Core Viewpoint - Tianma Microelectronics officially launched its new high-end OLED technology brand "Tianma Tiangong Screen" on September 19, marking a significant milestone in its 42-year development and redefining high-end display standards with a focus on health experience [2][13]. Group 1: Brand and Technology Launch - The launch of the "Tianma Tiangong Screen" showcases Tianma's breakthrough in R&D and signifies the company's commitment to high-end product lines, contributing positively to China's display industry [2][5]. - Tianma aims to transition from a traditional "hardware manufacturer" to a "creator of sensory experiences," with the Tiangong Screen as a starting point for a comprehensive user experience system [6]. Group 2: Key Technological Features - The Tiangong Screen emphasizes "super eye protection," "extreme transparency," and "smooth high refresh rate" as its three core technological experiences [7]. - The eye protection feature includes four dimensions: flicker-free, 1nit brightness for eye comfort, reduced harmful blue light to 4.7%, and adaptive ambient light technology [8]. - The transparency aspect achieves a global peak brightness of 8000 nits and covers 95% of the BT.2020 color gamut, enhancing color accuracy and detail [9]. - The high refresh rate capability supports up to 165Hz in mass production and can extend to 240Hz, ensuring smooth operation for gaming and video users [10]. Group 3: Collaborations and Certifications - Tianma has established a joint laboratory with OPPO to collaborate on health display technology research and industry standard development [12][14]. - The Tiangong Screen received a "Visual Health Friendliness" certification from the China Quality Certification Center, confirming its innovative achievements in eye protection technology [12].

新浪科技讯 9月19日晚间消息，天马微电子今日举办高端 OLED 技术品牌发布会，OPPO 副总裁、硬件 工程事业部总裁刘畅参会并正式公布： OPPO 全球首发全场景真 1nit 明眸护眼屏，并将于下一代旗舰 Find X9 系列上搭载。 据悉，OPPO 下一代旗舰 Find X9 系列将首发搭载新一代全场景 1nit 明眸护眼屏，并于 10 月正式登 场。 责任编辑：刘万里 SF014 据介绍，OPPO 凭借在屏幕领域的技术积累与超 50 亿资金的投入，定制最高规格旗舰屏幕产线，配合 OPPO 自有的国内首条自研显示科学产线，打造自研屏幕双产线模式。在这一模式下，OPPO 完整掌控 屏幕设计 - 封装 - 生产 - 调试全流程。此外，OPPO 还与联发科合作，首次打通 SoC 处理器底层，首次 实现芯片级子像素校准，打造一屏双芯显示驱动方案。在双产线模式下，OPPO Find X9 系列屏幕亮度 均一性提升了 34% ，色彩均一性提升了46% 。 在屏幕技术研发领域，OPPO 秉持 "钻石显示" 与 "明眸护眼" 双线战略持续深耕，全球设置 6 大研究 所、 4 大研发中心，最近三年在屏显技术上的投入高达 ...

Core Viewpoint - Tianma Microelectronics has launched a new high-end OLED technology brand called "Tianma Tiangong Screen," aiming to transform from a traditional hardware manufacturer to a creator of sensory experiences [1] Group 1: Product Features - The Tianma Tiangong Screen focuses on three key high-end experiences: Super Eye Protection, Extreme Transparency, and Smooth High Refresh Rate [4] - Super Eye Protection is designed to address user issues like dry eyes and visual fatigue, featuring no flicker, 1 nit brightness for eye comfort, low blue light, and adaptive ambient light [4] - Extreme Transparency aims for a "what you see is what you get" display, achieving a global peak brightness of 2500 nits and a maximum brightness of 8000 nits, with 95% coverage of the BT.2020 color gamut [4] - The Smooth High Refresh Rate supports a production capability of 165Hz and can be expanded to 240Hz, with adaptive refresh rate technology to reduce power consumption [4] Group 2: Industry Recognition - The technology behind the Tianma Tiangong Screen has received recognition from various experts, emphasizing the importance of human-centered improvements in screen technology [5] - The China Quality Certification Center awarded the "Visual Health Friendly" certification to Tianma Tiangong Screen, acknowledging its innovative achievements in eye protection technology [5][7] Group 3: Strategic Partnerships - OPPO announced it will globally debut the 1 nit eye protection screen in its next flagship Find X9 series, and a joint laboratory has been established with Tianma to collaborate on health display technology and industry standards [6][7]

