Core Insights - Lehman Technology's smart integrated machine won the 2025 TITAN Innovation Design Gold Award, showcasing its strength in innovation and technology development [1][2] - The company has previously received multiple international awards, including the German Red Dot Award and the American MUSE Design Award, solidifying its position as a leader in technology [1][2] Product Features - The smart integrated machine features seamless modular design, wireless simplicity, and is equipped with Lehman's patented COB integration packaging technology and Micro LED ultra-high-definition display panel [2] - It offers a smooth and efficient interactive experience with functionalities such as multi-finger roaming, split-screen writing, whiteboard annotation, file management, wireless screen sharing, and remote collaboration [2] Industry Recognition - In addition to the TITAN award, Lehman Technology also won three industry awards at the 2025 Expert Aurora Awards, including "Top 10 LED Display Companies" and "Outstanding Product Award," reflecting its comprehensive recognition in enterprise strength, product quality, and industry influence [2] Event Solutions - Lehman Technology has become a core service provider for major global events, providing specialized LED display solutions for venues like the Shenzhen Bay Sports Center and Dongguan Basketball Center, with a total scale exceeding 500 square meters [3] - The company’s solutions have been validated in high-profile events such as the French Ligue 1 and the Africa Cup, known for high picture quality and reliability [3] Future Directions - Lehman Technology aims to continue leading in COB packaging technology and expand its application scenarios, focusing on providing superior visual experiences and intelligent solutions for customers [3]

Core Viewpoint - TrendForce's latest report indicates that the prices of TV and display panels are expected to remain stable in October 2025, while some laptop panel prices may see slight decreases [2][3]. Panel Price Forecast - The average price forecast for a 65-inch TV panel is $173, with a minimum of $167 and a maximum of $176 [4]. - The average price forecast for a 55-inch TV panel is $124, with a minimum of $118 and a maximum of $127 [4]. - The average price forecast for a 43-inch TV panel is $64, with a minimum of $62 and a maximum of $66 [4]. - The average price forecast for a 32-inch TV panel is $35, with a minimum of $34 and a maximum of $36 [4]. Monitor Panel Price Forecast - The average price forecast for a 27-inch IPS panel is $63, with a minimum of $57.6 and a maximum of $65.8 [5]. - The average price forecast for a 23.8-inch IPS panel is $49.9, with a minimum of $47.1 and a maximum of $51.4 [5]. Laptop Panel Price Forecast - The average price forecast for a 17.3-inch TN panel is $38.2, down by $0.1 (0.3%) from the previous month, with a minimum of $37.6 and a maximum of $39.7 [6]. - The average price forecast for a 15.6-inch Value IPS panel is $40.2, down by $0.1 (0.2%) from the previous month, with a minimum of $38.5 and a maximum of $41.8 [6]. - The average price for a 14.0-inch TN panel has stabilized at $26.9 since early July 2024, with a minimum of $26.4 and a maximum of $28.1 [7].

Group 1: Company Performance - The overseas market showed a good growth trend, achieving revenue of 293,088.14 thousand yuan in 2024, a year-on-year increase of 13.78% [1] - The company has maintained double-digit growth in revenue for three consecutive years, with a three-year compound annual growth rate (CAGR) of 43%, and over 30% CAGR in Europe, North America, and Asia-Pacific regions [2] Group 2: Business Overview - The company is a leading provider of true LED display applications and services, offering a full range of LED display products and professional audiovisual solutions [3] - The company has established a comprehensive global marketing and service network, with a focus on R&D, design, production, sales, and service [3] Group 3: Dividend Distribution - The profit distribution plan for 2024 has been approved, with a cash dividend of 1.5 yuan per 10 shares, totaling 55,365,047.55 yuan [4] - The record date for the dividend distribution is May 27, 2025, and the ex-dividend date is May 28, 2025 [4] Group 4: Development Strategy - The company's development strategy focuses on technology leadership, high-quality LED display products, lifecycle service, and a global sales network to attract quality customers and expand business scale [4] - The company aims to enhance six core competencies to support the execution of its strategy: maintaining technological leadership, leveraging brand influence, building service advantages, creating cost competitiveness, expanding sales channels, and fostering organizational culture [4] Group 5: Industry Outlook - The global LED display market is expected to reach approximately 53.5 billion yuan in 2024, continuing a growth trend [4] - The actual production and sales volume of LED displays is maintaining a double-digit growth rate, with an expected steady growth rate of about 8% in the coming years [4]

Core Viewpoint - Company held a performance briefing on May 12, 2025, to discuss its business model, competitive advantages, growth points, and future development plans in the LED display industry [1][2]. Business Model - The company provides high-quality, high-performance LED display equipment and control solutions, utilizing a combination of order-based and planned production models [2]. - The sales strategy includes direct sales to end customers and a distribution model through contractors and channel partners [2]. Competitive Advantages - The company emphasizes its differentiated core competencies, which include product quality, technological research and development, marketing services, brand value, and talent development [3]. Growth Points - In 2025, the company aims to implement a "251" operational strategy focusing on two key areas, five improvements, and one development goal to enhance its operational effectiveness [4]. - The company has made significant technological advancements, such as improving display contrast by 30% through innovative coating techniques and developing high-grade fire-resistant products [4]. Financial Performance - For the reporting period, the company achieved revenue of 665.48 million yuan, with a net profit attributable to shareholders of 6.34 million yuan [7]. - Management has successfully reduced total expenses by 31.77% year-on-year, despite facing economic challenges and market competition [7]. Future Development Plans - The company plans to focus on its core LED display business, enhancing customer service, optimizing product offerings, and maintaining brand positioning [9]. - The company aims to leverage digitalization and information technology to improve efficiency and reduce operational costs, ensuring sustainable long-term growth [9]. Industry Positioning - The company showcased innovative solutions at the 2025 Shenzhen ISLE exhibition, including outdoor display solutions and a new photovoltaic energy storage display solution, highlighting its commitment to sustainability and technological advancement [8].

Business Model and Market Strategy - The company provides high-quality LED display equipment and control solutions, utilizing a combination of order-based and planned production models [1][2] - Sales strategies include direct sales to end customers and a distribution model through contractors and channel partners [2] Competitive Advantages - The company maintains a differentiated core competitiveness, focusing on product quality, technological research and development, marketing services, brand value, and talent development [3] Growth and Profitability - In 2025, the company has established a "251" operational guideline aimed at enhancing strategic focus and operational efficiency, with specific goals for improvement and development [4][9] - The company reported a revenue of ¥665,483,656.24, with a net profit of ¥6,340,256.15, and managed to reduce total expenses by 31.77% year-on-year [8] Technological Innovations - Significant advancements in LED display technology include improvements in contrast ratio by 30% through innovative coating techniques and the development of high-grade fire-resistant products [5][6] - The company emphasizes collaboration with research institutions to drive innovation in LED technology [6] Strategic Adjustments - Following the divestment of non-LED businesses in 2023, the company aims to concentrate resources on enhancing its core LED capabilities, despite short-term revenue impacts [7] - The company plans to leverage digitalization for efficiency improvements and cost reductions, ensuring high-quality development [12] Future Development Plans - The company is committed to focusing on the core LED display business, optimizing product offerings, and enhancing brand positioning [11][12] - Future strategies include expanding product applications and strengthening partnerships within the industry ecosystem [10]