三利谱 20260106 摘要 三利谱通过出售偏光片业务，并战略性地推动各业务板块发展，尤其是 在电视领域，通过扩产和市场开拓，单季度收入已突破 10 亿元，为 2026 年增长奠定基础。 公司中大尺寸业务受益于欧莱德手机份额提升，预计 2026 年将通过更 多项目实现增长；TV 业务方面，合肥二期新产能正在爬坡，目标是 2026 年全面满产，实现 40 亿以上销售额。 三利谱致力于提高 TV 业务盈利性，通过推动国产化材料进程，2025 年 多种材料国产化率超过 70%，预计 2026 年进一步提升，降低成本，提 高盈利能力，目前整体国产化材料占比已达 20%以上。 公司 OLED 产品 2025 年出货量超 40KK，目标 2026 年达 70KK~80KK 以上，争取 1 亿部，实现约 5 亿元收入及 1 亿元利润，重 点与京东方等面板厂商合作。 中大尺寸 OLED 业务（PC、平板）快速增长，2025 年月度出货超 700 万平米，目标 2026 年达 1,000 万平米以上，实现 10 亿元收入，毛利 率可达 20%以上。 Q&A 请介绍一下三利谱公司在 2025 年的主要发展情况和未来的规划。 2 ...

Core Viewpoint - The article highlights the rapid development and investment in the domestic polarizer industry, particularly focusing on the advancements made by various companies in the production of OLED polarizers and related materials [1][7][8]. Group 1: Company Developments - Nitto Materials Technology (Chengdu) Co., Ltd. has entered the trial production phase of its second OLED polarizer base, with a total investment of 2 billion RMB, aiming for an annual output value exceeding 4 billion RMB upon full production [1]. - Wida Optoelectronics has initiated the equipment installation phase for its third phase of polarizer production, with a total investment of approximately 499.88 million RMB, targeting an annual capacity of 3 million square meters [5]. - Tianlu Technology has commenced a 3 billion RMB project for high-end TAC optical film production, expected to generate an annual output value of 1.3 billion RMB upon full production [5]. - Hongmao Optoelectronics has launched a project for high-end LCD and OLED polarizers with a planned investment of 2.2 billion RMB, aiming for an annual production of 24.6 million square meters and an output value exceeding 2.5 billion RMB [5]. - New Beauty Materials has completed the acquisition of LG Chem's optical functional film materials business for 4.5 billion RMB, with plans to relocate production lines to China, targeting significant production capacities by 2025 [6]. - Shanjin Optoelectronics has finalized the acquisition of LG Chem's OLED polarizer business for 1.407 billion RMB, enabling a swift entry into the automotive display and OLED polarizer markets [6]. Group 2: Industry Trends - The total investment in domestic polarizer projects is projected to exceed 10 billion RMB by 2025, indicating a flourishing development landscape in the industry [4]. - The domestic polarizer industry is experiencing a significant acceleration in localization, driven by mergers and acquisitions that allow companies to quickly acquire technology and production resources [7]. - The increasing demand from local panel manufacturers is supporting the rapid establishment of domestic supply chains, further enhancing the production capacity of polarizer manufacturers [7][8].