Core Insights - JBD has successfully completed a B2 round financing exceeding 1 billion RMB, setting a record for single financing in the global MicroLED micro-display sector [1] - The funding will accelerate JBD's innovation in MicroLED technology and product iteration, aiming to transform its technological advantages into large-scale industrial capabilities for the global market [1][3] Company Development - JBD is celebrating its 10th anniversary in 2025, having established a strong technical moat through continuous innovation in MicroLED technology, achieving large-scale production and breakthroughs in key metrics like brightness and power consumption [3][4] - JBD's MicroLED products are currently utilized in nearly 50 models of smart glasses globally, positioning MicroLED as a key driver for the popularization of consumer-grade AR smart glasses [3] Technological Innovation - The recent financing provides robust support for JBD's ongoing technological innovation, including the launch of the "Hummingbird II," the smallest mass-produced color light engine, which enhances design flexibility and display quality while reducing power consumption [4] - The introduction of the MicroLED 2.5-micron pixel pitch "Zoujuan" platform addresses long-standing industry challenges, paving the way for next-generation compact, wide-field light engines and improving the user experience of consumer-grade AR smart glasses [4] Investment Perspective - Investors recognize AR glasses as a crucial product in the AI development process, with JBD being a leading company in the MicroLED micro-display sector, having built a deep moat through customer recognition, product iteration capabilities, and early large-scale production [5] - The investment aligns with strategies to capture leading companies in core industry segments, supporting JBD's position in the AR supply chain and its role in defining the next generation of human-computer interaction [5]

参与本次融资的机构亦持类似观点。在混沌投资看来，AR眼镜是AI发展过程中最重要的端侧产品之 一，供应链公司是推动消费电子产品跨越式发展的重要一环，也会最先受益下游产业爆发。 近日，上海显耀显示科技有限公司(简称：JBD)宣布完成超十亿元人民币B2轮融资，金额刷新全球 MicroLED微显示领域的单笔融资纪录。本轮融资由混沌投资和中信金石领投，中信证券国际资本、中 信证券投资、光速光合、银柏投资、智微资本、金浦投资、浦耀信晔、广发乾和、广发信德、浙江宥金 和派诺资本等跟投。 上述融资资金将用于加速JBD在MicroLED微显示技术的创新与产品迭代，携手生态伙伴推动消费级AR 生态共建，将JBD当前的技术优势与商业化积累转化为面向全球市场的大规模产业化能力。 JBD成立于2015年，十年来，公司持续深耕MicroLED微显示核心技术，从首个MicroLED原型亮相，到 业内率先实现规模化量产，并在亮度、功耗等关键指标上不断突破，逐步构筑起坚实的技术护城河。如 今，JBD MicroLED产品已应用于全球近50款智能眼镜。 "我们正处于AI+AR人机交互革命的新起点。"JBD CEO李起鸣表示，十年的深耕与积累，让 ...