Group 1 - The core team of Zhiyuan Robotics was disclosed on September 19, with key positions filled by notable individuals including founder and CEO Deng Taihua, and co-founder and CTO Peng Zhihui [1] - Other significant roles include Jiang Qingsong as partner and Senior Vice President, Yao Maoqing as partner and Senior Vice President, Wang Chuang as partner and Senior Vice President, Luo Jianlan as partner and Chief Scientist, and Niu Jia as partner and Chief Human Resources Officer [1] Group 2 - Peng Zhihui is known for his focus on robotics and AI algorithm development, previously recognized as a technology blogger under the name "Zhihui Jun" [3] - He has a background as a key technical figure at OPPO and Huawei, leading several core technology breakthroughs [3] - In March 2025, Peng Zhihui will lead Zhiyuan X-Lab in launching the Lingxi X2 robot [3]

Core Insights - The release of iPhone 17 and iPhone Air has accelerated the mobile phone replacement trend, contributing to the growth of the second-hand mobile phone market in China, which is projected to reach a transaction volume of 7,020 billion RMB by 2024, with mobile phones accounting for 74% of this market [1][3] - The second-hand consumer electronics market in China is expected to grow at a compound annual growth rate (CAGR) of 21.1%, reaching 18,456 billion RMB by 2029 [1][3] Market Dynamics - The second-hand goods trading platform, represented by Zhuanzhuan, addresses the pricing issues of high-value standard products in the secondary market, enhancing transaction efficiency through a refined pricing system [3][4] - Unlike collectible items, the products on Zhuanzhuan are primarily consumables, necessitating a focus on quality inspection and revaluation [3][4] Brand Strategy - Zhuanzhuan leverages brand endorsement to build trust in transactions, especially in the secondary market where information transparency is lower [4][5] - The platform has adopted a C2B2C model, acting as a trust intermediary to facilitate transactions between consumers [4][5] Marketing Approach - Zhuanzhuan has engaged influencers on platforms like Douyin and Bilibili to enhance brand trust and recognition, utilizing the relationship between influencers and their followers to transfer credibility [7] - The company has reported achieving profitability in 2024, indicating the effectiveness of its saturated advertising strategy in a rapidly growing market [7] Competitive Landscape - The second-hand market is fragmented, with over a hundred entities competing, leading to a low concentration ratio (CR5 at 18.6% for mobile phone recycling) [9] - Zhuanzhuan's user growth has stagnated, attributed to intense competition and a focus on price sensitivity among consumers [9][10] Expansion Strategy - To counteract stagnant online growth, Zhuanzhuan is expanding into offline retail with the launch of "Super Zhuanzhuan," a multi-category second-hand store, which aims to diversify its product offerings beyond electronics [11][12] - The acquisition of the luxury second-hand brand Hongbulin has enabled Zhuanzhuan to tap into new customer segments and resources [11][12] Industry Comparison - The second-hand market features key players like Xianyu (C2C model) and Aihuishou (offline focus), with Zhuanzhuan emphasizing online operations while also exploring offline avenues [13][14] - Xianyu benefits from a strong social network effect, while Zhuanzhuan's model focuses on efficiency and trust in transactions, positioning it as a strong intermediary in the market [15][16]

