Financial Data and Key Metrics Changes - In Q1 2025, revenue was $166 million, operating profit was $70 million, and net income was $64 million or $1.35 per diluted share, showing a year-over-year increase in net income of over 13% from $57 million or $1.19 per diluted share in Q1 2024 [5][14] - Total material sales were $86 million in Q1 2025, down from $93 million in Q1 2024, while royalty and license fees increased to $74 million from $68 million in the prior year [11][12] - Operating income increased to $70 million with an operating margin of 42%, compared to $63 million and 38% in the prior year [13] Business Line Data and Key Metrics Changes - Green emitter sales were $64 million in Q1 2025, down from $71 million in Q1 2024, while red emitter sales remained at $21 million [11][12] - Adesis' revenue in Q1 2025 was $6.6 million, compared to $3.7 million in Q1 2024, indicating growth in this segment [12] Market Data and Key Metrics Changes - OLED smartphone units are forecasted to grow by 6% year-over-year to 848 million units, OLED IT units are expected to increase by 16% to 27 million units, and OLED TVs are projected to grow by 4.5% to 7.1 million units [8] - The overall OLED market is expected to see mid-single-digit growth in 2025, driven by diverse product roadmaps and applications [7] Company Strategy and Development Direction - The company is focused on innovation and operational agility, with a commitment to advancing OLED technology and materials [7][16] - The long-term trajectory of the OLED market is viewed positively, with expectations for new generation OLED capacity to come online in 2026 [7] Management's Comments on Operating Environment and Future Outlook - Management noted a solid start to 2025, with an uptick in orders in April attributed to ongoing tariff developments, although the business remains largely unaffected by these uncertainties [6][5] - The company maintains a revenue guidance range of $640 million to $700 million for the year, despite ongoing uncertainties [11][45] Other Important Information - The company ended the quarter with approximately $918 million in cash and investments and announced a $0.45 quarterly dividend [14][15] - A $100 million share repurchase authorization was also announced, reflecting confidence in continued positive cash flow generation [15] Q&A Session Summary Question: Update on blue phosphorescent OLED commercialization - Management expressed satisfaction with LG Display's announcement regarding the commercialization of blue phosphorescent OLED panels, indicating that specific timelines for product introduction are up to customers and OEMs [19][20] Question: Impact of LG's announcement on other customers - Management noted that multiple customers have been working on blue materials for years, and the announcement may accelerate development but specifics depend on each customer's program [22] Question: Stability of blue fluorescence materials - Management explained that blue fluorescence has been established in the market for decades, which contributes to its stability compared to new phosphorescent materials [28] Question: Expectations for gross margin improvement - The guidance for total gross margin remains at 76% to 77%, with variations based on customer mix and new contracts [38] Question: Revenue from blue development - Blue development revenues in Q1 were approximately $1.1 million, encompassing both host and emitter sales [74] Question: OpEx expectations for the year - Management expects total operating expenses to be flat compared to 2024, despite a lower level in Q1 due to various factors [76] Question: Shift towards tandem architectures - Management indicated that tandem structures are primarily used in IT applications for their benefits, but the majority of smartphones are expected to remain single-layer [83]

【WitsView整理】 4月24日，天马微电子在上海车展举行"好车配好屏"媒体发布活动。发布会上， 天马推出了CMS电子后视镜系统和OLED轩辕曲面座舱两大创新技术。 屏幕采用8.1英寸异形显示屏，搭载Local dimming技术、ALS(Ambient Light Sensor)屏幕集成技 术、SLT(Super lowtemperature)盒内加热技术，内置亮度温度控制算法，具备高亮高对比度、环境 光自适应调节、低温快速响应等特性。 OLED轩辕曲面座舱是天马联合康宁推出的双13英寸多曲率一体黑OLED显示屏，采用了多曲率设 计，可变曲率R800-2000mm，满足座舱内饰流线型造型需求。其可实现超低反射率R<0.5%， DeltaE<0.8，在息屏状态下可实现双屏边界的"隐身"效果，呈现出一体化OLED大屏的显示效果。 同时，这款显示屏采用了天马SLOD技术(StackedLayer OLED Device)与TPOT(Touch Panel on Thin Film Encapsulation)技术，具备高对比、高亮度、窄边框、低功耗等显示特性，使屏幕更薄、更轻 与寿命更长。 据悉，目前天马以" ...

