兆驰股份 20250825 摘要 兆驰股份受美国关税政策影响，电视机 ODM 业务承压，主要因北美市 场订单减少。公司积极应对，加速将生产线转移至越南，以降低关税影 响，预计 2025 年第三季度起利润有望恢复。 兆驰股份在 LED 行业已成为领军企业，通过产业链一体化模式（从蓝宝 石切割到封装和直显模组），实现了接近 20%的净利润率，提升了盈利 能力和抗风险能力。 公司通过电视机 ODM 和 LED 产业链闭环，实现高度一体化生产。进军 光通信领域，利用 LED 芯片技术优势，横向切入磷化铟、砷化镓和氮化 镓等光通信芯片材料，并收购瑞谷通信以补充光器件能力。 兆驰股份光通信业务发展迅速，预计 2025 年营收可达四五亿元，已实 现 100G 以下速率光模块产品的验证和出货。2026 年目标是发展 100G 以上速率产品，提高自有芯片比例，毛利率有望接近 25%。 微软推动基于 Micro LED 技术的光学链技术，可能为数据中心链路传输 带来突破，兆驰股份作为 Micro LED 行业龙头，有望受益于该技术在中 国市场的应用潜力。 Q&A 兆驰股份近期的业绩表现如何？其主要原因是什么？ 兆驰股份在 202 ...

Core Viewpoint - The article discusses GoerTek's strategic investment in Haylo to enhance its Micro LED technology and support its AI smart glasses and AR business development [3][9]. Investment Announcement - GoerTek announced a loan of up to $100 million (approximately 714 million RMB) to Haylo to promote the maturity of Micro LED technology and products [3][9]. - The loan will be used by Haylo to acquire 100% of Plessey Semiconductors Limited and to increase Plessey's capital for purchasing Micro LED-related fixed assets and supplementing working capital [5]. Plessey Semiconductors Overview - Plessey, established in 2000, focuses on developing ultra-high-resolution Micro LED displays for AR and VR devices [5]. - Plessey has collaborated with companies like Vuzix and Meta to develop AR/VR micro-display technology [5]. Technological Achievements - Plessey has launched several products, including a monochrome passive matrix Micro LED display and the world's first silicon-based InGaN red LED [6]. - In January 2023, Plessey and Meta announced a breakthrough in developing the highest brightness red Micro LED display, achieving up to 6,000,000 nits brightness at high resolution (<5 microns) [6]. Financial Performance - Despite being in the early stages of Micro LED technology, Plessey reported profitability in recent years, with revenues of approximately $74.79 million and a net profit of about $12.41 million for the fiscal year 2024 [6]. - For the fiscal year 2025, Plessey's revenue is projected to be around $72.72 million, with a net profit of approximately $2.8 million [6]. GoerTek's Business Transition - GoerTek, known for precision components and smart hardware manufacturing, aims to reduce reliance on major clients by expanding its VR/AR headset and smart gaming console business [7]. - In the first half of 2022, smart hardware became GoerTek's largest business segment, boosting the company's overall gross margin [7]. Optical Technology Development - GoerTek established GoerTek Optics in 2012 to focus on the R&D and production of optical display technologies for VR & AR and micro-projection [8]. - The company has developed various AR optical products based on DLP, LCoS, and Micro LED technologies [8]. Strategic Goals - The investment aims to enhance GoerTek's resource integration capabilities in the upstream supply chain and strengthen strategic cooperation with leading industry clients [9]. - This investment is expected to further promote the maturity of Micro LED technology and products, benefiting GoerTek's AI smart glasses and AR business in the future [9].

Group 1: Technology Development - The company focuses on customer-oriented product development, addressing varying technical parameter requirements for different application scenarios in AR glasses [2][3] - Micro LED technology is recognized for its high brightness, efficiency, and longevity, making it suitable for AR/VR devices, despite current production cost limitations [3] Group 2: R&D Personnel Changes - The reduction in R&D personnel in the 2024 report is attributed to business structure optimization, with staff transitioning to production roles to enhance yield and delivery capabilities [3] - The company continues to prioritize R&D innovation by recruiting high-end technical talent, particularly in new display technologies and AR/VR optical solutions [3] Group 3: Production Optimization - Current production optimization efforts focus on centralized production layout and automation to enhance scale efficiency, including streamlining material transfer and optimizing production line layouts [5] - The company aims to strategically focus on high-value products, particularly in Mini/Micro LED and automotive LED sectors, to improve product mix and increase the proportion of high-margin products [5]