Core Viewpoint - The launch of the iPhone 17 series has generated significant consumer interest, but the market response, particularly in China, indicates potential challenges for Apple in maintaining its competitive edge against local brands and evolving consumer preferences [1][3][5]. Pricing and Sales - The official retail prices for the iPhone 17 series are as follows: iPhone 17 (256GB: 5999 RMB, 512GB: 7999 RMB), iPhone 17 Pro (256GB: 8999 RMB, 512GB: 10999 RMB, 1TB: 12999 RMB), iPhone 17 Pro Max (256GB: 9999 RMB, 512GB: 11999 RMB, 1TB: 13999 RMB, 2TB: 17999 RMB) [1]. - Initial reports indicate that the iPhone 17 Pro Max (256GB) is the most sought-after model among scalpers, with a price increase of 500-600 RMB, while other models see minimal to no price increase [4][5]. Market Dynamics - The global smartphone market saw a slight decline in shipments, with Apple experiencing a 2% decrease in year-over-year shipments, while Samsung's shipments grew by 7% [2]. - In the Chinese market, Apple has faced significant challenges, with a 4.1% decline in smartphone shipments, resulting in a market share of 13.9%, placing it fifth behind Huawei, Vivo, OPPO, and Xiaomi [3]. Consumer Sentiment and Product Reception - The iPhone 17 series has been marketed as having "the biggest innovation ever," with upgrades in camera, battery life, and design, but there are concerns about the perceived lack of novelty in Apple's flagship products [2][3]. - Initial consumer reactions to the iPhone 17 Pro and Pro Max have been mixed, with reports of scratches on display models and a lack of demand for the standard and Pro versions in the secondary market [5]. Competitive Landscape - Samsung's foldable phones have gained popularity, posing a challenge to Apple's market position, especially as Apple is reportedly not expected to release a foldable phone until late next year [2]. - Analysts suggest that the iPhone 17 Pro series may struggle to attract consumers due to its positioning and the availability of similar features in the standard version [5].

Core Viewpoint - Tianma Microelectronics officially launched its high-end OLED technology brand "Tiangong Screen" on September 19 in Xiamen, highlighting its advancements in eye protection, display quality, and high refresh rates [2][5]. Group 1: Technology Highlights - The Tiangong Screen features a "super eye protection" core with four main characteristics: flicker-free, low blue light (4.7% harmful blue light), 1nit eye protection, and adaptive ambient light [5]. - In terms of display quality, the Tiangong Screen achieves a global peak brightness of 2500 nits and a maximum peak brightness of 8000 nits, with a color gamut covering 95% of BT.2020, providing realistic color reproduction [5]. - The screen utilizes a self-developed "Windmill" pixel structure to enhance detail display precision, resulting in sharper text edges and clearer dynamic images [5]. Group 2: Refresh Rate and Collaboration - The mass production capability of the Tiangong Screen supports a refresh rate of 165Hz, with research and development capabilities extending to 240Hz; it also features LTPO 3.0 technology for adaptive refresh rates to optimize smoothness and reduce power consumption [6]. - OPPO's Vice President Liu Chang announced that the OPPO Find X9 smartphone will be the first to feature the Tiangong Screen, following a deep collaboration between OPPO and Tianma to create a dedicated high-spec screen production line [6]. - Tianma and OPPO have established a joint laboratory to collaborate on health display technology research and industry standard formulation [6].

Core Viewpoint - Tianma Microelectronics launched its high-end OLED technology brand "Tiangong Screen," aiming to redefine high-end display standards with a focus on "super eye protection, extreme transparency, and smooth high refresh rates" [1] Group 1: Product Features - "Tiangong Screen" incorporates multiple eye protection technologies, including flicker-free, 1 nit eye protection, low blue light, and adaptive ambient light [1] - The display features a peak brightness of 8000 nits and 95% BT.2020 wide color gamut coverage, utilizing a self-developed "windmill pixel" structure to enhance detail performance [1] - It supports a maximum refresh rate of 165Hz for mass production and 240Hz in research and development, with LTPO 3.0 for dynamic adjustment to reduce power consumption [1] Group 2: Industry Impact - The launch signifies an important step for Chinese display companies into the high-end market, supported by a complete independent OLED intellectual property system and innovation platform established by Tianma [1] - The partnership with OPPO, which will feature the "Tiangong Screen" in its next flagship Find X9 series, highlights the collaboration in advancing health display technology research and standard formulation [1] - The "Tiangong Screen" received a "Visual Health Friendliness" certification from the China Quality Certification Center, recognizing its innovations in eye protection technology [2]

