10月10日晚间，京东方发布公告称，公司当日 收到副董事长高文宝先生提交的书面辞职报告。 公告显示，因个人原因，高文宝先生申请辞去公司董事、副董事长及董事会专门委员会委员职务， 辞职后将不再担任公司及控股子公司任何职务。截至 该 公告披露日，高文宝持有 京东方 股份 186万股。 京东方表示， 高文宝先生的辞职未导致公司董事会成员低于法定人数，不会影响公司董事会的正 常运行，公司将根据有关规定尽快补选新的董事。高文宝先生将按照《京东方科技集团股份有限公 司董事离职管理办法》相关规定办妥所有移交手续及履行其任职期间作出的承诺。 公开资料显示，高文宝为微电子与固体电子学博士，2003年加入京东方科技集团，历任北京京东 方光电科技有限公司技术副总监 、 生产总监，后升任集团高级副总裁 、 显示事业首席执行官等 职 。 2025年起担任京东方科技集团股份有限公司副董事长 、 总裁 、 执行委员会副主席，并兼 任 京东方精电 有限公司执行董事兼董事会主席 。（来源：京东方、集邦Display整理） #京东方 点击免费报名 >> III 票务 程雪贞 (Calla Cheng) 电话:0755-82838931-6805 ...

近日，安徽合肥、江苏南通分别有显示相关项目落地，涉及显示模组、新型显示光学材料领域，总 计投资达20亿。 睿合科技年产300万片显示模组项目签约合肥 在近日举办的2025世界制造业大会上，睿合科技与合肥高新区签署协议。协议显示，公司计划投 资10亿元建设创新事业研发中心及显示应用整合制造基地，项目达产后将形成年产显示模组300 万片、光学有机硅材料600吨的生产能力。通过引进等离子机、点胶机等150台套先进设备。 资料显示，睿合科技为京东方精电子公司，其作为京东方精电在合肥汽车电子领域的重要布局，睿 合科技专注于为汽车制造商提供从硬件到软件的全方位智能化解决方案。其产品涵盖智能仪表盘、 中控系统、电子后视镜、抬头显示和后座娱乐等多个领域，广泛应用于国内外众多知名汽车品牌。 值得一提的是，今年3月，睿合科技正式成为安徽省汽车行业协会会员单位。京东方精电称，加入 安徽省汽车行业协会后，睿合科技将充分发挥产业资源整合与协同效应，深度对接车企需求。通过 协会平台，睿合科技将联合母公司京东方精电，共同响应车企的技术需求，形成"显示模组+解决 方案"的打包输出模式，为车企提供一站式服务，降低采购复杂度。 此外，公司还将积 ...

9月22日，韩国电子材料公司 JK Materials（JKM）宣布， 其OLED面板用薄膜材料成功拿下首 笔订单。 据介绍，这款薄膜材料在智能手机OLED面板生产过程中，对提升和优化面板良率起关键作用。因 其性能要求极为严格，且难以实现大规模量产，此前一直由日本某材料供应商独家供应给韩国、中 国等全球面板企业，产品价格居高不下。 报道称， JKM新开发并供应的薄膜材料 在 满足了客户的性能要求 的同时 ，价格也比现有产品更 具竞争力。公司预计，这款OLED工艺用薄膜材料将率先应用于中国 某 大型面板制造商 的生产 线。这一应用不仅能帮助该面板企业显著降低生产成本，还能有效压低面板制造单价，提升企业市 场竞争力。 图片来源：JKM 值得一提的是 ，目前全球智能手机所采用的OLED面板，主要由中国和韩国的面板企业生产。 新 材料的应用，在一定程度上也将帮助全球智能手机制造商降低生产成本，同时缓解因地缘政治因素 带来的消费电子产品价格上涨压力 。 公司相关负责人表示："当前，OLED核心客户对公司这款新材料的关注度正快速提升。公司计划 优先将该材料应用于中国领先的大型面板企业B公司的生产线，而B公司是全球排名前两 ...

