BOE(SZ:000725)2025-07-25 00:40Group 1: LCD Market Trends - The LCD industry is implementing a "demand-driven production" strategy, adjusting production rates based on market demand fluctuations [1] - In Q1 2025, the industry maintained high production rates due to strong export demand and "trade-in" policies, leading to a comprehensive price increase for mainstream LCD TV panel sizes [1] - By July 2025, prices for certain LCD TV sizes experienced a slight decline, while prices for MNT and NB panels remained stable [2] Group 2: Production Capacity and Utilization - The average utilization rate in the LCD industry began to recover in November 2024, remaining high in Q1 2025; however, it decreased in Q2 2025 due to a drop in demand [3] - Panel manufacturers are continuing to adjust production rates in Q3 2025 to align with demand [3] Group 3: Flexible AMOLED Business Development - The company has established a strong position in the flexible AMOLED sector, building capacity and technical advantages while accumulating a solid customer base [4] - The company is actively expanding into automotive and IT applications, aiming to capture market opportunities and meet downstream customer needs [4] Group 4: Future Industry Trends - The trend towards larger sizes in TV products is expected to continue, driving growth in area demand; IT demand is relatively stable with some high-end product trends emerging [5] - The penetration rate of flexible AMOLED products in smartphones is steadily increasing, with further growth anticipated in mid-size IT and automotive applications as technology matures [5] Group 5: MLED Business Progress - The MLED business is a key component of the company's "1+4+N+ecosystem" strategy, focusing on a full industry chain including COB, COG, SMD, and Micro LED technologies [6][7] - The launch of the Zhuhai Crystal Chip COB production line marks a significant advancement in the company's MLED manufacturing capabilities [7] - A joint venture with Shanghai Film Group aims to enhance movie screening experiences through MLED technology [7]