□佩奇 （图片由成都高新区西园街道提供）成都辰显光电有限公司首发Micro-LED创新产品引发 关注，125套公寓"上新"助力人才扎根，一批特色"城市家具"亮相合庆里商业街区，持续提升城市 品质……近日，成都高新西区呈现出一片新气象。作为全省产业发展高地，成都高新区2024年实 现地区生产总值3490.3亿元，电子信息等主导产业表现亮眼。在该区电子信息产业的核心区和主 要承载区——成都高新区西园街道，汇聚有京东方、迈克生物、中航无人机等大批知名企业，去 年规上工业（制造业）、规上电子信息产业总产值在全区的占比均超过80%。产业兴则经济强。 2025年是"十四五"规划收官之年，也是进一步全面深化改革的重要一年，如何更好服务企业进而 发展产业？当下，西园街道正通过深化党建引领、创新机制理念、优化服务体系，打响"西园"招 牌，为成都高新区加快建设世界一流高科技产业园区和产业科技创新高地贡献力量。从一个圈看 内核"参加今天的对接沙龙很有收获！"不久前，参加完一场集成电路产业链资源对接沙龙后，成 都爱乐达航空制造股份有限公司代表难掩激动。当天，20多家相关企业与配套服务机构齐聚，就 技术创新及潜在发展机会深入交流，探索 ...

Core Viewpoint - Micro LED technology is recognized as a strong competitor in the next-generation display technology landscape due to its advantages in brightness, contrast, response speed, energy efficiency, and lifespan. The industry is witnessing a competitive race for technological development and industrialization in Micro LED [1]. Company Summaries BOE Technology Group - BOE has been investing in Micro LED for years, establishing a complete industrial chain from upstream IC design to downstream applications through strategic control of Huacan Optoelectronics and the Zhuhai Jingxin project [2]. - The company is developing RGB Mini/Micro LED direct display solutions based on COG and COB technologies, alongside Mini LED backlight solutions. It has also partnered with international equipment companies to develop mass transfer technology [2]. - As of March 19, 2025, BOE's Huacan Optoelectronics has achieved product delivery from its 6-inch Micro LED production line, with an annual production capacity of 24,000 wafers and 45,000kk pixel devices [2]. TCL Huaxing - TCL Huaxing has formed a joint venture with Sanan Optoelectronics, focusing on the development of transfer bonding technology for Micro LED [5]. - The joint venture aims to tackle four key technological areas: miniaturization of LED chips, enhancement of luminous efficiency, transfer bonding technology, and optimization of backplane materials and driving algorithms [5]. - The Micro LED pilot line is expected to achieve small-scale trial production by 2025, with an initial investment of 300 million yuan [8]. Visionox - Visionox has established Chengdu Chenxian Optoelectronics to focus on Micro LED technology research and industrialization, particularly using LTPS glass substrates [9]. - The company aims to develop key technologies such as mass transfer, high-precision repair processes, seamless stitching technology, and driving algorithms based on TFT backplanes [9]. - By December 2024, the first mass production line based on TFT technology in mainland China is expected to be operational [10]. Deepin Technology - Deepin Technology has been involved in Micro LED since 2017, establishing a dedicated research institute and focusing on applications in public information display, automotive displays, and transparent displays [11]. - The company has successfully integrated a G3.5 generation Micro LED production line, which covers the entire process from mass transfer to final display module manufacturing [11]. - This production line utilizes LTPS TFT glass substrates and advanced mass transfer technology, enabling the production of borderless Micro LED display products [13]. AU Optronics - AU Optronics collaborates with its key component supplier Ennostar to enhance its Micro LED capabilities, focusing on mass transfer, inspection, repair, and module manufacturing [14]. - The company is constructing a 4.5 generation Micro LED production line, expected to be operational by 2025, to produce a variety of Micro LED products including smartwatches and automotive displays [16]. Innolux - Innolux has established Advanced MicroLux to focus on Micro LED technology research and manufacturing, with a registered capital of 150 million NTD [17]. - The company is concentrating on active matrix driving Micro LED technology and developing key technologies such as color conversion, selective mass transfer, and seamless stitching [17]. - Innolux's Micro LED technology has already been applied in automotive displays and large-size TVs, with plans to expand production capacity to higher generation lines [19]. Industry Outlook - According to TrendForce, the Micro LED chip market is projected to reach approximately $27.9 million in 2024, primarily driven by large display screens. By 2029, the market is expected to grow to $740 million, with a compound annual growth rate of 93% from 2024 to 2029 [20]. - The continuous investment and strategic layout by major panel manufacturers and LED industry players are accelerating the maturity of Micro LED technology, leading to a gradual decrease in production costs [20]. - Micro LED is anticipated to achieve large-scale applications across various sectors, including consumer electronics, commercial displays, automotive displays, and emerging fields like transparent displays and AR/VR, potentially reshaping the display industry landscape [20].