Core Viewpoint - Tianma Microelectronics launched its new high-end OLED technology brand "Tian Gong Screen" at a significant event, marking a milestone in its 42-year development and aiming to redefine high-end display standards with a focus on health experience [1][2][22]. Group 1: Brand Launch and Significance - The launch event featured prominent figures from academia and industry, highlighting Tianma's role as a key player in China's display industry and its commitment to high-end product lines [1][2]. - The brand's mission is to transition from a traditional hardware manufacturer to a "creator of sensory experiences," emphasizing user experience in display technology [4]. Group 2: Technological Innovations - The "Tian Gong Screen" introduces three breakthrough technologies: "Super Eye Protection," "Extreme Transparency," and "Smooth High Refresh Rate," aiming to enhance user experience [6][11][12][13]. - "Super Eye Protection" focuses on visual health with features like flicker-free technology, low blue light emission reduced to 4.7%, and adaptive brightness based on environmental light [11]. - "Extreme Transparency" achieves high brightness levels of 2500 nits and peak brightness of 8000 nits, with a wide color gamut covering 95% BT.2020 [12]. - "Smooth High Refresh Rate" supports a refresh rate of 165Hz, with potential expansion to 240Hz, ensuring fluid motion and reduced latency [13]. Group 3: Industry Collaboration and Recognition - The technology received endorsements from experts, including a certification for "Visual Health Friendliness" from the China Quality Certification Center, affirming its innovative eye protection features [20][23]. - Tianma and OPPO announced the establishment of a joint laboratory to collaborate on health display technology and industry standards, promoting a healthier and smarter display industry [21][24]. Group 4: Future Outlook - The launch of the "Tian Gong Screen" represents a qualitative leap for Chinese display technology and signifies the global reach of "Chinese Intelligent Manufacturing" [22][25].

Group 1 - The company, TCL Technology, is actively promoting its development in the commercial display sector [1]

Core Viewpoint - The company reported a significant increase in revenue for the first half of 2025, but faced a decline in net profit, indicating pressure on profitability despite strong sales growth in the semiconductor sector [1][2]. Group 1: Financial Performance - In H1 2025, the company achieved revenue of 1.38 billion yuan, a year-on-year increase of 23.2%, while the net profit attributable to shareholders was 27.67 million yuan, a decrease of 44.5% [1]. - In Q2 2025, the company reported revenue of 690 million yuan, a year-on-year decrease of 1.6%, with a net profit of -9.93 million yuan, compared to 65.75 million yuan in the same period last year [1]. Group 2: Semiconductor Business - The semiconductor sector saw revenue of 560 million yuan in H1 2025, a year-on-year increase of 146.4%, with a gross margin of 48.7%, up 8.1 percentage points [1]. - The net profit from the semiconductor business reached 160 million yuan, a year-on-year increase of 2316.4% [1]. - As of August 26, the company had an order backlog of approximately 1.82 billion yuan in the semiconductor sector, accounting for 50.5% of total orders [1]. Group 3: Display and New Energy Sectors - The display sector generated revenue of 670 million yuan in H1 2025, a year-on-year decrease of 13.5%, with a gross margin of 43.1%, up 1.6 percentage points [2]. - The order backlog in the display sector was approximately 1.44 billion yuan, a year-on-year increase of 38.7%, indicating a recovery trend [2]. - In the new energy sector, revenue reached 1.2 billion yuan, a year-on-year increase of 27.3%, with a gross margin of 28.7%, down 3.2 percentage points [2]. - The order backlog in the new energy sector was about 350 million yuan as of August 26 [2]. Group 4: Profit Forecast and Investment Recommendation - The company forecasts net profits attributable to shareholders of 210 million yuan, 350 million yuan, and 510 million yuan for 2025, 2026, and 2027, respectively, corresponding to current price-to-earnings ratios of 87, 52, and 36 times [3]. - The semiconductor business is entering a rapid growth phase, while the display business is gradually recovering, leading to a "buy" rating [3].

