Group 1: Company Overview - Luvi Optoelectronics achieved operating revenue of 544 million yuan in the first half of 2025, representing a year-on-year growth of 37.48%, and a net profit of 106 million yuan, up 29.13% year-on-year [1] - The company is the only domestic enterprise capable of fully supporting different generations of panel production lines in the flat panel display mask field, with a market share of 25.52% in G11 mask sales, ranking second globally [1] - In the semiconductor mask field, Luvi has achieved mass production at the 180nm process node, with 150nm/130nm process node masks validated by customers and in small batch production [1] Group 2: Market Potential - The global semiconductor mask market is expected to reach a scale of 8.94 billion USD in 2025, with the domestic market size around 18.7 billion yuan; the global flat panel display mask market is projected to be 2 billion USD [1] - The demand for masks is primarily influenced by factors such as product updates, new technology applications, and the exploration of new scenarios [1] Group 3: Technological Advancements - The company has mastered manufacturing technologies for high-generation halftone masks, high-generation grayscale masks, and PSM phase-shift masks, along with several core process technologies for upstream materials [1] - In the first half of the year, Luvi completed reliability research testing for IC masks and developed mask products for 3D glass cover plates, while also initiating R&D projects for G8.6 AMOLED products [1]
【机构调研记录】鑫元基金调研路维光电