关于为控股子公司提供担保的进展公告 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。 特别提示： 截至目前，维信诺科技股份有限公司（以下简称"公司"）及控股公司对外担 保总额（含对合并报表范围内子公司担保）已超过公司最近一期经审计净资产的 100%，担保金额超过公司最近一期经审计净资产的 50%，公司对合并报表外单 位担保金额超过最近一期经审计净资产的 30%，敬请广大投资者注意投资风险。 一、担保情况概述 公司分别于 2025 年 3 月 20 日和 2025 年 4 月 10 日召开第七届董事会第十七 次会议和 2024 年度股东大会，审议通过了《关于 2025 年度为公司及子公司提供 担保额度预计的议案》，同意公司 2025 年度为控股子公司云谷（固安）科技有 限公司（以下简称"固安云谷"）、控股孙公司昆山国显光电有限公司、全资孙 公司昆山工研院新型平板显示技术中心有限公司、全资孙公司江苏汇显显示技术 有限公司和公司提供总额度不超过人民币 226.2 亿元的担保。担保额度有效期为 公司 2024 年度股东大会审议通过之日起的 12 个月内。具体内容详见公司 ...

Core Viewpoint - The article highlights the remarkable journey of China's OLED industry from its inception to becoming a global leader, emphasizing the importance of innovation and perseverance in overcoming technological challenges and market barriers [2][9]. Group 1: Historical Development - Thirty years ago, the Chinese display panel industry faced significant challenges, with a heavy reliance on imports and a lack of domestic technology [3][4]. - The establishment of the OLED project at Tsinghua University marked the beginning of China's efforts to develop its own display technology, starting with minimal funding and resources [4][5]. - In 2008, the successful establishment of a PMOLED production line by Visionox signified the initial scaling of China's OLED industry [5][6]. Group 2: Technological Advancements - The transition from basic OLED production to advanced AMOLED technology involved overcoming significant engineering challenges, particularly in achieving the precision required for pixel manufacturing [6][7]. - By 2025, Visionox is projected to lead global AMOLED panel shipments, with substantial investments and multiple production lines established [6][7]. - The introduction of the G8.6 generation ViP AMOLED production line represents a revolutionary advancement in display technology, allowing for unprecedented pixel resolution and brightness [7][8]. Group 3: Ecosystem Development - The current phase of the OLED industry involves moving from being mere producers to defining the ecosystem of display technology, integrating applications across various sectors such as smart vehicles and IoT [8][9]. - Visionox's innovative development model combines academic research, enterprise transformation, and government support, facilitating rapid technology commercialization and industry advancement [8][9]. - The establishment of a collaborative ecosystem among industry players is crucial for sustaining innovation and expanding the market for OLED technology [8][10]. Group 4: Future Outlook - The future of the OLED industry is tied to advancements in AI and 6G technology, with expectations for ubiquitous display interfaces that enhance human interaction with technology [9][11]. - The ongoing challenges reflect a broader narrative of China's high-end manufacturing sector striving for leadership in global technology innovation [9][10].

Core Viewpoint - The Chinese display industry has transitioned from a reliance on imported technology to becoming a global leader in the OLED panel market, with a focus on achieving self-sufficiency in high-end technology and supply chains [1][20]. Group 1: Industry Development - The Chinese OLED panel shipment share is projected to reach 48.8% by 2025, nearly matching South Korea's share, but there is still room for improvement in core equipment and processes for large-sized high-end markets [1][3]. - The competition in high-generation lines is crucial for penetrating the mid-to-large size market, with two main technological paths: traditional evaporation using Fine Metal Masks (FMM) and the "no FMM" route [3][4]. - The traditional evaporation process is currently dominated by overseas suppliers, leading to high costs and dependency issues for panel manufacturers [4][5]. Group 2: Technological Innovation - The introduction of ViP technology by Visionox represents a significant shift in OLED manufacturing, replacing traditional evaporation methods with semiconductor lithography, thus eliminating reliance on FMM [7][10]. - ViP technology enhances pixel independence and significantly increases effective luminous area from 29% to 69%, improving lifespan and brightness metrics [10][12]. - The ViP production line offers flexible manufacturing capabilities, allowing for a wide range of products and custom screen shapes, thus enhancing market adaptability [12][14]. Group 3: Industry Ecosystem - Visionox's advancements in ViP technology mark a transition from following to leading in high-end OLED technology, establishing a critical testing ground for domestic equipment and materials [14][15]. - The company has developed a comprehensive innovation system that integrates basic research, pilot testing, and mass production, fostering a new industrial chain [15][17]. - The shift in focus from scale expansion to value creation and ecosystem building reflects the evolving logic of the Chinese display industry, as seen in Visionox's practices [17][20].