电子纸是一种模仿墨水在纸张上印刷效果的显示技术，其核心优势是具有双稳态（Bistable）和反 射式（Reflective）特性，即极少的耗电量与依靠反射环境光来显示内容。 近年来，随着LCD/OLED技术高度成熟以及全球对节能减碳、绿色环保需求增长的情况下，电子 纸显示技术吸引到越来越多显示行业玩家关注。 随着电子纸技术关注度的日渐上升，在近日的Touch Taiwan 2025展会上，电子纸技术方案与终端 应用也成为本次展会焦点之一。 电子纸技术持续往大尺寸、全彩、可折叠等方向发展 元太科技 作为电子纸产业链龙头企业，元太科技展出了首款宽温全彩电子纸E Ink Marquee™，采用全新四 色粒子显示系统，色彩更鲜艳，专为户外及数字广告牌应用而设计。 产品可在无需冷却系统的情况下在-20°C 至 65°C 的操作环境运作，产品最大可达75英寸，显示画 面更新时间介于5至7秒之间。 元太科技还推出最大尺寸的E Ink Spectra™ 6产品—75英寸全彩电子纸，具有高色彩饱和度、显示 流畅度进一步提升、超低功耗设计，操作温度介于0至50°C。 宽温全彩电子纸E Ink Marquee™（图片来源：元太科技 ...

Core Viewpoint - Transsion Holdings reported a total revenue of 6,874.33 million yuan for 2024, marking a year-on-year increase of 10.35%, while net profit attributable to shareholders grew by 0.96% to 559.01 million yuan [1]. Financial Performance Summary - Total revenue for 2024 reached 6,874,329.10 thousand yuan, up 10.35% from the previous year [1]. - Operating profit was 656,469.45 thousand yuan, a decrease of 2.70% year-on-year [1]. - Net profit attributable to shareholders was 559,013.70 thousand yuan, reflecting a 0.96% increase compared to the previous year [1]. - Net profit excluding non-recurring gains and losses was 460,917.69 thousand yuan, down 10.21% year-on-year [1]. Reasons for Performance Changes - The increase in overall shipment volume contributed to the rise in revenue, while market competition and supply chain costs led to a decline in gross margin [2]. - The company primarily focuses on the design, research and development, production, sales, and brand operation of smart terminals, with its main products being the TECNO, itel, and Infinix smartphone brands [2].

撰文 / 郑 浩 钧 设计 / 师 超 当大语言模型带来了更优秀的语音交互后，车载显示系统也走到了变革的时间点。 在刚刚结束的CES 2025上，京东方、TCL华星、天马等显示技术厂商都展出了其在汽车显示领域的最新成果，最大的亮点是各类HUD产品。 其中，京东方展出的智能座舱中采用44.8英寸PHUD（全景抬头显示）贯穿式大屏，可实现9k分辨率、7000nits峰值亮度。 TCL华星展出的11.98英寸P-HUD抬头显示屏用3块LCD投影显示取代传统仪表盘，出屏亮度达11,000nits，单屏功耗仅15W；其3D AR-HUD PGU采用5.5 英寸LCD显示屏，能够实现裸眼3D效果，产品总成体积仅不到12L。 天马微电子自主研发的IRIS HUD，可将成像投影至车辆风挡底部边缘，拥有从A柱到A柱的超宽画幅显示能力；现代摩比斯也首次公开展示与蔡司合作 的全息宽幅挡风玻璃显示器。 在HUD之外，上述厂商还在CES 2025上拿出了新一代车载折叠屏、滑卷屏、超宽屏等产品。 在柔性OLED领域，京东方展出了当前最大的拼接滑卷车载显示屏，能够灵活地在31.6英寸至17.6英寸之间切换。同时，京东方还全球首发了集电动折 ...