Group 1: Company Performance - The company achieved a revenue of 867 million yuan in the first three quarters of 2025, a year-on-year decrease of 8.41% [3] - The net profit attributable to shareholders was 8.87 million yuan, marking a year-on-year increase of 120.46% [3] - The company has implemented four phases of equity incentive measures, with the first three phases failing to meet performance requirements, leading to the cancellation of corresponding equity [7] Group 2: Market Trends and Projections - According to DISCIEN, the COB display technology is expected to enter large-scale commercial use in 2024, with a compound annual growth rate of over 20% from 2025 to 2029 [3][10] - By 2028, COB displays are projected to account for 45% of the small and micro-pitch market, with a global terminal market size expected to exceed 30 billion yuan [3][10] - Small-pitch LED displays (≤P2.5) currently occupy over 75% of the LED display market, with P1.2 and below accounting for over 35% [5] Group 3: Strategic Initiatives - The company is focusing on LED core business, continuing technological innovation, and enhancing product ecosystems to improve operational quality and profitability [4][15] - The company plans to expand its market presence by establishing offline experience stores in major cities and optimizing costs to make products more accessible [16] - The company is actively pursuing international market opportunities through a global operational strategy that includes a major client strategy and brand channel strategy [31] Group 4: Product Development and Innovations - The new "HD King Cold Screen Master" product has received positive market feedback, featuring advanced AI low-power cold screen technology [11] - The company is a co-builder of the 275-inch 8K ultra-high-definition Micro LED display for the Milan Winter Olympics, showcasing its capabilities in high-profile events [10] - The company has developed flexible LED screens primarily for large display applications, with no current plans for mobile phone applications [8] Group 5: Investor Relations and Market Perception - The company's stock market value is currently 3.2 billion yuan, raising concerns about potential undervaluation [7] - The company emphasizes the importance of effective communication with investors and compliance with information disclosure to enhance market perception [19][25] - The company has received various awards for its commitment to environmental protection and social responsibility, contributing to its overall market image [30]

本次活动将采用网络远程的方式举行，投资者可登录"全景路演"网站 （http://rs.p5w.net），或关注微信公众号：全景财经，或下载全景路演 APP， 参与本次互动交流，活动时间为 2025 年 11 月 20 日（周四）14:30-17:00。届 时公司部分董事、高级管理人员将在线就公司业绩、公司治理、发展战略、经营 状况和可持续发展等投资者关心的问题，与投资者进行沟通与交流，欢迎广大投 资者踊跃参与！ 特此公告！ 关于参加2025年度深圳辖区上市公司投资者 网上集体接待日活动的公告 本公司及董事会全体成员保证公告内容的真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 为进一步加强与投资者的互动交流，深圳雷曼光电科技股份有限公司（以下 简称"公司"）将参加由深圳证监局和中证中小投资者服务中心指导、深圳上市 公司协会与深圳市全景网络有限公司联合举办的"2025 年度深圳辖区上市公司 投资者网上集体接待日活动"，现将相关事项公告如下： 证券代码：300162 证券简称：雷曼光电 公告编号：2025-049 深圳雷曼光电科技股份有限公司 深圳雷曼光电科技股份有限公司 董 事 会 2025 年 11 ...

Core Viewpoint - The launch of "HD King Cold Screen Master" by Lehman Optoelectronics represents a significant technological advancement in the LED display industry, integrating multiple core technologies to address long-standing industry challenges such as high power consumption and insufficient stability [2][3]. Group 1: Product Features - The "HD King Cold Screen Master" utilizes an exclusive AI low-power cold screen system, achieving a 50% reduction in power consumption compared to similar products [2]. - The product features "Shadow AI Low Power Intelligent Display Technology," which optimizes power usage through intelligent algorithms [2]. - The "Intelligent Pressure Control Technology" minimizes heat generation, maintaining a surface temperature of only 29.5°C, lower than normal human body temperature [2]. - The "Black Bottom No-Damage Direct Display Technology" balances high surface blackness with 100% light transmittance, resulting in excellent contrast [2]. - The product boasts five core advantages: ultra-stability, ultra-high definition, ultra-energy efficiency, ultra-cooling, and ultra-comfort [2]. Group 2: Market Response and Growth Potential - As of the launch event, the pre-order area for the "HD King Cold Screen Master" exceeded 12,000 square meters, surpassing expectations and indicating strong market recognition [2]. - The exclusive pre-order incentives and guarantees from Lehman's domestic LED division have further stimulated market enthusiasm, leading to an increase in on-site order signings [2]. - Industry analysts suggest that the "HD King Cold Screen Master" could become a new growth engine for Lehman Optoelectronics, building on the success of previous PSE energy-saving cold screen products [3]. - The product's energy-saving breakthroughs and adaptability across various scenarios are expected to accelerate the commercialization of 8K technology, creating new growth opportunities within the industry [3]. - The chairman of Lehman Optoelectronics introduced "Eight Core Perception Dimensions," redefining user experience standards and providing a new framework for industry development [3].

