Core Viewpoint - TCL Technology is advancing in the next-generation display technology with its printed OLED, which is a significant part of its strategic layout [1] Group 1: Company Developments - TCL Technology announced that its subsidiary, TCL Huaxing, has achieved small-scale production of 21-inch medical products using its 5.5-generation line (t12) by the end of 2024 [1] - TCL Huaxing is currently the only manufacturer globally to achieve mass production of printed OLED technology [1] - The company is collaborating with brand clients to develop medium-sized products such as laptops and monitors, with positive feedback leading to an expansion of t12 production capacity from 3K units per month to 9K units per month [1] Group 2: Technology and Market Position - Printed OLED technology offers significant advantages in investment costs, yield rates, and material utilization, which supports the increased penetration of OLED in IT products due to product lightweighting [1] - The company has a comprehensive patent layout in the printed OLED field and maintains a leading position in technology [1] - Despite the differences in processes and core material systems between printed OLED and existing traditional technologies, the company is committed to advancing the industrialization of printed OLED and is confident in achieving significant breakthroughs [1]

Core Viewpoint - The research from the University of St Andrews indicates that the combination of holographic metasurfaces (HMs) and organic light-emitting diodes (OLEDs) could revolutionize the smart devices, communication, gaming, and entertainment industries by overcoming key challenges in holographic technology [1][2]. Group 1: Technology Overview - The study published in "Light: Science & Applications" presents a novel optoelectronic device that integrates holographic metasurfaces with OLEDs, simplifying the manufacturing process, reducing device size, and potentially lowering costs, thus facilitating broader application [1][2]. - OLEDs, widely used in mobile screens and some televisions, are thin-film devices that serve as planar light sources, showing promise in emerging fields like optical wireless communication and biosensing due to their high compatibility with other technologies [2]. - Holographic metasurfaces consist of "super-atoms" arranged in a thin planar array, each about one-thousandth the diameter of a human hair, designed to manipulate light properties for applications in data storage, anti-counterfeiting, optical displays, high numerical aperture lenses, and sensing [2]. Group 2: Research Breakthrough - This research marks the first instance of combining these two technologies to create foundational components for holographic displays, allowing for precise design of each "super-atom" to control light beam characteristics, effectively functioning as a pixel [4]. - The interference principle of light enables the creation of complex patterns, allowing pre-designed images to be displayed on the opposite side of the metasurface [4]. - The integration of OLED with metasurfaces opens new avenues for holography and light manipulation, potentially leading to significant advancements in virtual reality and augmented reality applications [4]. Group 3: Implications for Display Technology - Traditional OLED displays require thousands of pixels to render simple images, whereas this new method can project complete images using just one OLED pixel, enhancing the feasibility of compact, high-integration metasurface displays [4].

Core Viewpoint - The PH2 project by Zhuhai BOE Crystal Core Technology Co., Ltd. aims to expand MLED COB packaging capacity, enhancing the company's manufacturing capabilities and market responsiveness in the high-end MLED display sector [2]. Summary by Sections Project Overview - The PH2 project has successfully moved its core processing equipment into the factory as of August 30 [1]. - The project is set to enter the equipment installation and debugging phase following the equipment's arrival [2]. Company Development - Zhuhai BOE Crystal Core Technology Co., Ltd. was officially registered in June 2024, with the project commencing construction in September 2024 [2]. - The project completed equipment relocation and began factory operations in December 2024 [2]. Production and Capacity - The COB products from the Zhuhai Crystal Core project were successfully lit up in January 2025, indicating readiness for larger-scale LED display production [2]. - The project has a total investment of approximately 1 billion yuan, with a factory area exceeding 40,000 square meters [2]. - The planned monthly production capacity for COB is expected to exceed 10,000 square meters, with over 95% automation throughout the production line [2].

