报告导读： 越南作为对美产能重要基地，视为对美关税谈判风向标，多数国家达成新关税 税率有所降低，关税扰动降低；黑电双雄份额提升趋势未改，全球供应链韧性强。 投资建议： 黑电行业正处于需求复苏与技术升级的窗口期，全球产能布局（尤其墨西哥、越南）是应对关 税挑战的核心策略。中国品牌在高端化和成本控制上的优势，为行业带来韧性，通过灵活产能调配和产品 升级，有望维持增长动能。越南关税落地，预计对美主要产能基地的关税在10%~40%左右区间博弈，较 市场前期46%以上的悲观预期有好转，不确定性基本消除。 TCL电子、海信视像并称"双雄"，凭借技术、产能优势占据全球份额。 2024年全球电视市场扭转连续下 滑趋势，大尺寸电视（80英寸及以上）出货量显著增长，消费者偏好持续增强。中国品牌TCL和海信在全 球市场份额稳步上升，逐渐缩小与三星的差距，并抢占高端市场份额。同时，显示技术进入升级周期，三 星和LG等韩企转向OLED，而黑电双雄聚焦MiniLED技术，作为LCD的升级延续。MiniLED渗透率在中国 受"国补"政策刺激快速提升，中长期有望带动黑电厂商盈利能力增强。中国品牌通过体育营销提升全球品 牌声量。 本公众订阅号 ...

由科促会钙钛矿产业分会指导、光伏领跑者创新论坛主办的"将于2025年 8月26-28日在 江苏常州盛大召开，即将为行业带来一场盛宴。超千人会 议规模，超百家参会企业， 欢迎各位钙钛矿行业同仁共商钙钛矿发展大计！ 大会特别邀请到TÜV北德集团中国区光伏产品运营总监刘亮先生做演讲报告《大尺寸钙钛矿光伏组件可靠性测试失效分析》： 报告题目 《大尺寸钙钛矿光伏组件可靠性测试失效分析》 光伏产品运营总监 钙钛矿作为一种新兴的太阳电池技术，凭借其高效率、低成本等显著优势，在短短十几年间迅速崛起，备受全球能源领域的关注。自2009年首次 应用以来，钙钛矿电池的光电转换效率实现了从3.8%到逼近晶硅电池效率极限的飞速增长。 然而，在钙钛矿迈向产业化发展的道路上，可靠性问题成为了制约其大规模商业化应用的关键瓶颈。与传统晶硅组件长达30年以上的发电寿命相 比，当前大尺寸钙钛矿组件的稳定性明显不足，这主要是钙钛矿材料自身的特性以及其对环境因素的高度敏感特性导致的。 因此，深入探究钙钛矿光伏组件的可靠性，对于推动其在能源市场的广泛应用具有极为重要的意义。 演讲嘉宾 刘亮 TÜV北德集团中国区 报告摘要 刘亮，现任TÜV北德集团中国区 ...

7月9日消息， 上交所公告，超颖电子电路股份有限公司(以下简称"超颖电子")将于7月10日上 会，接受上市审核委员会审议。 根据上市招股书显示， 超颖电子 本次计划上市募资6.6亿元， 其中4亿元用于高多层及HDI项目第 二阶段扩产，2.6亿元用于补充流动资金及偿还银行贷款 。 资料显示， 超颖电子成立于2015年，是一家专注于印制电路板（PCB）研发、生产和销售的企业 产品涵盖双面板至二十六层板、HDI 板、厚铜板、金属基板、高频高速板等，广泛应用于汽车电 子、显示器、存储、消费电子和通信等领域 。 其中，在汽车电子领域， 超颖电子是国内少数具备多阶HDI及任意层互连HDI汽车电子板量产能力 的公司之一，公司 的PCB 产品基本覆盖了整车各部位对PCB的需求，并 与大陆汽车、法雷奥、 博世、安波福等全球Tier 1汽车零部件供应商及特斯拉等知名新能源汽车厂商建立了稳定合作 关 系 。 在显示领域， 超颖电子与京东方、LG 集团等全球领先的显示面板制造商建立了长期稳定的合作 关系 ，公司 的双面板、金属基板PCB 产品广泛应用于LCD、OLED和Mini LED等显示面板 当 中。 据悉，针对大尺寸显示屏对P ...

