维信诺科技股份有限公司 2025 年半年度财务报告 维 信 诺 科 技 股 份 有 限 公 司 Visionox Technology Inc. 半年度报告是否经过审计 □是 否 公司半年度财务报告未经审计。 二、财务报表 财务附注中报表的单位为：元 1、合并资产负债表 编制单位：维信诺科技股份有限公司 2025 年半年度财务报告 2025 年 8 月 1 维信诺科技股份有限公司 2025 年半年度财务报告 一、审计报告 2025 年 06 月 30 日 单位：元 | 项目 | 期末余额 | 期初余额 | | --- | --- | --- | | 流动资产： | | | | 货币资金 | 6,505,243,383.59 | 5,738,738,833.88 | | 结算备付金 | | | | 拆出资金 | | | | 交易性金融资产 | 237,354,985.10 | 164,499,006.11 | | 衍生金融资产 | | | | 应收票据 | 7,490,720.72 | 37,936,081.27 | | 应收账款 | 3,381,233,095.53 | 2,836,704,842.09 | ...

证券代码：002387 证券简称：维信诺 公告编号：2025-084 维信诺科技股份有限公司 关于拟开展应收账款保理业务的公告 根据《深圳证券交易所股票上市规则》《深圳证券交易所上市公司自律监管 指引第 1 号——主板上市公司规范运作》等法律法规和《公司章程》的规定，本 事项不构成关联交易，在公司董事会审批权限范围内，无需提交公司股东大会审 议。 本次交易不构成关联交易，亦不构成《上市公司重大资产重组管理办法》规 定的重大资产重组，不需要相关政府部门审批。 一、保理业务的主要内容 1、合作机构：拟开展保理业务的合作机构为商业银行、商业保理公司等具 备相关业务资格的机构。具体根据资金成本、服务能力等综合因素审慎选择。 2、额度有效期：自本次董事会审议通过之日起 12 个月内有效，具体每笔保 理业务期限以单项保理合同约定期限为准。 3、保理融资额度：不超过人民币 17 亿元（在业务期限内循环使用）。 4、保理方式：应收账款债权有追索权或无追索权保理方式。 5、保理融资的利率、利息及手续费用以保理融资相关合同记载的为准。 二、主要责任及说明 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，无虚 假记载、误 ...

维信诺科技股份有限公司 2025 年半年度非经营性资金占用及其他关联资金往来情况汇总表 单位：万元 非经营 性资金 占用 资金占用方名称 占用方与 上市公司 的关联关 系 上市公司 核算的会 计科目 2025 年期 初占用资 金余额 2025 年半年 度占用累计发 生金额（不含 利息） 2025 年半 年度占用 资金的利 息（如有） 2025 年半 年度偿还累 计发生金额 2025 年半 年度期末 占用资金 余额 占用形成原 因 占用性质 控股股 东、实际 控制人 及其附 属企业 非经营性 占用 小计 — — — — — — — — — — 前 控 股 股东、实 际 控 制 人 及 其 附 属 企 业 非经营性 占用 小计 — — — — — — — — — — | 其他关 | | | | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 联方及 | | | | | | | | | | 非经营性 | | 其附属 | | | | | | | | | | | | | | | | | | | | | ...

证券代码：002387 证券简称：维信诺 公告编号：2025-082 维信诺科技股份有限公司 第七届监事会第二十次会议决议公告 经核查，监事会认为：公司及子公司开展应收账款保理业务，有利于加速 资金周转，保障公司日常经营资金需求，有利于公司的业务发展，符合公司发展 规划，不存在损害公司及股东特别是中小股东利益的情形。 一、监事会召开情况 维信诺科技股份有限公司（以下简称"公司"）第七届监事会第二十次会议 （以下简称"会议"）通知于2025年8月12日以电子邮件及专人通知的方式发出， 会议于2025年8月21日下午在北京市海淀区上地东路1号院7号楼环洋大厦二层 会议室以现场结合通讯表决的方式举行。会议应出席监事3名，实际出席的监事 3人，会议由公司监事会主席任华女士主持，公司董事会秘书列席了会议。本次 会议的召集和召开符合有关法律、行政法规、部门规章、规范性文件和《公司 章程》的规定，所作决议合法有效。 二、监事会审议情况 1. 会议以3票同意，0票反对，0票弃权审议通过了《关于公司<2025年半年 度报告>及其摘要的议案》 监事会认为：公司董事会编制和审议公司《2025年半年度报告》和《2025 年半年度报告 ...