Core Viewpoint - The article highlights the breakthrough of TCL Huaxing in the field of printed OLED technology, marking a significant shift in China's display industry from a follower to a leader on the global stage [3][5]. Group 1: Printed OLED Technology - TCL Huaxing has developed a full range of printed OLED products, covering sizes from 6.5 inches to 65 inches, and has achieved the highest number of patents in the printed OLED technology field globally [3][5]. - The company officially announced the mass production of printed OLED technology in 2024, positioning itself as the only manufacturer in the world to achieve this milestone [3][5]. - Printed OLED technology embodies the brand philosophy of APEX, focusing on providing a better display experience, trusted visual health, sustainable green production, and limitless future possibilities [3]. Group 2: Product Advantages - Printed OLED offers a consistent display experience across multiple screens, ensuring uniform color and quality [7]. - Compared to existing OLED products priced in the thousands to tens of thousands, printed OLED utilizes Real RGB arrangement to eliminate color fringing and provides a stable, wide color gamut even in low brightness modes [8]. - The technology incorporates a low blue light solution that effectively reduces harmful blue light exposure, enhancing eye comfort [8]. Group 3: Production Advantages - Printed OLED simplifies the production process compared to traditional vapor-deposited OLED, leading to reduced production costs and making high-quality displays more accessible [10]. - The technology achieves a 90% material utilization rate, significantly lowering production costs and promoting eco-friendly practices [10]. - By requiring less stringent vacuum conditions and utilizing low-temperature drying, printed OLED can save 300 to 400 million kilowatt-hours of electricity annually, enough to power a medium-sized city for 30 to 60 days [10]. Group 4: Industry Impact - The introduction of printed OLED is seen as a milestone for the global display industry, with TCL Huaxing defining a new technological route [11]. - The company aims to bridge the gap between consumers and cutting-edge display technology, enhancing public understanding of the development and benefits of high-quality displays [13].

Core Viewpoint - NIO has launched the new ES8 model with a price range of 308,800 to 456,800 yuan, showcasing advanced display technology in its interior [1]. Group 1: Product Features - The ES8 features a 1.4-meter long SKYLine dual 24-inch digital skyline screen, utilizing Longli Technology's latest Mini LED backlight technology, with 1610 zones, 5K resolution, 1200 nits brightness, a contrast ratio of 1,000,000:1, and 10-bit color depth, achieving 100% DCI-P3 color gamut coverage [2]. - Additionally, the ES8 is equipped with a 21.4-inch large entertainment ceiling screen, also using Longli Technology's Mini LED backlight technology, featuring 1914 zones, 3K resolution, 1000 nits brightness, a contrast ratio of 1,000,000:1, and 100% DCI-P3 color gamut coverage [5]. Group 2: Industry Context - Longli Technology specializes in overall backlight display module solutions, with core businesses in consumer electronics and rapidly growing automotive display sectors. The company reported a revenue of 710 million yuan in the first half of the year, marking a 14.46% year-on-year increase, driven by the growth in automotive display sales [8].

Core Viewpoint - Lenovo has launched the ThinkVision P series commercial monitors, featuring BOE's exclusive Oxide technology, which offers low power consumption, dynamic refresh rates, high color gamut, high contrast, and eye-care benefits [1][2]. Group 1: Product Features - The ThinkVision P series utilizes BOE's Oxide technology to achieve a 24-120Hz adaptive refresh rate, significantly reducing power consumption by over 50% at a low refresh rate of 24Hz [2]. - The monitors provide 98% DCI-P3 color gamut coverage and a high contrast ratio of 2000:1, ensuring superior image quality [2]. - The series incorporates LDFM technology and has received Eye Comfort five-star certification, effectively eliminating screen flicker and significantly filtering blue light damage [2]. Group 2: Manufacturing and Supply Chain - The panels for the ThinkVision P series are produced at BOE's first 8.5-generation all-metal oxide TFT-LCD production line in Nanjing, which has a monthly capacity of 60,000 glass substrates sized 2500mm x 2200mm [2]. - BOE acquired an 80.831% stake in the Nanjing Zhongdian Panda Flat Panel Display Technology Co., Ltd. for 5.591 billion yuan in 2020, integrating this production line into its operations [2]. - BOE has supplied over 50 million high-end display panels to Lenovo, marking a new phase in their collaboration on display technology innovation and sustainable development [3].

