Core Viewpoint - The price war in the display industry is a long-standing phenomenon, and rather than condemning it, companies should focus on enhancing experience and performance to mitigate its impact [1] Industry Summary - The 22nd ChinaJoy will take place from August 1 to 4 at the Shanghai New International Expo Center [1] - The domestic esports monitor market saw significant growth, with 2.58 million units sold in the first quarter, indicating a shift towards higher-end products [1] - The 4K high-end segment experienced a 75% increase, significantly outpacing the overall market growth [1] Company Summary - TCL Technology's Senior Vice President and CEO of TCL Huaxing, Zhao Jun, emphasized the importance of technological and product upgrades over price competition [1] - The company believes that improving product specifications and user experience is a more sustainable approach than engaging in price wars [1]

Core Viewpoint - Recent projects in Guangzhou and Nanjing have commenced, with a total investment exceeding 3 billion yuan, focusing on electronic paper and automotive display sectors [1]. Group 1: Guangzhou Project - The Guangzhou Rongjie Display Technology flexible color display module manufacturing base phase one project has started construction [2]. - The project has a total investment of several hundred million yuan, covering an area of over 50,000 square meters, and will include modern factories, R&D centers, and supporting facilities [4]. - Upon reaching full production, the project is expected to produce tens of thousands of square meters of color electronic paper materials, 20 million flexible color electronic paper displays, and 1 billion electronic tags annually [4]. - The project is led by Guangzhou Rongjie Display Technology Co., Ltd., a subsidiary of Rongjie Group, which focuses on flexible electronic paper display materials and related technologies [4]. Group 2: Nanjing Project - The Ruihua automotive display cover and module project commenced on July 26 in Nanjing [5]. - This project has a total investment of approximately 3 billion yuan and covers about 180 acres, with the first phase utilizing around 78 acres [5]. - Once completed, the project is expected to produce approximately 3 million automotive display glass covers, 1 million automotive display modules, and 500,000 HUD display modules annually [5]. - The project is being developed by Guangdong Ruihua Optoelectronics Technology Co., Ltd., which specializes in automotive display components [6].

Market Performance - A-shares saw collective gains on July 22, 2025, with the Shanghai Composite Index rising by 0.62%, Shenzhen Component Index by 0.84%, and ChiNext Index by 0.61%, while the total trading volume reached approximately 1,893.038 billion yuan, an increase of about 193.058 billion yuan from the previous trading day [1] - Hong Kong stocks experienced a morning surge followed by a pullback, with the Hang Seng Index closing up 0.54% at 25,130.03 points and a total trading volume of 2,660.73 billion HKD [1] - U.S. stock indices showed mixed results, with the Dow Jones Industrial Average increasing by 0.40% to 44,502.44 points, while the Nasdaq Composite fell by 0.39% to 20,892.69 points [1] New Stock Listings - Jiyuan Group, with a stock code of 603262, was listed at an issuance price of 10.88 yuan per share and a price-to-earnings ratio of 25.51, focusing on dietary nutritional supplements and becoming a leading global supplier of HMB [3] - Shanda Electric Power, listed on the ChiNext with a stock code of 301609, had an issuance price of 14.66 yuan per share and a price-to-earnings ratio of 19.57, specializing in smart products for power systems and holding a leading position in the smart grid monitoring sector [3] Foreign Investment Trends - In the first half of the year, foreign investment in domestic stocks and funds increased by 10.1 billion USD, reversing a two-year trend of net reductions, with a notable increase of 18.8 billion USD in May and June [4] - The total amount of foreign-held domestic RMB bonds exceeded 600 billion USD, indicating a stable and sustainable growth potential for foreign investment in RMB assets [4] Industry Developments - Shanghai's Economic and Information Technology Commission released an action plan for the high-quality development of the next-generation display industry from 2026 to 2030, focusing on the production of smart glasses and the integration of AI+AR and AI+MR technologies [5] - The plan emphasizes the development of lightweight, low-power, high-resolution, and wide-field-of-view smart glasses, aiming to enhance product performance through innovation in key components [5]