Core Viewpoint - China is entering the semiconductor glass substrate market, intensifying competition with established players from South Korea, Taiwan, Japan, and the United States [1][2] Group 1: Market Entry and Competition - Visionox, one of China's leading display companies, plans to invest in glass substrates this year, having built a supply chain since last year [1] - AKM Midville, a top 20 global PCB company, is preparing to supply glass substrates and has established a trial production line [1] - Uncheon Semiconductor is also developing its supply chain for semiconductor glass substrates, leveraging its technical expertise [1] Group 2: Technological Adoption and Growth Potential - Glass substrates are gaining attention as they replace traditional plastic materials, enhancing semiconductor packaging performance, particularly in AI semiconductor applications [2] - BOE, a leading Chinese display manufacturer, has launched a semiconductor glass substrate business to leverage its expertise in the display industry [2] - Industry insiders indicate that companies are viewing glass substrates as future growth engines, planning significant investments based on their knowledge in the glass sector [2] Group 3: Competitive Advantages - Chinese companies are expected to leverage their financial strength and rapid response capabilities to gain market advantages [3] - They are actively addressing technical challenges, such as micro-cracks in glass substrates, which may lead to cost advantages in future commercialization [3]

（文章来源：证券日报） 证券日报网讯 1月16日，维信诺在互动平台回答投资者提问时表示，截至2026年1月9日，公司股东总户 数为66549户。 ...

（文章来源：证券日报） 证券日报网讯 1月15日，维信诺发布公告称，公司预计2025年度归属于上市公司股东的净利润为负值， 公司2025年度的经营业绩将出现亏损。 ...

Group 1 - The company, Visionox, announced that it will hold its second extraordinary general meeting of shareholders on February 3, 2026 [2]

（编辑 任世碧） 证券日报网讯 1月15日，维信诺发布公告称，公司第七届董事会第三十次会议审议通过《关于聘任公司 董事会秘书的议案》《关于修订及制定公司部分治理制度的议案》《关于召开2026年第二次临时股东会 的议案》。 ...