Core Insights - The event held in Wuhan's National Cybersecurity Talent and Innovation Base aimed to foster communication between government and enterprises to promote high-quality development in the cybersecurity industry [1][5] Group 1: Event Overview - The National Cybersecurity Entrepreneur Symposium was organized by the Wuhan Airport Economic and Technological Development Zone, gathering leading domestic cybersecurity companies to discuss enterprise needs and industry development [1] - The symposium featured a tour of the Cybersecurity Software Park, showcasing innovative achievements and the industrial layout of the cybersecurity sector in Wuhan [3] Group 2: Regional Development and Opportunities - Officials from the Wuhan Airport Economic and Technological Development Zone highlighted the area's potential as an industrial city, a cybersecurity hub, and an investment destination, emphasizing the commitment to providing a favorable business environment [3][5] - The region's strategic advantages include strong national brand value, diverse operational scenarios, and a supportive industrial ecosystem, which are key factors attracting enterprises to the National Cybersecurity Base [5] Group 3: Collaborative Innovations - CloudWalk Technology, a key partner in the National Cybersecurity Base, has been driving collaborative innovation between artificial intelligence and cybersecurity since establishing its headquarters in Central China [7] - The company has secured a project for the expansion of the Cybersecurity Base's intelligent computing center, focusing on building an AI public computing platform and a cybersecurity model application platform [7] Group 4: Enterprise Engagement - During the event, entrepreneurs engaged in discussions regarding the industrial system and key development directions of the Wuhan Airport Economic and Technological Development Zone, as well as policies and incentives available for businesses [7]

Core Viewpoint - The average utilization rate of domestic TFT-LCD panel manufacturers in China is expected to drop below 80% in Q2 2025, indicating a potential decline in production efficiency and market demand [1]. Group 1: Production Capacity - The latest production capacity list for China's G4.5 to G6 LCD panel production lines is provided, reflecting the current manufacturing capabilities [2]. - The production capacity for G8.5 to G11 LCD panel production lines in China is also detailed, showcasing the broader manufacturing landscape [3]. Group 2: Utilization Rate Statistics - Q1 2025 statistics reveal the average utilization rate of LCD production lines in mainland China, highlighting the performance of various manufacturers [3]. - Specific utilization rates for major manufacturers such as BOE, CSOT, TM, HKC, and CHOT in Q1 2025 are included, offering insights into individual company performance [3]. Group 3: Future Predictions - A forecast for the global and mainland China LCD panel manufacturers' utilization rates in Q2 2025 is presented, suggesting a downward trend in production activity [1].

Core Viewpoint - BOE Technology Group Co., Ltd. reported a significant recovery in its financial performance for 2024, with a revenue increase of 13.66% and a net profit surge of 108.97% compared to the previous year, indicating a rebound from a substantial decline in 2023 [1][4]. Financial Performance - In 2024, BOE achieved total revenue of 198.38 billion yuan, up from 174.54 billion yuan in 2023, marking a 13.66% year-on-year growth [1][3]. - The net profit attributable to shareholders reached 5.32 billion yuan, a remarkable increase of 108.97% compared to a net profit decline of 66.22% in 2023 [1][4]. Business Segments - The display device segment generated revenue of 165.00 billion yuan, accounting for 83.18% of total revenue, with a year-on-year growth of 12.55% driven by a rebound in LCD panel demand and large-size TV products [1][3]. - The Internet of Things (IoT) innovation business reported revenue of 33.83 billion yuan, representing 17.05% of total revenue, with a slight growth of 0.11% [2][3]. - The MLED direct display business saw a significant revenue increase of 49.76%, reaching 8.48 billion yuan, contributing 4.28% to total revenue [2][3]. - The sensor business generated 386.47 million yuan, a decrease of 4.58% year-on-year, while the smart medical engineering business achieved 1.84 billion yuan, growing by 9.73% [2][3]. Market Performance - In the Chinese mainland market, revenue was 99.52 billion yuan, accounting for 50.17% of total revenue, with a year-on-year growth of 23.57% [3]. - Revenue from other regions was 98.86 billion yuan, making up 49.83% of total revenue, with a growth of 5.17% [3]. Research and Development - BOE's R&D expenses reached 13.1 billion yuan in 2024, reflecting a year-on-year increase of 15.94% [4]. Future Outlook - The company anticipates a revenue growth of over 10% in Q1 2025, aiming for a historical high for first-quarter revenue, with net profit projections between 1.6 billion to 1.65 billion yuan, indicating a growth of over 60% [4]. - The LCD business is expected to benefit from the "old-for-new" policy in the Chinese market, while flexible AMOLED business is projected to improve despite traditional seasonal slowdowns [4]. Industry Position - According to RUNTO, BOE remains the leading manufacturer in the global large-size LCD TV panel market, with an annual shipment of approximately 59.7 million units, achieving a market share of 25.2% [5][6].