Group 1 - The Ministry of Foreign Affairs emphasizes the importance of dialogue and cooperation between China and the US to stabilize and develop bilateral relations [2] - In the first half of the year, there was a net inflow of $127.3 billion in cross-border funds from non-bank sectors, continuing the trend from the second half of last year, with a 46% quarter-on-quarter increase in the second quarter [2] - By the end of the second quarter of 2025, the balance of RMB loans from financial institutions reached 268.56 trillion yuan, with a year-on-year growth of 7.1% [2] Group 2 - The Ministry of Human Resources and Social Security reported that by the end of June, the investment operation scale of the pension insurance fund reached 2.55 trillion yuan, with plans to expand the entrusted investment scale [3] - The Shanghai Stock Exchange and China Securities Index Co., Ltd. will launch the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise Index and the Shanghai Stock Exchange Science and Technology Innovation Board Private Enterprise 50 Strategy Index on July 23, 2025 [3] Group 3 - In July, 127 domestic online games were approved by the National Press and Publication Administration [4] - The Civil Aviation Administration of China held a mid-year work meeting, emphasizing the need to build a unified market in the civil aviation sector and address "involution" competition [4] - The National Intellectual Property Administration has drafted a guideline to promote the development of the private economy through intellectual property, encouraging various strategies for efficient transformation and utilization of intellectual property [4] Group 4 - The Shanghai Municipal Economic and Information Commission issued an action plan for the high-quality development of the next-generation display industry from 2026 to 2030, focusing on funding support and collaboration among enterprises, universities, and research institutions [5] - The China Football Association announced plans to form a national esports football team to participate in international competitions [5] Group 5 - The US State Department announced the withdrawal from UNESCO [6] - The State Administration for Market Regulation suspended the antitrust investigation against DuPont China Group [7] - The China Fusion Energy Company was established under the China National Nuclear Corporation [8] Group 6 - The Shanghai Stock Exchange issued a notice regarding *ST Yazhen, reminding investors to pay attention to risks [10] - Dongfang Electric, which has seen consecutive trading limits, stated that there are no significant adjustments in industry policies [11] - China Nuclear Power plans to invest 1 billion yuan in the fusion energy sector, indicating a forward-looking layout in this field [14]

重要的消息有哪些 1．外交部发言人郭嘉昆22日在例行记者会上就中美经贸相关问题答问时表示，在关税问题上，中方立 场是一贯和明确的。希望美方同中方一道，落实两国元首通话达成的重要共识，发挥中美经贸磋商机制 的作用，通过对话沟通，增进共识、减少误解、加强合作，推动中美关系稳定、健康、可持续发展。具 体情况请向主管部门询问。 2．国家外汇管理局副局长、新闻发言人李斌7月22日在国新办新闻发布会上表示，上半年，企业和居民 等非银行部门的跨境资金净流入1273亿美元，延续了去年下半年以来净流入态势，其中，二季度净流入 环比增长46%。分项看，上半年货物贸易项下净流入保持高位，外资整体净增持境内的股票和债券。 3．国家知识产权局起草了《知识产权促进民营经济发展实施办法（征求意见稿）》（以下简称《办 法》），现就《办法》向社会公开征求意见。意见稿提出，鼓励、支持民营经济组织采取符合自身特点 和发展需求的知识产权转化运用策略，采取自行实施、入股、转让、许可、质押等方式推动知识产权高 效转化运用。鼓励、支持民营经济组织探索建立专利池、专利开源等知识产权转化运用合作新模式，充 分利用开放许可方式实施专利，提升知识产权转化运用效益 ...

Group 1: Huike Co., Ltd. - Huike Co., Ltd. has entered the inquiry stage for its IPO as of July 11, with a fundraising target of 8.5 billion yuan, focusing on OLED and Oxide display technology upgrades and Mini-LED manufacturing projects [1][2] - The Mini-LED project in Mianyang aims to enhance the production line for high-performance Mini-LED products [1] Group 2: Huigu New Materials - Huigu New Materials has progressed to the inquiry stage for its IPO as of July 19, with a fundraising target of 900 million yuan for expanding production capacity and R&D projects [4][5] - The company holds over 60% market share in energy-saving coating materials for heat exchangers and over 30% in aluminum cap coatings, positioning itself as a key player in the domestic market [5] Group 3: Beteli - Beteli has also moved to the inquiry stage for its IPO as of July 6, with an expected fundraising amount of approximately 792.66 million yuan [6][7] - The funds will be allocated to various projects, including the production of special conductive materials and the establishment of a research and marketing center [7][8] Group 4: Chaoying Electronics - Chaoying Electronics' registration application has been officially accepted as of July 18, with a fundraising target of 660 million yuan for HDI projects and working capital [9] - The company specializes in printed circuit boards (PCBs) with applications in automotive electronics and display technologies, maintaining stable partnerships with major manufacturers like BOE and LG [9][10]

