相关报告：智研咨询发布的《2025-2031年中国液晶显示模组行业市场专项调研及投资前景规划报告》 根据中国海关数据显示：2025年10月中国平板显示模组进口数量为1.43亿个，同比下降17.9%，进口金 额为41.86亿美元，同比增长0.4%，2025年10月中国平板显示模组出口数量为2.24亿个，同比增长 16.3%，出口金额为41.23亿美元，同比增长2.2%。 近一年中国平板显示模组进口情况统计图 近一年中国平板显示模组出口情况统计图 数据来源：中国海关，智研咨询整理 知前沿，问智研。智研咨询是中国一流产业咨询机构，十数年持续深耕产业研究领域，提供深度产业研 究报告、商业计划书、可行性研究报告及定制服务等一站式产业咨询服务。专业的角度、品质化的服 务、敏锐的市场洞察力，专注于提供完善的产业解决方案，为您的投资决策赋能。 数据来源：中国海关，智研咨询整理 ...

Core Insights - The report by Zhiyan Consulting highlights the trends in China's LCD module industry, focusing on import and export statistics for September 2025 [1] Import and Export Data - In September 2025, China imported 101 million LCD display modules, marking a year-on-year increase of 5.7%, with an import value of $90.2 million, which represents a year-on-year decrease of 9.1% [1] - The export figures for the same month show that China exported 182 million LCD display modules, reflecting a year-on-year increase of 12.1%, with an export value of $2.756 billion, which is a year-on-year increase of 17% [1] Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services, including feasibility studies and customized reports [1]

Core Insights - The report by Zhiyan Consulting highlights the trends in China's LCD display module industry, focusing on import and export statistics for August 2025 [1] Import and Export Data - In August 2025, China imported 99 million LCD display modules, representing a year-on-year decrease of 10.1%, with an import value of $9.65 million, down 9.1% compared to the previous year [1] - The export figures for the same month show that China exported 206 million LCD display modules, marking a year-on-year increase of 9.4%, with an export value of $29.46 million, which is a 1.8% increase year-on-year [1] Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, providing comprehensive industry research reports, business plans, feasibility studies, and customized services [1] - The firm emphasizes its commitment to delivering high-quality services and market insights, aiming to empower investment decisions through thorough industry solutions [1]

Core Insights - In April 2025, China's imports of OLED display modules amounted to 38 million units, reflecting a year-on-year decline of 2.3%, with an import value of $1.593 billion, down 9% year-on-year [1] - Exports of OLED display modules from China reached 31 million units in April 2025, showing a year-on-year increase of 3.3%, with an export value of $1.19 billion, up 2.5% year-on-year [1] Import Data - The import quantity of OLED display modules in April 2025 was 38 million units [1] - The import value for the same period was $1.593 billion [1] - Year-on-year changes indicate a decline of 2.3% in quantity and 9% in value [1] Export Data - The export quantity of OLED display modules in April 2025 was 31 million units [1] - The export value for the same period was $1.19 billion [1] - Year-on-year changes indicate an increase of 3.3% in quantity and 2.5% in value [1]

Core Insights - The report by Zhiyan Consulting highlights the trends in China's LCD module industry, focusing on import and export statistics for April 2025 [1] Import and Export Data - In April 2025, China imported 107 million LCD flat panel display modules, representing a year-on-year decrease of 6.8%, with an import value of $940 million, down 15.5% year-on-year [1] - In the same month, China exported 183 million LCD flat panel display modules, showing a year-on-year increase of 15.8%, with an export value of $2.76 billion, up 16.2% year-on-year [1] Industry Analysis - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services, including feasibility studies and customized reports [1]

Core Insights - The report by Zhiyan Consulting highlights the trends in China's LCD module industry, focusing on import and export statistics for July 2025 [1] Import and Export Data - In July 2025, China imported 99 million LCD flat panel display modules, representing a year-on-year decrease of 10.1% [1] - The import value for the same period was $9.65 billion, showing a year-on-year decline of 9.1% [1] - In contrast, China exported 206 million LCD flat panel display modules in July 2025, which is a year-on-year increase of 9.4% [1] - The export value reached $29.46 billion, reflecting a year-on-year growth of 1.8% [1] Industry Context - Zhiyan Consulting is recognized as a leading industry consulting firm in China, specializing in in-depth industry research and providing comprehensive consulting services [1] - The firm has a strong focus on delivering quality services and market insights to empower investment decisions [1]

Economic Performance - In the first half of 2025, Guangzhou's GDP reached 1,508.099 billion yuan, with a year-on-year growth of 3.8% [1] - The primary industry added value was 11.234 billion yuan, growing by 4.2%; the secondary industry added value was 370.587 billion yuan, growing by 2.1%; and the tertiary industry added value was 1,126.278 billion yuan, growing by 4.3% [1] Industrial Growth - The industrial added value in Guangzhou increased by 0.7% year-on-year, with the automotive manufacturing sector facing challenges, showing a decline of 5.7% [2] - New energy vehicle production accelerated, with cumulative output growing by 9.5%, an increase of 8.8 percentage points compared to the first quarter [2] - The integrated circuit manufacturing sector saw a significant increase in added value by 30.0%, while production of LCD modules, analog chips, and industrial robots grew by 150%, 19.5%, and 19.0% respectively [2] - Fixed asset investment in Guangzhou grew by 0.8% year-on-year, with infrastructure investment increasing by 4.2% and real estate development investment recovering with a growth of 4.1% [2] Consumer Market Recovery - The total retail sales of consumer goods in Guangzhou reached 561.122 billion yuan, with a year-on-year growth of 5.9%, improving by 2.4 percentage points from the first quarter [3] - Retail sales of new energy vehicles, communication equipment, home appliances, and furniture showed strong demand, with significant increases in sales [3] - Online retail sales of physical goods grew by 16.4%, and restaurant revenues through online platforms increased by 10.9% [3] - By the end of June, the balance of deposits and loans in Guangzhou's financial institutions reached 17.69 trillion yuan, with deposits growing by 4.7% and loans by 5.0% [3]

Core Viewpoint - ST Yushun (002289.SZ) is attempting a cross-industry restructuring to achieve self-rescue amid pressure from new delisting regulations in the A-share market [1][2] Group 1: Company Overview - ST Yushun's original business focused on small and medium-sized liquid crystal displays and touch modules, serving sectors such as smartphones, automotive electronics, and smart home devices [1] - The company is facing significant financial challenges, with projected 2024 revenue between 170 million to 240 million yuan and a net loss of 19 million to 26.3 million yuan, triggering delisting risk warnings [1] Group 2: Acquisition Details - On April 22, 2025, ST Yushun announced a framework agreement to acquire 100% equity in three companies controlled by Olive Ida Limited, aiming to expand into the Internet Data Center (IDC) sector [1] - The acquisition is expected to add approximately 8,000 cabinets to ST Yushun's operational scale, although the overall valuation and transaction price of the target companies have not been disclosed [1] Group 3: Market Context and Implications - The restructuring reflects the anxiety of traditional manufacturing companies under delisting pressure, with the data center industry being a policy-supported direction [2] - Key factors for the success of the acquisition include the quality of the target assets, transaction compliance, and the company's integration capabilities [2] - If the transaction is successful, ST Yushun may achieve its self-rescue goals; however, failure or underperformance of the target assets could exacerbate delisting risks [2]