Financial Performance and Shareholder Returns - In 2024, the company plans to distribute cash dividends of 18.7 billion RMB, accounting for 35% of the net profit attributable to the parent company [3][36] - The company aims to repurchase and cancel shares worth between 15 billion to 20 billion RMB annually [3][36] - From 2015 to 2024, the company has implemented cash dividends for 10 consecutive years, totaling nearly 22 billion RMB [3][37] - The company has repurchased A shares for over 5.6 billion RMB and B shares for nearly 1 billion HKD from 2020 to 2024 [3][37] Depreciation and Cash Flow - In 2024, the company's depreciation is expected to be approximately 38 billion RMB, with an increase anticipated due to new projects being put into operation [2] - The net cash flow from investment activities remains high, projected to exceed 30 billion RMB in 2024 [5][6] Strategic Development and Market Position - The company is focusing on the "Screen and IoT" strategy, aiming to integrate more functionalities into displays and expand into various application scenarios [7][8] - The company has established a "1+4+N+Ecosystem" development framework, emphasizing semiconductor display as the core capability [8][9] - The company is actively pursuing high-potential areas such as IoT innovation, sensing, MLED, and smart medical engineering [9][10] Market Trends and Product Development - The global automotive display panel shipment is expected to reach 230 million units in 2024, with a year-on-year growth of 6.3% [31] - The company aims to produce 1.7 billion OLED units in 2025, up from 1.4 billion in 2024 [32] - The company has successfully launched Micro LED products, achieving high brightness and contrast ratios, and plans to continue expanding this technology [28][55] Risk Management and Market Adaptation - The company has a robust risk management mechanism to address potential market challenges, including a dedicated team for monitoring risks [26][34] - The direct export to the US is minimal, thus limiting the impact of US tariffs on the company's operations [19][24] Innovation and Future Outlook - The company is committed to advancing technologies such as Micro LED and exploring new applications in the healthcare sector [28][55] - The company is optimistic about the future of the semiconductor display industry, focusing on sustainable growth and technological advancements [47]

Group 1: Industry and Market Overview - The international trade environment's uncertainty is affecting North American market demand, while domestic demand is stimulated by the "trade-in" policy, accelerating the trend towards larger LCD TVs and upgrading product structures to mid-to-high end [1][2] - Panel manufacturers are adhering to a "demand-driven production" strategy, adjusting production line utilization rates based on market demand, leading to a healthy inventory level in the industry [1][2] Group 2: Company Performance - In 2024, the company achieved a revenue of CNY 198.38 billion, representing a year-on-year growth of 13.66% [5] - The company maintains its leading position in the semiconductor display field, with global first-place shipments in five application areas: smartphones, tablets, laptops, monitors, and TVs [3] - R&D investment reached CNY 13.2 billion in 2024, a 16% increase year-on-year, accounting for nearly 7% of revenue [5] Group 3: Shareholder Returns - From 2015 to 2024, the company has implemented cash dividends for ten consecutive years, totaling nearly CNY 22 billion [6] - The company plans to distribute at least 35% of the net profit attributable to the parent company as cash dividends annually from 2025 to 2027 [7] - In 2024, the company intends to distribute CNY 1.87 billion in cash dividends, which is 35% of the consolidated net profit [7] Group 4: Product and Technology Innovations - The company has launched the world's first foldable screen and continues to lead in high-end TV innovations with its UB Cell technology [3][4] - As of 2024, the company has filed over 100,000 patents, with more than 90% being invention patents [3] Group 5: Future Outlook and Challenges - The average utilization rate of the LCD industry has been above 80% since Q1 2025, but is expected to be adjusted based on demand fluctuations [9] - The company aims to achieve a shipment target of 170 million flexible AMOLED units in 2025, building on a shipment of approximately 140 million units in 2024 [10]

