Core Viewpoint - The article discusses GoerTek's strategic investment in Haylo to enhance its Micro LED technology and support its AI smart glasses and AR business development [3][9]. Investment Announcement - GoerTek announced a loan of up to $100 million (approximately 714 million RMB) to Haylo to promote the maturity of Micro LED technology and products [3][9]. - The loan will be used by Haylo to acquire 100% of Plessey Semiconductors Limited and to increase Plessey's capital for purchasing Micro LED-related fixed assets and supplementing working capital [5]. Plessey Semiconductors Overview - Plessey, established in 2000, focuses on developing ultra-high-resolution Micro LED displays for AR and VR devices [5]. - Plessey has collaborated with companies like Vuzix and Meta to develop AR/VR micro-display technology [5]. Technological Achievements - Plessey has launched several products, including a monochrome passive matrix Micro LED display and the world's first silicon-based InGaN red LED [6]. - In January 2023, Plessey and Meta announced a breakthrough in developing the highest brightness red Micro LED display, achieving up to 6,000,000 nits brightness at high resolution (<5 microns) [6]. Financial Performance - Despite being in the early stages of Micro LED technology, Plessey reported profitability in recent years, with revenues of approximately $74.79 million and a net profit of about $12.41 million for the fiscal year 2024 [6]. - For the fiscal year 2025, Plessey's revenue is projected to be around $72.72 million, with a net profit of approximately $2.8 million [6]. GoerTek's Business Transition - GoerTek, known for precision components and smart hardware manufacturing, aims to reduce reliance on major clients by expanding its VR/AR headset and smart gaming console business [7]. - In the first half of 2022, smart hardware became GoerTek's largest business segment, boosting the company's overall gross margin [7]. Optical Technology Development - GoerTek established GoerTek Optics in 2012 to focus on the R&D and production of optical display technologies for VR & AR and micro-projection [8]. - The company has developed various AR optical products based on DLP, LCoS, and Micro LED technologies [8]. Strategic Goals - The investment aims to enhance GoerTek's resource integration capabilities in the upstream supply chain and strengthen strategic cooperation with leading industry clients [9]. - This investment is expected to further promote the maturity of Micro LED technology and products, benefiting GoerTek's AI smart glasses and AR business in the future [9].

Core Viewpoint - In April 2025, Taiwan's panel manufacturers showed a mixed revenue performance, with leading companies like AUO and Innolux experiencing slight declines, while smaller firms like HannStar and Lianjia benefited from high-growth businesses. The industry is adapting to market fluctuations through diversification and technological advancements [15]. Group 1: AUO (友达光电) - AUO's revenue for April 2025 was NT$231.38 billion (approximately RMB 55.37 billion), a year-on-year decrease of 2.65% [1][2] - Cumulative revenue for 2025 reached NT$952.40 billion (approximately RMB 227.91 billion), reflecting a year-on-year increase of 14.41% [1][2] - AUO announced a joint venture with E Ink to establish a large electronic paper module production line, expected to commence production in Q4 2025 [2] Group 2: Innolux (群创光电) - Innolux's revenue for April 2025 was NT$189.97 billion (approximately RMB 45.46 billion), a year-on-year decrease of 1.34% [3][4] - Cumulative revenue for 2025 was NT$749.29 billion (approximately RMB 179.31 billion), showing a year-on-year increase of 7.43% [3][4] - Innolux showcased advanced technologies at Touch Taiwan 2025 and is progressing towards mass production of fan-out panel-level packaging (FOPLP) [5] Group 3: HannStar (瀚宇彩晶) - HannStar's revenue for April 2025 was NT$1.006 billion (approximately RMB 2.41 million), a year-on-year increase of 41.09% [6][7] - Cumulative revenue for 2025 reached NT$3.906 billion (approximately RMB 9.35 million), reflecting a year-on-year increase of 20.19% [6][7] - The company has improved yield rates in its eco-friendly display business and is increasing its revenue share from automotive applications [7] Group 4: Lianjia (凌巨科技) - Lianjia's revenue for April 2025 was NT$721 million (approximately RMB 1.73 million), a year-on-year increase of 24.59% [8][9] - Cumulative revenue for 2025 was NT$2.768 billion (approximately RMB 6.62 million), showing a year-on-year increase of 7.54% [8][9] - The company is optimistic about growth in its industrial control and consumer electronics segments, particularly due to increased demand for printers and instant cameras [9] Group 5: Raibo (铼宝科技) - Raibo's revenue for April 2025 was NT$375 million (approximately RMB 0.90 million), a year-on-year increase of 57.48% [10][11] - Cumulative revenue for 2025 reached NT$1.153 billion (approximately RMB 2.76 million), reflecting a year-on-year increase of 45.43% [10][11] - The growth is attributed to revenue recognition from battery cabinets after customer acceptance, and the company is expanding into the energy sector [11][12] Group 6: Hualing (华凌光电) - Hualing's revenue for April 2025 was NT$183 million (approximately RMB 0.44 million), a year-on-year decrease of 4.70% [13][14] - Cumulative revenue for 2025 reached NT$699 million (approximately RMB 1.68 million), showing a year-on-year increase of 5.85% [13][14] - The company is expanding its production capacity in Taiwan and is actively engaging with U.S. clients to shift orders to local production [14]