Core Points - The recent Section 337 complaint filed by BH Innovations LLC, Longitude Licensing Limited, and 138 East LCD Advancements Ltd. against Chinese display companies highlights the intensifying competition between U.S. and Chinese firms in the global display market [1][2] - The complaint involves allegations of patent infringement related to specific LCD devices and components, with several leading Chinese companies, including Huike, Hisense, and TCL, named as defendants [1][2] - The three complainants are classified as Non-Practicing Entities (NPEs), which typically do not manufacture products but instead acquire patents to pursue litigation for profit [1][2] Industry Analysis - The display industry is a critical component of the technology ecosystem, with new display materials playing a vital role in the value chain [2] - China's display industry has rapidly evolved, becoming the largest global hub, with an estimated market size of $108 billion in 2024, accounting for nearly half of the global market [2] - The number of Section 337 investigations has surged, with 48 cases in 2024, of which 24 involve Chinese companies, indicating a growing trend of legal challenges faced by these firms [2][3] Competitive Landscape - Major competitors, including Samsung Display, Epson, and AU Optronics, have increasingly utilized Section 337 investigations and patent lawsuits against Chinese panel manufacturers [3] - The ongoing legal actions are seen as tactics by international competitors to slow down the progress of Chinese display companies as they gain market share and influence [3] Response from Chinese Companies - Chinese display companies are demonstrating a more mature and assertive approach in defending their rights amid rising international competition [4] - Huike, for instance, has established a significant technological advantage with 7,418 patents, particularly in the large-size display panel sector [5] - Chinese manufacturers now control approximately 70% of global LCD production capacity and are focusing on high-end products, including Mini-LED technology, to enhance their market position [6] Innovation and Future Outlook - Continuous innovation and increased R&D investment are essential for Chinese display companies to navigate external risks and maintain competitiveness in the global market [6] - The outcome of the ongoing patent disputes will be closely monitored, but the established Chinese display industry is expected to face challenges with confidence and resilience [6]

Group 1 - Company will continue to increase investment in perovskite solar cell research and development, focusing on improving key technical indicators such as photoelectric conversion efficiency, stability, and lifespan [1] - Perovskite solar cells, as a representative of third-generation nanofilm batteries, have significant advantages including high efficiency, lightweight, and flexibility [1] - The company leverages its long-term accumulated capabilities in glass-based processing, thin-film preparation, packaging, and large-scale intelligent manufacturing to support the R&D and production of perovskite solar cells, accelerating the industrialization process [1] Group 2 - The company is currently focused on enhancing the efficiency and lifespan of perovskite batteries, aiming to address the challenges of industrializing perovskite thin-film solar cell technology [1] - A demonstration power station with a capacity of hundreds of kWh has been established, and additional outdoor verification stations will be built to comprehensively assess the stability of perovskite components in practical applications [1] - The company successfully produced the first 1.2m x 2.4m perovskite photovoltaic component on October 18, marking a significant step in the industrialization of perovskite technology [1] Group 3 - The company is accelerating research to meet ISOS and IEC standards for lifespan solutions, aiming to provide technical solutions for large-scale production lines [1] - The company plans to expedite the industrialization process, transitioning from pilot line technology to large-scale production while continuously reducing production costs [1] Group 4 - At the Global Mobile Communications Conference, a brand under the company launched the world's first solar charging mobile phone utilizing the company's perovskite photovoltaic technology, showcasing the application potential of perovskite technology in diverse scenarios [2]

证券日报网讯 京东方Ａ（000725）11月26日在互动平台回答投资者提问时表示，京东方与三星显示经 多轮沟通协商，双方已就显示领域知识产权方面的争议达成和解，此次双方和解将有助于推动全球显示 产业的健康有序发展，并为行业实现高价值增长发挥关键作用。 ...

Core Viewpoint - The U.S. International Trade Commission (ITC) has initiated a "337 investigation" into specific liquid crystal devices and components, targeting several Chinese companies, including Huike, Hisense, and TCL, as well as international firms like LG and Westinghouse. This investigation stems from a complaint by BH Innovations LLC, alleging patent infringement on two U.S. patents [1][2]. Group 1: Investigation Details - The investigation was triggered by a complaint filed on August 29, claiming that certain products exported to and sold in the U.S. infringe on two U.S. patents (patent numbers 7,705,948 and 7,570,334). The ITC may issue exclusion and cease-and-desist orders if infringement is found [1]. - The implicated Chinese companies are significant players in the display industry, with Huike being a manufacturer of panels and terminal devices, while Hisense and TCL hold over 50% of the North American television market share [1]. Group 2: Involved Companies - The list of defendants includes numerous companies from various countries, such as: - Chinese companies: Guangdong Huike, Chongqing Huike, Hisense Group, TCL Electronics, and others [2]. - U.S. companies: HiSense US Corporation, VIZIO Holding Corp., TTE Technology Inc., LG Electronics USA, and Westinghouse Electric Corporation [3]. - Other international companies: TCL Smart Device (Vietnam) Co. Ltd. and LG Electronics, Inc. from South Korea [3]. Group 3: Industry Context - This is not the first instance of Chinese display companies facing a 337 investigation; Corning has previously initiated similar investigations against Chinese firms, focusing on patent barriers. Industry experts suggest that these investigations aim to curb the technological advancements of the Chinese display industry, particularly after domestic companies have significantly reduced the prices of products like glass substrates [3]. Group 4: Response Strategies - Chinese companies are not without recourse; for instance, BOE successfully defended against a previous OLED patent investigation by engaging in proactive measures and patent invalidation strategies. The current defendants have also begun their response procedures, including filing for patent invalidation reviews with the U.S. Patent and Trademark Office. However, the investigation process typically lasts 16-18 months, during which companies face high litigation costs and potential market share fluctuations [4].

