2023 Observation | Big moves in the industry chain, a dynamic overview of 65 Mini LED companies

Entering 2023, Mini LED has further increased the demand for LED chips in terminal applications, and major LED chip manufacturers have increased their deployment of Mini LED.

Sanan Optoelectronics stated in an investor interaction on February 28 that VR products have begun to use Mini/Micro LED solutions, and the company's overall Mini/Micro LED sales are continuing to grow. It is also reported that Sanan Optoelectronics’ 7.9 billion yuan fixed increase has been implemented, of which 6.9 billion yuan will be used for the Hubei Sanan Optoelectronics Mini/Micro display industrialization project.

Zhaochi Co., Ltd. pointed out that the company has laid out two aspects of Mini LED backlight and Mini LED display, and has achieved a vertically integrated layout of the two technical routes during 2022. Mini LED will be the company's LED industry chain business that will focus on developing and expanding production during 2023. According to Zhaochi Co., Ltd., in terms of Mini LED backlight, in the past, Zhaochi Semiconductor’s Mini LED chip + Zhaochi Optoelectronics’ Mini LED packaging solution were used. This year, we will launch a Mini LED complete TV solution to existing customers to promote the market penetration of Mini LED TVs as soon as possible and achieve a vertically integrated layout from chips, packaging to complete TVs on the Mini LED backlight technology side. existIn terms of Mini LED display, it operates in the mode of Mini RGB chip + Mini LED direct display screen, and has achieved a vertically integrated layout of "from chip to screen".

In the view of Huacan Optoelectronics, Micro LED and Mini LED will coexist to a large extent in the future market. The application fields of Mini LED and Micro LED depend more on the pitch size of LED products. Micro LED is more used in point pitches below 1.0. But on some products, there may be smaller areas of overlap.

Jufei Optoelectronics said in a recent investor survey that the company’s Mini LED products are mainly used in application terminals such as TVs, e-sports, notebook computers, displays and automotive electronics. The company’s Mini LED business is progressing smoothly, with shipments increasing month by month. At present, the overall penetration rate of Mini LED products is low, and the market capacity will gradually expand in the future.

Deng Hanqing, deputy general manager of Absen's strategic marketing system, expressed that he is very optimistic about the prospects of Mini LED. At the same time, Absen has formulated an "indoor small spacing" COB strategy to respond to the development trend. In 2023, the high-end CLE series of products will be upgraded and optimized.

Leyard pointed out that Mini LED still has market space as a transitional product. In order to supplement the display product categories, the company will launch Min LED according to market demand.iFlip COB products. It is reported that Leyard's Mini LED product is positioned as a direct display Mini flip-chip COB and has now entered the mass production stage.

As Mini LED technology gradually matures and costs decrease, terminal manufacturers have introduced Mini LED products one after another, and the commercialization of Mini LED has accelerated.

Looking to the future, Unilumin Technology believes that with the advancement of manufacturing processes and technologies and the emergence of scale effects, the company's Mini LED product yield and pass-through rates are constantly improving, and costs are in a natural decline process, which is generally in line with the industry law of approximately 20% annual cost reduction. In the future, cost issues will no longer be the main issue affecting the Mini LED market. At the same time, cost reduction will also accelerate the conversion of effective market demand for Mini LED.

Ruifeng Optoelectronics said in an institutional survey that as companies in the industry continue to optimize products and solutions, further improve product yields and production efficiency, and continue to reduce the cost of Mini LED, it is expected that the overall application market of Mini LED will also enter a new round of penetration into the traditional backlight market in 2023. Among them, large-size display terminals, notebook computers, vehicle applications, and VR products will see certain growth compared with last year.

Industrial Chain Enterprise Main Situation Equipment Xinyichang Xinyichang has developed a product that can be used in MiniIntelligent manufacturing equipment for LED and Micro LED production has been sold in batches. Xinyichang previously predicted that the company's Mini LED die-bonding machine business will grow by 50% in 2022. AMEC's MOCVD equipment has gained a leading edge in the blue-green LED production line in the industrialization of the new generation of Mini LED. Juzi Technology Juzi Technology's Mini LED AOI can realize product appearance defect detection in multiple process steps during the Mini LED backlight process and Mini LED direct display production. It has been used in batches by industry benchmark customers such as BOE. In addition, the company has developed larger screen Mini LED backlight inspection equipment. Glass substrate Leybold High-tech Glass-based Mini LED has established a pilot line Vogel Optoelectronics Jiangxi Dehong glass-based Mini LED substrate project has started construction. The project plans to invest 1.65 billion yuan and will achieve an annual production capacity of 5.24 million square meters of Mini/Micro LED based on glass substrates Corning Corning plans to invest approximately 5.2 billion yuan to develop glass substrates, expand the application of glass substrates in the OLED field, strengthen product development in the LED field, and continue to promote research and development innovation to expand applications in new generation display LED, Mini LED and other fields. Dongxu Optoelectronics currently has not invested in a Mini LED glass substrate production line, but the company's glass products can be applied to Mini LED display technology. PCB Pengding Holdings' Mini LED backlight panels are currently mainly targeted at brand customers in the field of mobile products such as tablets and laptops, and are exploring other application areas such as vehicle displays.

