Core Viewpoint - The completion of the main plant for the 8.6-generation AMOLED production line in Hefei marks a significant advancement in the mass production of the ViP technology, which is a breakthrough in AMOLED manufacturing [4]. Group 1: Project Overview - The 8.6-generation AMOLED production line is located in Hefei New Station High-tech Zone and is constructed and operated by Hefei Guoxian, which is funded by Visionox and Hefei's investment platform [4]. - The total investment for the production line is 55 billion yuan, with a designed capacity of 32,000 glass substrates per month (2290mm × 2620mm) [4]. - The main plant was topped out in just 168 days since the civil construction began in February 2025 [4]. Group 2: Technology and Advantages - The production line utilizes Visionox's self-developed ViP technology, which employs semiconductor photolithography to produce AMOLED pixels, eliminating the limitations of traditional FMM processes [4]. - ViP technology offers independent pixels, high precision, and high yield, significantly improving the cutting efficiency and cost-effectiveness of AMOLED panels [4]. - This technology aims to provide more solutions for the mid-to-large size high-end display markets, including tablets, laptops, and automotive displays [4].

Core Viewpoint - LG Display (LGD) is evaluating a new OLED panel technology that does not use Fine Metal Mask (FMM), instead utilizing semiconductor photolithography for production, which may enhance production efficiency and expand future potential [1][8]. Group 1: Technology Development - LGD plans to test the no-FMM technology on its E4 production line in Paju, which currently has low utilization rates [2][3]. - The new production line has installed Chemical Vapor Deposition (CVD) equipment and aims to produce OLED panels using a method similar to eLEAP technology [3]. - LGD's primary focus is on WOLED (White OLED) and POLED (Plastic OLED) technologies, targeting large and medium/small size applications respectively [4][6]. Group 2: Market Position and Competition - LGD is currently the only manufacturer producing large-size WOLED TV panels at scale, while competing with Samsung Display in the POLED segment [4][6]. - The no-FMM technology could complement LGD's existing WOLED technology, allowing for a broader range of panel sizes and applications, including laptops and automotive displays [9][20]. - The no-FMM technology is gaining attention as FMM approaches its physical limits, with challenges in resolution and material utilization [10][12]. Group 3: Industry Trends - The OLED market is seeing a shift towards medium-sized applications, with increasing demand for high-quality displays in laptops and automotive sectors [45][52]. - Companies like JDI and Visionox are also developing no-FMM technologies, indicating a competitive landscape forming among major players in the OLED market [23][29][40]. - The no-FMM technology is expected to significantly reduce production costs and material waste, enhancing overall efficiency in OLED manufacturing [19][49]. Group 4: Future Outlook - The no-FMM technology is still in its early development stage, with challenges remaining before mass production can be achieved [54][55]. - As the OLED market expands, companies investing in no-FMM technology are likely to see growth opportunities, particularly in the medium-sized display segment [53].