深圳市洲明科技股份有限公司（以下简称"公司"）第六届董事会第四次会 议审议通过了《关于召开 2025 年第四次临时股东会的议案》，决定于 2025 年 10 月 28 日（星期二）下午 15：00 召开 2025 年第四次临时股东会，现将有关事 项通知如下： 证券代码：300232 证券简称：洲明科技 公告编号：2025-089 深圳市洲明科技股份有限公司 关于召开 2025 年第四次临时股东会的通知 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 一、召开本次会议的基本情况 1、股东会届次：2025 年第四次临时股东会 2、会议召集人：公司董事会 3、会议召开的合法、合规性：经公司第六届董事会第四次会议审议通过， 公司决定召开 2025 年第四次临时股东会，召集程序符合有关法律、行政法规、 部门规章、规范性文件和《公司章程》的规定。 4、会议召开的日期、时间： （1）现场会议时间：2025 年 10 月 28 日（星期二）下午 15:00。 （2）网络投票时间：2025 年 10 月 28 日。 其中：通过深圳证券交易所交易系统进行网络投票的具体时间为 20 ...

证券代码：300232 证券简称：洲明科技 公告编号：2025-090 深圳市洲明科技股份有限公司 第六届董事会第四次会议决议公告 本公司及董事会全体成员保证信息披露内容真实、准确和完整，没有虚假 记载、误导性陈述或者重大遗漏。 一、董事会会议召开情况 深圳市洲明科技股份有限公司（以下简称"公司"）第六届董事会第四次会 议于2025年9月22日在公司会议室以通讯表决方式召开。召开本次会议的通知已 于2025年9月18日以电子邮件及短信方式通知各位董事。会议由公司董事长林洺 锋先生召集和主持，应出席会议表决的董事7人，实际出席会议表决的董事7人， 公司全体高级管理人员列席了本次会议。本次会议的召集、召开和表决程序符合 《公司法》和《公司章程》的有关规定。 二、与会董事经过认真讨论并表决，形成决议如下： 根据《中华人民共和国公司法》、《上市公司股份回购规则》、《深圳证券 1 交易所上市公司自律监管指引第9 号——回购股份》等法律法规规定以及《公司 章程》等规定，鉴于公司回购专用证券账户中部分回购的股票即将满三年，且目 前公司暂无使用该回购股份用于实施股权激励或员工持股的计划，公司将按照规 定注销该部分回购股份3, ...

Group 1 - The company, Zhouming Technology, announced the termination of its sixth employee stock ownership plan during its board meeting held on September 22, 2025 [1] - For the first half of 2025, Zhouming Technology's revenue was entirely derived from the LED optoelectronics industry, accounting for 100% of its business [1] - As of the report, Zhouming Technology has a market capitalization of 9.2 billion yuan [1]

Core Insights - The article highlights the integration of AI technology with LED display products, showcasing the advancements made by companies like Zhouming Technology in creating interactive experiences for users [2][3] - The report emphasizes the financial performance of various LED companies, indicating a mixed growth trajectory across the industry, with some companies experiencing revenue growth while others face declines [4][6] Group 1: Zhouming Technology - Zhouming Technology successfully applied its self-developed AI model in the Nanjing Niushou Mountain project, allowing visitors to interact with an AI version of Su Shi [2] - In the first half of 2025, Zhouming Technology achieved revenue of 3.658 billion yuan, a year-on-year increase of 7.38%, and a net profit of 121 million yuan, up 20.61% [2] - The company is focusing on an "AI model + AI intelligent body + AI interactive space" ecosystem to upgrade traditional display products towards intelligence and interactivity [2][3] Group 2: Aoto Electronics - Aoto Electronics reported revenue of 313 million yuan in the first half of 2025, a decrease of 6.19%, but net profit increased by 251.82% to 8.3226 million yuan [4] - The company’s subsidiary, Chuangxiang Shuwei, specializes in XR virtual reality solutions, signing new orders worth approximately 22.5 million yuan, a year-on-year increase of 32.03% [4] - Chuangxiang Shuwei has provided customized virtual scenarios and immersive interactive experiences for over 50 leading brands, helping them innovate in marketing [4] Group 3: Absen and Lehman Optoelectronics - Absen reported total revenue of 1.819 billion yuan in the first half of 2025, a 1.15% increase, with net profit rising by 30.84% to 116 million yuan [6] - Lehman Optoelectronics achieved revenue of 564 million yuan, a decline of 14.23%, with a net profit of 4.8592 million yuan, down 35.89% [6] - Both companies acknowledged the risks of falling behind in technological innovation and market competition, with strategies in place to address these challenges [6]

