（编辑 姚尧） 证券日报网讯 TCL科技11月27日在互动平台回答投资者提问时表示，公司充分理解投资者对股价的关 切和对公司经营的关心，也将一如既往地加强与投资者的沟通，及时向投资者传递公司的最新发展情 况。 ...

Core Viewpoint - TCL Technology emphasizes its strong collaborative relationships with upstream and downstream partners in the industry, focusing on open cooperation and mutual benefits while maintaining close ties with numerous well-known global brand clients [1] Group 1 - The company maintains good cooperation with excellent enterprises in the industry chain [1] - TCL Technology is committed to open cooperation and win-win outcomes [1] - The company continues to strengthen its collaboration with many renowned global brand customers [1] Group 2 - Maojia Technology, as the largest TV OEM globally, closely monitors technological trends in the TV and display industry [1] - The company plans to explore more possibilities by integrating its own planning with industry development trends and market demands [1]

Core Viewpoint - TCL Technology is advancing the industrialization of printed OLED technology, with significant capacity expansion and product quality improvements expected by Q3 2025 [1] Group 1: Production Capacity and Technology Development - The existing G5.5 printed OLED production line (t12) capacity is steadily increasing from 3K units per month to 9K units per month [1] - The company has officially launched the construction of the world's first high-generation printed OLED production line (t8 project) in late October [1] Group 2: Market Position and Strategic Importance - This initiative marks a significant technological leadership and market dominance potential for Chinese display companies in the high-generation OLED sector [1] - The advancements are expected to facilitate the large-scale implementation of mid-to-high-end displays and laptops, providing critical support for China's competitive position in global display technology [1]

（编辑 姚尧） 证券日报网讯 TCL科技11月27日在互动平台回答投资者提问时表示，公司始终将经营发展与品牌建设 深度融合，通过优化产品矩阵、升级服务体系、拓展全球市场等举措，持续构筑核心竞争力，推动经营 效能与品牌价值的双向赋能与协同提升，不断深化品牌影响力，为股东创造长期可持续价值。 ...

Group 1 - The core viewpoint of the article is that TCL Technology is investing in the T8 production line to align with the accelerating penetration trend of OLED in the mid-size market, and there are no significant new production line investment plans aside from T8 [1] Group 2 - The company is responding to market trends by enhancing its production capabilities in OLED technology [1] - The focus on the T8 production line indicates a strategic shift towards meeting increasing demand in the OLED segment [1] - The absence of large-scale new production line investments suggests a cautious approach to capital expenditure in the current market environment [1]

Core Viewpoint - TCL Technology is investing in the T8 production line to align with the accelerating penetration of OLED in the mid-size market, with no significant new production line investment plans beyond T8 [1] Company Summary - TCL Technology is responding to the trend of increased OLED market penetration by investing in the T8 production line [1] - The company has indicated that there are no large-scale new production line investment plans apart from T8 [1]

Core Viewpoint - TCL Technology is advancing the industrialization process of printed OLED technology, with significant capacity expansion and quality improvements expected by Q3 2025 [1] Group 1: Production Capacity - TCL Huaxing's existing G5.5 printed OLED production line (t12) capacity is steadily increasing from 3K units per month to 9K units per month [1] Group 2: Quality Improvement - The product yield and quality of the printed OLED technology are continuously improving [1]

Core Viewpoint - The U.S. International Trade Commission (ITC) has initiated a "337 investigation" into specific liquid crystal devices and components, targeting several Chinese companies, including Huike, Hisense, and TCL, as well as international firms like LG and Westinghouse. This investigation stems from a complaint by BH Innovations LLC, alleging patent infringement on two U.S. patents [1][2]. Group 1: Investigation Details - The investigation was triggered by a complaint filed on August 29, claiming that certain products exported to and sold in the U.S. infringe on two U.S. patents (patent numbers 7,705,948 and 7,570,334). The ITC may issue exclusion and cease-and-desist orders if infringement is found [1]. - The implicated Chinese companies are significant players in the display industry, with Huike being a manufacturer of panels and terminal devices, while Hisense and TCL hold over 50% of the North American television market share [1]. Group 2: Involved Companies - The list of defendants includes numerous companies from various countries, such as: - Chinese companies: Guangdong Huike, Chongqing Huike, Hisense Group, TCL Electronics, and others [2]. - U.S. companies: HiSense US Corporation, VIZIO Holding Corp., TTE Technology Inc., LG Electronics USA, and Westinghouse Electric Corporation [3]. - Other international companies: TCL Smart Device (Vietnam) Co. Ltd. and LG Electronics, Inc. from South Korea [3]. Group 3: Industry Context - This is not the first instance of Chinese display companies facing a 337 investigation; Corning has previously initiated similar investigations against Chinese firms, focusing on patent barriers. Industry experts suggest that these investigations aim to curb the technological advancements of the Chinese display industry, particularly after domestic companies have significantly reduced the prices of products like glass substrates [3]. Group 4: Response Strategies - Chinese companies are not without recourse; for instance, BOE successfully defended against a previous OLED patent investigation by engaging in proactive measures and patent invalidation strategies. The current defendants have also begun their response procedures, including filing for patent invalidation reviews with the U.S. Patent and Trademark Office. However, the investigation process typically lasts 16-18 months, during which companies face high litigation costs and potential market share fluctuations [4].