Core Insights - The report from Counterpoint indicates that vivo has captured the top position in the Chinese smartphone market with a 19% market share, leading by 3 percentage points over the second place [1] - The market is characterized by a "one leader and three strong competitors" dynamic, with notable performances from OPPO and Xiaomi, while Huawei shows growth and Honor experiences a decline of nearly 10% in market share [1][2] - The overall smartphone market in China saw a 2% year-on-year decline in total sales during the first eight weeks of Q3 [3] Company Performance - Vivo's success is attributed to the strong performance of its S30 and X200s series, which together contributed over 60% of its sales during the reporting period, aligning with consumer preferences for mid-to-high-end products [1] - OPPO recorded the highest growth among manufacturers, with a 4% year-on-year increase in sales, driven by a well-rounded product lineup, particularly the Reno 14 series, which has become one of the best-selling flagship phones in China [2] - Huawei achieved a 2% year-on-year growth, supported by supply chain optimization and strong sales of the Nova 14 series, alongside continued demand for older flagship models like the Mate 70 series [2] Competitive Landscape - Apple's sales declined by 6% year-on-year, with a 1 percentage point drop in market share, attributed to increased competition from domestic brands like vivo, Huawei, Xiaomi, and Honor, which launched competitive models during the summer [2] - Honor's market share decline is a significant factor in the overall market downturn, prompting the company to initiate a retail channel reform in 10 provinces to improve efficiency and address its market challenges [3] - Counterpoint forecasts a 3%-5% quarter-on-quarter decline in the smartphone market due to weak consumer demand and a lull in new product releases, although the overall annual performance is expected to remain flat compared to last year [3]

Group 1: Robotics - The robotics market is experiencing rapid growth, with 4.2816 million operational robots globally in 2023, highlighting significant penetration in industrial sectors [8] - China is the largest market for industrial robots, with a projected sales volume of 302,000 units in 2024, maintaining its position as the world's largest industrial robot market for 12 consecutive years [8][9] - The production capacity of industrial robots in China increased from 33,000 units in 2015 to 556,000 units in 2024, with service robots showing a 34.3% year-on-year growth [8][9] Group 2: Augmented Reality (AR) Glasses - The AR glasses market is growing rapidly, with projected sales of 286,000 units in China for 2024, driven by technological advancements and increased brand competition [17] - Major players in the global AR glasses market include tech giants like Microsoft and Meta, while Chinese brands like Xreal and Rokid dominate the consumer segment [18] - The integration of AI with AR technology is enhancing functionality, enabling features like real-time translation and scene recognition [19] Group 3: Foldable Screens - The foldable screen market is witnessing explosive growth, with an expected global shipment of approximately 19.83 million foldable smartphones by 2025, reflecting a 6% year-on-year increase [24] - China has become the largest market for foldable smartphones, with a market share expected to remain above 40% over the next five years [24] - Innovations in materials, such as ultra-thin flexible glass, are improving durability and user experience, with penetration rates projected to rise from 65% in 2024 to 85% in 2025 [25] Group 4: Servers - The global server market is experiencing significant growth, with a record revenue of $77.3 billion in Q4 2024, representing a 91% year-on-year increase [30] - China's server market is also expanding, with a projected shipment of approximately 4.55 million units in 2024, reflecting a 22% year-on-year growth [30] - The rise of cloud computing is reshaping server applications, leading to increased demand for server clusters and customized solutions [31]