Group 1 - The company focuses on backlight display modules and has successfully transformed from a single mobile backlight source to high-value applications in industrial control, automotive, tablets, and laptops, becoming the exclusive supplier for Switch 2 [1] - The company achieved a breakthrough in ultra-thin light guide plate design, meeting Nintendo's testing standards with a yield rate exceeding 99.6%, which has helped the company turn losses into profits [1] - Switch 2's first-month global sales reached 5.82 million units, significantly surpassing the market expectations and breaking the previous record set by Sony's PS5 [2] Group 2 - Nintendo forecasts a global sales target of 15 million units for Switch 2 in its first year, ending in March 2026, indicating strong market demand [2] - The company possesses a unique advantage in ultra-thin backlight module technology and yield levels, which are expected to maintain stability in market share and pricing in the short to medium term [2] - The company's performance is projected to show significant elasticity by 2025, with net profits for 2025-2027 estimated at 245 million, 394 million, and 462 million yuan, respectively, corresponding to earnings per share of 1.1, 1.8, and 2.1 yuan [2]
南极光(300940)：SWITCH2背光模组独家供应商 业绩弹性凸显