全球化供应链体系的完善产生积极影响。该合作预计将对公司未来经营发展形成有益支撑。 （集 邦Display整理） 【集邦Display显示产业交流群】 11月25日，翰博高新宣布，公司已与全球显示行业领军企业LG Display（LGD）正式建立合作关 系，为其提供涵盖切裂+偏贴+Bonding+BLU+LCM以及二级材料的全制程一体化生产服务。 图片来源：翰博高新 资料显示，翰博高新为半导体显示面板背光显示模组及重要零部件的一站式综合方案供应商。公 司主要产品包含背光显示模组，以及导光板、精密结构件、光学材料等背光显示模组相关零部 件，可广泛应用于笔记本电脑、平板电脑、桌面显示、车载显示、医疗显示器、工控显示器及VR 等终端产品领域。 产能方面，翰博高新越南子公司翰维科技（越南）有限公司今年9月正式开业。该基地将分阶段建 设：2025年完成全自动化背光源及LCM产品认证并量产，2026年实现材料配套本地化。 此外，翰博高新今年7月启动胡志明精密结构件基地建设，计划2025年底投产，涵盖精密冲压、 注塑及模内注塑生产，并建立模具研发与工装治具定制能力，服务笔记本、车载电子、工业条形 屏及通信终端等领域。 财务数 ...

资料显示，深圳市隆利科技股份有限公司位于广东省深圳市龙华新区大浪办事处高峰社区云峰路光浩工 业园G栋三、四楼，成立日期2007年8月16日，上市日期2018年11月30日，公司主营业务涉及背光显示 模组的研发、生产和销售。主营业务收入构成为：背光显示模组96.51%，其他(补充)3.49%。 隆利科技所属申万行业为：电子-光学光电子-LED。所属概念板块包括：小鹏汽车概念、光学、理想汽 车概念、智能眼镜、虚拟现实等。 11月21日，隆利科技盘中下跌2.05%，截至09:54，报18.18元/股，成交1809.02万元，换手率0.63%，总 市值41.54亿元。 资金流向方面，主力资金净流入3596.00元，大单买入117.93万元，占比6.52%，卖出117.57万元，占比 6.50%。 隆利科技今年以来股价涨6.94%，近5个交易日跌7.48%，近20日跌13.06%，近60日跌28.93%。 截至11月10日，隆利科技股东户数1.93万，较上期减少0.61%；人均流通股8165股，较上期增加0.61%。 2025年1月-9月，隆利科技实现营业收入10.92亿元，同比增长16.01%；归母净利润4632.2 ...

Core Viewpoint - The stock of Nanji Guang fell by 2.09% on November 11, with a current price of 25.78 CNY per share, reflecting a market capitalization of 5.74 billion CNY and a trading volume of 44.58 million CNY [1] Company Overview - Nanji Guang, established on January 4, 2009, and listed on February 3, 2021, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, and sales of mobile phone components, primarily focusing on backlight display modules, which account for 99.18% of its revenue [2] - The company operates within the electronic industry, specifically in the optical optoelectronics and LED sectors, and is associated with concepts such as Xiaomi, smartphones, consumer electronics, MLED, and LED [2] Financial Performance - For the period from January to September 2025, Nanji Guang reported a revenue of 615 million CNY, representing a year-on-year growth of 158.18%. The net profit attributable to the parent company reached 110 million CNY, showing a significant increase of 7228.28% [2] - Since its A-share listing, Nanji Guang has distributed a total of 27.36 million CNY in dividends, with no dividends paid in the last three years [3] Shareholder Information - As of October 20, 2025, the number of shareholders for Nanji Guang was 15,200, a slight decrease of 0.05% from the previous period. The average number of circulating shares per person increased by 0.05% to 10,365 shares [2] - Notably, as of September 30, 2025, Huazhang Small and Medium Growth Mixed Fund (040007) has exited the list of the top ten circulating shareholders [3]

