研报掘金丨中邮证券：维持沃格光电“买入”评级，营收稳健增长，单季业绩逐步向好

Core Viewpoint - The report from Zhongyou Securities indicates that Woge Optoelectronics is experiencing steady revenue growth, with improving quarterly performance in Q3. The company is expected to benefit from industry trends towards lightweight, high-definition, and large-size display products, alongside its long-term advantages in technology, quality, and customer base [1] Group 1 - The revenue from the company's optoelectronic glass processing and optoelectronic display device business is steadily increasing [1] - The wholly-owned subsidiary Chengdu Woge has achieved a key breakthrough in self-developed glass-based ECI technology, providing glass processing services for the first domestic G8.6 generation AMOLED production line [1] - The project is expected to start trial production in Q4 2025 and enter mass production in 2026, with the first equipment officially moved on-site in November 2025 [1] Group 2 - The company is steadily advancing glass-based TGV technology and glass-based multilayer interconnect GCP technology, extending applications from MicroLED direct display to future communications, optical communications, and advanced packaging for high-performance chips [1] - The investment rating for the company is maintained at "Buy" [1]