Group 1 - China aims to be a promoter of mutually beneficial global industrial and supply chains, emphasizing collaboration and openness [1] - The country is committed to ensuring the stability of global supply chains and contributing to world economic recovery [1] - China will focus on the digital, intelligent, and green transformation of global supply chains [1] Group 2 - The State Council is working on policies to strengthen domestic circulation as a strategic move for stable economic growth [2] - Key actions include boosting consumer spending, optimizing policies for consumption, and increasing investment in emerging sectors [2] - The government aims to enhance the internal dynamics of domestic circulation by addressing existing bottlenecks [2] Group 3 - The government is focusing on high-quality development in the new energy vehicle sector, addressing irrational competition [3] - Measures include cost investigations, price monitoring, and ensuring compliance with payment commitments by major manufacturers [3] - The goal is to establish a long-term mechanism for fair competition and promote innovation and quality improvement [3] Group 4 - China has made significant progress in establishing international standards for quantum dot light conversion films, marking a breakthrough in the nano-display field [4] - The implementation of these standards is expected to accelerate the large-scale production and application of quantum dot films [4] - This development is set to invigorate the trillion-yuan display industry [4] Group 5 - The People's Bank of China in Guangdong has introduced special funding measures to support innovation, consumption, and foreign trade [5] - The "Three 100 Billion" initiative has facilitated loans amounting to 92.9 billion yuan in key sectors [5] - This reflects a commitment to a moderately loose monetary policy to stimulate economic activity [5] Group 6 - Heilongjiang Province has introduced 21 measures to support the development of the ice and snow economy, aiming for high-quality growth [6] - The focus is on developing a modern ice and snow industry system, enhancing sports, culture, equipment, and tourism [6] - The policies are designed to leverage the effects of the Asian Winter Games and position the province as a leading destination for ice and snow tourism [6] Group 7 - There is a growing enthusiasm for foreign debt financing in China, with a significant increase in panda bond registrations [7] - In the first half of the year, panda bond registrations surged by 165%, with total issuance reaching 84.4 billion yuan [7] - This trend indicates strong interest from foreign entities in the Chinese market [7] Group 8 - Guangdong Province is prioritizing the development of embodied robotics and low-altitude economy as key industries [8] - The province aims to enhance traditional industries through digital and green technologies while fostering innovation in new sectors [8] - This strategic focus includes advancements in new energy vehicles and emerging technologies like AI and quantum science [8] Group 9 - Nvidia's CEO highlighted China's unique advantages in developing humanoid robots, citing strong AI capabilities and a robust manufacturing base [9] - The combination of advanced technology and manufacturing strength positions China favorably in the robotics sector [9] - This optimism reflects the potential for significant advancements in robotics technology within the country [9] Group 10 - Beijing's Economic Development Zone has launched funding support policies for 6G technology and industry innovation [10] - The initiative includes financial backing for enterprises involved in major 6G technology projects, with support up to 30 million yuan [10] - The measures aim to enhance competitiveness in core 6G technologies through targeted actions [10]

Core Viewpoint - Shanghai is committed to supporting the development of the electronic information industry, focusing on the growth of the smart glasses sector through strategic partnerships and technological advancements [1][2]. Group 1: Strategic Initiatives - A strategic cooperation agreement was signed for the production line project of Sunny Optical's 12-inch transparent substrate wafers for AR glasses, indicating a significant investment in the smart glasses industry [1]. - The Shanghai Municipal Economic and Information Commission emphasizes the importance of the electronic information industry, highlighting the establishment of a complete industrial chain in the region [1]. Group 2: Policy and Support Measures - Shanghai plans to strengthen policy guidance by developing a new action plan for smart terminals and displays, utilizing special funds to enhance support [3]. - The city aims to support technological breakthroughs in core display technologies such as lightweight, wide-field-of-view color waveguides and full-color Micro LED [3]. - Focus will be placed on key products in areas like AI PCs, AI smartphones, smart glasses, and robotics, promoting the development of Shanghai-branded terminal products [3]. - A multi-level talent plan will be implemented to stimulate innovation, ensuring that innovators have the necessary support [3].

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].

Core Viewpoint - The South Korean government plans to invest 484 billion KRW (approximately 25.16 billion RMB) in inorganic light-emitting diode (iLED) display technology by 2032 to seek new growth engines for the country's display industry [1] Group 1: Investment and Development Plans - The investment will focus on developing iLED technologies, including Micro LED, quantum dots, and nano LED, while fostering the South Korean industrial ecosystem [1] - The Korean Display Industry Association announced its full support for the R&D projects related to inorganic light-emitting displays and the ultra-differentiated R&D projects for organic light-emitting diodes (OLED) [1][2] - The project will cover various areas, including epitaxial growth technology, chip transfer and bonding technology, and the development of high-resolution devices for augmented reality (AR) and extended reality (XR) [1][2] Group 2: Market Growth and Competitive Landscape - The global iLED market is expected to grow from USD 1 billion in 2026 to USD 32 billion by 2035 [2] - Despite maintaining a leading position in the OLED market, South Korea is significantly lagging in iLED technology, heavily relying on foreign-manufactured LED chips and materials [1][2] - The Korean display industry is facing increasing competition from China, which has made significant advancements in the display sector, particularly in liquid crystal displays (LCD) and OLED technology [2] Group 3: Strategic Initiatives - The OLED ultra-differentiation R&D projects focus on mobile OLED display technology for extreme environments, silicon-based organic light-emitting diode (OLEDoS) technology for XR devices, and ultra-realistic light field display technology [2] - The Korean Display Industry Association aims to develop transformative technologies to maintain competitiveness against rivals like China, including ultra-thin high-reliability component structures and next-generation large-size flexible panels [2][3] - The launch of these R&D projects is seen as a crucial step to enhance core technological competitiveness and maintain sovereignty amid the unstable trade environment, particularly due to the US-China trade war [3]