Group 1 - The A-share market is experiencing the largest semiconductor IPO wave of the year, with at least 11 companies from various segments of the semiconductor industry submitting listing applications, indicating a trend of accelerated capital development in the domestic semiconductor sector [1][3] - Notable participants in this IPO wave include Changxin Technology, a leading storage chip company, which is expected to set a new industry benchmark [1][4] - The IPO pace in the semiconductor sector has significantly increased since June, with several key companies, including Shanghai Super Silicon Semiconductor Co., Ltd. and Unisoc, initiating their IPO processes [3][4] Group 2 - Changxin Technology's listing is strategically significant, coinciding with a critical point in the industry's development, as the global DRAM market is projected to exceed $100 billion by 2025 [4] - The listing of Changxin Technology is expected to drive the capitalization process of upstream and downstream enterprises, reshaping the industry valuation system and promoting overall semiconductor industry upgrades [4][5] - The current semiconductor industry is entering a key window period, with supportive policies from the Science and Technology Innovation Board providing essential capital assistance for enterprises [4]

Core Viewpoint - ChaoYing Electronics is showcasing the strength of Chinese technology companies in the critical electronic component field of printed circuit boards (PCBs) through high-performance products and core technological advantages [1] Group 1: Industry Positioning - ChaoYing Electronics has established a strong customer matrix in global automotive electronics, displays, storage, and servers, leveraging high-end products like multi-layer HDI and arbitrary layer interconnection HDI to create a dual growth engine of technological barriers and commercial value [1][3] - The company has become a key player in the automotive electronics sector, providing high-frequency millimeter-wave radar boards that meet the stringent requirements of autonomous driving systems [3][4] Group 2: Technological Innovations - In the display sector, ChaoYing Electronics has developed ultra-large size LCD display mainboards that maintain dimensional stability within 70μm over a length of 570-600mm, becoming core components for major panel manufacturers like BOE and LG [4] - The company has established stable partnerships with leading global hard disk manufacturers and solid-state drive manufacturers, achieving high-density integrated circuit graphics and ultra-low signal loss in its products [4] Group 3: Research and Development - ChaoYing Electronics has invested nearly 400 million yuan in R&D over the past three years, resulting in multiple invention and utility model patents, which enhance its product competitiveness [5] - The company has received various awards, including the "Best Supplier Award" from Continental Automotive and the Gold Award in the Quality Tool Innovation Application Competition from BOE, reflecting its deep involvement in customer projects [5] Group 4: Strategic Development - The company is enhancing its smart manufacturing capabilities through strategic projects like the second phase of high-layer and HDI projects, which will add an annual production capacity of 360,000 square meters of high-layer and HDI PCBs [6] - ChaoYing Electronics is expanding its international presence with its subsidiary in Thailand, focusing on communication servers and automotive electronics, thereby solidifying its foundation for continuous international customer development [6] - The company aims to build an irreplaceable value network in key segments of the global supply chain, emphasizing that the future of Chinese manufacturing lies in creating unique value rather than mere scale expansion [6]

Group 1 - TCL Technology has made substantial progress in acquiring a 21.5311% stake in Shenzhen Huaxing Semiconductor, with a total transaction value of 11.562 billion yuan, combining cash and shares for payment [1][2] - The cash component of the transaction amounts to 7.203 billion yuan, with approximately 4.359 billion yuan raised through a targeted issuance to no more than 35 specific investors [1][2] - Post-transaction, TCL Technology's ownership in Shenzhen Huaxing Semiconductor will increase from 62.68% to 84.21%, enhancing control over core semiconductor display assets [1][2] Group 2 - Shenzhen Huaxing Semiconductor will become a major shareholder of TCL Technology, holding a 4.99% stake, while TCL Technology's chairman and his associates will see their stake diluted from 6.74% to 6.40% [2] - The acquisition is expected to strengthen TCL Technology's main business and enhance profitability, solidifying its competitive position in the semiconductor display industry [2] - TCL Technology focuses on three main sectors: semiconductor displays, new energy photovoltaics, and semiconductor materials, following a significant restructuring in 2018 [2] Group 3 - The semiconductor display business of TCL Technology is projected to achieve a revenue growth of 24.6% year-on-year in 2024, reaching 104.3 billion yuan, with a net profit turnaround from a slight loss to a profit of 6.23 billion yuan [3] - TCL Huaxing is the second-largest panel manufacturer in mainland China, with large-size LCD TV panels as its core strength, contributing approximately 50% of its revenue [3] - Shenzhen Huaxing Semiconductor operates the T6 and T7 factories, which are critical for producing ultra-large size displays, with significant investments in these production lines [3][4] Group 4 - Shenzhen Huaxing Semiconductor was established in June 2016 and initially fully owned by TCL Huaxing, later introducing external shareholders like the Shenzhen Major Industry Development Fund and Samsung Display [4] - Following the recent transaction, the Major Industry Fund's stake will decrease to 10.77%, while TCL Technology's total stake will rise to 84.21%, with Samsung Display retaining 5.0239% of the shares [4]

2025年1月至5月，湖南娄底市固定资产投资增速以14.6%的佳绩位列全省第一，制造业、民间投资、产业投资同比增速分别为22.2%、14.6%、23.7%。尤为 亮眼的是民间投资增速居全省第二，工业投资与工业技改投资分别以24.4%和26.5%的增速，居全省第一和第三。 这些数字体现的不仅是量的跃升，更是质的彰显，当前的娄底，正以政策赋能、项目聚力、服务增效，全方位汇聚投资新动能，打造投资新高地。 政策赋能 抢占投资新高地 今年上半年，娄底市先后举办2025年中央投资项目储备申报、新型政策性金融工具等专题培训，引入"外智外脑"对本地企业与项目负责人进行精准辅导，通 过主动将本地发展需求与政策精准对接，为娄底的项目谋划与投资申报工作提供了有力的指导。截至6月底，娄底已累计争取到位中央资金41亿元。这一成 果的背后，是娄底对政策深入研究与高效执行的不懈努力。 建设中的爱派尔智能装备产业园北区5个项目（娄底市发改委 供图） 当前全市已谋划2000万元以上项目1693个，总投资高达11469亿元，涵盖产业发展、基础设施建设、社会民生等多个领域，为娄底的长远发展奠定了坚实的 基础。 为推进项目落地生效，娄底建立了一套高 ...