Core Viewpoint - The article highlights the performance of several companies in the display and electronics industry for the first half of the year, noting that Sichuan Changhong, Feikai Materials, and Tianshan Electronics achieved both revenue and net profit growth, while others faced declines in performance [1][2]. Company Performance Summary 1. Xinyi International - Xinyi International reported revenue of 74.42 billion RMB, a decrease of 5.7% year-on-year, and a net profit of 1.30 billion RMB, down 19.2% [2][3]. - The company's smartphone-related product business decreased by 12.1%, while non-smartphone-related products saw a slight decline of 0.4% [5]. 2. Sichuan Changhong - Sichuan Changhong achieved revenue of 567.05 billion RMB, an increase of 10.28%, and a net profit of 5.01 billion RMB, up 78.60% [2][7]. - The company noted significant growth in non-recurring gains, primarily due to the fair value increase of its investment in Huafeng Technology [9]. 3. Laibao High-Tech - Laibao High-Tech reported revenue of 31.45 billion RMB, a growth of 7.06%, but a net profit of 1.82 billion RMB, down 13.78% [2][10]. - The decline in net profit was attributed to increased R&D expenses and reduced interest income [12]. 4. Woge Optoelectronics - Woge Optoelectronics achieved revenue of 11.90 billion RMB, a growth of 14.20%, but continued to report net losses [2][13]. - The company increased R&D investment by 63.13% to enhance its core technology position in the glass substrate field [15]. 5. Sanlipu - Sanlipu reported revenue of 16.80 billion RMB, a significant increase of 41.97%, but a net profit of 0.38 billion RMB, down 31.47% [2][16]. - The decline in net profit was due to increased competition and pressure on profit margins [17]. 6. Liande Equipment - Liande Equipment reported revenue of 6.37 billion RMB, a decrease of 5.34%, and a net profit of 0.73 billion RMB, down 34.78% [2][19]. - The company aims to strengthen its technology reserves in the semiconductor display equipment sector [20]. 7. Feikai Materials - Feikai Materials achieved revenue of 14.62 billion RMB, a growth of 3.80%, and a net profit of 2.17 billion RMB, up 80.45% [2][21]. - The company expanded its product matrix through strategic acquisitions in the liquid crystal materials sector [22]. 8. Xiangtong New Materials - Xiangtong New Materials reported revenue of 2.79 billion RMB, a decline of 17.44%, and a net profit of -0.12 billion RMB, indicating a loss [2][24]. - The company faced challenges due to customer strategy adjustments and increased competition [26]. 9. Tianshan Electronics - Tianshan Electronics achieved revenue of 8.56 billion RMB, an increase of 29.66%, and a net profit of 0.75 billion RMB, up 15.46% [2][27]. - The company reported growth in various product lines, including monochrome LCD displays and touch screens [28].

Group 1: Chengdu Bank - Chengdu Bank reported a revenue of 12.27 billion yuan for H1 2025, a year-on-year increase of 5.9%, and a net profit attributable to shareholders of 6.62 billion yuan, up 7.3% year-on-year [5] - The bank's interest margin pressure has weakened, leading to accelerated revenue and profit growth [5] - The non-performing loan ratio remains low, indicating strong risk compensation ability [5] - The bank benefits from strategic opportunities in the Chengdu metropolitan area and has a natural advantage in acquiring quality corporate projects [5] Group 2: Nanda Optoelectronics - Nanda Optoelectronics achieved a revenue of 1.229 billion yuan in H1 2025, representing a year-on-year growth of 9.48%, with a net profit attributable to shareholders of 208 million yuan, up 16.30% year-on-year [5] - The company reported a non-recurring net profit of 162 million yuan, a year-on-year increase of 18.39% [5] - In Q2 2025, the company recorded a revenue of 602 million yuan, a decrease of 1.91% year-on-year and 4.12% quarter-on-quarter, while net profit was 112 million yuan, up 16.23% year-on-year and 17.47% quarter-on-quarter [5] Group 3: Weimais - Weimais reported a revenue of 2.96 billion yuan for H1 2025, a year-on-year increase of 7%, and a net profit attributable to shareholders of 272 million yuan, up 26% year-on-year [6] - The company achieved a non-recurring net profit of 253 million yuan, a year-on-year growth of 29% [6] - In Q2 2025, Weimais' revenue was 1.607 billion yuan, a year-on-year increase of 14% and a quarter-on-quarter increase of 19%, with a net profit of 171 million yuan, up 69% year-on-year and 70% quarter-on-quarter [6] Group 4: Tianfu Communication - Tianfu Communication reported a revenue of 2.456 billion yuan for H1 2025, a year-on-year increase of 57.84%, and a net profit attributable to shareholders of 899 million yuan, up 37.46% year-on-year [7] - The non-recurring net profit was 867 million yuan, reflecting a year-on-year growth of 35.27% [7] Group 5: BOE Technology Group - BOE Technology Group achieved a revenue of 6.671 billion HKD for H1 2025, a year-on-year increase of 8%, with revenue from automotive display-related businesses growing by 9% to 6.245 billion HKD [8] - The industrial display revenue increased by 5% to 426 million HKD, driven by demand growth from major customers in China [8] Group 6: Yongxin Co., Ltd. - Yongxin Co., Ltd. reported a revenue of 1.75 billion yuan for H1 2025, a year-on-year increase of 5.8%, and a net profit attributable to shareholders of 180 million yuan, up 1.7% year-on-year [9] - The company achieved revenues of 850 million yuan and 900 million yuan in Q1 and Q2 2025, respectively, with year-on-year growth of 1.6% and 10.1% [9] - The net profit for Q1 and Q2 2025 was 88.92 million yuan and 94.35 million yuan, reflecting year-on-year growth of 2.9% and 0.7% [9] Group 7: Haidilao - Haidilao reported a revenue of 20.703 billion yuan for H1 2025, a year-on-year decrease of 3.7%, with a net profit attributable to shareholders of 1.759 billion yuan, down 13.7% year-on-year [9] - The company experienced a decline in table turnover rate, while the average customer spending slightly increased [9] - Despite a decrease in net profit margin due to service quality improvements, Haidilao maintained a high dividend payout ratio [9]

