新型显示迈入千亿时代！高研发投入，强技术实力，显控龙头诺瓦星云：MLED行业的领跑者

Investment Rating - The report indicates a strong investment outlook for Nova Star Cloud, highlighting its leadership in the MLED industry and significant market share [6][27]. Core Insights - Nova Star Cloud has established itself as a leader in the MLED (Mini LED and Micro LED) sector, capturing over 60% of the domestic market share and serving more than 4,000 global clients [6][27]. - The company's revenue has seen substantial growth, increasing from 933 million in 2018 to 3.054 billion in 2023, representing a nearly 230% increase [6]. - The compound annual growth rate (CAGR) of net profit attributable to shareholders from 2020 to 2023 is an impressive 76.18%, with net profit reaching 461 million in the first three quarters of this year [7]. Summary by Sections 1. MLED Era - The MLED technology offers advantages such as high brightness, high resolution, low power consumption, and high stability, making it a promising next-generation display solution with vast market potential [4]. - The MLED market is projected to reach trillions, with applications ranging from professional displays to consumer electronics and advanced technologies like AR/VR [4]. 2. Self-Research and Technological Strength - Nova Star Cloud emphasizes self-research and development, establishing a robust R&D framework that integrates market needs and technological trends [8][10]. - The company has made significant technological breakthroughs, including the development of proprietary MLED control chips and advanced calibration algorithms, enhancing production efficiency and product quality [16][19]. 3. Continuous Investment and Ecosystem Development - The company has committed to high R&D investments, with expenditures reaching 442 million in 2023, reflecting a compound growth rate of over 30% since 2018 [23][26]. - Nova Star Cloud has formed strategic partnerships with leading firms and academic institutions to advance MLED technology and foster innovation [20][22]. 4. Conclusion - As a key player in the new display industry, Nova Star Cloud is well-positioned to capitalize on the MLED trend, supported by its technological advancements, diverse product offerings, and strong customer relationships [27].