SLC(002106)2024-11-30 14:08Group 1: Company Overview - Shenzhen Laibao High-Tech Co., Ltd. reported a total sales revenue of CNY 5.586 billion for 2023, with notebook computer touch screens accounting for over 85% of total sales revenue [29] - The sales revenue from the automotive touch screen segment, including automotive cover glass and touch screens, accounted for less than 10% of total sales revenue [29] Group 2: Market Trends and Predictions - Global notebook computer shipments are expected to see single-digit growth in 2024 compared to 2023, with a potential increase in sales of notebook touch screens in the second half of 2024 [29] - The automotive touch screen market is anticipated to grow in 2024, driven by the increasing integration of touch screens in vehicles as they evolve towards electrification and intelligence [37] Group 3: Product Development and Technology - The company is focusing on developing high-end commercial notebook computers and two-in-one devices, which are likely to continue using external touch screen structures due to their superior touch performance [33] - The embedded structure touch display products (On Cell/In Cell) are gaining market share, but external capacitive touch screens still hold advantages in terms of performance and customization [35] Group 4: MED Project Insights - The Micro Electric-Chamber Display (MED) project aims to produce color electronic paper displays, with a projected total investment of CNY 9 billion, including CNY 8.3 billion for construction [46] - The MED project is expected to tap into a differentiated blue ocean market, with the global electronic paper display market projected to reach USD 72.3 billion by 2025, growing at an annual rate of over 50% [42] Group 5: Financial and Operational Considerations - The MED project is expected to incur significant expenses before profitability, impacting the company's earnings during the construction phase [49] - The company plans to enhance its production capabilities and product offerings in response to market demands, including the development of new technologies and products [45]