGB-Mini LED 97% BT.2020色域覆盖率，SQD-Mini LED显色 更丰富、更纯净，避免了偏色、串色等行业问题。 ...

Core Points - The sixth China Quality Conference opened in Nanjing, Jiangsu, showcasing the highest standards in quality management in China [1] - TCL Technology Group won the fifth China Quality Award, marking its first application and recognition for its quality management model [3][7] - The China Quality Award is the highest accolade in the quality field in China, established in 2012, and is modeled after international quality awards [6] Company Achievements - TCL Technology's quality management model, characterized by "extreme, leading, and collaborative," has been recognized for its effectiveness in driving high-quality development [7][8] - The model has led to significant improvements in TCL's production capabilities, including a 16% increase in monthly production capacity and a 17% rise in net profit margin since the implementation at the Suzhou T10 production line [10] - TCL has filed nearly 80,000 patents, ranking second globally in quantum dot technology patent applications, demonstrating its commitment to innovation [10] Industry Impact - The "extreme, leading, and collaborative" quality management model is aimed at establishing TCL as a leader in the semiconductor field, contributing to China's low-carbon economy [8] - The model has been adopted by over 2,000 enterprises within TCL's ecosystem, facilitating cross-industry upgrades and enhancing quality across more than 20 sectors [12] - TCL's advancements in AI and smart manufacturing are positioned to further enhance quality management and production efficiency [10][12]