Core Viewpoint - BOE (京东方) celebrates its five-year anniversary of the "Hello BOE" brand IP exhibition, showcasing over a hundred innovative technologies and products in collaboration with more than 20 partners, emphasizing the integration of display technology and future living [1] Group 1: Event Overview - The event features six immersive experience areas, highlighting BOE's leading technology brands and sustainable development achievements, along with a collaboration with Dunhuang Academy to demonstrate digital technology empowering traditional art [1][2] - BOE's Vice President and Chief Brand Officer stated that screens serve as the key to interconnectivity, bridging the digital world and real life, and the company aims to continue its "Screen IoT" development strategy [1] Group 2: Technology Showcase - The "Screen Powerhouse" area displays BOE's ADS Pro, f-OLED, and α-MLED technology brands, including an 85-inch UB Cell TV and various high-end flexible display products, showcasing advantages like ultra-smooth display and low power consumption [2] - The "Sustainable Good Screen" area focuses on BOE's first sustainable development brand "ONE," demonstrating the company's commitment to long-termism and sustainable practices across its operations and product lifecycle [2] Group 3: Cultural and Artistic Integration - The "Screen Dialogue" area showcases BOE's innovative technologies applied in cultural and artistic fields, including collaborations with cultural institutions to promote the digital transformation of the arts [3] - BOE's technologies, such as 8K ultra-high-definition solutions and naked-eye 3D displays, are used to bring traditional art, like Dunhuang murals, to a wider audience [3]

Core Points - The company, Everdisplay Optronics (Shanghai) Co., Ltd., was established through the overall change of its predecessor, Shanghai Hehui Optoelectronics Co., Ltd., and inherits all rights and obligations from the original company [3][7] - The company is registered with the Shanghai Municipal Market Supervision Administration and has obtained a business license [2] - The company focuses on AMOLED display technology, aiming to maximize shareholder value and social value through innovation and independent research and development [14] Chapter Summaries Chapter 1: General Provisions - The company is established in accordance with the Company Law and other relevant regulations, and it is a permanent joint-stock company [3][4] - The company has a registered capital of RMB【】 and is subject to the laws and regulations of the People's Republic of China and the Hong Kong Stock Exchange [3][6] Chapter 2: Business Objectives and Scope - The company's business scope includes system integration, production, design, and sales of displays and modules, as well as related technical development and consulting services [15] - The company aims to provide a more realistic, vibrant, and healthy display experience for all users [14] Chapter 3: Shares - The company issues shares based on principles of openness, fairness, and justice, ensuring equal rights for each share of the same category [17] - The company has issued a total of 10,500,000,000 shares, with specific proportions held by founding investors [20][7] Chapter 4: Shareholders and Shareholders' Meeting - Shareholders have rights to dividends, participate in meetings, and supervise the company's operations [35] - The company must ensure that shareholders' rights are protected and that they are treated fairly [13] Chapter 5: Shareholders' Meeting Procedures - The company must hold annual and temporary shareholders' meetings, with specific procedures for notification and voting [49][51] - Shareholders holding more than 10% of shares can request a temporary meeting [55] Chapter 6: Proposals and Notifications for Shareholders' Meetings - Proposals must be within the scope of the shareholders' meeting authority and comply with legal requirements [59] - The company must provide complete information for shareholders to make informed decisions [29]

Core Insights - The DIC EXPO in Shanghai showcased the integration of display technology and AI, featuring over 500 leading companies and professionals from more than 40 countries [1] - Huike Co., Ltd. stood out at the event, winning multiple awards including the Gold and Silver Awards for Display Application Innovation and the Gold Award for Display Device Innovation, highlighting its leadership in industry innovation [1] - The company introduced several groundbreaking technologies, including the UltraClear Motion 1000+ technology and a 27-inch QHD a-Si LCD panel, achieving a native refresh rate of 300Hz and 2ms MPRT response time [1][2] Display Device Innovations - Huike launched the world's first 85 and 100-inch 360Hz LCD displays, enhancing dynamic clarity by 50% and certified by AMD FreeSync Premium Pro for full-range VRR synchronization [2] - The company also presented a 23.8-inch high-contrast FHD LCD display that breaks the cost barrier for high contrast technology, offering a cost-effective solution for consumers [2] - The UltraWide QuantumCurve XR series features a unique design for gaming, with HSR 480Hz rapid engine and full-range VRR synchronization to eliminate screen tearing [2] Future Outlook - Huike aims to continue enriching human visual experiences through deep technological accumulation and ongoing innovation, collaborating with industry partners to expand the boundaries of display technology [3]

