技术破壁 国产硬核科技引领显示革命 作为智慧显示领域的创新先锋，洛普始终以技术研发破解行业痛点，推动显示技术从"可用"向"好 用""爱用"升级。公司自主研发的国产化沉浸式全透声LED球幕、数字电影LED放映系统等核心产品， 通过跨界技术融合开辟了全新应用场景——从沉浸式观影的震撼体验到大型场馆的高清可视化呈现，洛 普用技术重新定义了显示设备的价值边界。 坐落于南京江北新区的洛普品牌凭借在智慧显示领域的技术突破与生态构建，接连斩获工信部第八批国 家级制造业单项冠军、Thea国际主题娱乐协会杰出成就——技术创新奖等重量级荣誉。从打破高端设备 进口依赖到实现全球市场反向输出，洛普以科技创新为内核、产业融合为路径，书写了中国智慧显示产 业的突围传奇。 这一系列技术突破不仅填补了国内相关领域的空白，更彻底颠覆了国内高端放映设备长期依赖进口的被 动局面。如今，洛普的高端显示产品已成功反向出口至美国、日本、欧洲等科技产业发达地区，连续刷 新国内外市场销售纪录，以中国智造实力赢得全球认可。 破局攻坚 挑战行业巨头重塑竞争格局 面对三星等全球行业先入者的市场优势，洛普并未选择跟随式发展，而是以差异化创新开辟生存空间。 公司创新 ...

Core Viewpoint - The company reported a decline in revenue and net profit for Q2 and H1 2025, indicating challenges in the multimedia and LED segments, while showing growth in the LED industry chain and potential recovery in the optical communication sector [1][2][4]. Revenue Analysis - Multimedia audio-visual revenue for H1 was 5.68 billion (down 18.2% YoY), with TV ODM shipments of 5.23 million units (up 3% YoY) [2]. - LED industry chain revenue for H1 was 2.81 billion (up 8.7% YoY), with semiconductor revenue at 1.42 billion (up 4% YoY) [3]. - Optical communication revenue for H1 was 309 million, showing monthly improvement and potential for profitability in H2 [4]. Profit Analysis - Q2 net profit margin was 6.9% (down 2.3 percentage points YoY), with gross margin down 1.9 percentage points YoY [5]. - H1 gross margins for multimedia and LED segments decreased by 1.0 and 3.9 percentage points respectively, with net profit distribution being approximately 46% and 54% [6]. Investment Outlook - The company maintains a "buy" rating, anticipating improvements in the profitability of the TV ODM Vietnam factory, flexibility from the LED industry chain, and growth potential in optical communication [7]. - Revenue forecasts for 2025-2027 are adjusted to 20.3 billion, 24.1 billion, and 28.4 billion respectively, with net profits expected to be 1.5 billion, 1.9 billion, and 2.4 billion [7].