（文章来源：证券日报） 证券日报网讯 12月15日，雷曼光电在互动平台回答投资者提问时表示，公司是LED行业唯一的中国航 天事业战略合作伙伴，公司始终秉承航天精神，以航天标准为品质准绳，致力于为航天事业及航天信息 化系统建设提供MicroLED超高清显示解决方案。 ...

Core Viewpoint - The company, Zhao Chi Co., Ltd. (002429), highlights significant synergies between its optical communication business and the LED industry chain, emphasizing cost efficiency and technological compatibility in its operations [1] Group 1: Business Synergies - The company can reuse existing capacity, as its 20-chamber MOCVD equipment can fully cover the production needs for Mini display chips, infrared chips, and optical chips, significantly lowering investment costs for laser chip production [1] - The manufacturing processes and epitaxial growth techniques for optical chips are highly compatible with the company's existing compound semiconductor technology, allowing for direct reuse of current MOCVD and lithography, etching, and other front-end equipment [1] - The company has effectively completed process migration and production line co-verification, establishing a preliminary vertical integration layout for optical chips, optical devices, and optical modules [1] Group 2: Future Growth Strategy - The company plans to start small-scale shipments of DFB chips and aims to continuously advance towards higher-speed optical chip technologies, leveraging its vertical integration advantages to create new revenue growth engines [1]

在深圳深港产学研基地成立之初，香港科技大学（下称"港科大"）教授李泽湘曾力邀学生到深圳创业， 但应者寥寥。彼时，多数毕业生首选赴美深造或入职硅谷、华尔街。 前者作为港科大毕业生，创办的超级独角兽大疆创新，目前估值高达840亿元；后者作为港科大知名教 授和"创业教父"，累计孵化了固高科技、大疆创新、李群自动化、希迪智驾、正浩创新等一批硬科技企 业。 这种教授提供技术、资源，学生担任CEO角色主导市场开拓的合作模式，在众多创业者身上持续得到验 证。 港科大博士肖国伟和导师陈正豪教授在2003年共同创办香港微晶先进光电，专注于LED芯片研发。2006 年8月，微晶先进光电完成倒装蓝光LED芯片研发并在广州南沙成立晶科电子。2024年11月，晶科电子 在港交所上市，曾创下科技类企业港股IPO募资额第一的纪录。 转折点出现在大疆创新崛起之后，"九成学生转而投身创业，因为大湾区的发展机遇已远超过海外"。从 大疆创新的消费级无人机帝国，到云洲智能的无人船艇、思谋科技的AI视觉技术，李泽湘感慨，这些 闪耀大湾区的硬科技明星企业，无不烙印着港科大校友圈子的协同基因，也是大湾区融合发展的生动例 证。 "港科大的创业力量，正在形成 ...

Group 1 - The core point of the article is that Sanan Optoelectronics has announced a significant pledge of shares by its subsidiary, Xiamen Sanan Electronics, which holds approximately 1.214 billion shares, accounting for 24.33% of the total share capital [1] - After the partial pledge, Xiamen Sanan Electronics has pledged about 696 million shares, representing 57.38% of its holdings [1] - Together with its controlling shareholder, Fujian Sanan Group, they hold approximately 1.47 billion shares, which is 29.47% of the total share capital [1] Group 2 - The total pledged shares by both Xiamen Sanan Electronics and Fujian Sanan Group amount to approximately 825 million shares, which is 56.08% of their combined holdings [1] - For the fiscal year 2024, the revenue composition of Sanan Optoelectronics is projected to be 71.39% from LED and 28.61% from other businesses [1] - As of the report, the market capitalization of Sanan Optoelectronics is 68.2 billion yuan [2]

Core Viewpoint - Sanan Optoelectronics plans to jointly acquire 100% equity of Lumileds Holding B.V. with Inari Amertron Berhad for approximately $239 million, marking a significant step in its internationalization strategy [1][3] Group 1: Acquisition Details - The acquisition has passed antitrust reviews in China and Turkey, as well as foreign direct investment reviews in Italy, indicating regulatory progress [1] - Lumileds Holding B.V. is a global provider of LED solutions, with products used in automotive lighting, general lighting, and display backlighting [3] Group 2: Strategic Implications - The joint acquisition aims to create synergies in the LED industry chain and international market channels, enhancing the company's global layout capabilities in the compound semiconductor business [3] - This move is seen as a crucial step for the company to expand its overseas high-end customer base and application areas amid growing global demand for high-end lighting and automotive LEDs [3] Group 3: Future Considerations - The company acknowledges that the cross-border acquisition still requires compliance with regulatory procedures in certain countries and regions, and there is uncertainty regarding the completion of the transaction and its timeline [3]