Core Insights - The company reported a 7.4% year-on-year increase in revenue and a 20.6% increase in net profit attributable to shareholders for the first half of the year, driven by the expansion of domestic and international business, rapid growth in Mini/Micro LED market share, and ongoing development in light display solutions and AI content [1] - In Q2 2025, the company achieved a revenue of 2.08 billion yuan, reflecting an 8.7% year-on-year growth, while net profit attributable to shareholders decreased by 17.84% year-on-year [1] Revenue Breakdown - Domestic revenue rebounded with a 19.96% year-on-year increase, reaching 1.48 billion yuan, accounting for 40.5% of total revenue, driven by demand growth in various application scenarios such as cinema, education, and cultural tourism [2] - Overseas revenue was 2.18 billion yuan, a slight increase of 0.22% year-on-year, making up 59.5% of total revenue, benefiting from the acceleration of global smart city construction and digital infrastructure [2] Mini/Micro LED Development - The company doubled its sales area for Mini/Micro LED, achieving sales exceeding 500 million yuan, and made significant advancements in MIP and COB technology integration [2] - The company has successfully mass-produced P0.4 MIP products and is progressing steadily with 0202 product technology, while also achieving batch production capabilities for 0404 and high-brightness 1010 products [2] LED and AI Integration - The company upgraded its LED+AI strategy, focusing on end-side applications to build an intelligent scene ecosystem driven by "hardware + IP + scene services" [3] - The company is developing diverse applications in education, health, and cultural tourism by leveraging its self-developed AI model and immersive technologies [3] Investment Outlook - The company maintains an "outperform the market" rating, anticipating revenue growth from domestic and international LED demand resilience and the deep integration of LED and AI technologies [3]

Investment Rating - The investment rating for the company is "Outperform the Market" [5][29]. Core Views - The company achieved a year-on-year revenue growth of 7.4% and a net profit growth of 20.6% in the first half of the year, driven by the deep exploration of domestic and international markets, rapid increase in Mini/Micro LED market share, and continuous advancement in light display solutions and AI content [1][3]. - Domestic revenue rebounded with a growth of 19.96%, accounting for 40.5% of total revenue, primarily due to increased demand in various application scenarios such as cinema, education, and cultural tourism [2]. - The company has made significant strides in Mini/Micro LED sales, doubling the sales area and exceeding 500 million yuan in sales, while also achieving breakthroughs in sales and technology [2][3]. - The company's strategy of integrating "LED+AI" aims to create a new era of display and interaction, focusing on intelligent scene ecosystems driven by hardware, IP, and scene services [3]. Financial Summary - In the first half of the year, the company reported a revenue of 3.658 billion yuan and a net profit of 121 million yuan, with a gross margin of 28.32% [1]. - The second quarter saw a revenue of 2.081 billion yuan, with a year-on-year decline in net profit to 67 million yuan [1]. - The company maintains its revenue and profit forecasts for 2025-2027, expecting revenues of 8.556 billion yuan, 9.592 billion yuan, and 10.779 billion yuan, respectively, with net profits of 258 million yuan, 339 million yuan, and 400 million yuan [3][4].

