Group 1 - Qingyue Technology (SH 688496) held its 20th meeting of the second board on September 29, 2025, discussing the proposal to change the accounting firm [1] - For the year 2024, Qingyue Technology's revenue composition is as follows: electronic paper modules 70.01%, PMOLED 18.36%, AMOLED 3.85%, other businesses 3.61%, and silicon-based OLED 1.69% [1] - As of the report date, Qingyue Technology has a market capitalization of 4.2 billion yuan [1] Group 2 - The competition between Farmer and Yibao has intensified, with Farmer's green bottle launch leading to a significant market share drop for Yibao, decreasing nearly 5 percentage points [1]

Group 1: Longteng Optoelectronics - Longteng Optoelectronics reported a revenue of 1.289 billion yuan, a decrease of 27.91% year-on-year [2][4] - The net profit attributable to shareholders was -152 million yuan, an improvement of 74 million yuan compared to the same period last year [2][4] - The company is focusing on new development opportunities in AI, ESG, and low-altitude economy, while enhancing its product structure through innovation [5] Group 2: Qingyue Technology - Qingyue Technology achieved a total revenue of 329 million yuan, a year-on-year increase of 9.49% [6] - The net profit attributable to the parent company was -30.76 million yuan, a reduction in loss by 8.12 million yuan compared to the previous year [6][7] - The company is actively expanding new applications for its PMOLED products in various fields, including drones and smart homes [7][8] Group 3: Nanjing Panda - Nanjing Panda reported a revenue of 1.043 billion yuan, a decrease of 16.61% year-on-year [9][10] - The net profit attributable to shareholders was -45.58 million yuan [9][10] - The company is undergoing a transition in its industrial internet and smart manufacturing businesses, with a focus on upgrading its green service-oriented electronic manufacturing [11] Group 4: Vision Source - Vision Source achieved a revenue of 10.565 billion yuan, a year-on-year increase of 4.39% [12][13] - The net profit attributable to shareholders was 397.68 million yuan, a decrease of 19.66% compared to the previous year [12][13] - The company is expanding its LED product offerings and has seen a 52.26% year-on-year growth in LED business revenue [13]

Company Summary - Qingyue Technology (SH 688496) announced a share buyback of approximately 1.63 million shares, representing 0.36% of the total share capital of 450 million shares, with a total expenditure of approximately 12.99 million RMB [1] - The highest buyback price was 9.98 RMB per share, while the lowest was 6.11 RMB per share [1] Revenue Composition - For the year 2024, the revenue composition of Qingyue Technology is as follows: - Electronic paper modules accounted for 70.01% - PMOLED accounted for 18.36% - AMOLED accounted for 3.85% - Other businesses accounted for 3.61% - Silicon-based OLED accounted for 1.69% [1]

Group 1 - The global XR (AR/VR) display shipments are expected to grow by 6% year-on-year by 2025, with AR devices experiencing a significant growth rate of 42%, compared to VR devices' modest growth of 2.5% [1] - The anticipated growth in AR is driven by the introduction of new AR smart glasses that utilize displays for AI-supported applications rather than just media consumption [1] - In 2024, a significant decline in display panel shipments is expected as XR device manufacturers clear inventory and adjust business plans, with the release of Meta Quest3S contributing to this decline due to its single LCD panel design [1] Group 2 - LCD technology is projected to dominate VR display technology, accounting for 87% of shipments in 2025, used in both entry-level and high-end devices with advanced technologies [1] - In the AR sector, the share of silicon-based OLED is expected to decrease to 75%, allowing more room for MicroLED and LCoS display technologies [1] - The report anticipates a continuation of the recovery trend in 2026, with AR display panel shipments increasing by 38% and VR by 2.1%, although uncertainties exist due to U.S. tariffs on Chinese goods affecting XR device demand [2]

【WitsView整理】 4月27日，清越科技、深纺织、天山电子、天禄科技、联得装备相继披露最新 业绩。具体如下： | 2025年第一季度业绩 | | --- | 清越科技 在PMOLED领域，公司与三星、惠而浦、小米、海尔、美的、小天鹅等国内外品牌客户保持长期 稳定的合作，产品广泛应用于遥控器、音箱、加湿器等各类家电产品。在电子纸领域，除汉朔科 技等主要客户，公司还成功与杭州智控、苏州易泰勒、苏州沃联、青岛英泰、深圳每开创新、英 国Displaydata、法国SES等新客户建立起合作关系并已实现量产；在硅基OLED领域，公司与传 音、天趣、未来全屏通等XR领域客户达成合作。 2025年第一季度，公司实现营收约1.71亿元，同比增长4.83%；实现归属于母公司所有者的净利 润-1598.84万元；实现归属于母公司所有者的扣除非经常性损益的净利润-1,771.92万元。 | | | == | INTE / VALLA | | --- | --- | --- | --- | | 项目 | 本报告期 | 上年同期 | 本报告期比上 年同期增减变 | | | | | 动幅度(%) | | 营业收入 | 171,821 ...