Group 1 - The company has confirmed that the first phase of the Hi-micro production line, with a capacity of 1200kk/month, is now operational [1] - The equipment required for the second phase of the MIP expansion has been received and will undergo testing before entering production [1]

Core Viewpoint - The company, Leyard, is focusing on advanced technology development for smart display products in its R&D centers located in North America and Europe, while also addressing local market needs with tailored solutions [1] Group 1: R&D Focus - The R&D centers in North America and Europe are primarily dedicated to the development of cutting-edge technologies for smart display products [1] - The U.S. subsidiary, NP, is specifically responsible for the research and development of motion capture products and related technologies [1] Group 2: Manufacturing and Automation - The factory in Saudi Arabia has introduced automated production lines and intelligent management systems [1] - The Saudi facility is involved in the research and manufacturing of a full range of LED display products, power supplies, and energy-saving LED lighting systems [1] Group 3: Market Adaptation - Each R&D center is designed to cater to the local market environment, providing more targeted solutions for customers [1]

证券日报网讯12月11日，利亚德（300296）在互动平台回答投资者提问时表示，公司与中国科学院合作 研发的LiFi(LightFidelity)光通信系统基于公司高效能LED研制，兼具照明与通信功能，具备隐蔽性好， 抗干扰，稳定强韧等核心优势，该系统现已完成实验室验证。 ...

Core Viewpoint - The company highlights the cost structure differences between traditional LED displays and MicroLED technology, indicating that MicroLED's chip costs are currently the highest, with potential for significant cost reductions in the future as cutting technology improves [1] Group 1: Cost Structure - In traditional LED displays, the largest cost component is the lamp bead, while in MicroLED, the chip cost is the most significant [1] - The MicroLED industry is still in its early development stage, with expectations for lower chip costs as technological advancements occur [1] Group 2: Market Demand and Applications - The company reports that its MicroLED products have been successfully applied in high-end meetings, cinemas, all-in-one machines, and special industries [1] - There has been a notable increase in overseas demand for MicroLED products this year, indicating a growing market interest [1] Group 3: Profitability - MicroLED products maintain a relatively stable and high profitability level within the company's display category [1]

Core Viewpoint - The company highlights that in traditional LED displays, the largest cost component is the lamp beads, while in MicroLED technology, the chip cost is the most significant. The MicroLED industry is still in its early development stage, and breakthroughs in chip cutting technology could significantly reduce costs, enhancing the cost-performance ratio of MicroLED products and expanding their application range [1] Group 1: Cost Structure - In traditional LED displays, lamp beads represent the largest portion of costs [1] - In MicroLED technology, chip costs are the highest [1] Group 2: Industry Development - The entire MicroLED industry chain is currently in the early stages of development [1] - A breakthrough in upstream chip cutting technology could lead to significant cost reductions [1] Group 3: Product Application and Market Demand - The company's MicroLED products have been successfully applied in high-end meetings, cinemas, all-in-one machines, and special industries [1] - MicroLED products maintain a relatively stable and high-profit level within the company's display categories [1] - There has been a notable increase in overseas demand for MicroLED products this year [1]

Core Viewpoint - The company, Liad (300296.SZ), is currently focusing on its AI and spatial computing sectors, with a significant portion of its revenue derived from partnerships with leading firms, particularly in the U.S. market [1] Group 1: AI and Spatial Computing Business - The AI and spatial computing segments account for approximately 5% of the company's overall business [1] - Over 80% of the revenue from these segments comes from a partnership with a U.S. company, NP, which primarily employs technical personnel [1] - The business model in this area is mainly centered around hardware sales [1] Group 2: Domestic Virtual Motion Business - The domestic virtual motion business focuses on the embodied intelligence industry, classified as a strategic emerging industry [1] - Collaborations with robotics manufacturers are primarily customized, covering various aspects such as hardware sales, data provision, and motion training [1] - The company has implemented or won bids for multiple projects related to the construction of robot data training centers, with most projects being charged on a per-project basis [1]

格隆汇12月10日丨利亚德(300296.SZ)在投资者关系中表示，Micro LED 是公司面向未来更广阔应用市场 的战略产品，也是公司研发重点。过去两年其收入均保持了翻倍的增长，截止半年度，公司Micro LED 新签订单已超6亿元，同比增长40%以上。 ...

Core Insights - The company Liad (300296.SZ) is currently focusing on AI and spatial computing, with approximately 5% of its business derived from these sectors [1] - Over 80% of the revenue in the AI segment comes from a partnership with a leading US company, primarily through hardware sales [1] - The domestic virtual motion business is centered on embodied intelligence, collaborating with robotics manufacturers on customized solutions, which include hardware sales, data provision, and motion training [1] Business Model - The AI and spatial computing sectors are primarily hardware sales-driven, with a significant portion of revenue linked to a major US partner [1] - The company has implemented or won multiple projects for building robot data training centers, which typically operate on a project-based fee structure [1]

Core Viewpoint - Leyard (300296.SZ) emphasizes that Micro LED is a strategic product for the company, targeting broader application markets and is a key focus of its R&D efforts [1] Group 1: Financial Performance - The company has achieved a doubling of revenue from Micro LED over the past two years [1] - As of the half-year mark, new orders for Micro LED have exceeded 600 million yuan, representing a year-on-year growth of over 40% [1]

Group 1 - The core viewpoint of the article is that Liard (SZ 300296) will hold an investor meeting on December 10, 2025, where the company's board secretary and vice president will address investor inquiries [1] - For the first half of 2025, Liard's revenue composition is entirely from the LED industry, accounting for 100.0% [1] - As of the report date, Liard's market capitalization stands at 17.2 billion yuan [1]