Market Overview - The optical and optoelectronic sector increased by 1.06% on September 16, with Zhouming Technology leading the gains [1] - The Shanghai Composite Index closed at 3861.87, up 0.04%, while the Shenzhen Component Index closed at 13063.97, up 0.45% [1] Top Gainers in Optical and Optoelectronic Sector - Zhouming Technology (300232) closed at 8.50, up 9.54%, with a trading volume of 1.1891 million shares and a transaction value of 999.3 million [1] - Aobi Zhongguang (688322) closed at 96.40, up 8.94%, with a trading volume of 220,100 shares and a transaction value of 2.07 billion [1] - Nanji Guang (300940) closed at 29.43, up 5.90%, with a trading volume of 121,400 shares and a transaction value of 353 million [1] - Other notable gainers include Yuansheng Optoelectronics (002449), Longli Technology (300752), and Yingfeite (300582) with respective increases of 5.48%, 5.40%, and 5.18% [1] Top Losers in Optical and Optoelectronic Sector - Jiuliang Co., Ltd. (300808) closed at 30.26, down 4.21%, with a trading volume of 56,900 shares and a transaction value of 173 million [2] - Chenglai Optics (688502) closed at 406.44, down 3.82%, with a trading volume of 12,400 shares and a transaction value of 5.05 billion [2] - Other notable losers include Madaan Sensor (300701) and Woge Optoelectronics (603773) with declines of 2.32% and 1.78% respectively [2] Fund Flow Analysis - The optical and optoelectronic sector experienced a net outflow of 63.51 million from institutional investors and 145 million from speculative funds, while retail investors saw a net inflow of 208 million [2] - Major stocks like Oufei Optoelectronics (002456) and Aobi Zhongguang (688322) had significant net inflows from retail investors, while Zhouming Technology (300232) faced a net outflow from both institutional and speculative funds [3]

Core Viewpoint - The company, Zhouming Technology, has successfully commercialized its textured screen, a new type of LED display that integrates artistic design with functional display capabilities [1] Group 1: Product Innovation - The textured screen features a nano-optical layer that allows it to display realistic textures such as wood grain, marble, and concrete when not in use, while functioning as a high-definition display when powered on [1] - The product embodies the philosophy of "displaying art when off, and showing content when on," aiming to merge display technology with architectural materials [1] Group 2: Market Impact - The introduction of the Unatural textured screen is expected to lead LED displays into the decorative building materials market, significantly enhancing the application and popularity of LED technology [1] - The textured screen is designed to revitalize various spaces, including homes, hotels, retail environments, office buildings, restaurants, and cultural and public spaces, thereby giving "new life and vitality" to these areas [1]

Core Viewpoint - The company, Zhouming Technology, has successfully commercialized its textured screen, a new type of LED display that integrates artistic design with functional display capabilities [1] Group 1: Product Innovation - The textured screen features a nano-optical layer that allows it to display realistic textures such as wood grain, marble, and concrete when not in use, while functioning as a high-definition display when powered on [1] - The product embodies the philosophy of "displaying art when off, and showing content when on," aiming to merge display technology with architectural materials [1] Group 2: Market Impact - The introduction of the Unatural textured screen is expected to lead LED displays into the decorative building materials market, significantly enhancing the application and popularity of LED technology [1] - The textured screen is designed to revitalize various spaces, including homes, hotels, retail environments, office buildings, restaurants, and cultural and public spaces, thereby giving "new life and vitality" to these areas [1]

Core Insights - The AI companionship economy is rapidly developing globally, driven by personal emotional needs and technological innovation, with the global AI toy market expected to exceed $11 billion in 2024 and reach $58 billion by 2030, reflecting an annual growth rate of over 20% [2][5][6] - In China, the AI toy market is projected to surpass 70 billion yuan by 2030, indicating significant growth potential [2][5] - The market is currently in an early educational phase, with companies focusing on integrating professional content into AI toys to enhance user engagement and dependency [10][14] Market Dynamics - Capital and technology companies are intensively entering the AI companionship sector, with startups like Luobo Intelligent and Beipei Technology securing millions in funding, and established firms like Alibaba and Meituan launching their own AI companionship products [6][10] - The investment landscape is shifting from technology validation to commercial viability, with a focus on a composite model of "hardware + emotional subscription + scenario solutions" [10][12] Product Development - AI companionship toys are evolving from mere toys to trusted companions for children, with users reporting improved interactions and learning experiences [3][4][13] - Companies are exploring various product forms and applications, targeting different demographics including children, single adults, and the elderly [10][12] Challenges and Bottlenecks - The AI companionship sector faces several challenges, including stiff competition, interaction rigidity, weak emotional projection, and data compliance risks [14][16] - Current AI toys are primarily toy-centric, lacking the ability to provide in-depth data analysis and professional guidance for parents [14][16] - High return rates (30%-40%) are attributed to "interaction disconnection," highlighting the need for continuous emotional engagement and coherent communication [16]