Core Points - The company has signed an investment cooperation agreement with Kunshan Weixin Joint Investment Co., Ltd. to establish the Kunshan Global New Display Industry Innovation Center project [1] - The total investment amount for the project is expected to be approximately RMB 5 billion [1] - The registered capital of the project company will be RMB 2 billion, with the company contributing RMB 1.002 billion, accounting for 50.1%, and Kunshan Weixin contributing RMB 998 million, accounting for 49.9% [1] - After the completion of this capital increase, Suzhou Guoxian will remain a controlled subsidiary within the company's consolidated financial statements [1]

Group 1 - Huike has established Nanchong Huike Xinjing Display Technology Co., Ltd. with a registered capital of 2.223 billion RMB, focusing on semiconductor lighting devices and integrated circuits [3][4] - The company is jointly held by Nanchong Zhenqing Industrial Development Investment Fund and Huike, with Huike holding approximately 10.03% [4] Group 2 - Visionox has set up Gongrong Jintou No.2 (Suzhou) Equity Investment Fund Partnership with a total investment of 818 million RMB, focusing on private equity investment and asset management [5][6] - Visionox holds about 24.94% of the fund [5] Group 3 - Luxshare Precision has founded Litao Precision Intelligent Manufacturing (Kunshan) Co., Ltd. with a registered capital of 200 million RMB, focusing on electronic components manufacturing and retail [8][9] - The company is wholly owned by Luxshare's subsidiary Suzhou Litao Electronics [8] Group 4 - Lens Technology has established Lens Optoelectronics Technology (Changsha) Co., Ltd. with a registered capital of 100 million RMB, focusing on virtual reality device manufacturing and electronic components [11][12] - The company is fully owned by Lens Technology [11]

Core Viewpoint - The establishment of a new equity investment fund in Suzhou, co-funded by Weixinno and ICBC Capital Management, indicates a strategic move towards expanding investment activities in the private equity sector [1] Group 1: Company Involvement - Weixinno (002387) is one of the key contributors to the newly formed equity investment fund, highlighting its active role in private equity investments [1] - ICBC Capital Management is also a significant partner in the fund, showcasing its commitment to diversifying investment portfolios through equity investments [1] Group 2: Fund Details - The newly established fund, named Gongrong Jintou No. 2 (Suzhou) Equity Investment Fund Partnership (Limited Partnership), has a total investment amount of 818 million yuan [1] - The fund's operational scope includes private equity investment, investment management, and asset management activities, indicating a broad range of investment strategies [1]

Group 1 - The company has relocated its office address for operational management needs [1] - Previous office address was located at Beijing Haidian District, Shangdi East Road, No. 1, Building 7, Huanyang Building, 2nd Floor [1] - The new office address is now at Beijing Haidian District, Xiaoying West Road, No. 10, Heying Center, C Building, 3A Floor [1] Group 2 - The postal code for both the previous and new office addresses remains the same: 100085 [1] - The contact information for the company's board secretary and securities affairs representative has also changed accordingly [1] - Other contact methods for investors, including phone number, fax, website, and email, remain unchanged [1]

证券代码：002387 证券简称：维信诺 公告编号：2025-092 维信诺科技股份有限公司 办公地址：北京市海淀区上地东路 1 号院 7 号楼环洋大厦二层 邮政编码：100085 变更后： 办公地址：北京市海淀区小营西路 10 号和盈中心 C 座 3A 层 邮政编码：100085 公司董事会秘书和证券事务代表联系地址、信息披露及备置地点同时变更。 除上述变更外，公司其他联系方式均保持不变，投资者联系方式具体如下： 联系电话：010-58850501 关于变更公司办公地址的公告 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。 维信诺科技股份有限公司（以下简称"公司"）因经营管理需要，近日已 搬迁至新办公地址，现将相关事项公告如下： 变更前： 电子邮箱：IR@visionox.com 敬请广大投资者注意上述变更事项。 特此公告。 维信诺科技股份有限公司董事会 二〇二五年九月二十日 传真：010-58850508 网址：www.visionox.com ...

