Group 1 - The core viewpoint of the article is that the global panel manufacturers' revenue for the first three quarters of 2025 is approximately $86.8 billion, representing a year-on-year growth of 2.0% [4]. Group 2 - The total revenue changes and regional distribution of major global panel manufacturers for the first three quarters of 2025 are discussed [4]. - The revenue and ranking changes of major panel companies for the first three quarters of 2025 are summarized [4]. - The operating profit and ranking changes of major panel companies for the first three quarters of 2025 are analyzed [4]. - Specific revenue and operating profit changes for SDC in Q3 2025, along with key business explanations, are provided [4]. - Specific revenue and operating profit changes for LGD in Q3 2025, along with key business explanations, are detailed [4]. - Specific revenue and operating profit changes for BOE in Q3 2025, along with key business explanations, are outlined [4]. - Specific revenue and operating profit changes for TCL Huaxing in Q3 2025, along with key business explanations, are presented [4]. - Specific revenue and operating profit changes for Tianma in Q3 2025, along with key business explanations, are discussed [4]. - Specific revenue and operating profit changes for AUO in Q3 2025, along with key business explanations, are summarized [4]. - Specific revenue and operating profit changes for Innolux in Q3 2025, along with key business explanations, are provided [4]. - Specific revenue and operating profit changes for Sharp Display Division in Q3 2025, along with key business explanations, are detailed [5]. - Specific revenue and operating profit changes for JDI in Q3 2025, along with key business explanations, are outlined [5].

Industry Trend - Fine M-Tec is positioned as a leading beneficiary of Samsung Display Corporation's (SDC) crease-free display solution for foldable iPhones [1]

Core Viewpoint - The global panel industry is projected to generate approximately $119.6 billion in revenue in 2024, reflecting a year-on-year growth of 6.2% [1]. Group 1: Revenue Changes and Regional Distribution - The total revenue of major global panel manufacturers for 2023 and 2024 shows significant changes, with a focus on regional distribution [2]. Group 2: Revenue and Ranking of Major Panel Companies - The revenue and ranking changes of major panel companies for 2023 and 2024 are highlighted, indicating shifts in market positions [2]. Group 3: Operating Profit and Ranking Changes - The operating profit and ranking changes of major panel companies for 2024 are analyzed, providing insights into profitability trends [2]. Group 4: Revenue Forecast for 2025 - Predictions for the total revenue of major global panel manufacturers in 2025, along with expected regional distribution changes, are discussed [2]. Group 5: Company-Specific Analysis - Detailed analysis of revenue and operating profit changes for key companies such as SDC, LGD, BOE, TCL Huaxing, Tianma, AUO, Innolux, Sharp Display, and JDI for 2024, along with their 2025 revenue forecasts [2].

Core Insights - The company achieved a revenue growth of 9.1% in Q1 2025, reaching DKK 1,744.3 million, while also improving its adjusted EBITDA margin to 17.6% [2][5] - A merger with SDC is underway, forming a new entity called Netcompany Banking Services, expected to be completed around mid-year [2][3] - The company maintains its full-year financial expectations, projecting revenue growth of 5% to 10% and an adjusted EBITDA margin between 16% and 19% [3][4] Financial Performance - Adjusted EBITDA increased by 24.4% to DKK 307.3 million in Q1 2025, with a margin improvement from 15.5% in Q1 2024 to 17.6% [5] - Diluted earnings per share rose by 36.9% to DKK 2.56 [5] - Free cash flow improved significantly to DKK 67.9 million from a negative DKK 4.9 million in Q1 2024 [5] Workforce and Operational Metrics - The average workforce increased by 342 full-time equivalents (FTEs) to 8,150 FTEs in Q1 2025, compared to 7,808 FTEs in Q1 2024 [5] - The cash conversion ratio (tax normalized) was reported at 83.3% in Q1 2025 [5] - Debt leverage improved to 1.2x in Q1 2025 from 1.6x in Q1 2024 [5]

产业洞察 根据Tr e n dFo r c e集邦咨询最新研究，OLED显示技术持续发展，带动QD-OLED显示器(mo n it o r)出 货量成长， 预计在OLED显示器的占比将从2 0 2 4年6 8%提升至2 0 2 5年7 3% ，展现出在高阶显示器 领域的竞争力。受到市场需求趋动，预期未来将有更多品牌和产品线采用QD-OLED技术，以提升画 质表现与刷新率，以满足高阶玩家和专业使用者的需求。 从尺寸发展趋势分析，随着2 7吋UHD新产品推出，以及2 7吋QHD 5 0 0Hz超高刷新率显示器新品引 发市场关注，这种尺寸的机型对电竞与专业领域更有吸引力，也成为QD-OLED显示器市场的主要驱 动力。由于产品阵容更加丰富和技术升级， 预估QD-OLED在2 7吋机型的渗透率可望从2 0 2 4年 3 2%，成长至2 0 2 5年4 7% 。 QD-OLED画面表现细腻，但仍有使用寿命和成本优化等挑战 Tr e n dFo r c e集邦咨询表示，QD-OLED技术的核心优势为透过蓝光OLED激发量子点材料，转换为 红、绿纯色光，从而实现更高的亮度、色彩饱和度与色域覆盖率。 RGB像素亮度提升后，显示 ...

Core Viewpoint - Netcompany Group A/S has received regulatory approvals for the merger with SDC, which aims to create a combined company fully owned by Netcompany to enhance banking services [1]. Group 1 - The merger is part of a strategic initiative to form a new entity that will focus on the future of banking services [1]. - The announcement regarding the merger was initially made on February 10, 2025, under company announcement no. 09/2025 [1]. - The closing of the merger is still subject to customary closing conditions as outlined in the previous announcement [1].