第三届钙钛矿材料与器件产业发展论坛 5月23日-24日 江苏 · 苏州 主办单位 中国科学院 宁波材料技术与工程研究所 光电信息材料与器件实验室 华中科技大学武汉光电国家研究中心 DT新材料 协办单位 苏州大学 武汉九曜光电科技有限公司 大会主席 叶继春 中科院宁波材料所光电信息材料与器件实验室主任，研究员 陈 炜 华中科技大学教授，武汉九曜光电科技有限公司创始人 时间地点 05月23日-24日 江苏 · 苏州 赞助及鸣谢单位 昆山协鑫光电材料有限公司 通威太阳能（成都）有限公司 脉络能源科技有限公司 莱茵检测认证服务（中国）有限公司 苏州尚柔新能源有限公司 正泰新能科技股份有限公司 合肥京东方光能科技有限公司 大正微纳科技有限公司 苏州市鸿正智能科技有限公司 九江市柔烁光电科技有限公司 合作媒体 DT新材料、DT半导体、海洋清洁能源资讯、Carbontech、夯邦、洞见热管理、DT新能源、钙钛矿光 伏前沿、知光谷、钙钛矿材料与器件、钙钛矿坊、钙钛矿太阳能电池之基石搭建、钙钛矿人、钙钛矿材 料与应用、钙钛矿视界、柔性钙钛矿光伏进展、清新电源、钙钛矿与opv薄膜太阳能、钙钛矿电池稳定 性、 晶硅电池学习笔记、 ...

由 中国科学院宁波材料技术与工程研究所光电信息材料与器件实验室 、 华中科技大学武汉光电国家 研究中心 联合 DT新材料主办 ， 第三届钙钛矿材料与器件产业发展论坛 即将于5月23-24日在苏州 召开。 论坛将聚焦于 柔性钙钛矿光伏 、 钙钛矿叠层 ，以及由 柔性钙钛矿所衍生出的前沿消费电子领域 （ 如智能物联、可穿戴设备等室内弱光环境应用） ， 针对实际落地过程中面临的诸多问题及 技术难点 展开深入探讨。 大会邀请了 叶继春、陈炜、周欢萍、易陈谊、 徐雪青、 王睿、胡笑添、钟宇飞 等长期致力于产学研 一体的教授专家，以及 协鑫、通威、正泰 等叠层领域龙头代表企业， 脉络、尚柔、大正微纳、柔烁 光电 等一众柔性领域新兴领先企业也将会发表主题报告。 欢迎报名交流，加速钙钛矿迈向未来 【DT新材料】 获悉，近日，有投资者在互动平台上向京东方A询问钙钛矿业务方向进展情况， 京东方 有关负责人表示，在战略升维"第N曲线"理论指导下，公司已布局钙钛矿光伏与玻璃基封装业务，并已 取得阶段性成果；此外，持续深化"AI+"战略，强化多模式产品创新，助力工业制造与运营管理升级。 京东方目前已建成25mm*25mm手套箱实验室， ...

Group 1 - The Tonghuashun Fruit Index concept declined by 1.38%, ranking among the top declines in the concept sector, with companies like Lens Technology, Lante Optics, and Changying Precision experiencing significant drops [1][2] - Among the stocks in the Tonghuashun Fruit Index, only two stocks saw price increases, with Zhongshi Technology and BOE A rising by 2.20% and 0.26% respectively [1][2] Group 2 - The concept sectors with the highest gains today included Supply and Marketing Cooperatives (+3.93%), Cross-Border Payment (CIPS) (+3.65%), and Glyphosate (+3.57%), while the China AI 50 and Nvidia concept saw declines of -2.09% and -1.48% respectively [2] - The Tonghuashun Fruit Index experienced a net outflow of 587 million yuan from main funds, with 14 stocks seeing net outflows, and five stocks experiencing outflows exceeding 50 million yuan [2] - The stock with the highest net outflow was Luxshare Precision, with a net outflow of 184 million yuan, followed by Goer Technology and Lingyi iTech with outflows of 165 million yuan and 61.8 million yuan respectively [2][3]