Core Viewpoint - Tianma Microelectronics Co., Ltd. reported a significant recovery in its financial performance for the first half of 2025, with a net profit attributable to shareholders increasing by 142% year-on-year, marking a turnaround from losses in the previous period [4]. Financial Performance - The company's operating revenue reached approximately 17.48 billion yuan, representing a 9.93% increase compared to the same period last year [1]. - The net profit attributable to shareholders was approximately 205.90 million yuan, a substantial recovery from a loss of about 489.39 million yuan in the previous year [1]. - The net profit after deducting non-recurring gains and losses was approximately 787.26 million yuan, compared to a loss of about 1.04 billion yuan in the same period last year [1]. - The net cash flow from operating activities increased by 48.44% to approximately 3.97 billion yuan [1]. Asset and Equity Status - Total assets at the end of the reporting period were approximately 77.62 billion yuan, down 4.45% from the previous year [2]. - The net assets attributable to shareholders were approximately 27.51 billion yuan, a slight increase of 0.95% from the previous year [2]. Market and Industry Trends - The global small and medium-sized display market showed signs of recovery, driven by demand in key application markets such as smartphones, automotive displays, and IT products [4]. - The penetration rate of OLED in smartphones continued to rise, and the demand for high-end automotive displays increased due to trends like multi-screen and large-screen setups [4]. - The company maintained a leading position in the automotive display sector, with a significant increase in shipments of LTPS automotive display products, which grew over 76% year-on-year [8]. Technological Innovations - The company launched several innovative products, including the world's first integrated fingerprint recognition and color temperature sensing AMOLED display, which won the "Best OLED-Based Technology" award at SID 2025 [5]. - In the automotive display sector, the company introduced a 12.3-inch hidden display and a light field 3D AR-HUD, both of which received accolades for their advanced technology [5]. Operational Efficiency - The company implemented cost management strategies that resulted in a reduction of the cost-to-income ratio by approximately 5.4 percentage points, contributing to improved profitability [10]. - The company is actively pursuing digital transformation and smart manufacturing initiatives to enhance operational efficiency and management capabilities [10]. Social Responsibility - The company has committed to sustainable development and carbon neutrality, launching a carbon management action plan and receiving multiple awards for its ESG practices [10].

Core Viewpoint - The article discusses the transformative impact of generative AI and spatial computing on various industries since 2024, highlighting the central role of display technology in this evolution and the opportunities and challenges it faces [2]. Group 1: Display Technology Evolution - The display industry is experiencing significant internal evolution, with major technology routes competing and seeking new development points [2]. - Micro LED technology is gaining clarity in its development path, with accelerated industrialization and potential applications in large displays, high-end automotive, and wearable devices [2]. - Mini LED has successfully transitioned from a "technology pioneer" to a "market leader," competing effectively with OLED in high-end TVs and monitors, and expanding its applications in smaller pitch markets [3]. - OLED maintains its dominance in flagship smartphones due to its advantages in flexibility, thinness, and color performance, while also addressing its limitations in brightness and lifespan for mid-size applications [3]. Group 2: Market Opportunities and Challenges - The global display industry is at a crossroads of opportunities and challenges, driven by new applications and scenarios enabled by AI, but also facing uncertainties in the macroeconomic environment and technological bottlenecks [4]. - The industry requires a strategic direction to navigate the evolving landscape, particularly in emerging markets such as gaming displays, automotive displays, AI PCs, and AI glasses [4].

Group 1 - The company, LianYade (300296), is focusing on MicroLED technology primarily for large screen displays and is gradually expanding into small screen applications [1] - The company is currently collaborating with partners to develop AR glasses based on MicroLED optical technology [1]

Core Viewpoint - TCL Huaxing is accelerating its development in the printed OLED field by expanding its product matrix and application scenarios, recently establishing a new company focused on printed display technology in Guangzhou [1][2]. Group 1: Company Developments - Guangzhou Huaxing Optoelectronics Printed Display Technology Co., Ltd. was established on August 11 with a registered capital of 1 billion RMB, fully owned by TCL Huaxing [2]. - The establishment of the new company is interpreted as a preparatory step for the rumored construction of an 8.6-generation printed OLED production line in Guangzhou, with an estimated investment of around 20 billion RMB [2]. Group 2: Production Capacity and Technology - TCL Huaxing plans to build two OLED production lines at the Guangzhou T8 factory, potentially making it one of the largest and highest-capacity printed OLED production lines globally, with a planned capacity of 45,000 glass substrates per month [2][3]. - Compared to competitors like Samsung Display and BOE, TCL Huaxing's production capacity could surpass their existing plans, which are currently lower [3]. Group 3: Advantages of Printed OLED Technology - Printed OLED technology features simplified processes and higher material utilization, reducing material waste by 30% and overall costs by 20% compared to traditional FMM processes [6]. - The technology also boasts higher aperture ratios and longer product lifespans, with TCL Huaxing showcasing various printed OLED products at ChinaJoy 2025, demonstrating superior display performance [6]. Group 4: Future Outlook - By the end of 2024, TCL Huaxing aims to achieve mass production of printed OLED technology in medical devices and is accelerating penetration into IT fields, such as gaming displays [7]. - The future progress of the Guangzhou T8 project and its potential for large-scale production will be a key indicator of the evolution of the global OLED industry landscape [7].