Group 1: Company Development Trends - The global market size for Mini LED (MLED) is expected to reach $33 billion by 2028, with a compound annual growth rate (CAGR) of approximately 40% from 2024 to 2028 [2][3] - The company has proactively laid out relevant technologies in the MLED field and has launched core detection equipment and integrated circuits, anticipating rapid revenue growth from MLED [2][3] Group 2: Overseas Market Strategy - Despite domestic market pressures, the overseas market is expected to maintain good growth momentum, supported by a comprehensive overseas sales system covering key regions globally [3] - The company's overseas revenue increased by 32.03% in 2024, accounting for 19.10% of total revenue; in the first half of 2025, overseas revenue grew by 21.31% year-on-year, making up 22.89% of total revenue [3][4] Group 3: Product Innovation and Virtual Shooting - The company is focused on exploring high-value areas in downstream applications and is committed to continuous technological innovation and product upgrades to enhance profit margins [3] - Virtual shooting, a significant application area, offers advantages over traditional green screen methods, improving production efficiency and visual effects; the company's solutions are already applied in various domestic and international virtual studios [3][4] Group 4: Future Development Strategy - The company aims to enhance and solidify its market position by focusing on long-term development, innovating across R&D, production, and sales, and increasing investment in R&D [4] - There is a commitment to strengthen technical cooperation with leading enterprises and research institutions in the industry to maintain a competitive edge in emerging fields [4]

Core Insights - Nanjing Guozhao Optoelectronics Technology Co., Ltd. has been recognized in the "Future Industry Leading Enterprises" list by the Ministry of Industry and Information Technology for its innovative capabilities and market leadership in silicon-based OLED microdisplay technology [1] Group 1: Company Overview - Guozhao Optoelectronics was established in 2019, emerging from the China Electronics Technology Group Corporation's 55th Research Institute, and has since achieved multiple successful technology transfers in silicon-based OLED microdisplay technology [1][2] - The company has developed a unique competitive edge in the field of silicon-based OLED microdisplay technology, which combines the self-emissive characteristics of OLED with the precise control capabilities of semiconductor silicon substrates [1] Group 2: Technology and Innovation - Silicon-based OLED microdisplay technology allows for independent control of each pixel without the need for a traditional LCD backlight, resulting in displays that are lighter, more energy-efficient, and capable of meeting high brightness, high resolution, high refresh rate, and long lifespan requirements [1] - Compared to LCD and standard OLED, the silicon-based OLED microdisplay products developed by Guozhao Optoelectronics feature high integration, low power consumption, compact size, and a wide operating temperature range, making them suitable for smart wearable devices [2] Group 3: Research and Development - The first prototype of the silicon-based OLED microdisplay was developed in 2015, and the team has since focused on enhancing technology transfer and establishing a complete R&D platform with initial small-scale production capabilities [2] - The company has implemented a multi-faceted approach to overcome production challenges, including establishing key process monitoring mechanisms and increasing R&D investment to improve the stability of core technologies [3] Group 4: Market Applications - Guozhao Optoelectronics has successfully translated its technological advantages into a variety of application products across consumer electronics and outdoor observation sectors, including digital camera viewfinders, smart glasses, handheld night vision devices, and outdoor binoculars [3] - The rise of AR/VR and industrial metaverse applications is expected to further expand the use cases for silicon-based OLED microdisplay technology, illuminating more application scenarios [3]

Group 1 - The core viewpoint of the news is that Shenzhen Lehman Optoelectronics has received a patent authorization from the US Patent and Trademark Office for its COB Pixel Engine (PSE) technology, indicating its originality and innovation in the display technology sector [1] - The company began its global patent pool layout for the COB Pixel Engine after obtaining domestic patent authorization in 2020, and after five years, it has now secured patents in multiple countries including Canada, Germany, Australia, and Japan, with more countries in the process of confirmation [1] - The pixel engine display technology integrates advanced hardware design and intelligent algorithms, innovatively transforming the traditional RGB arrangement of LED chips into an RGBG arrangement, significantly enhancing display performance [1] Group 2 - Compared to traditional LED screens, the company's pixel engine display technology offers significant advantages, such as a cost-effective increase in resolution for 4K MicroLED displays, where only a one-third increase in chip cost can theoretically quadruple the resolution [2] - The pixel engine technology also excels in energy-saving capabilities, allowing displays to save a substantial amount of electricity annually [2] - Since the official release of the pixel engine display technology in 2020, it has been rapidly adopted in various MicroLED display products across multiple sectors, including professional display, commercial display, home giant screens, and conference products, thereby accelerating the commercialization of MicroLED technology [2]

