金融界消息 截至2025年8月12日收盘，利亚德（300296）报收于6.37元，下跌1.09%，换手率3.02%，成 交量68.67万手，成交金额4.37亿元。 资金流向方面，今日主力资金净流出2360.22万元，占比成交额5.4%。其中，超大单净流出484.38万 元、占成交额1.11%，大单净流出1875.84万元、占成交额4.29%，中单净流出流入779.74万元、占成交 额1.79%，小单净流入1580.48万元、占成交额3.62%。 天眼查商业履历信息显示，利亚德光电股份有限公司，成立于1995年，位于北京市，是一家以从事计算 机、通信和其他电子设备制造业为主的企业。企业注册资本271197.7222万人民币，实缴资本6000万人 民币。公司法定代表人为李军。 通过天眼查大数据分析，利亚德光电股份有限公司共对外投资了24家企业，参与招投标项目1839次，知 识产权方面有商标信息485条，专利信息850条，此外企业还拥有行政许可14个。 来源：金融界 利亚德最新一期业绩显示，截至2025一季报，公司营业总收入16.64亿元、同比减少7.59%，归属净利润 7655.49万元，同比减少24.37%，扣 ...

Group 1 - The core viewpoint of the articles highlights the booming concert economy, which has significantly boosted the performance of companies in the entertainment and related sectors [1][2][3] - Haoyang Co., a leading global stage lighting company, reported a revenue of 709 million yuan in the first half of 2023, representing a year-on-year increase of 24.16%, and a net profit of 223 million yuan, up 27.12% year-on-year [1] - The concert industry has seen a remarkable recovery, with a 400.86% increase in performance events and a 673.49% rise in ticket revenue in China during the first half of 2023 [2] Group 2 - The concert economy is driven by the increasing disposable income of residents and the upgrading of cultural consumption, particularly among the younger generation [3] - Companies like Zhouming Technology and Leyard also reported growth, with Zhouming achieving a revenue of 3.299 billion yuan, up 4.21%, and a net profit of 221 million yuan, up 81.33% [2] - Companies are actively expanding their presence in the concert sector, with Haoyang Co. focusing on developing products tailored to domestic market needs [3]

| 交易日期 | 证券代码 | 证券简称 | 成交价格 | 成交量 | 成交金额 | 买方营业部 | 卖方营业部 | | --- | --- | --- | --- | --- | --- | --- | --- | | | | | (元) | (万股/万份) | (万元) | | | | 2025-08-08 | 300296 | 利亚德 | 6.35 | 314.80 | 1,998.98 | 中国中金财富证券 | 国联民生证券股份 | | | | | | | | 有限公司深圳分公 | 有限公司北京分公 | | | | | | | | 可 | 글 | 8月8日，利亚德大宗交易成交314.8万股，成交额1998.98万元，占当日总成交额的4.31%，成交价6.35元，较市场收盘价6.23 元溢价1.93%。 ...

Core Viewpoint - The night tourism industry in China is expected to grow significantly, with total spending projected to reach 1.91 trillion yuan in 2024, marking a year-on-year increase of 21.7% [1][7][20]. Night Tourism Industry Definition and Types - Night tourism refers to various tourism and leisure activities conducted between dinner and bedtime, extending tourism activities from day to night. Key projects include night sightseeing, cultural experiences, dining, shopping, and emerging activities like night camping and night cycling [2][5]. Current Development Status of Night Tourism Industry - In 2024, the total number of domestic tourists in China is expected to reach 5.615 billion, with urban residents accounting for 4.37 billion and rural residents for 1.245 billion [5][7]. Night Tourism Industry Development Environment - Related Policies - New policies encouraging night economy activities, including dining, cultural entertainment, and tourism, are being implemented across various regions in China to promote high-quality development of the night economy [14][16]. Night Tourism Industry Competitive Landscape - The night tourism industry has formed a competitive landscape characterized by a "national team leading, cultural tourism groups competing, and new forces breaking through" model. Key players include Liard, Xi'an Tourism, Overseas Chinese Town, and Songcheng Performance [17][19]. Night Tourism Industry Development Strategies - Developing night tourism is seen as an effective way to achieve high-quality and connotative development in the tourism industry. It can promote structural reforms and upgrades in tourism supply, enhance the overall utilization of tourism resources, and improve the tourist experience [20].