Group 1 - The company is currently focused on the Micro LED large-size ultra-high-definition display business [2] - The products launched by the company, such as the Lehman conference all-in-one machine, education all-in-one machine, and ultra-high-definition home giant screen wall, are innovative products empowered by AI technology [2] - These products aim to provide users with a more intelligent, efficient, and exciting experience in meetings, teaching, and viewing [2]

Core Viewpoint - 雷曼光电 is a leader in Micro LED display technology with significant advantages in ultra-high-definition display, focusing on the research, manufacturing, sales, and service of LED application products [1] Group 1: Business Performance - In Q3 2025, 雷曼光电 reported revenue of 867 million yuan, ranking 18th among 30 companies in the industry, with the industry leader 三安光电 generating 13.817 billion yuan [2] - The company's net profit for the same period was 11.539 million yuan, placing it 21st in the industry, while the top performer, 利亚德, achieved a net profit of 295 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, 雷曼光电's debt-to-asset ratio was 43.68%, lower than the previous year's 44.68% and below the industry average of 46.71% [3] - The company's gross profit margin stood at 24.83%, slightly above the previous year's 24.80% and higher than the industry average of 20.22% [3] Group 3: Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 5.93% to 28,000, while the average number of circulating A-shares held per shareholder increased by 6.31% to 12,200 [5]

Core Insights - Shenzhen Lehman Optoelectronics Co., Ltd. reported a significant turnaround in its financial performance for the first three quarters of 2025, achieving operating revenue of 867 million yuan and a net profit attributable to shareholders of 8.87 million yuan, marking a year-on-year recovery from losses [1] Group 1: Financial Performance - The company has shown a clear upward trend in performance, with a notable increase in revenue and a return to profitability [1] - The net profit of 8.87 million yuan indicates a successful recovery compared to previous periods [1] Group 2: Technological Advancements - Lehman Optoelectronics has established a competitive advantage through deep engagement in core technology areas and precise positioning in niche markets [1] - The company has developed a full industry chain technology reserve in the LED display business, achieving industry-leading levels in key metrics such as resolution, contrast, refresh rate, energy efficiency, and stability for its Mini/MicroLED products [1][2] - The company has made significant breakthroughs in the "glass-based" packaging solution for Mini/MicroLED technology, which is expected to lower product costs and enhance stability, currently in small-batch trial production [2] Group 3: Research and Development - The company maintains a high proportion of R&D expenses and has steadily expanded its R&D team, focusing on ultra-high-definition LED display technology [2] - Continuous R&D investment and an efficient R&D system are seen as the core engine for the company's development, driving technological iteration and product upgrades [1][2] - Industry analysts suggest that Lehman Optoelectronics is on a positive trajectory of "innovation-driven + performance recovery," with potential for long-term, high-quality growth as new technologies and products are launched [2]

Core Viewpoint - Lehman Optoelectronics (300162.SZ) reported a decline in revenue for the first three quarters of 2025, while net profit showed significant growth year-on-year [1] Financial Performance - The company's revenue for the first three quarters was 867 million yuan, representing a year-on-year decrease of 8.41% [1] - Net profit attributable to shareholders was 8.87 million yuan, reflecting a year-on-year increase of 120.46% [1] - The net loss attributable to shareholders after deducting non-recurring gains and losses was 152,700 yuan [1] - Basic earnings per share were 0.0218 yuan [1]