Investment Rating - The report indicates a strong growth potential for the micro-display technology industry, with a projected compound annual growth rate (CAGR) exceeding 20% from 2024 to 2032 [8][10]. Core Insights - The micro-display technology is driven by the increasing demand for high-resolution, small-sized, and low-power near-eye displays, particularly in emerging applications like VR and AR, which are expected to create a significant incremental market [8][9]. - The market size for micro-display technology is estimated to reach $2.41 billion in 2023, with the near-eye device segment accounting for over 45% of industry revenue [8][9]. - Different micro-display technologies have their advantages and disadvantages, often overlapping in application scenarios, leading to competitive dynamics within the industry [13][14]. Summary by Sections 1. Market Growth - The micro-display market is expected to grow significantly, with a CAGR projected to exceed 20% from 2024 to 2032, driven by advancements in semiconductor technology and the rise of VR/AR applications [8][10]. - The near-eye device segment, including AR/VR headsets and smart glasses, is a major contributor to this growth, representing over 45% of the market revenue [8][9]. 2. Micro-Display Technologies - Micro-display technologies can be categorized into two main types: self-emissive technologies (LCD, Micro OLED, Micro LED) and reflective technologies (LCoS, DLP, LBS) [13][14]. - Each technology has unique strengths and weaknesses, with significant competition in various application areas [13][14]. 3. Key Technologies - Fast LCD technology, combined with Mini LED backlighting, enhances the performance of LCDs in micro-display applications, making it a cost-effective option [15]. - Micro OLED technology is rapidly developing but faces uncertainties in its technological path [20][21]. - Micro LED technology is seen as a future display solution, although it currently faces challenges related to mass transfer technology [27][28]. - LCoS technology has achieved high maturity and is being utilized in AR/VR and HUD applications [31]. - DLP technology is primarily used in projectors and is expanding into new fields such as AR and 3D printing [35]. - LBS technology is favored for its compact size and high efficiency, particularly in AR/VR applications [38]. 4. Market Leaders - Major players in the micro-display field include Samsung, LGD, Sony, JVC, Kopin, SMD, and BOE, each focusing on different technologies and applications [49][52][56][59][62][72]. - Samsung has made significant investments in Micro OLED technology, while LGD focuses on high-brightness Micro OLED displays [49][52]. - Sony is a leader in LCoS technology and has a strong presence in the silicon-based OLED market [56]. - BOE is actively expanding its capabilities in Micro OLED and Micro LED technologies [72].

Group 1: Market Potential and Technology - The market for small to medium-sized OLED shipments is expected to exceed 1 billion units by mid-2025, covering devices such as smartphones, smartwatches, and AR/VR/MR headsets [2] - LIPO technology, as an innovative process related to OLED screens, has numerous advantages and has already achieved mass production in projects like wristbands and smartphones [2] - The demand for LIPO technology is anticipated to grow rapidly as products evolve towards higher precision, lighter weight, and greater integration [2] Group 2: Automotive Projects - The company has recently supplied its automotive backlight display technology for the new 17.3-inch rear ceiling entertainment screen in the new M7 and the 16-inch 3.5K Mini-LED central control screen in the Zeekr 9X [2] - The company aims to leverage its overall solution capabilities in smart cockpit displays and will increase market expansion efforts to drive faster business growth [2] Group 3: Investor Relations Activity - The investor relations activity was conducted on September 12, 2025, at Guanghao Industrial Park, Longhua District, Shenzhen [2] - The meeting was attended by Liu Junli, the Deputy General Manager and Board Secretary, and Li Shuhan, the Securities Affairs Representative [2] - The activity did not involve any undisclosed significant information [2]

Core Viewpoint - Nova Star Cloud (301589.SZ) has indicated that its products are widely applicable in various fields such as performing arts stages, exhibitions, celebrations, and creative displays, but it has not yet served the drone performance sector [1] Group 1 - The company’s products are utilized in performing arts stages [1] - The company’s products are utilized in exhibitions and displays [1] - The company’s products are utilized in celebration activities [1] Group 2 - The company’s products are utilized in creative display applications [1] - The company has not yet entered the drone performance market [1]

Core Viewpoint - Jiangxi Yihua Display Technology Co., Ltd. has been established with a registered capital of 60 million RMB, indicating a new player in the display technology sector [1] Company Summary - The legal representative of Jiangxi Yihua Display Technology Co., Ltd. is Lin Weili [1] - The company has a registered capital of 60 million RMB [1] - The business scope includes various licensed and general projects such as road cargo transportation (excluding hazardous goods), technology services, development, consulting, and manufacturing of display devices and electronic components [1] Industry Summary - The company is involved in the manufacturing of electronic components and specialized electronic materials, which positions it within the growing electronics and display technology industry [1] - The business activities also encompass import and export of goods and technology, as well as domestic trade agency services, reflecting a comprehensive approach to market engagement [1]