Core Viewpoint - The article highlights significant investments and developments by Huike in the Mini-LED and optical film sectors, indicating a strong commitment to expanding production capabilities and enhancing the supply chain in the display materials industry [1][2][3][4]. Group 1: Mini-LED Projects - Huike's Mini-LED backlight and direct display module project in Liuyang, Hunan, has a total investment of 9 billion yuan and is expected to complete its main structure by January next year [2]. - In addition to the Liuyang project, Huike is advancing Mini-LED projects in Mianyang and Nanchong, Sichuan, with a 5 billion yuan investment in Mianyang for 12 backlight module production lines and 8 direct display module production lines, projected to generate an annual output value of 7 billion yuan [3]. - A 10 billion yuan full-color M-LED chip base project in Nanchong is also underway, with an initial capacity of 150,000 pieces per month, aimed at bolstering the local display chip industry [3]. Group 2: Optical Film Production - The high-end optical film production base project in Hefei has completed acceptance checks, marking a significant milestone in the establishment of advanced manufacturing capabilities in this sector [4]. - The Hefei project covers an area of approximately 70 acres and includes the construction of multiple factory buildings, focusing on the production of high-end optical films to enhance the resilience of the supply chain [6]. - A related investment of 4 billion yuan is planned for an OLED new materials project, which will include four production lines for core materials used in optoelectronic displays [6].

（编辑 袁冠琳） 证券日报网讯 京东方A11月21日发布公告，在公司回答调研者提问时表示，京东方与三星显示经多轮沟 通协商，双方已就显示领域知识产权方面的争议达成和解，并已向ITC提交了共同中止并终止调查申 请，后续将尽快撤销美国337调查及其他关联案件。此次双方和解将有助于推动全球显示产业的健康有 序发展，并为行业实现高价值增长发挥关键作用。公司注意就此次和解出现了一些基于第三方推测的报 道。京东方认为，任何脱离这一积极共识、片面解读和解细节的行为，都无法准确反映此次合作的根本 价值与重要意义。行业的健康发展，依赖于所有参与者对契约精神的遵守和对事实本身的尊重。京东方 一贯主张合作共赢的竞合态度，并在创立30余年来建立了完善的知识产权保护体系，这是公司参与全球 竞争、与业界伙伴共赢合作的基石。京东方期待与全球伙伴一道，将精力聚焦于未来，共同推动OLED 产业的良性健康发展。 ...

Core Insights - The display technology sector is becoming a crucial arena for technological innovation as the digital economy integrates with the real economy, highlighted by the recent 2025 Tianma Microelectronics Global Innovation Conference in Wuhan showcasing 11 innovative technologies [1] Industry Overview - The display industry is a core pillar of the electronic information industry and plays a significant role in high-quality development of manufacturing, with China's new display industry transitioning from following to leading in certain areas, supported by national policies and collaborative efforts among industry players [2] - In 2024, China's new display industry is projected to exceed 760 billion RMB in output value, capturing over 49% of the global market share, with a 75% share in global display device shipment area, establishing itself as a significant growth driver in the global display industry [2] Technological Innovation - Tianma Microelectronics emphasizes that technological innovation is fundamental for the company and the industry, with recent advancements including the launch of the high-end OLED technology brand "Tiangong Screen" and the high-end vehicle display brand "Tianxuan Screen" [3] - The Tiangong Screen features integrated functions such as fingerprint recognition and environmental light sensing, with a 99% reduction in sensor thickness and a 40-fold increase in light signal collection capability [3] - The Tianxuan Screen series includes a 49.6-inch panoramic display with a 1.25-meter ultra-wide curved design and an IRIS HUD with 12,000 nits brightness, achieving a 40% reduction in power consumption [4] Collaborative Ecosystem - The success of China's display industry relies on collaborative efforts across the entire supply chain, with Tianma Microelectronics fostering partnerships with upstream companies like 3M and collaborating with domestic equipment manufacturers for Micro-LED technology [5] - The company has established stable partnerships with major automotive and consumer electronics brands, enhancing the overall ecosystem [5] Future Development Strategy - Tianma Microelectronics is committed to a dual focus on high-quality development and green transformation, implementing initiatives for energy efficiency and resource recycling [7] - The company has developed new materials that improve blue light efficiency by 10% and reduce overall power consumption by 12%, while also promoting a carbon neutrality plan across its operations [7] - Looking ahead, Tianma aims to deepen the integration of display technology with AI and expand its efforts in vehicle displays, Micro-LED, and VR/AR sectors, positioning itself as a leader in the global display industry [7]