Core Insights - The mid-size OLED display is leading a surge in the popularity of OLED panels, driven by its technical advantages in picture quality, color gamut, contrast, and response speed, particularly with refresh rates exceeding 240Hz, which is boosting demand in the high-end gaming market [1] - By 2025, OLED display shipments are expected to reach 2.62 million units, representing an 84% year-on-year growth [1] Industry Trends - OLED technology is expanding from mobile devices to mid-size screens in computers and automotive applications, with increasing demand noted [2] - The launch of the OLED-equipped iPad Pro by Apple is seen as a significant signal of the transition from LCD to OLED in high-end mid-size displays [2] - Companies like BOE Technology Group, Visionox, TCL Technology, and Lite-On Optoelectronics have already begun to position themselves in the OLED supply chain [2] Capacity Expansion - TCL Technology's subsidiary, TCL Huaxing, has initiated the construction of the world's first mass production line for 8.6-generation printed OLED panels in Guangzhou, with a total investment of 29.5 billion yuan and a designed monthly capacity of 22,500 glass substrates [2] - BOE's AMOLED production line in Chengdu is set to achieve mass production by Q4 2026, with a monthly capacity of 32,000 substrates, primarily for high-end laptops and tablets [3] Technological Innovation - The OLED industry is experiencing rapid technological innovation alongside capacity expansion, which is crucial for reducing costs and increasing market penetration [4] - Major players are adopting different technological routes: TCL Huaxing is focusing on printed OLED, BOE is using mature evaporation technology, and Visionox is betting on ViP technology [4] - The strategic significance of TCL's t8 project is not only in capacity expansion but also in a technological leap [4] Material Development - Lite-On Optoelectronics is accelerating breakthroughs in OLED terminal materials, achieving significant advancements in domestic OLED material production [5] - The company has developed Red Prime materials and completed the localization of Green Host and Red Host materials, with ongoing efforts in new generation narrow-spectrum dopant materials [5] - Lite-On Optoelectronics plans to raise up to 766 million yuan through convertible bonds to fund various projects, including the construction of new material production bases and smart upgrades [6] Market Outlook - The domestic OLED industry is transitioning from merely existing to focusing on quality, with technological innovation being key to meeting high-end demands [6] - The overall layout of the domestic OLED supply chain is becoming more comprehensive and mature, with expectations for accelerated advancement into high-end markets and increased international market share [6]

Core Viewpoint - TCL Huaxing Optoelectronics Technology Co., Ltd. has signed an agreement to build a pilot verification platform for printed OLEDs in Donghu High-tech Zone, with an investment of approximately 1.5 billion yuan, aimed at enhancing China's innovation capability and global competitiveness in the new display sector [1]. Group 1 - The printed OLED pilot verification platform project will increase monthly production capacity from 3,000 to 9,000 large panels, focusing on upstream materials and equipment verification to accelerate the industrialization of printed OLEDs [1]. - Since its establishment in Wuhan in 2014, TCL Huaxing has invested over 80 billion yuan and created more than 17,000 jobs, developing a comprehensive industrial base that integrates R&D, manufacturing, and sales [2]. - In the first three quarters of 2025, TCL Huaxing achieved a revenue of 78.01 billion yuan, a year-on-year increase of 17.5%, and a net profit of 6.1 billion yuan, up 53.5% year-on-year [2].