Group 1 - The APEC meeting highlighted the importance of maintaining stable and smooth industrial chains and promoting regional cooperation, with the complementary and collaborative development of Chinese and Korean enterprises serving as a significant example for sustainable development in the Asia-Pacific region [1] - A small enterprise in South Korea, producing components for televisions, relies almost entirely on raw materials from China, showcasing the long-term collaboration between the company and multiple Chinese suppliers for over fifteen years [3] - In 2024, the bilateral trade volume between China and South Korea is projected to reach $328.08 billion, marking a 5.6% year-on-year increase, with China remaining South Korea's largest trading partner for 21 consecutive years [5] Group 2 - The integration of industrial and supply chains between China and South Korea is deepening, particularly in key sectors such as semiconductors and batteries, where both countries exhibit high levels of complementarity [5] - Despite increasing competitive factors, there are still many areas for cooperation between China and South Korea, particularly in achieving stable supply chain collaboration in sectors where both countries have mutual needs [7] - China's advancements in science and technology, especially in robotics, position it as a significant partner for South Korea, emphasizing the potential for future-oriented and sustainable development through collaboration [7]

Core Insights - The focus of the 2025 APEC meeting will be on maintaining stable and smooth industrial chains and promoting regional cooperation, with the complementary and collaborative development of Chinese and Korean enterprises in the supply chain being a significant aspect of cooperation in the Asia-Pacific region [1] Group 1: Trade and Economic Cooperation - The bilateral trade volume between China and South Korea is projected to reach $328.08 billion in 2024, reflecting a year-on-year growth of 5.6%, with China being South Korea's largest trading partner for 21 consecutive years [9] - Since the implementation of the China-South Korea Free Trade Agreement in 2015, trade has continued to grow, significantly expanding investment and industrial cooperation [12] - As of September 2024, nearly 29,000 South Korean companies have entered the Chinese market, indicating a strong presence and investment in China [12] Group 2: Industry Collaboration - South Korean companies, particularly in the semiconductor and battery sectors, have formed a highly complementary relationship with Chinese suppliers, with some core raw materials still heavily reliant on imports from China [7] - A South Korean small and medium-sized enterprise reported that the raw materials sourced from Chinese companies have an average defect rate of less than 1% per month, highlighting the quality of Chinese products [5] - South Korean enterprises in various sectors, including food, fashion, and retail, are actively expanding into the Chinese market, establishing long-term cooperation agreements with Chinese companies to explore diverse and stable collaboration models [15] Group 3: Technological Advancements - China has made significant advancements in science and technology, particularly in robotics, where it possesses world-class capabilities, indicating potential areas for collaboration despite increasing competition [9] - The collaboration between Chinese and South Korean companies in high-end manufacturing and technological innovation is continuously expanding [7]

Core Viewpoint - The stock of Nanjing Guangguang has shown significant growth this year, with a year-to-date increase of 101.63%, despite recent fluctuations in the short term [2]. Company Overview - Nanjing Guangguang Electronics Technology Co., Ltd. is located in Shenzhen, Guangdong Province, and was established on January 4, 2009. It was listed on February 3, 2021. The company focuses on the research, production, and sales of mobile phone components, primarily backlight display modules, which account for 99.18% of its revenue [2]. - The company operates within the electronic industry, specifically in the optical optoelectronics and LED sectors. It is associated with concepts such as Xiaomi, OLED, Huawei, smartphones, and consumer electronics [2]. Financial Performance - For the period from January to September 2025, Nanjing Guangguang reported a revenue of 615 million yuan, representing a year-on-year growth of 158.18%. The net profit attributable to shareholders reached 110 million yuan, marking a substantial increase of 7228.28% [2]. - As of October 20, 2025, the number of shareholders was 15,200, a slight decrease of 0.05% from the previous period, while the average circulating shares per person increased by 0.05% to 10,365 shares [2]. Stock Performance - As of October 31, the stock price of Nanjing Guangguang rose by 2.02% to 27.22 yuan per share, with a trading volume of 33.1 million yuan and a turnover rate of 0.78%. The total market capitalization stands at 6.06 billion yuan [1]. - In terms of capital flow, there was a net inflow of 818,700 yuan from main funds, with large orders accounting for 21.85% of purchases and 19.38% of sales [1]. Dividend Information - Since its A-share listing, Nanjing Guangguang has distributed a total of 27.36 million yuan in dividends, with no dividends paid in the last three years [3]. Institutional Holdings - As of September 30, 2025, Huazhang Small and Medium Growth Mixed Fund (040007) has exited the list of the top ten circulating shareholders [3].