Core Insights - The article highlights the transformation of China's display industry from a reliance on foreign technology to becoming a global leader, showcasing China's rapid technological advancement and self-reliance in high-level technology [1][4]. Group 1: Market Position and Growth - China's display panel global market share has reached 55%, and the display materials market share is at 43%, both ranking first globally, with the industry's output value accounting for nearly half of the global market [1]. - The display industry has evolved significantly over the past two decades, overcoming initial challenges and reducing foreign dependency, which previously saw display panels as the fourth largest import product [1][2]. Group 2: Policy and Strategic Support - The rise of "China Screen" is attributed to proactive policy frameworks and government-enterprise collaboration, starting with the 2009 "Electronic Information Industry Adjustment and Revitalization Plan" that aimed to overcome bottlenecks in the new display industry [2]. - Subsequent policies and plans, including the "12th Five-Year Plan for Electronic Information Manufacturing" and the "Action Plan for Innovative Development of New Display Industry (2014-2016)," have further propelled the industry forward [2]. Group 3: Innovation and Technology Development - A clear understanding of industry trends and a commitment to independent innovation have been crucial for the development of the display industry, with companies adopting a dual-track strategy to navigate technological shifts [3]. - During the "14th Five-Year Plan" period, R&D investment in the display industry is expected to grow annually by 18%, with patent applications accounting for 42% of the global total, indicating a strong focus on innovation [3][4]. Group 4: Supply Chain and Market Advantages - Significant advancements have been made in key materials and upstream manufacturing equipment, with domestic replacement rates for polarizers and photoresists exceeding 60%, and market shares for domestic deposition and exposure machines rising to 35% [4]. - The vast domestic market and diverse application scenarios, including smartphones, electric vehicles, and AI technologies, have created substantial growth opportunities, with projections estimating the new display industry's output value to approach 800 billion yuan by 2025 [4].

从"市场换技术"到"技术创市场"，"中国屏"的逆袭之路，是中国"大踏步赶上时代"的一个生动缩影，积 聚起加快高水平科技自立自强的志气和底气 中国电子信息产业发展研究院公布的数据显示，我国显示面板全球市场占有率达55%，显示材料市场占 有率达43%，均居全球第一，产值规模已占全球"半壁江山"。 显示产业在高端制造业中具有重要战略地位，我国从20世纪末就开始探索和发展显示产业。10多年 前，"缺芯少屏"一度制约着我国电子信息产业的发展，其中，显示面板曾是我国第四大进口产品，对外 依赖严重。 彼时，我国显示产业起步艰难，话语权基本掌握在国外少数企业手中，国内电视机、手机厂商一度只能 被动接受高昂定价，有时甚至需要"排队"采购屏幕。历经20多年发展，我国显示产业从小到大、由弱变 强，关键核心技术加快突破，一批企业迅速成长，成为全球显示产业的重要增长极。 二是对产业发展趋势的清晰判断、对自主创新的长期坚守。在显示产业几十年来的发展中，各种技术路 线涌现，既带动了产业升级，也促进了"优胜劣汰"。对投资巨大的显示产业来说，如果方向研判失误， 会造成难以估量的影响。在液晶技术发展早期，我国企业就敏锐地意识到技术变革的到来，着 ...

Core Viewpoint - The leading domestic OLED panel manufacturer Visionox (002387) is set to welcome state-owned capital control through a private placement to Hefei Jianshu Investment Co., Ltd, which will increase its stake to 31.89%, transitioning the company from having no actual controller to being state-controlled, potentially enhancing long-term value across various dimensions such as strategic planning and market confidence [1][2]. Group 1: Capital Increase and Control Change - Visionox plans to issue 419 million shares at a price of 7.01 yuan per share, raising up to 2.937 billion yuan, which will be used to supplement working capital and repay debts [1]. - Hefei Jianshu, a state-owned investment platform, previously held 11.45% of Visionox's shares, and this capital increase will solidify its position as the controlling shareholder [1][2]. Group 2: Industry Context and Collaboration - Hefei is a core city in China's display industry and ranks first in the "Top Ten Cities for High-Quality Development of China's New Display Industry" for 2024-2025 [2]. - Visionox has established a strong operational foundation in the OLED sector, with advanced production lines in multiple locations, including a sixth-generation flexible AMOLED production line in Hefei [3]. Group 3: Financial Strength and Market Position - The capital increase will enhance Visionox's financial strength and optimize its capital structure, providing a stable foundation for long-term strategic development and business sustainability [4]. - Visionox ranks third globally in AMOLED smartphone panel shipments, with a year-on-year increase of 16.7% in the third quarter of 2025, reflecting a recovering market [4]. Group 4: Innovation and Technology - Visionox's ViP technology enhances production efficiency and product performance while circumventing foreign technological barriers, positioning the company strategically in high-end display sectors [5]. - The company has received significant awards for its innovations, indicating a strong competitive edge and commitment to advancing the OLED industry [5].