Core Viewpoint - The company, Liyade (300296), emphasizes its leading position in the LED smart display, cultural tourism night tours, and AI and spatial computing sectors, backed by 30 years of industry experience [1] Group 1: Business Segments - The main business segments of the company include LED smart display, cultural tourism night tours, and AI and spatial computing [1] - The company has developed a diversified product and application scenario portfolio, along with a global operational capability [1] Group 2: Technological Advancements - The company focuses on embodied intelligence as a strategic direction within its AI and spatial computing segment [1] - It leverages a globally leading optical motion capture technology system, integrating core algorithms such as OptiTrack high-precision optical positioning, LydCap markerless identification, and LYDIA action large model [1] Group 3: Market Support - The company provides a comprehensive technical solution that combines data, algorithms, hardware, and services to support the humanoid robot industry [1] - This support enables robot manufacturers to achieve technological innovation and market breakthroughs [1]

Group 1 - The core viewpoint of the article is that Liyade has announced that its AR glasses are part of the company's external business products, and the specific launch time is yet to be determined as sales internal testing is required before the launch [2] Group 2 - Liyade responded to investor inquiries on August 1 regarding the status of its AR glasses [2] - The company emphasizes the need for internal sales testing prior to the product's market introduction [2] - The timeline for the launch of the AR glasses remains uncertain [2]

Group 1 - The company, Liard (300296), has received targeted orders for its MiniAI holographic toys, indicating initial market interest [1] - Retail sales for the MiniAI holographic toys have not yet been launched, suggesting a focus on fulfilling existing orders before expanding to broader distribution [1]

Core Viewpoint - The company Liard (300296.SZ) focuses on three main business segments: LED smart displays, cultural tourism night tours, and AI and spatial computing [1] Group 1 - The company has received targeted orders for its Mini AI holographic toys, although retail sales have not yet been launched [1]

Group 1 - The core business of the company includes three main segments: LED smart display, cultural tourism night tours, and AI and spatial computing [2] - The AR glasses are considered an external business product for the company, and their launch is contingent upon sales internal testing [2] - The specific launch date for the AR glasses remains undetermined [2]

Investment Rating - The report does not explicitly state an investment rating for the LED display industry Core Insights - The LED display industry is characterized by high brightness, long lifespan, reliability, low power consumption, and environmental friendliness, with applications in advertising, information display, entertainment, and industrial control [5][6] - Continuous technological innovation, such as the adoption of MicroLED and MiniLED technologies, is enhancing display quality and expanding application scenarios, driving market competitiveness [5][6] - The market is experiencing rapid growth due to technological advancements, cost reductions, and increasing global demand, particularly in sectors like television, commercial display, and ultra-high-definition TVs [8] Market Background - The LED display industry has evolved from technology introduction to independent research and international competition since its inception in the 1980s, with significant advancements in technology and product quality [7] - Major brands like BOE, Leyard, and Tianma Microelectronics are leading the industry through continuous innovation and market expansion [7] Market Status - The market size of China's LED display industry is expanding, driven by the maturity of new display technologies and strong demand in various sectors [8] - The manufacturing cost of LED displays is decreasing due to economies of scale and technological progress, enhancing market competitiveness [9] - The demand for high-quality display products is increasing, particularly in large-screen TVs and ultra-high-definition displays, supported by a broad consumer base [10] Market Competition - The competition in the LED display industry is characterized by a "technology-driven + scenario deepening + ecosystem integration" model, with leading companies leveraging their advantages in technology and supply chain [17][18] - Key players like Leyard and Absen are rapidly capturing market share through high-performance products and customized services [17][18] - The focus of competition is shifting towards comprehensive solutions that integrate hardware, software, and services, with an emphasis on high-value applications such as virtual filming and smart city integration [18] Recommended Brands - BOE: A leader in the semiconductor display industry, holding the top position in both LCD and OLED markets [19] - Tianma Microelectronics: Invests heavily in display technology R&D, focusing on advanced technologies like OLED [19] - Leyard: Industry leader in LED small pitch and Micro LED technologies, driving the development of the LED display industry [19] - Absen: Offers a rich product line in the LED display sector, well-regarded in both domestic and international markets [19][20] Development Trends - The LED display industry is expected to maintain rapid growth, with ongoing advancements in Micro LED and Mini LED technologies enhancing product performance and expanding application areas [21] - Leading brands will continue to invest in R&D and market expansion, positioning themselves for future opportunities and challenges in the global market [21]