Core Viewpoint - Liard's chairman emphasizes the importance of technological innovation to combat price wars and explores new growth avenues through AI and cultural tourism [1] Group 1: Technological Innovation - Liard focuses on LED display technology research and has made significant breakthroughs, particularly in MIP and COB technologies, achieving mass production of MIP as early as 2020 [2] - The newly launched Hi-Micro series products feature full viewing angles and high brightness, with a uniformity of brightness greater than 97%, outperforming COB technology [2] - Liard aims to penetrate the home theater and high-end commercial display markets, with a core technology advantage in the Micro LED movie screen segment, being the only company certified by DCI for a 0.9mm pitch Micro LED movie screen [3] - The company plans to reduce customer replacement barriers in the movie market through financial models like leasing and installment payments [3] - Liard has established a Hi-Micro production capacity of 1,200KK, with plans to increase it to 2,400KK to lower costs as production scales up [3] Group 2: Overseas Expansion - Liard has factories in Slovakia and Saudi Arabia, with additional operations in Singapore, India, and Malaysia, which helped mitigate losses during the US-China trade war [4] - Approximately 46% of Liard's total revenue comes from overseas, with over 50% of the display segment's revenue generated internationally, particularly strong in the North American market [4] - The company acknowledges the need for improvement in overseas market performance and plans to enhance marketing and product development efforts in these regions [4] Group 3: AI and Cultural Tourism Integration - Liard is leveraging AI technology in conjunction with the cultural tourism industry to create a second growth curve [5] - The acquisition of Natural Point in 2016 positioned Liard early in the AI sector, with the AI business now generating approximately 100 million annually [6] - The company is developing AI applications for interactive experiences, such as AI tour guides and digital celebrity narrators, enhancing its cultural tourism projects [6] - Liard's LED display technology is being integrated into various cultural tourism scenarios, including museums and exhibitions, to enhance the engagement of artifacts [7] Group 4: Project Strategy and Market Potential - Liard adopts a "light asset, quick output, and a combination of fast and slow" strategy for cultural tourism projects to mitigate risks associated with heavy asset investments [8] - The company prioritizes projects in high foot traffic areas with secure funding, collaborating with governments and enterprises to leverage its technology and operational capabilities [8] - Liard expresses confidence in the vast potential of the cultural tourism market in China, estimating it to be worth trillions, with opportunities for long-term growth due to its creative design and technological integration advantages [8]