Core Insights - The LED display industry is transitioning from "large pitch" to "micro pitch" technology, with significant sales growth in small pitch products, particularly in the P1.1-1.4mm range, which saw a year-on-year increase of 34.7% [1] - Shenzhen Lehman Optoelectronics has achieved mass production of P0.47mm products, positioning itself as a leader in the ultra-high-definition micro pitch market [1] Group 1: Market Trends - The sales of small pitch LED products have successfully surpassed the P1.0mm technical threshold, moving towards P0.9mm and smaller, marking the entry into the micro pitch era [1] - The demand for ultra-high-definition displays is driving the industry to accelerate micro pitch research and development, as achieving 4K and 8K resolutions requires increasingly smaller pixel pitches [1] Group 2: Technological Innovations - Lehman Optoelectronics has introduced the "HD King Cold Screen Master" (P0.9mm), which sets a new energy efficiency benchmark through three core technological innovations: AI low-power display technology, ultra-precise pressure control technology, and bottom black lossless direct display technology [2] - The HD King series products consume only half the power of traditional products, significantly reducing heat generation and extending equipment lifespan, making them a representative of green display technology [2] Group 3: User Experience Enhancements - The HD King Cold Screen Master (P0.9mm) enhances user comfort through improvements in refresh rate, spectrum, and optical structure, including a 7680Hz refresh rate that reduces visual fatigue and a blue light chip wavelength controlled to avoid harmful short wavelengths [3] - The product's optical design minimizes environmental light reflection by over 80%, improving viewing experience in bright conditions [3] Group 4: Interactive Capabilities - The micro pitch technology enables a shift from "one-way information output" to "two-way intelligent interaction," with the HD King Cold Screen Master integrating high-precision infrared touch and AI control technologies [4] - These innovations allow for simultaneous multi-touch and gesture control, enhancing interaction efficiency in various applications such as command and dispatch, teaching, and business meetings [4] Group 5: Market Outlook - The continuous decline in costs driven by technological iteration and mass production is expected to lead to the widespread adoption of LED micro pitch products by 2026, creating a new market worth hundreds of billions [4] - Lehman Optoelectronics is positioned to leverage its product offerings and cost control capabilities to gain a first-mover advantage in this expanding market, potentially leading the LED display industry into a new development cycle [4]

Core Viewpoint - Lehman Optoelectronics (300162.SZ) has shown significant performance recovery in the first nine months of 2025, with a revenue of 867 million yuan and a net profit of 8.87 million yuan, marking a year-on-year increase of 120.46% [1] Financial Performance - For Q3 2025, the company achieved a revenue of 302 million yuan, a year-on-year growth of 4.86%, and a net profit of 4.01 million yuan, up 108% from the previous year [1] - The net profit after deducting non-recurring items was 1.5 million yuan, reflecting a 103% year-on-year increase, indicating genuine recovery in core business profitability [1] Competitive Advantage - The company's competitive edge stems from its deep focus on core technologies and precise positioning in niche markets, particularly in the LED display sector [1] - Lehman Optoelectronics has developed a full industry chain technology reserve in LED display, achieving advanced levels in key metrics such as resolution, contrast, refresh rate, energy efficiency, and stability [1] R&D Innovation - R&D innovation is viewed as the "core engine" for the company's development, with a consistent high proportion of R&D expenses and an expanding R&D team [2] - The company focuses on ultra-high-definition LED display technology and has made significant breakthroughs, such as cost-effective Micro LED products that enhance market competitiveness [2] - A "glass-based" packaging solution for Mini/Micro LED technology has entered small-scale trial production, expected to become a new growth point for the company [2] Future Outlook - With solid core business, strong technological barriers, continuous R&D innovation, and extensive market layout, the company is likely on a positive trajectory of "innovation-driven + performance recovery" [2] - The ongoing rollout of new technologies and products is anticipated to lead to longer-term and higher-quality development for the company [2]

Company Overview - Lehman Optoelectronics (SZ 300162) announced the convening of its sixth board meeting on October 28, 2025, to review the proposal for the full text of the Q3 2025 report [1] - For the first half of 2025, Lehman Optoelectronics reported that 100% of its revenue came from the LED industry [1] - As of the report date, the market capitalization of Lehman Optoelectronics is 3.2 billion yuan [1] Industry Context - The A-share market has surpassed 4000 points, marking a significant resurgence after a decade of stagnation, with technology leading the market's transformation [1] - A new "slow bull" market pattern is emerging, indicating a potential shift in investor sentiment and market dynamics [1]