Core Insights - Weishi Electronics is a leading manufacturer of backlight display modules in China, established in September 2003 and listed on the Shanghai Stock Exchange in September 2020 [1] Financial Performance - For Q3 2025, Weishi Electronics reported revenue of 1.64 billion yuan, ranking 21st in the industry, significantly lower than the top player BOE Technology Group's revenue of 154.55 billion yuan and TCL Technology's 135.94 billion yuan [2] - The company's net profit for the same period was 24.29 million yuan, ranking 20th in the industry, also trailing behind the leading companies [2] Financial Ratios - As of Q3 2025, Weishi Electronics had a debt-to-asset ratio of 49.26%, an increase from 40.23% year-on-year and above the industry average of 45.77% [3] - The gross profit margin was reported at 12.30%, down from 12.98% year-on-year and below the industry average of 14.89% [3] Executive Compensation - The chairman, Yamaguchi Masaru, received a salary of 1.5083 million yuan in 2024, a decrease of 108,200 yuan from 2023 [4] - The general manager, Kuroda Kazuya, saw an increase in salary to 1.1788 million yuan in 2024, up by 186,400 yuan from the previous year [4] Shareholder Information - As of September 30, 2025, the number of A-share shareholders decreased by 0.92% to 19,200, while the average number of circulating A-shares held per shareholder increased by 0.93% to 11,100 [5]

Core Viewpoint - Nanji Guang is a leading backlight display module supplier in China, with a strong technical foundation and efficient production capabilities, serving many well-known brands [1] Group 1: Business Performance - In Q3 2025, Nanji Guang achieved revenue of 615 million yuan, ranking 23rd among 30 companies in the industry, significantly lower than the top company Sanan Optoelectronics at 13.82 billion yuan and the second company Mulinsen at 12.18 billion yuan [2] - The revenue from backlight display module products was 394 million yuan, accounting for 99.18% of total revenue, while other revenue was 3.26 million yuan, making up 0.82% [2] - The net profit for the same period was 110 million yuan, ranking 7th in the industry, lower than the top company Leyard at 295 million yuan and the second company Mulinsen at 213 million yuan, but higher than the industry average of 46.49 million yuan [2] Group 2: Financial Ratios - As of Q3 2025, Nanji Guang's debt-to-asset ratio was 28.34%, up from 24.16% year-on-year, but still below the industry average of 46.71%, indicating good solvency [3] - The gross profit margin for the same period was 27.62%, significantly up from 10.34% year-on-year and higher than the industry average of 20.22%, showing enhanced profitability [3] Group 3: Management Compensation - The chairman, Pan Lianxing, received a salary of 881,600 yuan in 2024, an increase of 275,900 yuan from 2023 [4] - The general manager, Jiang Faming, earned 681,300 yuan in 2024, up by 75,000 yuan from the previous year [4] Group 4: Shareholder Information and Market Position - As of September 30, 2025, the number of A-share shareholders increased by 3.54% to 15,200, while the average number of circulating A-shares held per shareholder decreased by 3.41% to 10,400 [5] - The company has become the exclusive supplier of backlight modules for the Switch 2, which has exceeded sales expectations in its first month, becoming a core growth driver [5] - Forecasts for net profit attributable to shareholders from 2025 to 2027 are 245 million, 394 million, and 462 million yuan, respectively, with corresponding basic earnings per share of 1.1, 1.8, and 2.1 yuan [5]