Core Insights - The signing ceremony for the Micro LED high-end display manufacturing project by Ralco Technology took place in Suzhou, indicating a significant investment in the Micro LED sector [1] - The project aims to establish a Micro LED glass substrate production line in Kunshan, enhancing Ralco Technology's R&D and industrialization capabilities to lead the industry [1] - Suzhou is recognized as a hub for Taiwanese investment, with a complete industrial chain in the new display industry, which aligns well with Ralco Technology's expertise in Micro LED technology [1] Group 1 - Ralco Technology, founded in Taiwan in 2014, is a leading player in the Micro LED field [1] - The project is expected to inject new vitality into the high-quality development of Suzhou's new display industry [1] - Suzhou's government emphasizes the importance of the new display industry and welcomes further investment from Ralco Technology to enhance innovation and production capacity [1] Group 2 - Ralco Technology's chairman expressed gratitude for Suzhou's support, highlighting the city's complete industrial system and favorable business environment for Taiwanese enterprises [2] - The project aims to strengthen collaboration with Suzhou's supply chain and focus on key core technologies to achieve mutual benefits [2] - The event was attended by key figures from the Jiangsu Optoelectronic Display Industry Alliance and local government leaders, indicating strong regional support for the initiative [2]

Group 1 - The report analyzes the global and Chinese Micro LED transparent screen market opportunities and development prospects from 2025 to 2031 [1][3] - It categorizes Micro LED transparent screens by product type and application, highlighting sales growth trends from 2020 to 2031 [4][5] - The report provides insights into the current status, historical development, and future trends of the Micro LED transparent screen industry [4][5] Group 2 - Global Micro LED transparent screen supply and demand forecasts are presented, including production capacity, output, and utilization rates from 2020 to 2031 [4][5] - The report details the market size and growth rates for different regions, including North America, Europe, China, Japan, Southeast Asia, and India [5][6] - It includes a comprehensive analysis of major manufacturers in the Micro LED transparent screen market, their production capacities, sales volumes, and revenue rankings for 2024 [5][6] Group 3 - The report examines different product types and applications of Micro LED transparent screens, providing sales and revenue forecasts from 2020 to 2031 [8][9] - It analyzes the upstream raw materials and downstream market dynamics, including supply chain and customer analysis [9][10] - The report identifies key industry opportunities and driving factors, as well as potential challenges and policy considerations [9][10]

Core Viewpoint - Recent financing activities in the display technology sector highlight the growth potential of Micro LED technology and new display materials, with companies like Digital Light Chip and Wenshin Technology making significant advancements in their respective fields [1][5]. Group 1: Digital Light Chip - Digital Light Chip has completed a multi-million RMB A+ round financing led by Guangdong Hengqin Shenhe Industrial Investment, with participation from several other investment firms. The funds will be used for ongoing chip R&D, team expansion, and internal restructuring [2]. - The company, established in 2019, specializes in silicon-based micro-display driver chip design, with applications in large screen projection, near-eye projection, automotive projection, and AI projection [2]. - Digital Light Chip has launched a 0.12-inch 480P Micro LED driver solution for AR glasses, which has been adopted by clients across the Micro LED packaging industry, with some achieving mass production in 2024 [2]. - In automotive lighting, the company has developed a digital headlight chip and is working on additional products such as dynamic welcome lights and HUDs [3]. - The company has also made a technological breakthrough with the global launch of a 4K Micro LED projection chip and the world's first 4K Micro LED projector prototype [4]. Group 2: Wenshin Technology - Wenshin Technology has announced the completion of nearly 100 million RMB in B+ round financing, with investors including KIP Capital and Yunjiu Capital [5]. - Founded in October 2019, Wenshin Technology focuses on the R&D of photosensitive organic materials, which are primarily used in new displays and advanced semiconductor packaging [8]. - The company has established production bases in Shanghai and Quzhou, with an annual production capacity of 8,000 tons expected after the completion of its Shanghai Phase II factory [8]. - The recent financing will be utilized to enhance R&D investment, improve product competitiveness, and expand market share, solidifying the company's leading position in the photosensitive organic materials sector [8].

