Group 1: Automotive Display Business - The company has maintained the global leading position in automotive display shipments for five consecutive years since 2020, achieving the highest shipment volume of automotive TFT-LCD and automotive instrument displays globally [1] - In the first half of this year, the automotive display business revenue grew approximately 27% year-on-year, with sales to international leading automakers increasing over 70% [1][2] - The LTPS automotive display segment saw a shipment increase of over 76% year-on-year, driven by the demand for upgraded screen specifications [2] Group 2: Automotive Electronics - The automotive electronics business began bulk deliveries to international leading clients in 2023, with sales growth exceeding 70% year-on-year in the first half of 2025 [3] - This segment is expected to enter a rapid growth phase alongside the development of client projects, becoming a new growth engine for the company's automotive display business [3] Group 3: Micro-LED Development - The Micro-LED production line was lit in 2024, achieving small batch shipments of standardized display modules in 2025, marking a significant advancement in the company's Micro-LED capabilities [4] Group 4: AMOLED Mobile Business - In the first half of 2025, the flexible AMOLED mobile business saw profitability improve by over 50% year-on-year, supported by enhanced production capacity and product structure optimization [5][6] - The TM18 production line's output increased, focusing on high-specification products and covering flagship models across major domestic brands [6] Group 5: Foldable Screen Technology - The company has developed multiple foldable screen technologies and successfully mass-produced various foldable products, including left-right and up-down folding screens [7] Group 6: Chip Business and M&A Plans - The company focuses on display technology and does not engage in semiconductor chip development, but is exploring non-display applications based on panel technology [8] - The company adheres to a "2+1+N" strategy, seeking suitable investment targets for potential mergers and acquisitions to strengthen its competitive position in key areas of the industry chain [9] Group 7: Depreciation and Share Buyback - The company anticipates that depreciation in 2025 will not differ significantly from 2024, remaining at a peak level, with a gradual decrease expected in the absence of new line investments [11] - The current share buyback is aimed at canceling the repurchased shares and reducing registered capital, with the process progressing steadily [11]

Group 1: Company Overview and Strategy - The company has established itself as a leader in the automotive display sector, maintaining the highest global shipment volume of automotive TFT-LCD displays for five consecutive years since 2020, with a 2024 revenue growth exceeding 40% in the automotive business [1][2] - The company plans to leverage existing LTPS and OLED production lines to accelerate the introduction of new technologies into the automotive display sector [1][2] Group 2: Market Trends and Opportunities - In 2025, the demand for automotive display products is expected to grow due to an increase in screen quantity and size, particularly driven by the rapid growth of the domestic new energy vehicle market [3] - The company aims to capitalize on opportunities in automotive electronics and new energy sectors to enhance its competitive edge in the automotive display market [3] Group 3: Automotive Electronics Business - The automotive electronics business focuses on delivering integrated display solutions to leading international automotive manufacturers, with mass deliveries starting in 2023 and expected to accelerate in 2024 [4] - This segment is anticipated to become a new growth engine for the company's automotive display business alongside the new energy vehicle sector [4] Group 4: Profitability and Market Competition - The company's automotive business gross margin has shown a steady increase year-on-year in Q1, despite facing competitive pressures and pricing challenges [5][6] - The company is committed to enhancing product complexity and integration to improve the value of automotive products and maintain a stable gross margin [6] Group 5: OLED Technology in Automotive Displays - The application of OLED technology in automotive displays is gaining attention, offering diverse solutions and expanding the technology's application scope [7] - As the OLED industry matures and achieves competitive pricing, its penetration in the automotive sector is expected to increase, with the company planning to leverage its G6 AMOLED production line for automotive display applications [7]