TIANMA(SZ:000050) Yang Guang Wang·2025-11-10 08:40Core Insights - The article highlights the advancements of Tianma Microelectronics in the Micro-LED display technology, showcasing its potential to reshape the display industry and establish a strong presence in the global market [1][2]. Technology Breakthrough - Micro-LED is recognized as the next mainstream display technology following LCD and OLED, with advantages such as self-emission, high brightness, long lifespan, low power consumption, and nearly infinite contrast ratio [2]. - The global Micro-LED display market is projected to reach approximately $800 million by 2028, with a compound annual growth rate (CAGR) of 70.4% from 2023 to 2028 [2]. - Tianma has established a G3.5 Micro-LED production line in Xiamen, which covers all critical processes and achieved full-process integration by December 30, 2024, marking a significant breakthrough in the field [2][5]. Product Development - Tianma has developed a transparent display solution with a maximum transparency rate of 70% and a unique adjustable transparency technology ranging from 0.1% to 24% [5]. - The company successfully lit its first 7-inch car-mounted Micro-LED standard product in the first half of 2025, paving the way for mass production [5]. Brand Positioning - Tianma aims to transform from a single product supplier to a "chain master" enterprise, integrating technology research, standard formulation, and ecosystem integration [6]. - The company has launched two industry standards for Micro-LED displays, which have been recognized as typical cases for application promotion by the Ministry of Industry and Information Technology [6]. Market Collaboration - Tianma has established partnerships with major automotive companies such as Li Auto, XPeng Motors, and GAC, capturing a significant market share in the automotive display sector [7]. - The company’s automotive display shipments reached approximately 21 million units in the first half of the year, reflecting a year-on-year growth of 24.7% [7]. Ecosystem Development - Tianma is committed to building a complete ecosystem for Micro-LED technology, leading the formation of a Micro-LED ecological alliance to address challenges in packaging equipment and mass production yield [8]. - The company has developed a three-dimensional sputtering technology to simplify manufacturing processes and significantly reduce costs [9]. Application Expansion - Beyond automotive displays, Tianma's PID standard modules are applicable in command centers, smart retail, and digital signage, showcasing the versatility of Micro-LED technology [9]. - The company has provided high-quality screens for flagship products from OPPO and Xiaomi, enhancing user experience with superior color gamut and resolution potential [9].