维信诺科技股份有限公司（以下简称"公司"或"维信诺"）第七届董事 会第二十二次会议（以下简称"会议"）通知于2025年8月12日以电子邮件及专 人通知的方式发出，会议于2025年8月21日下午在北京市海淀区上地东路1号院7 号楼环洋大厦二层会议室以现场结合通讯表决的方式举行。会议由公司董事长 张德强先生主持，应出席董事7名，实际出席的董事7人，公司部分监事、高级 管理人员和董事会秘书列席了会议。会议的召集和召开符合有关法律、行政法 规、部门规章、规范性文件和《公司章程》的规定，所作决议合法有效。 二、董事会审议情况 1. 会议以7票同意，0票反对，0票弃权，审议通过了《关于公司<2025年半 年度报告>及其摘要的议案》 证券代码：002387 证券简称：维信诺 公告编号：2025-081 维信诺科技股份有限公司 第七届董事会第二十二次会议决议公告 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，无虚 假记载、误导性陈述或者重大遗漏。 一、董事会召开情况 具体内容详见公司同日在《证券时报》《证券日报》《中国证券报》《上海 证券报》和巨潮资讯网（www.cninfo.com.cn）披露的《关于拟开展应收 ...

Group 1 - The core viewpoint of the article highlights the rapid development and innovation in the display industry, particularly in the automotive display sector, driven by significant market demand and technological advancements [1][15][16] - The automotive display market is becoming a key battleground for panel manufacturers, with a projected shipment of 196.7 million units in 2024, representing a nearly 10% year-on-year growth, and an expected increase to over 200 million units in 2025 [15][16] - Major panel manufacturers such as BOE, TCL Huaxing, and Visionox showcased a variety of automotive display applications at the DIC 2025, including central control screens, head-up displays, and entertainment screens, utilizing technologies like LCD, OLED, Mini LED, and Micro LED [2][11][12][18] Group 2 - The trend towards larger, high-definition televisions continues, with consumer preference shifting towards sizes of 65 inches, 75 inches, and beyond, which not only absorbs more panel capacity but also enhances profitability for manufacturers [17][19] - Companies like Huike and TCL Huaxing presented large-screen televisions at the exhibition, including an 116-inch RGB Mini LED LCD TV and a 100-inch 360Hz LCD TV, indicating a focus on high resolution and refresh rates to improve display quality [19][24] - The domestic supply chain is actively preparing for the G8.6 generation OLED panel production lines, with local companies advancing core materials and equipment to reduce reliance on imports and enhance production efficiency [26][27] Group 3 - AI technology is increasingly integrated into the display industry, enhancing product quality and performance across various stages of development, production, and interaction [28][29] - Companies like BOE and TCL Huaxing are leveraging AI to optimize manufacturing processes, improve yield rates, and reduce production cycle times, demonstrating the potential of AI to reshape the display industry [29][38] - The integration of AI is driving the development of new display technologies tailored to meet the demands of applications in automotive, mobile, and AR/VR sectors, showcasing the versatility and future potential of AI in the display market [38]

Core Viewpoint - The DIC 2025 exhibition highlighted the growing importance of automotive display applications, showcasing innovations from various panel manufacturers and upstream suppliers in response to increasing market demand for vehicle displays [1][2][10]. Group 1: Exhibition Overview - The DIC 2025 exhibition took place from August 7 to 9 in Shanghai, featuring over 300 renowned companies from the display industry, covering various segments such as display panels, upstream materials, core equipment, and terminal applications [1]. - Automotive displays emerged as a key highlight, with major manufacturers like BOE, TCL Huaxing, and Visionox showcasing a range of applications including central control screens, head-up displays, and entertainment screens using technologies like LCD, OLED, Mini LED, and Micro LED [2]. Group 2: Market Demand and Growth - The automotive industry's shift towards electrification, intelligence, connectivity, and sharing is driving an increasing demand for display screens, evolving from single central control screens to multi-screen interactions and full-scene integration [10]. - According to TrendForce, the shipment volume of automotive panels is expected to reach 196.7 million units in 2024, marking a nearly 10% year-on-year growth, with projections for 2025 to exceed 200 million units, reaching 208.9 million units [10]. Group 3: Upstream Supplier Innovations - Upstream suppliers are responding to the rising demand for automotive displays, providing new opportunities for panel manufacturers beyond traditional consumer electronics [11]. - Companies like TuoMi Group showcased high-precision folding hinge products, utilizing advanced materials such as carbon fiber and titanium alloy to enhance strength and reduce weight [13]. - Chengdu TuoMi's breakthroughs in ultra-thin flexible glass (UTG) technology have improved bending performance, addressing traditional manufacturing defects, and are being developed for automotive applications [13]. - Sichuan Hongke Innovation Technology presented various automotive display glass products, including environmentally friendly high-aluminosilicate glass, which has been adopted by several automotive brands [14][16]. Group 4: Industry Trends and Future Outlook - The DIC exhibition indicated a collaborative effort among display panel manufacturers and upstream suppliers to enhance automotive display solutions, contributing to the industry's evolution towards more advanced and multifunctional display products [20]. - The ongoing investments and innovations in the automotive display sector suggest a promising future, with expectations for more comprehensive solutions to emerge in subsequent exhibitions, further supporting the automotive industry's transition towards new technologies [20].

