Core Viewpoint - The South Korean government plans to invest 484 billion KRW (approximately 25.16 billion RMB) in inorganic light-emitting diode (iLED) display technology by 2032 to seek new growth engines for the country's display industry [1] Group 1: Investment and Development Plans - The investment will focus on developing iLED technologies, including Micro LED, quantum dots, and nano LED, while fostering the South Korean industrial ecosystem [1] - The Korean Display Industry Association announced its full support for the R&D projects related to inorganic light-emitting displays and the ultra-differentiated R&D projects for organic light-emitting diodes (OLED) [1][2] - The project will cover various areas, including epitaxial growth technology, chip transfer and bonding technology, and the development of high-resolution devices for augmented reality (AR) and extended reality (XR) [1][2] Group 2: Market Growth and Competitive Landscape - The global iLED market is expected to grow from USD 1 billion in 2026 to USD 32 billion by 2035 [2] - Despite maintaining a leading position in the OLED market, South Korea is significantly lagging in iLED technology, heavily relying on foreign-manufactured LED chips and materials [1][2] - The Korean display industry is facing increasing competition from China, which has made significant advancements in the display sector, particularly in liquid crystal displays (LCD) and OLED technology [2] Group 3: Strategic Initiatives - The OLED ultra-differentiation R&D projects focus on mobile OLED display technology for extreme environments, silicon-based organic light-emitting diode (OLEDoS) technology for XR devices, and ultra-realistic light field display technology [2] - The Korean Display Industry Association aims to develop transformative technologies to maintain competitiveness against rivals like China, including ultra-thin high-reliability component structures and next-generation large-size flexible panels [2][3] - The launch of these R&D projects is seen as a crucial step to enhance core technological competitiveness and maintain sovereignty amid the unstable trade environment, particularly due to the US-China trade war [3]

Core Viewpoint - The Indian information and communication technology (ICT) export reached over $115.1 billion in the first half of the year, marking the second-highest level in history, driven by the demand for artificial intelligence (AI) data centers and record semiconductor exports [1]. Group 1: Export Performance - The ICT export from South Korea in the first half of the year amounted to $115.16 billion, representing a year-on-year increase of 5.8% [1]. - In June, the export value was $22.03 billion, showing a growth of 4.7% compared to the previous year [1]. - The semiconductor export reached $73.31 billion in the first half, with an increase of 11.4%, setting a new record for the first half of the year [1]. Group 2: Product-Specific Trends - The export of computers and peripheral devices grew by 10.8%, reaching $6.64 billion, driven by the expansion of AI servers and the demand for solid-state drives (SSD) in data centers [2]. - Conversely, the display and mobile phone sectors experienced declines, with display exports falling to $1.29 billion, a decrease of 33.7% [3]. - Mobile phone exports also decreased to $0.79 billion, down 6.2% year-on-year, influenced by reduced exports of semiconductors and sensor modules [3]. Group 3: Regional Export Dynamics - Exports to the United States, Taiwan, and Japan increased, while exports to China (including Hong Kong) and the European Union decreased [4]. - Exports to the U.S. reached $14.42 billion, up 14.5%, with a continuous growth streak for 20 months [4]. - Exports to Taiwan and Japan grew to $3.61 billion and $0.4 billion, with increases of 54.6% and 20.6%, respectively [4]. - Exports to China amounted to $7.89 billion, down 9.4%, despite a 16.9% increase in computer and peripheral device exports [4]. - Exports to the EU and India were $0.93 billion and $0.42 billion, reflecting declines of 5.3% and 6.3% respectively [5].

