Core Viewpoint - The global smartphone panel shipment is expected to grow by 11.4% in 2024, reaching 2.157 billion units, driven by the increase in new smartphone sales and demand for second-hand and refurbished devices. However, a decline of 3.2% is anticipated in 2025, with shipments expected to drop to 2.093 billion units due to stabilizing new device demand and a slight decrease in the second-hand market [1]. Group 1: Company Performance - BOE (京东方) remains the leading global smartphone panel supplier, with shipments projected at 613 million units in 2024 and expected to reach 630 million units in 2025, reflecting a growth of 2.7% [2]. - Samsung Display (三星显示) is forecasted to ship 378 million units in 2024, benefiting from Apple's demand for high-end AMOLED panels. However, shipments are expected to decline to 365 million units in 2025, a decrease of 3.5% due to potential changes in Apple's supplier strategy [3]. - HKC (惠科) is projected to ship 228 million units in 2024, with a slight increase to 230 million units in 2025, growing at a rate of 0.7% [4]. - CSOT (华星光电) is expected to see significant growth, with shipments reaching 215 million units in 2024, marking an 83.2% increase, and a slight rise to 223 million units in 2025 [5]. - Tianma (天马) is anticipated to ship 158 million units in 2024, with a potential 10% increase in 2025, despite facing challenges from declining LTPS LCD demand [6]. Group 2: Market Trends - The demand for AMOLED panels remains strong among smartphone brands, contributing to the overall increase in panel shipments, a trend expected to continue into 2025. However, the demand for LTPS LCD panels used in mid-range smartphones is weakening, posing challenges for suppliers focused on this technology [6]. - The market share of Taiwanese panel manufacturers is gradually shrinking due to the rapid growth of HKC and CSOT. In contrast, Japanese panel manufacturers are exiting the smartphone market, leading to a decline in their market share [6]. - Korean panel manufacturers maintain a competitive edge in the high-end smartphone market, with a market share of approximately 20% to 21% in 2024, while Chinese manufacturers are rapidly expanding their market share, projected to reach 69.8% in 2024 and potentially exceed 70% in 2025 [6].

已应用于大疆、小米等品牌的AR/VR产品。 本文为IPO早知道原创 作者｜Stone Jin 微信公众号｜ipozaozhidao 据IPO早知道消息，视涯科技股份有限公司（以下简称"视涯科技"）于2024年10月11日同海通证券 签署辅导协议，正式启动A股IPO进程。 其中，大疆、小米等既为视涯科技的重要客户、亦为视涯科技的重要股东。 本文由公众号IPO早知道（ID：ipozaozhidao）原创撰写，如需转载请联系C叔↓↓↓ 成立于2016年的视涯科技专注于新一代半导体OLEDoS显示器研发、设计、生产和销售，多年以来 始终致力于打造OLEDoS显示应用生态链，为客户提供端到端微显示相关解决方案。 目前， 视涯科技在合肥新站高新区内建设有一个面积为53763.19平方米的专注于12英寸晶圆硅基 OLED微型显示组件的研发生产基地 ， 每月可生产9000片12英寸晶圆投片 。相较于传统的8英寸 晶圆，12英寸晶圆成本更低、技术平台更先进。此外，视涯科技正在推进第二条生产线建设，以进 一步满足各类客户的产能需求。 在技术侧，视涯科技现已成功掌握电流驱动、高刷新率、广色域、叠层白光OLED器件等一批关键技 术， ...