多家显示行业的领军企业携最新产品和技术亮相现场。京东方展示了AI智境与AR/VR设备，呈现了家 居与办公场景中的智能显示应用；维信诺（002387）通过柔性屏幕互动，让观众感受了显示屏幕的柔韧 性与创新形态；天马微电子与友达光电联合打造的"未来出行体验舱"，展现了多屏联动信息娱乐系统的 未来汽车座舱；海信通过RGB MiniLED客厅系统，还原了影院级视听体验；云视科技的电子鱼缸则以 逼真画面营造出闹市中的宁静疗愈空间。 资料显示，SID成立于1962年，总部位于美国硅谷，是显示领域具有全球影响力的专业学会。此次闪展 通过场景化、互动化的展示方式，有效推动了显示技术的科普与产业对接，反映出中国在新型显示应用 领域的积极探索与市场活力。 中证报中证网讯（记者 王辉）11月21日至23日，由国际信息显示学会中国区（SID China）主办的"出色 ·触手可及"沉浸式交互显示闪展，在上海市南京路步行街举办并向公众免费开放。本次展览以"显示·交 互·感知未来"为主题，将前沿显示技术推向街头，让大众近距离体验科技带来的变革。 展览设置多个互动体验区，涵盖XR（扩展现实）沉浸互动、AI拍照、数字人互动、MR运动游戏、艺术 ...

据姜幸群介绍，AI+正深度赋能显示行业，深入渗透并重构制造产业链。京东方通过深化人工智能技术 创新和融合应用，充分释放人工智能的倍增效应，助力显示行业发展。 在"AI+制造"方面，京东方在显示行业率先发布了AI工厂。京东方AI工厂以新一代人工智能技术为核心 驱动力，目前首批规划的AI工厂已在有序落地中，在生产计划、物料供应、生产制造、品质管理等场 景实现质效全面提升。 在"AI＋产品"方面，京东方打造了"器件-整机-系统"多重模式的产品创新，围绕画质、功耗、护眼和交 互等方面持续突破；同时，京东方构建出基于人工智能驱动的材料研究、仿真设计、工艺创新、智能算 法及终端场景创新路径，已经赋能办公、家居、教育、文娱、医疗等多个场景。另外，在AI+运营版 块，京东方将AI技术渗透到市场、计划、供应链、经营管理等核心职能中。 转自：新华财经 姜幸群表示，今年9月京东方发布了面向显示行业的大模型系列——"京东方蓝鲸显示大模型"，具备全 模态、多场景、高精度、强推理等特征，犹如为显示产业装上一颗"智慧大脑"，向生产制造、产品创 新、经营管理三大业务板块持续输送领先的数智化解决方案，推动行业迈向智能化发展的全新阶段。 新华财 ...

Core Viewpoint - Qingyue Technology is under investigation by the China Securities Regulatory Commission for suspected financial data inflation in periodic reports, leading to significant stock price fluctuations [1][2]. Financial Performance - Before its IPO, Qingyue Technology showed steady revenue growth, with a revenue increase from 14.33% in 2020 to 50.4% in 2022. However, post-IPO, the revenue growth plummeted by 36.69% in 2023, marking the first loss in its history [2][3]. - The company's total revenue for 2023 is projected at 4.76 billion, a 13.64% decrease year-on-year, with a net loss of approximately 433.5 million [21][22]. Dependency on Han Shuo Technology - Post-IPO, Qingyue Technology became heavily reliant on Han Shuo Technology, with sales to Han Shuo increasing from 13.22% of total revenue in 2020 to 70.13% in 2022, followed by a decline in 2023 [4][6]. - Sales figures to Han Shuo from 2020 to 2024 were 0.66 billion, 2.58 billion, 7.12 billion, 4.64 billion, and 4.64 billion, respectively, indicating significant volatility [4]. Gross Margin Issues - The company's gross margin has seen drastic fluctuations, dropping from around 30% pre-IPO to as low as 3% post-IPO, with a slight recovery to 7.59% [6][7]. - The electronic paper module segment reported a gross margin of -7.25%, primarily linked to sales to Han Shuo Technology [7]. Tax Audit and Business Authenticity - Qingyue Technology's export trade business is under scrutiny due to a tax audit, questioning the authenticity of its operations. The audit covers the period from November 2020 to November 2023 [9][11]. - The company has received nearly 100 million in tax refunds during 2021 and 2022, coinciding with the peak sales growth to Han Shuo [11][13]. Stock Buyback Plan - In response to the investigation and stock price decline, the company's chairman proposed a share buyback plan amounting to 10 million to 20 million, citing confidence in the company's long-term value [19][22]. - The buyback comes as the lock-up period for major shareholders is nearing its end, raising concerns about potential stock dilution [22].