Core Viewpoint - TCL Technology has completed the transfer of 21.5311% equity in Shenzhen Huaxing Optoelectronics Semiconductor Display Technology Co., Ltd. for a transaction price of 11.562 billion yuan, enhancing its control in the semiconductor display industry [1][3]. Group 1: Company Overview - Shenzhen Huaxing Semiconductor primarily engages in the production, processing, and sales of large-sized TFT-LCD display devices, with a focus on TFT-LCD display devices and semiconductor display supporting materials [2]. - The company operates two panel factories in Shenzhen, utilizing G11 generation line technology, with glass substrate dimensions of 3370mm × 2940mm, achieving a high glass utilization rate of over 90% [2]. Group 2: Financial Performance - In 2022 and 2023, Shenzhen Huaxing Semiconductor achieved operating revenues of 16.703 billion yuan and 21.902 billion yuan, respectively. For the first ten months of 2024, the operating revenue reached 19.821 billion yuan, with a net profit of 2.149 billion yuan [2][3]. - The financial data for the first ten months of 2024 shows an operating profit of 239.631 million yuan and a total profit of 239.366 million yuan, indicating a significant improvement compared to previous years [3]. Group 3: Shareholding Structure - Prior to the transfer, TCL Technology controlled 62.6794% of Shenzhen Huaxing Semiconductor through TCL Huaxing and its subsidiaries. After the transfer, TCL's shareholding increased to 84.2105% [3]. - The remaining shares were held by the Major Industry Fund (32.2967%) and Samsung Display (5.0239%) [3]. Group 4: Strategic Implications - The completion of this transaction is expected to strengthen TCL Technology's core business, enhance its profitability, and improve its competitive position in the semiconductor display industry [3].

21.5311%的股权，并募集配套资金的重大资产重组方案。 在今年的5月2日，TCL科技连发多条公告，表示拟收购深圳华星半导体21.5311%的股权(对应注 册资本900.000万元)并募集配套资金。其现金对价为72.03亿元，股份对价为43.59亿元。 资料显示， 深圳华星半导体聚焦半导体显示业务，主要从事大尺寸TFT-LCD显示器件的生产、加 工与销售，主要产品为大尺寸TFT-LCD显示器件，包括 TFT-LCD显示器件和前端制程的半导体 显示配套材料。 目前，深圳华星半导体拥有两条面板产线，均为业内最高世代的11代线，采用 3370mm×2940mm的玻璃基板，可高效切割65英寸和75英寸TV面板，玻璃利用率高达90%以 上。 企查查显示， 现 TCL华星（TCL科技子公司）直接持有及通过其控股子公司广东华星光电间接控 制深圳华星半导体合计62.6794%的股权比例，为深圳华星半导体的控股股东。重大产业基金股权 比例为32.2967%，三星显示股权比例为5.0239%。 | 股东信息 1 ● E 股权纳构 | | VIP | | | | | | | © 企查查 | | --- | --- | --- | ...

股票简称：奥特维 股票代码：688516.SH 债券简称：奥维转债 债券代码：118042.SH 无锡奥特维科技股份有限公司 向不特定对象发行可转换公司债券 受托管理事务报告 （2024 年度） 受托管理人：平安证券股份有限公司 二〇二五年六月 重要声明 本报告依据《公司债券发行与交易管理办法》《无锡奥特维科技股份有限公 司向不特定对象发行可转换公司债券受托管理协议》 （以下简称《受托管理协议》） 《无锡奥特维科技股份有限公司向不特定对象发行可转换公司债券募集说明书》 （以下简称《募集说明书》）《无锡奥特维科技股份有限公司2024年年度报告》 等相关公开信息披露文件、第三方中介机构出具的专业意见等，由本次债券受托 管理人平安证券股份有限公司（以下简称平安证券）编制。平安证券对本报告中 所包含的从上述文件中引述内容和信息未进行独立验证，也不就该等引述内容和 信息的真实性、准确性和完整性做出任何保证或承担任何责任。 本报告不构成对投资者进行或不进行某项行为的推荐意见，投资者应对相关 事宜做出独立判断，而不应将本报告中的任何内容据以作为平安证券所作的承诺 或声明。在任何情况下，投资者依据本报告所进行的任何作为或不作 ...