Group 1 - On September 17, Visionox's stock increased by 3.36%, with a trading volume of 439 million yuan [1] - The financing buy-in amount for Visionox on the same day was 44 million yuan, with a net financing buy-in of approximately 16.5 million yuan [1] - As of September 17, the total financing and securities lending balance for Visionox was 330 million yuan, accounting for 2.41% of its market capitalization [1] Group 2 - As of September 10, the number of shareholders for Visionox was 61,700, a decrease of 9.12% from the previous period [2] - For the first half of 2025, Visionox reported a revenue of 4.12 billion yuan, a year-on-year increase of 4.79%, while the net profit attributable to shareholders was -1.06 billion yuan, a year-on-year increase of 9.74% [2] - Visionox has distributed a total of 53.24 million yuan in dividends since its A-share listing, with no dividends distributed in the past three years [2]

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 - OLED technology is becoming a critical area of competition among display companies, with TCL Technology Group announcing a significant investment in a new production line to enhance its market position and product offerings [1][2]. Group 1: TCL Technology's Investment - TCL Technology, along with its subsidiary TCL Huaxing, has signed a project cooperation agreement with the Guangzhou government to build an 8.6-generation printed OLED display panel production line, with a total investment of approximately 29.5 billion yuan [1]. - The project, referred to as the "t8 project," will involve a joint capital contribution of 14.75 billion yuan, with TCL Huaxing contributing 8.85 billion yuan and local government entities contributing 5.9 billion yuan [1]. - The t8 project is expected to commence construction in November 2023, with a planned construction period of 24 months, aiming for a monthly processing capacity of about 22,500 glass substrates [2]. Group 2: Advantages of Printed OLED Technology - Printed OLED technology allows for high-precision application of liquid light-emitting materials, resulting in superior color performance, high resolution, and lower energy consumption and manufacturing costs [2]. - TCL Huaxing has been investing in printed OLED research since 2013, and the technology used in the t8 project is proprietary to the company [2]. Group 3: Market Trends and Competitors - The global competition in the display panel industry is increasingly focused on high-end OLED technology, with major players like BOE Technology Group and Visionox also announcing significant investments in similar production lines [2][3]. - BOE announced a 63 billion yuan investment in an 8.6-generation AMOLED production line, targeting the mid-size market, with plans to start product output by late 2024 [2]. - Samsung Display plans to invest 4.1 trillion won in an 8th generation IT OLED production line by 2026, indicating a competitive landscape dominated by Chinese and Korean companies [3].

Investment Rating - Industry investment rating: Overweight [1] Core Viewpoints - Samsung Display is set to start mass production of OLED panels for Apple's MacBook Pro by the end of Q2 2026 [4][8] - Domestic OLED production lines are being actively constructed, with a focus on large-sized IT applications, which is expected to expand the OLED market [5][6] - The demand for IT panels (monitors and laptops) is experiencing significant growth, driven by high-end product adoption and diversification among suppliers [6] Summary by Sections - **OLED Production and Market Penetration** - TCL Technology Group announced a joint investment to build an 8.6-generation printed OLED production line in Guangzhou, with a total investment of approximately RMB 29.5 billion [5] - According to Counterpoint Research, domestic OLED panels are expected to accelerate their penetration into the global market by Q2 2025, with Samsung Display holding a 37% market share [5] - **IT Panel Demand and Growth** - The demand for smartphones and TVs is stabilizing but remains weak compared to the same period last year, while IT panels are becoming a new growth engine for OLED [6] - The construction of 8.6-generation AMOLED production lines by BOE and Visionox will lay the foundation for future applications in IT-sized OLED [6] - **Investment Recommendations** - Key companies recommended in the panel detection equipment sector include Jingzhida, with other equipment companies such as Jingce Electronics and Aolide also highlighted [10]

Group 1 - The company, Visionox (002387), reported that as of September 10, 2025, the number of shareholders is 61,702 [1]