Group 1 - The company is currently focused on the Micro LED large-size ultra-high-definition display business [2] - The products launched by the company, such as the Lehman conference all-in-one machine, education all-in-one machine, and ultra-high-definition home giant screen wall, are innovative products empowered by AI technology [2] - These products aim to provide users with a more intelligent, efficient, and exciting experience in meetings, teaching, and viewing [2]

Core Insights - The 2025 8th Micro LED Display Technology and Industry Development Conference has commenced in Kunshan, highlighting the city's role as a global focal point for the display industry and its integration with artificial intelligence [1] - The conference signals that China's Micro LED industry has emerged as a global leader, with Kunshan's development being particularly noteworthy [2] Industry Development - The conference showcases a "Kunshan Micro LED industry map" featuring major companies like Visionox, AUO, and Longteng Optoelectronics, indicating the formation of a trillion-level industry cluster [2] - Kunshan is solidifying its position as a national and global hub for Micro LED technology transformation and industry incubation, attracting top talent, innovative projects, and capital [2] Technological Advancements - The focus on "smart display" at the conference emphasizes Kunshan's comprehensive Micro LED pilot platform, which integrates the entire supply chain from chip design to module manufacturing [3] - Companies in Kunshan, such as Visionox and Longteng Optoelectronics, are demonstrating significant technological breakthroughs in flexible micro-displays and automotive transparent displays, enhancing the potential for end applications [3] Ecosystem and Vision - The release of the "Jiangsu Province New Display Industry Development White Paper (2025)" outlines Kunshan's role as a core support point for the new display industry cluster in Jiangsu [4] - Kunshan has established a collaborative innovation mechanism involving government, enterprises, and research institutions, providing comprehensive support for the industry chain [4] - The Micro LED industry is characterized by its long supply chain and strong driving force, presenting substantial business opportunities for upstream and downstream players [4]

Core Viewpoint - The company is focusing on the B-end market while gradually promoting the application of Micro LED technology in the C-end market through supply chain integration [2] Industry Development - The Micro LED application in the C-end market is still in its early stages, primarily concentrated in high-end televisions and wearable devices [2] - Future growth in Micro LED applications for the C-end market is expected as costs decrease and the supply chain matures [2]