Core Insights - The global AMOLED smartphone panel shipment is projected to reach approximately 420 million units in the first half of 2025, reflecting a slight year-on-year increase of 0.2%, indicating a resilient growth trend despite economic and geopolitical challenges [1] - Chinese manufacturers accounted for 51.7% of the global AMOLED smartphone panel market share in the first half of 2025, marking a 1 percentage point increase year-on-year, while South Korea's share decreased to 48.3%, down 1 percentage point [1] Market Dynamics - Samsung Display's (SDC) AMOLED panel shipments declined by 6.3% year-on-year, with its market share dropping from 43.8% to 40.9%, indicating a loss of competitiveness in the mid-to-low-end flexible screen market due to cost advantages from Chinese manufacturers [3] - BOE's shipments increased by 6.7% year-on-year, securing a 17.1% market share, up 1 percentage point, supported by a dual strategy of "high-end breakthroughs and mid-range expansion" [3] - Tianma's shipments grew by 16.6% year-on-year, achieving a market share of 10.8%, the largest increase among domestic manufacturers [3] - CSOT's shipments rose by 4.9% year-on-year, with a market share of 10.2%, benefiting from deep collaborations with domestic brands like Xiaomi [3] Quarterly Performance - In Q2 2025, global AMOLED smartphone panel shipments were approximately 210 million units, reflecting a year-on-year decline of 6.3% and a quarter-on-quarter decline of 1.4%, primarily due to adjustments in brand procurement schedules [5] - South Korea's market share in Q2 2025 was 47.4%, down 4.3 percentage points year-on-year, while domestic manufacturers' share rose to 52.6%, continuing to show strong growth [6] - SDC's shipments in Q2 2025 fell by 17.4% year-on-year, with a market share of 40.8%, down 5.4 percentage points, facing significant challenges to its leading position [6] - BOE achieved a year-on-year growth of 9.6% in Q2 2025, with a market share of 17.3%, up 2.5 percentage points [6] - Tianma's shipments increased by 13.3% year-on-year, with a market share of 11.1%, driven by capacity release from its Xiamen G6 production line [6]

Core Viewpoint - Visionox plans to order vapor deposition equipment from Canon Tokki for its 6th generation OLED V2 line expansion, aiming to double its monthly production capacity from 15K to 30K units [1][2]. Group 1: Production Capacity and Equipment - The current monthly production capacity of the existing V2 line is 15K units, and Visionox intends to expand this to 30K units [2]. - The V2 line has been using Canon Tokki's vapor deposition equipment, and it is likely that the same equipment will be used for the expansion to avoid process discrepancies [2]. - Visionox's production lines include the 5.5 generation V1 line (15K/month), the 6th generation V2 line (15K/month), and the 3rd generation V3 line (30K/month) [2]. Group 2: Market Dynamics and Technology - The operating rate of China's 6th generation OLED production lines is currently high, recovering from previous low rates due to over-investment [3]. - The decline in OLED product prices has led to increased utilization rates, as smartphone manufacturers have shifted to low-cost OLEDs, making it difficult to revert to LCDs due to consumer preferences [3]. - Visionox's V5 line is expected to use ViP vapor deposition equipment from Applied Materials' subsidiary AKT, as the 6th generation ViP pilot line has already utilized AKT's equipment [3]. Group 3: Technology Implementation - In the V5 line, one-quarter of the 8K monthly production will prioritize ViP technology, while the remaining three-quarters may use FMM technology, although specific investment execution details and timelines remain unclear [5].

Core Viewpoint - The completion of the main plant for the 8.6-generation AMOLED production line in Hefei marks a significant advancement in the mass production of the ViP technology, which is a breakthrough in AMOLED manufacturing [4]. Group 1: Project Overview - The 8.6-generation AMOLED production line is located in Hefei New Station High-tech Zone and is constructed and operated by Hefei Guoxian, which is funded by Visionox and Hefei's investment platform [4]. - The total investment for the production line is 55 billion yuan, with a designed capacity of 32,000 glass substrates per month (2290mm × 2620mm) [4]. - The main plant was topped out in just 168 days since the civil construction began in February 2025 [4]. Group 2: Technology and Advantages - The production line utilizes Visionox's self-developed ViP technology, which employs semiconductor photolithography to produce AMOLED pixels, eliminating the limitations of traditional FMM processes [4]. - ViP technology offers independent pixels, high precision, and high yield, significantly improving the cutting efficiency and cost-effectiveness of AMOLED panels [4]. - This technology aims to provide more solutions for the mid-to-large size high-end display markets, including tablets, laptops, and automotive displays [4].