Group 1 - Siyuan Electric reported a total operating revenue of 21.205 billion yuan for 2025, a year-on-year increase of 37.18%, with a net profit attributable to shareholders of 3.163 billion yuan, up 54.35% year-on-year [1] - VisiOn expects a negative net profit for 2025, indicating a loss in operating performance [2] - Chongqing Steel anticipates a net loss of 2.5 billion to 2.8 billion yuan for 2025, which is an improvement from a net loss of 3.196 billion yuan in the previous year [3] - Lianfa Co. forecasts a net profit of 280 million to 320 million yuan for 2025, representing a year-on-year growth of 38.92% to 58.77% [4] Group 2 - CICC announced that the audit work related to the absorption merger with Dongxing Securities and Xinda Securities has not yet been completed [5] - Dalong Real Estate's subsidiary won a project bid worth 763 million yuan [6] - Zhongchuang Zhiling plans to issue convertible bonds to raise no more than 4.35 billion yuan for various projects [7] - Jintong Co. intends to acquire a 24% stake in Jinsha Molybdenum for 1.731 billion yuan [8] Group 3 - Nami Technology expects a net profit of 128 million to 145 million yuan for 2025, an increase of 54.51% to 75.03% year-on-year [9] - China State Construction reported a new contract total of 4.5458 trillion yuan for 2025, a 1% increase year-on-year [12] - China Metallurgical Group's new contract amount for 2025 is expected to decrease by 10.8% to 1.1136 trillion yuan [13] Group 4 - Beiding Co. reported a net profit of 111 million yuan for 2025, a year-on-year increase of 59.05% [14] - Southwest Securities expects a net profit of 1.028 billion to 1.098 billion yuan for 2025, an increase of 47% to 57% [15] - China Eastern Airlines reported a 4.93% year-on-year increase in passenger capacity for December 2025 [20] Group 5 - *ST Aowei's stock may be delisted due to a closing price below par value [21] - Yilian Network expects a net profit of 2.542 billion to 2.648 billion yuan for 2025, a decrease of 0% to 4% year-on-year [22] - Huochen Co. anticipates a net profit of 420 million to 540 million yuan for 2025, recovering from a loss of 2 million yuan in the previous year [17] Group 6 - Guoli Electronics expects a net profit of 68 million to 80 million yuan for 2025, an increase of 124.89% to 164.57% [28] - Jinchuan Group forecasts a net profit of 11 billion to 12 billion yuan for 2025, a year-on-year increase of 73.57% to 89.34% [41] - Triangle Tire plans to invest 3.219 billion yuan in a new tire project in Cambodia [42]

Monetary Policy - The People's Bank of China indicates that there is still room for reserve requirement ratio and interest rate cuts this year, with the current average reserve requirement ratio at 6.3% [1] - As of the end of December, the broad money supply (M2) reached 340.29 trillion yuan, reflecting an 8.5% year-on-year increase [1] Securities and Financing - Some brokerage firms are experiencing tight margin financing quotas, although major brokerages report sufficient funds [2] - Recent weeks have seen significant inflows into FOF products sold by fund companies through banks, with one company reporting over 200 million yuan in inflows [2] Automotive Industry - The price of entry-level LiDAR has dropped to around 1,000 to 3,000 yuan, which may enhance the adoption of traditional LiDAR in vehicles [3] - The demand for computing power in the automotive and autonomous driving sectors is expected to see a significant surge, potentially expanding tenfold with the rollout of L3 technology [3] Technology and Electronics - Global smartphone shipments are projected to reach 1.25 billion units in 2025, marking a 2% year-on-year increase, driven by seasonal demand and improved inventory management [4] - DRAM prices are rising due to suppliers hoarding inventory, with mainstream DDR4 prices increasing by approximately 9.64% [4] Corporate Developments - Vanke has proposed four debt restructuring plans, including options for full extension or partial repayment of principal, with a maximum of 40% principal repayment [4] - Longfor is seeking a valuation of approximately $30 billion for its Watsons retail subsidiary in an upcoming IPO [5] - Baoneng Automotive is reportedly facing a sales halt, with no vehicles available for sale [5] Financial Performance - China State Construction reported a 1% year-on-year increase in new contract value for 2025, totaling 45.458 trillion yuan [14] - China Metallurgical Group's new contract value for 2025 decreased by 10.8% year-on-year, totaling 1.1136 trillion yuan [15] - Siyuan Electric's net profit for 2025 is expected to grow by 54.35% year-on-year, reaching 3.163 billion yuan [16] - Chongqing Steel anticipates a net loss of 2.5 to 2.8 billion yuan for 2025, although this represents an improvement from the previous year's loss [18] Market Activity - The trading volume of the CSI 500 ETF exceeded 26.3 billion yuan, setting a historical record [22] - The Shanghai Composite Index fell by 0.33%, while the Shenzhen Component Index and the ChiNext Index saw gains [22][23]