Core Viewpoint - The company plans to sell its wholly-owned subsidiary, Kunshan Longteng Electronics Co., Ltd., to optimize resource allocation and enhance operational efficiency in line with its global strategic development plan [1][4]. Company Overview - Kunshan Longteng Electronics was established in 2002 with a registered capital of 616 million RMB, engaging in the development, production, and sales of various display devices and related products [3]. - As of September 30, 2025, Kunshan Longteng Electronics reported total assets of 476 million RMB and net assets of 470 million RMB [3]. Financial Performance - In 2024, Kunshan Longteng Electronics achieved a revenue of 887 million RMB and a net profit of 1.36 million RMB, but faced a significant decline in 2025 with revenue dropping to 152 million RMB and a net loss of 9.44 million RMB in the first three quarters [3][4]. - Longteng Optoelectronics reported a 27.72% year-on-year decline in quarterly revenue for Q3 2025, totaling 614 million RMB, with a cumulative revenue of 1.90 billion RMB for the first nine months, also down 27.85% year-on-year [4]. Cash Flow and Assets - For the first nine months of 2025, the company generated a net cash flow from operating activities of 134 million RMB, a decrease of 55.83% compared to the previous year, primarily due to reduced cash receipts from sales [5]. - As of September 30, 2025, the total assets of Longteng Optoelectronics were 6.61 billion RMB, showing a slight increase of 0.49% from the end of 2024, while the equity attributable to shareholders decreased by 4.20% to 4.11 billion RMB due to net profit losses [5]. Strategic Implications - The sale of Kunshan Longteng Electronics is viewed as a strategic move to address cyclical fluctuations in the display industry and to focus on core technologies and new productivity initiatives [5]. - By divesting non-core or underperforming assets, the company aims to concentrate resources on high-growth areas, potentially enhancing long-term profitability amidst increasing global competition in display technology [5].

Core Insights - The research conducted by scientists from the University of Cambridge and Meta Reality Lab reveals that the human eye has a "resolution limit," indicating that there is a maximum number of pixels that can be effectively recognized, beyond which additional pixels become redundant information [1][2] - Traditional understanding suggests that the human eye can discern about 60 PPD (pixels per degree), but experimental results show that the average resolution for black and white images can reach 94 PPD, while colored patterns show varying limits [2] Industry Implications - The findings suggest that in typical viewing scenarios, such as watching a 44-inch 4K or 8K television from 2.5 meters away, consumers may not perceive a significant difference compared to a 2K resolution television, indicating that higher resolutions may not provide a noticeable improvement in visual experience [2] - The research emphasizes the need for the display industry to focus on smarter technology that aligns with human visual characteristics rather than merely pursuing higher pixel counts, which can lead to increased costs and energy consumption [2]

Group 1 - The company, Hisense Visual, announced that its 10th Board of Directors' 18th meeting was held on October 29, 2025, via communication methods to review the proposal for the company's Q3 2025 report [1] - For the year 2024, the revenue composition of Hisense Visual is 92.12% from the display industry and 7.88% from other businesses [1] - As of the report date, the market capitalization of Hisense Visual is 32.1 billion yuan [1]

Core Insights - The current AI industry is at a strategic turning point, with a focus on practical AI tools rather than the distant concept of "super AGI" [1] - A collaboration has been established between Zhouming Technology, Zhiyu AI, and Lingyun Guang to create Shenzhen Zhixian Robotics Co., Ltd., with a registered capital of 50 million yuan [1] - Zhouming Technology's AI transformation will concentrate on customized industry models and applications, targeting vertical fields such as education, healthcare, and security [1] Group 1 - Zhouming Technology's Vice President described the collaboration as combining a "super brain" (Zhiyu), "eyes" (Yuan Keshijie), and "body" (Zhouming) to upgrade display terminals from mere information carriers to intelligent entities [2] - The joint venture aims to provide an integrated solution of "algorithm models + hardware terminals + perceptual interaction," supporting the full chain from model training to hardware integration [2] - The focus for B-end clients is on the applicability of AI solutions rather than the strength of the models, emphasizing the need for industry-specific data and targeted model development [2] Group 2 - Zhouming Technology aims to develop deep vertical AI rather than broad general AI, requiring integration with clients' business knowledge to generate industry-specific content [3] - The company's screens serve as central terminals for data accumulation, allowing for precise matching of B-end and G-end needs [3] - Zhouming is also building capabilities for C-end markets, planning to establish joint ventures with companies that have C-end expertise [3] Group 3 - The AI business has become a significant growth driver for Zhouming, with recent AI revenue surpassing the total from the previous year, indicating a successful transition [3] - AI solutions offer higher profit margins compared to traditional screen sales, helping Zhouming navigate the competitive price war in the traditional screen market [3] - The key to AI commercialization is understanding industry pain points and ensuring that technology is grounded in real-world applications [4]