利亚德(300296) - 2023年2月15日投资者关系活动记录表

Group 1: Industry and Technology Development - The LED industry in China has undergone three technological leaps since the 1990s, with Leyard leading the progress [2] - Leyard launched the first full-color LED screen in 1998, achieving the largest scale in the industry [2] - In 2010, Leyard developed small-pitch LED technology, which has gradually replaced DLP and LCD products in the market [3] - By 2020, the industry saw a breakthrough with the mass production of Micro LED technology, with Leyard establishing a joint venture for Micro LED production [3] - Leyard's Micro LED technology aims to replace traditional display products across various applications, including TVs and mobile devices [3] Group 2: Business Development and Strategy - Since its establishment in 1995, Leyard has focused on R&D, production, and application of LED displays [4] - After going public in 2012, Leyard expanded its business into cultural tourism and virtual reality through horizontal mergers [4] - The revenue share from display business decreased from 100% to around 50% by 2018, but has since recovered to approximately 85% due to advancements in Micro LED technology [4] - In 2022, Leyard initiated a new three-year strategic cycle, focusing on solidifying its smart display business and expanding applications [4] Group 3: Financial Performance and Market Strategy - Leyard's gross margin for overseas business decreased due to a strategic shift in market focus, particularly towards Asia, Africa, and Latin America [5] - The gross margin improved in Q3 2022 due to the production capabilities of the Hunan factory, reducing reliance on outsourcing [5] - Leyard aims to reduce Micro LED costs through various strategies, including improving chip production efficiency and exploring alternative materials [5] Group 4: Future Plans and Market Expansion - Leyard plans to enhance its presence in the cinema market by meeting technical requirements and obtaining DCI certification [6] - The company has received orders for 10 cinema screens and aims to further penetrate the cinema market [6] - Government investment in cultural tourism is expected to focus on enhancing tourist experiences through technology, with projects likely to be smaller in scale compared to previous years [6]