Core Viewpoint - The article discusses the advancements and financial outlook of Woge Optoelectronics in the glass substrate technology sector, highlighting its strategic positioning in the semiconductor and display industries, particularly in the context of AI computing and advanced packaging technologies [2][4]. Financial Performance - Woge Optoelectronics expects to achieve a revenue of approximately 115 million to 132 million CNY in the first half of 2025, representing a year-on-year increase of 10.36% to 26.68% [2]. - The company anticipates a net loss attributable to shareholders of 65 million to 45 million CNY for the same period, primarily due to increased R&D and management expenses [3][4]. Product Development and Market Position - Woge Optoelectronics is focusing on the application of glass substrates in Mini/Micro LED displays, 5G-A/6G communications, optical modules, and advanced semiconductor packaging [4]. - The company’s subsidiary, Hubei Tongge Micro, has entered small-batch supply for its TGV glass substrate products, collaborating with industry leaders to overcome production standardization challenges [3][4]. Recent Developments - Woge Optoelectronics has made significant strides in 2025, including partnerships in AI chip development and the launch of innovative glass-based Mini LED products [5]. - The company has announced the construction of a new automated production facility to support AMOLED display technologies, with a total investment of 628 million CNY [5].

Financial Performance - In 2024, the company achieved a revenue of CNY 1.253 billion, representing a year-on-year growth of 12.5% [4] - Overseas business revenue reached CNY 974 million, with a year-on-year increase of 22.1%, accounting for 78% of total revenue [4][6] - The overall gross margin improved to 24.1%, up by 1 percentage point, while the overseas gross margin reached 26.5%, an increase of 1.2 percentage points [4] Business Strategy - The company plans to expand its international business by establishing overseas subsidiaries and offices, targeting markets in Asia-Pacific, Middle East, Europe, South America, and Southeast Asia [2][9] - Domestically, the focus will be on strengthening core channels and project coverage, while exploring opportunities in commercial and consumer display sectors [3][16] Product Development - The company is integrating AI technology into its products, enhancing user experience with smart features [5] - It has developed a diverse range of COB products, establishing a competitive edge in the small-pitch display market [5][6] Market Trends - The COB display technology is entering a phase of rapid commercialization, with a projected compound annual growth rate (CAGR) of over 20% from 2025 to 2029 [15] - By 2028, COB displays are expected to account for 45% of the small and micro-pitch market, with a global market size exceeding CNY 30 billion [15][16] ESG Initiatives - The company has incorporated ESG principles into its product design and production, achieving over 50% energy savings with its PSE energy-saving products [7] - It received the "ESG100 Green Development Award - Annual Corporate Governance Award" for its outstanding performance in the ESG field [7] Shareholder Engagement - The company repurchased 12,208,100 shares, representing 2.91% of its total share capital, demonstrating management's confidence in future growth [8] - A third equity incentive plan was implemented, benefiting 275 core employees with 16 million restricted stock grants [8]