Core Viewpoint - Leyard (300296.SZ) emphasizes that Micro LED is a strategic product for the company, targeting broader application markets and is a key focus of its R&D efforts [1] Group 1: Financial Performance - The company has achieved a doubling of revenue from Micro LED over the past two years [1] - As of the half-year mark, new orders for Micro LED have exceeded 600 million yuan, representing a year-on-year growth of over 40% [1]

Group 1 - The core viewpoint of the article is that Liard (SZ 300296) will hold an investor meeting on December 10, 2025, where the company's board secretary and vice president will address investor inquiries [1] - For the first half of 2025, Liard's revenue composition is entirely from the LED industry, accounting for 100.0% [1] - As of the report date, Liard's market capitalization stands at 17.2 billion yuan [1]

Group 1 - The core point of the article is that Sanan Optoelectronics (SH 600703) announced the convening of its 24th meeting of the 11th Board of Directors on December 10, 2025, to discuss the proposal for the second extraordinary shareholders' meeting of 2025 [1] - For the year 2024, Sanan Optoelectronics reported that its revenue composition is 71.39% from LED products and 28.61% from other businesses [1] - As of the report date, the market capitalization of Sanan Optoelectronics is 69.3 billion yuan [1]

Group 1 - The market is expected to maintain a high risk appetite due to policy expectations from the "14th Five-Year Plan," with technology growth likely to continue outperforming in Q4 [1] - The main sectors attracting net inflows include PCB, LED, OLED, photovoltaic, and charging piles, indicating strong investor interest in these areas [1] - The domestic embodied intelligence sector has surpassed a total market value of 3 trillion yuan, with significant growth potential as capital accelerates for domestic new forces [3] Group 2 - The dairy market is stabilizing post-holidays, with milk prices entering a bottoming phase, while deep processing and overseas markets show rapid growth potential [5] - The price of beef cattle is expected to experience upward pressure due to a projected decline in supply by over 10% since 2024, indicating a potential price rebound [5] - The global investment community is regaining confidence in AI, with storage chips being favored as a critical material, leading to anticipated price increases that may last until mid-next year [5] Group 3 - The A-share market is expected to enter a "structural market second half" focused on high-quality development, with long-term funds likely to concentrate on industries with strategic support value [9] - The ability of the ChiNext index to stabilize above 3200 points will be crucial for determining whether new highs can be achieved by year-end, with ongoing positive sentiment in technology stocks [9] - Investors are advised to maintain a medium to high position structure, focusing on advanced manufacturing, technology hardware, green energy, and digital economy sectors driven by policy [9]

Core Viewpoint - The company has established a strong reputation and trust among a diverse range of well-known domestic and international brand clients across multiple industries, including consumer electronics, communications, LED, and new energy vehicles, which supports its stable growth and performance [1] Industry and Client Distribution - The company has a broad client base that includes leading enterprises in various sectors: - Communications: ZTE Corporation, TCL Communication - Display and Lighting: TPV Technology, Absen, Leyard - Home Appliances: Gree Electric Appliances, Haier Group, Hisense Group - Photovoltaics: Tongwei Co., Longi Green Energy - Automotive Electronics: BYD, CRRC Times Electric - Consumer Electronics: DJI, Samsung, Xiaomi - Power Supply: Bull Group, Aohai Technology - Security: Hikvision, Mijia Technology - Additionally, the company indirectly serves international brands like HP, Dell, and Amazon through large EMS manufacturers such as Foxconn and Jabil [1] Business Characteristics - The company exhibits a "small products, large market" core business characteristic, which effectively mitigates operational risks associated with single industry cycle fluctuations and allows the company to capture growth opportunities across multiple high-demand sectors, thereby providing solid support for sustained and stable performance [1]