研报掘金丨财信证券：首予维信诺“增持”评级，国资入主夯实长期发展动能

Core Viewpoint - The report highlights that Visionox's share buyback reflects confidence in its long-term development, and the entry of state-owned capital solidifies its growth momentum [1] Group 1: Company Overview - Visionox has been focused on the OLED business for over 20 years and is a leading player in China's OLED industry [1] - As a leader in the domestic small and medium-sized OLED panel market, the company is expected to benefit from the gradual recovery in downstream demand and the continuous increase in OLED penetration rates [1] Group 2: Financial and Strategic Developments - The company's share buyback demonstrates its confidence in long-term growth [1] - If the upcoming private placement is successful, Hefei state-owned capital will become the controlling shareholder, enhancing the stability of the company's control [1] - The private placement is also expected to improve the company's cash position and reduce debt pressure, providing financial support for focusing on cutting-edge technology research and maintaining core competitiveness [1]