Market Overview - The market indices showed a slight decline, with the Shanghai Composite Index closing at 3635.13, down 0.12% [1] - The ChiNext Index fell by 0.38%, closing at 2333.96, while the STAR Market 50 Index decreased by 1.39% to 1043.54 [1][8] - The overall market sentiment indicates a high-level fluctuation, with a focus on the "dumbbell strategy" and anti-involution direction [7][9] Industry Dynamics - Tesla has disbanded its Dojo team and is seeking external partnerships, which may increase demand for NVIDIA and AMD in the domestic supply chain [25][26] - Sany Group has been fined 1.97 billion RMB by Indonesia for violating competition laws, which they plan to contest legally [26][28] - In July 2025, China's excavator sales increased by 25.2% year-on-year, with domestic sales up 17.2% and exports up 31.9% [30] Company Updates - Sanxin Medical (300453.SZ) reported a net profit of 115 million RMB for H1 2025, a year-on-year increase of 8.35%, driven by its full product chain in blood dialysis equipment [35][36] - Ganli Pharmaceutical (603087.SH) completed the first dosing of its GZR102 injection in a Phase II clinical trial, which combines insulin and GLP-1RA for diabetes treatment [37][38] - Xianhui Technology (688155.SH) signed a sales contract worth 702 million RMB with CATL, benefiting from the rapid growth of the electric vehicle market [40][41] - SPDB (600000.SH) reported a net profit of 29.737 billion RMB for H1 2025, a 10.19% increase year-on-year, with total assets reaching 96.458 trillion RMB [42][43] - Vogt Optoelectronics (603773.SH) won two awards at the DIC 2025 International Display Technology Innovation Awards, highlighting its advancements in new display technologies [44][46] - Feiwo Technology (301232.SZ) achieved a revenue of 1.165 billion RMB in H1 2025, a significant increase of 81.42% year-on-year, driven by the booming wind power sector [47][49]

Core Viewpoint - BOE Technology Group Co., Ltd. has filed an international patent application for a "Sound Production Film Layer, Display Module, and Display Apparatus," indicating a focus on innovation in display technology [1][2]. Patent Details - The international application number is PCT/CN2024/074861, with a publication date set for August 7, 2025 [1][2]. - The patent falls under the international patent classification H04R 7/06, which relates to sound production technologies [2]. - The invention includes a sound production film layer that consists of a fixed layer, a vibration layer, and multiple support structures designed to enhance sound production while minimizing operational issues such as attachment [2]. R&D Investment and Patent Activity - In 2024, BOE has reported a total of 751 international patent applications, reflecting a 26.01% increase compared to the same period last year [1][2]. - The company invested 13.123 billion yuan in research and development in 2024, marking a year-on-year increase of 15.94% [1][2].

Core Viewpoint - Tokyo Science Research Institute has developed the world's lowest operating voltage white OLED device, which operates at 1.5V [1]. Group 1: Research and Development - The research team, led by Professor Seiichiro Izawa, previously focused on low-voltage blue OLED devices using triplet-triplet annihilation (TTA) for blue light emission [2]. - The new OLED devices, named up-conversion OLED or UC OLED, incorporate a sky-blue dopant (polyvinyl dopant, Tbpe) and a yellow dopant (red fluorescent), which together produce white light [2]. - Despite the low operating voltage, the OLED devices currently face challenges related to efficiency and color stability, with ongoing efforts to improve performance [2].

Core Insights - The Chinese market is identified as the most strategically significant core market for the company, contributing over 50% of global display panel shipments and over 70% of global LCD shipments [1][4] - The company showcased innovations in display materials, optical technology, and measurement solutions for high-tech microchips at the DIC EXPO 2025 [3][4] Company Overview - Merck Electronics is a core business of the Merck Group, providing a wide range of products and solutions based on material innovation, with net sales of €21.2 billion in 2024, of which €3.8 billion came from the electronics sector [4] - The company emphasizes the ongoing potential of LCD technology despite its current market dominance, showcasing innovations that enhance contrast ratios significantly [4][6] Industry Trends - The display industry is experiencing a wave of multidimensional innovation, with advancements in LCD, OLED, automotive displays, and AR shaping future trends [3][5] - The rise of AI is deeply integrated into manufacturing processes, enhancing production efficiency and yield, with the company being among the first to apply large language models in enterprise processes [5][6] - The industry is shifting focus from scale manufacturing to performance enhancement, quality optimization, and sustainable technology development [6]

