| | 特定对象调研 ☑ | □分析师会议 | | --- | --- | --- | | 投资者关系活动 | □媒体采访 | □业绩说明会 | | 类别 | □新闻发布会 | □路演活动 | | | □现场参观 | | | | □其他 | | | | 上海国泰海通证券资产管理有限公司：肖凯 | | | | 中银国际证券股份有限公司：周世辉 | | | | 中财招商投资集团：潘晓聪、刘清香 | | | | 黄石经开产业投资有限公司：冯志强 | | | | 东方财富信息股份有限公司：卢华银 | | | 参与单位名称及 | 东方财富证券股份有限公司：王宜宁 | | | 人员姓名 | 深圳智富圈基金管理有限公司：李剑辉 | | | | 深圳市小维塔投资有限公司：徐琳 | | | | 深圳市前海骏杰资产管理有限公司：徐灵娥、孔庆华 | | | | 长城证券股份有限公司：梁韵诗 | | | | 深圳市汇银担保控股有限公司：胡俊卿 | | | | 厦门可乐兄弟投资责任有限公司:孙永青 | | | | 个人投资者：吕崇文、陈家昌、刘有友 | | | 时间 | 2025 年 8 月 19 日-2025 年 | 8 月 20 ...

Core Insights - The global digital entertainment event ChinaJoy 2025 opened in Shanghai, showcasing TCL Huaxing's comprehensive esports display solutions in collaboration with partners like Samsung and Lenovo [1] Group 1: Company Developments - TCL Huaxing's CEO Zhao Jun highlighted that mid-sized OLED will be a significant industrial opportunity in the coming years, with a strategic focus on printed OLED technology for various applications [3] - The company aims to address traditional OLED challenges such as high costs, low yield, and limited form factors through printed OLED technology, with the first showcase being a medical display [3] - TCL Huaxing entered the esports display market in 2019 and has since become a leader, with its screens accounting for one in three esports displays globally from 2022 to 2024 [4] Group 2: Market Trends - The rise of foldable smartphones presents new opportunities for panel manufacturers, with TCL Huaxing continuously developing related technologies for future products [4] - There has been a decline in production capacity utilization for large TV displays since Q2, attributed to preemptive customer stocking in Q1, leading to a temporary drop in panel prices [4][5] - A forecast for Q3 indicates a 3-4% increase in TV panel shipments compared to Q2, driven by seasonal demand and inventory adjustments [5] Group 3: Industry Outlook - The panel industry has seen a shift from high volatility to more stable operations, with manufacturers adjusting production rates based on demand to avoid inefficient price competition [5] - TCL Huaxing has been exploring production strategies since 2022, transitioning from full production to demand-based manufacturing, which is expected to benefit the industry and the company in the long term [5]