Core Viewpoint - The company has intensified its development and application of movie screens over the past two years, focusing on high cost-performance and stronger scene adaptability in its innovative products [1] Group 1: Product Development - The company is continuously deepening its display technology while vertically integrating its supply chain [1] - It is launching innovative products that offer high cost-performance and better scene adaptability [1] Group 2: Market Strategy - The company is building an open ecological cooperation platform to enhance its marketing network [1] - It aims to connect customer resources from the display sector and the cultural tourism night tour sector [1] Group 3: Commercialization Efforts - The company is accelerating the application and commercialization of innovative products in the consumer market [1]

Core Viewpoint - The Global Product Technology Innovation Awards recognized BOE's UB Cell 4.0 high-end TV display technology solution, which won the gold award for its intelligent eye-care technology, showcasing the company's commitment to innovation and technology leadership in the display industry [1]. Group 1: Product Innovation - The UB Cell 4.0 utilizes new circular polarized light eye-care technology, simulating natural light to reduce eye strain while enhancing color reproduction to 95% of the BT2020 color gamut, providing a vibrant viewing experience [2]. - The technology achieves an ultra-low reflection rate of only 0.7% and an ambient contrast ratio (ACR) exceeding 1400, setting a new industry standard for comfort and glare reduction [2]. - The TV features a Mini LED backlight, a high refresh rate of 165Hz, and a motion picture response time (MPRT) of approximately 2ms, ensuring clear and smooth dynamic images while minimizing dizziness [2]. Group 2: Smart Features and Energy Efficiency - The UB Cell 4.0 includes an AI digital assistant that understands user intent and can manage smart home devices, enhancing user interaction and convenience [3]. - The display technology allows for customizable refresh rates and can reduce power consumption by up to 50% depending on the application scenario, demonstrating a commitment to energy efficiency [3]. - Integrated sensors and radar systems enable the TV to adjust settings based on environmental conditions, promoting intelligent energy management [3]. Group 3: Research and Development Commitment - The company invests approximately 7% of its revenue annually in R&D, with 1.5% specifically allocated to foundational and cutting-edge technology research [5]. - As of 2024, BOE has filed over 100,000 patents, with more than 90% being invention patents and over 33% filed overseas, indicating a strong focus on innovation [5]. - BOE ranks 12th globally in patent grants and has consistently been in the top 20 for seven consecutive years, reflecting its significant contributions to technology [5]. Group 4: Industry Leadership and Standards - BOE is actively involved in the development and revision of 429 domestic and international technical standards, transitioning from a technology innovator to a standard setter in the display industry [6]. - The UB Cell series has received multiple prestigious awards, including the IFA Technology Gold Award and CES Innovation Gold Award, validating its technological advancements and market acceptance [5]. - The UB Cell 4.0 sets new benchmarks in eye-care, image quality, and smart interaction, potentially establishing future industry standards for high-end televisions [5].

Core Viewpoint - TCL Huaxing has successfully developed and is set to mass-produce printed OLED technology, marking a significant advancement in China's display industry, transitioning from a follower to a leader in global display technology [3][18]. Group 1: Technology Development - TCL Huaxing began investing in printed OLED technology research in 2013 and will officially enter mass production in 2024 [3][18]. - Printed OLED is the first display technology led by a Chinese company to enter commercial use globally, showcasing a breakthrough in the display industry [3][18]. - The technology is characterized by its ability to achieve high resolution, low power consumption, and flexible displays, with significant improvements over traditional LCDs [6][10]. Group 2: Product Features - The printed OLED product family ranges from 6.5 inches to 65 inches, providing a high-end display experience across various devices, including smartphones, tablets, laptops, and TVs [4][10]. - Printed OLED displays utilize self-emissive technology, allowing for pixel-level brightness control, resulting in vibrant colors and a wider color gamut [6][8]. - The technology reduces harmful blue light emissions to 15%, promoting visual health for users who spend extended hours in front of screens [10]. Group 3: Production Advantages - Printed OLED technology offers a completely independent development path compared to traditional vapor-deposited OLED, which is dominated by Japanese and Korean companies [15][16]. - The production process of printed OLED is more efficient, achieving a 90% material usage rate and reducing costs by at least 20% compared to traditional methods [15][16]. - The technology requires less stringent vacuum conditions and lower temperature drying, leading to significant energy savings, estimated at 300-400 million kWh annually [15][16]. Group 4: Market Impact - The successful mass production of printed OLED technology is expected to make high-quality OLED displays more affordable and accessible to the general public [20]. - TCL Huaxing's commitment to long-term investment in technology has resulted in over 65,000 global patent applications, establishing a strong technological barrier in the printed OLED field [18][20].