Group 1 - The International Display Week (SID 2025) opened in San Jose, USA, showcasing the world's first 4K Micro LED projection chip solution by Digital Light Chip [1] - Digital Light Chip has developed the first 4K Micro LED projection chip, breaking the current resolution record in the silicon-based Micro LED industry [2][3] - The Micro LED technology is expected to revolutionize the projection industry by reducing system size, increasing brightness, lowering power consumption, and cutting production costs [2][3] Group 2 - Digital Light Chip, in collaboration with Chunfeng Power, introduced a digital projection interactive technology solution for motorcycles, which includes features like navigation and obstacle alerts [4] - The motorcycle digital projection solution is characterized by low power consumption, high brightness, high resolution, compact size, and high reliability, indicating a broad application potential [4] - The solution aims to enhance the intelligence of motorcycles and improve rider safety, filling a gap in the motorcycle industry where such technology is currently absent [4]

Core Viewpoint - Nanolumens and AUO Display Plus have formed a strategic partnership to develop customized display systems for various industries, leveraging their respective expertise in LED design and Micro LED technology [1][2]. Group 1: Partnership Details - The collaboration aims to integrate R&D resources to create new transparent, large-sized, and high-performance display solutions that can blend into architectural environments [1]. - The first showcase of their collaborative results is scheduled for the InfoComm 2025 exhibition from June 11 to 13, 2025 [2]. Group 2: Company Background - Nanolumens, established in 2006, specializes in LED design and manufacturing, offering various series of LED displays with pixel pitches ranging from 0.93mm to 10mm, and is expanding its market presence beyond North America [2]. - AUO Display Plus, a subsidiary of AUO, focuses on industrial and commercial display solutions, applying smart display technologies across multiple sectors including education, healthcare, and transportation [2]. Group 3: Technological Advancements - AUO has been actively developing Micro LED technology, showcasing several products at the Touch Taiwan 2025 exhibition, including the world's largest single Micro LED module and the thinnest 17.3-inch dual-sided transparent Micro LED display [3].

Core Viewpoint - The article discusses the recent financial performance of four display-related companies, highlighting their revenue and profit changes, as well as strategic developments in their respective markets. Group 1: Hanbo High-tech - In 2024, Hanbo High-tech achieved revenue of 2.347 billion yuan, a year-on-year increase of 8.49%, but reported a net loss of 215 million yuan [2] - The company focuses on the automotive backlight display module market, collaborating with major Tier 1 suppliers and automakers [2] - Hanbo has made breakthroughs in Mini LED technology, launching projects with brands like NIO and Chery [2] Group 2: GoerTek - In Q1 2025, GoerTek reported revenue of 16.305 billion yuan, a decrease of 15.57%, while net profit increased by 23.53% to 469 million yuan [3][4] - The company's main business includes precision components, smart acoustic devices, and smart hardware, with products widely used in smartphones and VR devices [4] Group 3: Chipright - In 2024, Chipright's display module shipments reached 117 million units, a year-on-year increase of 5.59%, with revenue of 1.18 billion yuan, up 0.62% [6] - The net profit attributable to shareholders decreased by 28.83% to 118 million yuan [6] - The company is accelerating its Mini LED technology projects and expanding its automotive display business [8] Group 4: Feikai Materials - In 2024, Feikai Materials achieved revenue of 2.918 billion yuan, a year-on-year increase of 6.92%, and net profit of approximately 246 million yuan, up 119.42% [10][11] - The company focuses on electronic chemical materials, particularly in semiconductor and display materials [11][12] - In Q1 2025, Feikai reported revenue of approximately 701 million yuan, a year-on-year increase of 4.81%, with net profit doubling to around 120 million yuan [13]

以下文章来源于LEDinside ，作者Irving LEDinside . TrendForce集邦咨询旗下光电研究处。研究领域包括MicroLED、MiniLED、照明、显示屏、紫外线（UV LED）、红外线 (IR LED/VCSEL)、化合物半导体 等，提供以上各领域的产业研究报告及资讯。 【LEDinside】 3月19日，京东方华灿Micro LED工厂，即全球首条6英寸Micro LED量产产线在珠海金湾区举行产品交付仪式。仪式上，京东方华灿 发布最新Micro LED产品，并向客户正式交付COW（Chip on Wafer）、MPD（Micro Pixel Display）产品。 图片来源：京东方华灿 资料显示，京东方华灿Micro LED工厂由京东方华灿光电（广东）有限公司负责投资建设。工厂于2023年7月底正式动工，在历经封顶、工艺设备 搬入、产品点亮等重要节点后，项目仅用时20个月就实现了产品交付。 京东方华灿Micro LED工厂主要生产Micro LED晶圆和像素器件，面向超大和超小尺寸的高清显示场景，用于大尺寸商用显示、AR/VR头戴式显示 设备和可穿戴设备等应用领域,全部达产后将 ...