Industry News - The national insurance companies have fully implemented a long-cycle assessment mechanism of over three years, with the addition of five-year cycle indicators. The net asset return rate will now include a five-year cycle indicator, with weights of 30%, 50%, and 20% for the current year, three-year, and five-year indicators respectively [1][8] - The adjustment of the national basic medical insurance, maternity insurance, and work-related injury insurance drug catalog, as well as the commercial health insurance innovative drug catalog, has officially started. The new commercial insurance innovative drug catalog focuses on high innovation and significant clinical value drugs that cannot be included in the basic catalog due to exceeding the "basic protection" positioning [2][10] - The China Securities Association has released 28 measures to promote high-quality development in the securities industry, focusing on improving self-regulatory management and enhancing service functions [3][9] - The Shanghai Stock Exchange has published guidelines for the Sci-Tech Innovation Board, allowing 32 existing unprofitable companies to enter the growth layer immediately, with no additional listing thresholds for new unprofitable companies [3][6] Company News - China Shenhua announced a net profit of 23.6 billion to 25.6 billion yuan for the first half of the year, representing a year-on-year decline of 13.2% to 20% [14] - Fuda Alloy plans to acquire at least 51% of the shares of TOPCon battery silver paste company Guangda Electronics [15] - Huaxi Securities expects a year-on-year increase in net profit of 1025% to 1354% for the first half of the year [15] - Zijin Mining anticipates a net profit of approximately 23.2 billion yuan for the first half of the year, a year-on-year increase of 54% [16] - Sanhe Pile expects a year-on-year increase in net profit of 3091% to 3889% for the first half of the year [17] - Limin Co. anticipates a year-on-year increase in net profit of 719.25% to 782.27% for the first half of the year [17] - Lanqi Technology expects a year-on-year increase in net profit of 85.50% to 102.36% for the first half of the year [18] - Aopu Mai expects a net profit of approximately 37 million yuan for the first half of the year, a year-on-year increase of 53.28% [19] - China Jushi anticipates a year-on-year increase in net profit of 71.65% to 76.85% for the first half of the year [19] - Gaode Infrared expects a year-on-year increase in net profit of 735% to 957% for the first half of the year [19] - Degute is planning to acquire 100% of Haowei Technology, with stock resuming trading [19] - Kanghua Bio is planning a change of control, with stock suspended from trading [19] - Dongfang Caifu announced that its subsidiary Hafu Securities has been approved by the Hong Kong Securities and Futures Commission to provide virtual asset trading services [20] - Galaxy Microelectronics plans to invest 310 million yuan to build the first phase of a high-end integrated circuit discrete device industrialization base [20]

Group 1 - Samsung Display has begun preparations for producing OLEDs for a foldable iPhone, with a dedicated production line being established for Apple [1] - The factory's capacity is set at 35,000 sheets per month, translating to an annual production capacity of 15 million sheets based on a 7-inch foldable OLED standard [1] - As of July 10, 2025, the Consumer Electronics ETF has seen a cumulative increase of 2.38% over the past two weeks, ranking 2nd out of 5 comparable funds [1] Group 2 - As of June 30, 2025, the top ten weighted stocks in the Consumer Electronics Theme Index account for 51.02% of the index, including companies like Luxshare Precision and SMIC [2] - The Consumer Electronics ETF is closely tracking the Consumer Electronics Theme Index, which includes 50 listed companies involved in component production and electronic brand design [2]

Core Viewpoint - Metal halide perovskite is a promising candidate for next-generation light-emitting diodes (LEDs), with a focus on achieving high brightness and efficiency in pure red perovskite LEDs (PeLEDs) [2] Group 1 - The research team from the University of Science and Technology of China and the Shanghai Institute of Advanced Studies identified the performance bottleneck of pure red PeLEDs, leading to the successful development of high-performance pure red perovskite LEDs [2] - The study revealed that efficiency roll-off is caused by hole leakage, which was investigated using electroluminescence transient absorption spectroscopy (EETA) [4] - A novel CsPbI3-xBrx intragrain heterostructure was developed, incorporating narrow bandgap emitters and wide bandgap barriers to limit injected carriers, resulting in bright and efficient pure red PeLEDs [4] Group 2 - The new PeLEDs achieved a brightness of 24,600 candela per square meter, which is three times higher than previously reported pure red 3D perovskite LEDs [4] - The peak external quantum efficiency (EQE) reached 24.2%, comparable to top organic light-emitting diodes (OLEDs), with low efficiency roll-off maintaining 10.5% EQE at a high brightness of 22,670 candela per square meter [4]