Group 1: Financial Performance - The company achieved operating revenue of 366,261.65 million yuan in 2024, a decrease of 8.58% compared to 2023 [1] - The gross profit margin was 27.48%, down 1.53% year-on-year [2] - Revenue from the Chinese market fell by 48.84% to 73,173.51 million yuan compared to 2023 [2] - The net cash flow from operating activities was 152,720,937.58 yuan, indicating a stable cash flow situation [4] Group 2: Strategic Initiatives - The company focuses on technology leadership and high-quality LED display products to attract premium customers and expand its business scale [3] - Key competitive advantages include maintaining technological leadership, enhancing brand influence, and optimizing service and cost structures [3] - The company has been recognized as a "National Manufacturing Single Champion," reflecting its commitment to product development and market demand [2] Group 3: Market Outlook - The global LED display market is projected to reach approximately 53.5 billion yuan in 2024, continuing a steady growth trend [5] - The actual production and sales volume of displays are expected to maintain a double-digit growth rate, with an anticipated market growth rate of around 8% in the coming years [6] - The company has successfully increased its overseas revenue, achieving a compound annual growth rate (CAGR) of 43% over the past three years [6] Group 4: Impact of External Factors - Sales revenue from products exported to the U.S. accounted for about 15% of the company's total annual sales, with expectations of stability or slight decline [3] - The company plans to mitigate the impact of U.S. tariffs through price adjustments and enhanced production efficiency [4]

Group 1: Company Overview and Activities - The company is Shenzhen Lehman Optoelectronics Technology Co., Ltd., with stock code 300162 and abbreviation 雷曼光电 [1] - The investor relations activity took place on March 25, 2025, from 15:00 to 17:00 at the company's headquarters [2] - Participants included representatives from various investment firms such as 招商证券 and 丰坤资本 [2] Group 2: COB Technology Development - COB small-pitch product sales are expected to grow nearly 150% year-on-year in 2024, becoming the fastest-growing product in the commercial display market [3] - By 2028, global COB market share in small and micro-pitch segments is projected to reach nearly 45%, with terminal sales exceeding 30 billion yuan [3] - The company has over 20 years of experience in LED display R&D and manufacturing, focusing on advanced technologies to enhance product competitiveness [3] Group 3: Cost Reduction and Market Expansion - The company aims to reduce costs through innovations such as chip miniaturization and integration of driving ICs [4] - Production efficiency will be improved by upgrading equipment and adopting laser technology in various manufacturing processes [4] - The company is working to penetrate the consumer market with Micro LED products while addressing cost challenges [4] Group 4: MIP Technology and Future Prospects - The company has been researching Micro-level MIP technology since 2021 and has achieved small-scale trial production [5] - MIP technology is seen as a promising development following COB technology, with the company pursuing multiple technological routes [5] Group 5: Home Market Challenges - The home market demands high reliability for Micro LED products, which are currently priced above 100,000 yuan [6] - Cost optimization is essential for competing with OLED and QD-LCD alternatives, while leveraging LED's advantages in size and splicing [6] Group 6: Market Outlook for Small-Pitch LED Displays - The market for LED displays below P2.5 is expected to reach $7.389 billion by 2027, with a compound annual growth rate (CAGR) of 12% [7] - Displays below P1.0 are projected to reach $1.145 billion by 2027, with a CAGR of 34% [7]