8月7日晚，成都世运会将在天府国际会议中心开幕。开幕式上，面积约1.1万平方米、全球最长连续 LED巨幕将呈现令人震撼的视觉画卷，而这块担纲开幕式核心视觉呈现的巨型大屏，正是由成都高新区 科技领军企业的显示技术支撑。 "天府大屋檐"将定制独有的LED显示单元，与天府之檐的中式瓦面结构完美结合，并在设计、产品、内 容、模式、管理等方面均实现了突破式创新。设计上最大程度保留了"天府之檐"瓦面的建筑原貌；通过 技术导入，整屏具有超强的防护性，可应对各种恶劣的天气；其显示的超高亮性，解决了大视角偏色的 问题；超智能感光、超智能色彩调节等特点，也能让天府之檐适应各种复杂多变的室外环境，在强光环 境下使其仍能保持出色的视觉效果。 据悉，自2024年除夕首次亮灯以来，"天府大屋檐"在奥运赛事转播、跨年派对、节日灯光秀等场景中广 泛应用。 作为此次世运会开幕式的"视觉担当"，成都天府国际会议中心的户外数字化显示屏总长408.5米，宽26.7 米，融合了超4万米的定制LED显示单元，可视距离达到了6公里。这块巨长的显示屏安装在天府国际会 议中心的前厅木结构檐廊上，该檐廊是亚洲最大单体木结构建筑，名叫"天府之檐"，这块屏也因此得 ...

Core Viewpoint - Qingyue Technology received a warning letter from the Jiangsu Securities Regulatory Bureau due to multiple regulatory violations related to fundraising and financial reporting practices [1][2][3] Group 1: Regulatory Violations - The company misused raised funds by transferring them to a general settlement account to purchase bank wealth management products in 2023 [2] - The financial accounting for the CTP+OLED product trading business was not compliant, as the company reported revenue using the gross method instead of the net method, leading to a correction of 13.67 million yuan in the third quarter report of 2023 [2][3] - An undisclosed related party transaction occurred with Zaozhuang Hongyuan Construction Engineering Company, controlled by a close relative of the company's actual controller, involving a payment of 3.63 million yuan for engineering contracts [2][3] Group 2: Consequences and Company Background - The violations led to a warning letter being issued to Qingyue Technology, its chairman Gao Yudi, and secretary Zhang Xiaobo, which will be recorded in the securities market integrity archive [3] - Qingyue Technology went public on the Shanghai Stock Exchange's Sci-Tech Innovation Board on December 28, 2022, raising a total of 824.4 million yuan, with a net amount of 734.95 million yuan after expenses [3][4] - The company has reported losses for two consecutive years, with net profits of -118 million yuan, -69.49 million yuan, and -15.99 million yuan for the first quarters of 2023, 2024, and 2025, respectively [4]

Core Viewpoint - The article emphasizes the significant growth and investment opportunities in the XR (Extended Reality) sector, particularly focusing on AI smart glasses and Micro-LED technology, which are expected to revolutionize the display industry and human-computer interaction [3][5][46]. Investment Focus - The company has invested over 13 billion in technology innovation, with a portfolio that includes 240 listed companies and over 2,500 global new economy enterprises, focusing on sectors like technology, AI, healthcare, and industrial internet [1]. - The investment strategy is characterized by early, robust, and ecosystem-focused investments, particularly in the XR sector, which is poised for explosive growth due to policy incentives and technological advancements [5]. Market Trends - In Q1 2025, global AI smart glasses sales reached 600,000 units, marking a 216% year-on-year increase, primarily driven by the success of Ray-Ban Meta smart glasses [3][4]. - The market penetration of smart glasses is approaching maturity, with a significant increase in sales and interest from major tech companies, indicating a shift from niche to mainstream [4][5]. Display Technology Evolution - The display technology has evolved through several phases: from CRT to LCD, then OLED, and now to Micro-LED, which is seen as the ultimate display technology due to its high brightness, low power consumption, and long lifespan [9][10][12]. - The global display market is projected to grow by 5.4% in 2024, reaching $122.8 billion, highlighting the industry's robust growth trajectory [9]. Micro-LED Technology - Micro-LED technology is expected to dominate the AR/VR market due to its superior performance in brightness, contrast, and energy efficiency compared to other display technologies [23][25]. - The company has strategically invested in the Micro-LED supply chain, including chip manufacturers and optical device companies, to capitalize on the anticipated growth in AR/VR applications [27][46]. AR/VR Device Development - The article discusses the evolution of hardware from PCs to mobile devices and now to smart wearables, with AR and VR devices expanding the interaction dimensions and providing immersive experiences [14][16]. - The integration of AI into smart glasses is becoming standard, with expectations that the price of these devices will drop below 3,000 yuan, potentially increasing market penetration beyond 20% [45][46]. Policy Impact on VR Cinema - Recent policy developments in China have recognized VR films as a legitimate sector, paving the way for standardized production and distribution, which is expected to drive growth in the VR cinema market [41][42]. - The VR large space solution market is projected to exceed $12 billion by 2025, with China’s market share expected to grow significantly, indicating a strong future for VR applications [42][43]. Company Positioning - The company has established a comprehensive investment matrix across the XR industry chain, focusing on key players in Micro-LED technology and AR/VR device manufacturing, positioning itself as a leader in the upcoming technological revolution [46].