诺瓦星云(301589)：深度布局MLED领域 全球化稳步推进

Core Insights - The company has launched MLED core detection equipment and core integrated circuit products to enhance the production and application of LED displays [1][2] - The global LED display market is projected to reach $7.971 billion by 2025 and $10.236 billion by 2028, with a CAGR of 7% from 2023 to 2028 [3] - The company has established a comprehensive overseas sales system, with overseas revenue increasing by 21.31% year-on-year in the first half of 2025 [5] Group 1: MLED Development - The company is deeply engaged in the MLED field, offering core detection equipment and integrated circuit products [2] - The MLED core detection equipment includes systems and machines that improve the yield and production efficiency of MLED displays [2] - The MLED core integrated circuits, such as specialized control chips and high-speed interface chips, significantly enhance the display quality of LED screens [2] Group 2: Market Forecast - Trend Force predicts that the global LED display market will grow significantly, benefiting companies that have preemptively invested in MLED technology [3] - The Mini LED direct display market is expected to reach $3.3 billion by 2028, with a CAGR of approximately 40% from 2024 to 2028 [3] Group 3: Video Processing and Cloud Systems - The company has introduced a video processing system that supports various display terminals, enhancing video image quality and screen control [4] - The XR virtual shooting solutions have been applied in numerous domestic and international projects, including TV dramas and advertisements [4] - The cloud-based information release and management system includes both hardware and software products, facilitating multimedia playback and management [4] Group 4: Global Expansion - The company has a service team of over 200 people overseas and emphasizes market penetration through local distributors and technical support [5] - The overseas revenue accounted for 22.89% of total revenue in the first half of 2025, indicating a strong international presence [5] - The company is positioned to benefit from the expanding application scenarios and market opportunities in the LED display sector [5]