Market Performance - The main board led the gains with stocks such as Helitai (+10.10%), TeFa Information (+10.05%), Bona Film (+10.04%), Changjiang Communication (+10.01%), and Cambridge Technology (+10.01%) [1] - The ChiNext board saw significant increases with stocks like Chinese Online (+20.01%), Hongjing Technology (+20.00%), and Chuangyitong (+14.95%) [1] - The Sci-Tech Innovation board also performed well, with Aerospace Hongtu (+20.00%), Kaipu Cloud (+20.00%), and Haiguang Information (+12.92%) leading the way [1] - Active sub-industries included SW Communication Network Equipment and Devices (+7.19%) and SW Communication Cables and Accessories (+6.14%) [1] Domestic News - Suir Technology and Xizhi Technology launched the xPU-CPO optoelectronic integrated chip, combining AI computing chips and optoelectronic chips to enhance communication density by 40% in the same area [1] - Toshiba and Tianyue Advanced reached a basic agreement on the development and manufacturing of SiC power semiconductor substrates, focusing on quality improvement and commercial cooperation [1] - SEMI announced the commencement of a semiconductor wafer regeneration project in Qingjiangpu District, aiming for a monthly production capacity of 400,000 regenerated wafers [1] - IDC forecasts that the smart SASE market in China will reach 1.4 billion RMB by 2025 and 3.7 billion RMB by 2029, with a compound annual growth rate of 27% [1] Company Announcements - Lindong Technology reported a total revenue of 156 million RMB for H1 2025, a year-on-year increase of 14.21%, with a net profit of 12 million RMB, up 335.11% [2] - Fuguang Co. announced a total revenue of 299 million RMB for H1 2025, a year-on-year increase of 10.47%, but reported a net loss of 39 million RMB [2] - Zhuhai Guanyu reported total revenue of 6.098 billion RMB for H1 2025, a year-on-year increase of 14.03%, with a net profit of 117 million RMB, up 14.77% [2] - Qiming Information reported total revenue of 330 million RMB for H1 2025, a year-on-year increase of 6.51%, with a net profit of 1.4 million RMB, up 2568.5% [2] Overseas News - SK Hynix announced the development and mass production of a 321-layer 2Tb QLC NAND flash product, set to enter the AI data center market in the first half of next year [2] - Samsung Display restructured its small and medium-sized display division, splitting it into two departments to enhance yield and quality [2] - Omdia's research indicates that the African smartphone market will see a 7% year-on-year growth in Q2 2025, reaching 19.2 million units, driven by improved purchasing power in key markets [2] - Intel stated that the government's investment of 8.9 billion USD is a supplement to a previous 2.2 billion USD grant, totaling 11.1 billion USD [2]

Core Insights - The event "Chain Movement Chang'an · Win-Win for Enterprises" focused on the artificial intelligence (AI) and big data industry chain, highlighting the collaboration between government, banks, and local enterprises [1] - A total of 231.8 billion yuan in strategic cooperation agreements were signed, emphasizing the financial support for the real economy and marking a significant step in government-bank-enterprise collaboration [1] Group 1 - The event took place in Xi'an High-tech Zone, showcasing the importance of AI and big data in driving high-quality development [1] - The project by Rainbow Co., Ltd. for the G8.5+ substrate glass production line represents a practical implementation of Xi'an's goal to create an "AI (big data) + display" industry cluster [1] - The responsible person from Hongyang Display (Xi'an) Technology Co., Ltd. expressed the expectation to explore a new collaborative model of "finance + technology + industry" in AI research and digital transformation of the industry chain [1] Group 2 - Xi'an City has prioritized the AI industry, leveraging the Xi'an High-tech Zone to establish a preliminary full industry chain from computing power support, algorithm development to application scenarios [1]