Core Viewpoint - The article discusses the Q3 2025 financial performance of several companies, highlighting revenue and net profit changes, along with insights into their business operations and future investments [2]. Company Summaries 深纺织 (Shenzhen Textile) - In Q3 2025, Shenzhen Textile reported revenue of 864 million yuan, a decrease of 3.8% year-on-year, and a net profit of 24.21 million yuan, down 30.84% [4][5]. - For the first three quarters, total revenue was 2.465 billion yuan, a decline of 2.26%, with a net profit of 59.45 million yuan, down 24.66% [4][5]. - The company plans to invest 1.334 billion yuan in a new production line for LCD and OLED polarizers, aiming to enhance production capacity and market share [6]. 三利谱 (Sanli Photoelectric) - In Q3 2025, Sanli Photoelectric achieved revenue of 963 million yuan, up 39.57% year-on-year, but net profit fell to 7.05 million yuan, down 24.79% [7][8]. - Cumulatively, the first three quarters saw revenue of 2.643 billion yuan, a growth of 41.09%, while net profit was 44.99 million yuan, down 30.50% [8]. - The decline in net profit is attributed to increased exchange losses, higher interest expenses, and rising operational costs [8]. 诚志股份 (Chengzhi Co., Ltd.) - Chengzhi Co., Ltd. reported Q3 2025 revenue of 2.723 billion yuan, a 5.68% increase, with net profit soaring to 84.45 million yuan, up 169.63% [10][11]. - For the first three quarters, total revenue reached 8.704 billion yuan, a growth of 5.66%, but net profit decreased by 52.58% to 104 million yuan [11]. - The decline in net profit for the first three quarters is mainly due to tax payments and falling product prices [12]. 四川长虹 (Sichuan Changhong) - Sichuan Changhong's Q3 2025 revenue was 25.184 billion yuan, a slight decrease of 2.69%, while net profit surged to 506.92 million yuan, up 690.83% [13][14]. - Year-to-date revenue reached 81.889 billion yuan, a 5.94% increase, with net profit of 1.008 billion yuan, up 192.49% [14]. - The significant profit increase is driven by non-operating income, particularly from fair value changes in investments [14]. 翰博高新 (Hanbo High-tech) - Hanbo High-tech reported Q3 2025 revenue of 870 million yuan, a 33.34% increase, with net profit of 17.66 million yuan, up 153.33% [16][17]. - For the first three quarters, total revenue was 2.424 billion yuan, a growth of 44.06%, but the company reported a net loss of 8.79 million yuan [17]. - The company is expanding its operations with new facilities in Vietnam, aiming for automation and local production by 2025 [18]. 新相微 (New Silicon Micro) - New Silicon Micro achieved Q3 2025 revenue of 151 million yuan, a 34.93% increase, but net profit fell to 2.73 million yuan, down 59.80% [19][20]. - Cumulatively, the first three quarters saw revenue of 436 million yuan, a growth of 27.21%, with net profit of 8.18 million yuan, up 138.88% [20]. - The increase in revenue is attributed to expanded product offerings and improved market share [21].

Core Viewpoint - Hanbo High-tech has shown a significant increase in revenue and a notable change in shareholder structure, despite reporting a net loss in the first half of 2025. Group 1: Financial Performance - For the period from January to June 2025, Hanbo High-tech achieved operating revenue of 1.554 billion yuan, representing a year-on-year growth of 50.84% [2] - The company reported a net profit attributable to shareholders of -26.4494 million yuan, which is a year-on-year increase of 59.91% in losses [2] Group 2: Shareholder Structure - As of June 30, the number of shareholders of Hanbo High-tech was 11,200, a decrease of 17.25% compared to the previous period [2] - The average circulating shares per person increased by 20.82% to 13,148 shares [2] Group 3: Financing and Trading Activity - On October 13, Hanbo High-tech's stock price increased by 0.06%, with a trading volume of 70.2198 million yuan [1] - The financing buy-in amount on the same day was 6.554 million yuan, while the financing repayment was 6.2673 million yuan, resulting in a net financing buy-in of 286,700 yuan [1] - The total balance of margin trading for Hanbo High-tech as of October 13 was 95.6169 million yuan, accounting for 3.07% of the circulating market value [1] Group 4: Business Overview - Hanbo High-tech, established on December 2, 2009, and listed on August 18, 2022, is located in Hefei, Anhui Province [1] - The company specializes in providing comprehensive solutions for key components of semiconductor display panels, including optical design, light guide plate design, precision mold design, overall structural design, and intelligent manufacturing [1] - The main business revenue composition includes backlight modules (75.85%), backlight module components (19.92%), and other supplementary income (4.22%) [1]