The production capacity of this product is currently 93,000 square meters per month. Dongshan Precision acquired Suzhou Jingduan, a subsidiary of JDI, to help the company's automotive display business. It combines the original touch module technology with display technology, and gives full play to the internal synergy with soft boards, hard boards, and structural parts with the support of Mini LED technology to make up for the shortcomings of the automotive new energy strategy. Jianding Technology Jianding Technology continues to invest in technological transformation of equipment related to the high-end HDI field and projects such as intelligent manufacturing and green manufacturing, and further expands production capacity. Shennan Circuit plans to invest 1 billion yuan in its subsidiary Guangzhou Guangxin to expand its market space LED chip Sanan Optoelectronics Sanan Optoelectronics completed a private placement of 7.9 billion yuan in December last year to invest in the Mini/Micro display industrialization of Hubei Sanan Optoelectronics Co., Ltd. and to supplement working capital. At present, VR products have begun to adopt Mini/Micro LED solutions, and the company's overall Mini/Micro LED sales are continuing to grow. Huacan Optoelectronics is one of the first leading companies to develop and mass-produce Mini LED chips. Huacan Mini LED chips have entered the supply chain of major terminal manufacturers such as Innolux and BOE. Mini LED RGB chip products have been used in many key projects of mainstream Mini LED terminal manufacturers.; Mini LED backlight chips have been used in terminal products such as smart screens, TVs, laptops, e-sports monitors, and car central control screen series. Zhaochi Co., Ltd. has laid out two aspects of Mini LED backlight and Mini LED display, and will achieve a vertically integrated layout of the two technical routes during 2022. Mini LED will be the company's LED industry chain business that will focus on developing and expanding production during 2023. Qianzhao Optoelectronics and Hisense Video have become the company’s controlling shareholders. In the field of Mini LED, Dry Lighting's Mini normal-voltage products have been perfectly integrated with terminals and have now entered the stage of large-scale production; Mini high-voltage products have cooperated with industry leaders in continuous improvement and have now formed new profit growth points. Jucan Optoelectronics Jucan Optoelectronics has continuously improved the performance of Mini/Micro LED through continuous investment in research and development. At present, the yield rate of Mini LED has been greatly improved. Jucan Optoelectronics' application for private placement was approved by the China Securities Regulatory Commission on January 31. It plans to raise no more than 1.2 billion yuan for Mini/Micro LED chip research and development and manufacturing expansion. Huachuang Optoelectronics Huachuang Optoelectronics' Mini backlight chip products have covered full-size and full range of terminal products such as laptops, displays, vehicles, etc. Azure lithium core Mini LED has been sold to customers normally, and the company continues to vigorously expand the Mini LED market. Currently, the focus is on Mini LED backlight applications.It is divided into normal voltage 3v and high voltage 6v/9v, etc.; the main application is TV, and cooperative customers include Samsung, Sony, Huawei, BOE, TCL, Hisense, Haier, Kangguan, TPV, etc. Mini LED direct display Leyard Leyard's Mini LED product is positioned as a direct display Mini flip-chip COB, and has now entered the mass production stage. Unilumin Technology's Mini LED product yield rate and pass-through rate are constantly improving. In August 2022, Unilumin UMicro0.4 was released globally. The company's UMicro0.4 product uses an RGB full flip-chip light-emitting chip below 100 microns, with a minimum point pitch of 0.4mm. The product applies Unilumin's characteristic cutting-edge technology in eight dimensions, and has once again achieved major breakthroughs in multiple performance advantages such as low reflection, low moiré, and ultra-black background color. Absen Absen In the field of Mini/Micro LED integrated packaging technology, based on years of technology accumulation, the company's COB product technology solutions have become increasingly mature. The company has actively deployed a new generation of COB packaging technology to solve the problems such as black screen modularity inherent in current COB products, improve display effects, and reduce costs at the same time. Hikvision In 2021, Hikvision and Nationstar Optoelectronics signed an annual strategic cooperation agreement to strengthen cooperation in new products and new fields such as Mini LED display and backlight. Currently, Hikvision is continuing to deploy Mini LED and energy-saving series products to open up new tracks in high-end conference room scenarios. Shanxi Hi-tech COB packaging and testing project plans to investIt will be constructed in two phases with an investment of 6 billion yuan. Once completed, Hi-Tech Group will enter the first camp in the domestic and international Mini LED COB display field. Qiangli Jucai has been deeply involved in the compilation of many industry standard documents such as "Mini LED Indoor Commercial Display". Qiangli Jucai has specially set up a Mini&Micro LED display research institute to increase technology research and development of Mini & Micro LED display products to help it better popularize LED large-scale displays. Alto Electronics At the 2023 ISE exhibition, Alto Electronics not only displayed P0.3 Micro LED products, but also brought a full range of leading products from Mini LED to Micro LED. Backlight board/module/package Mulinsen’s Mini LED has entered the display field. The direct display business is mainly for outdoor large-size displays, and the backlight field is already in the process of business docking. Mulinsen has successfully developed a new Mini LED RGB display module manufacturing technology. Nationstar Optoelectronics' Mini LED includes direct display products and backlight products. At present, direct display products have achieved stable supply. In terms of backlight, the company has formed a complete Mini LED backlight solution to further promote the commercialization of new displays. As the expansion project gradually reaches capacity, the company's Mini product production capacity is expected to further increase. Jufei Optoelectronics Company Automotive LED and MiniLED product production capacity is steadily expanding. The company's Mini LED backlight products have been supplied to customers including TCL CSOT, HKC Huike, etc. Hongli Zhihui's Mini LED products have been mass-produced and applied in many fields such as NB and MNT. Huayinxin The white-light Mini-LED automotive backlight display module independently developed by Huayinxin has been supplied to display panel manufacturing companies in batches. The color gamut (NTSC) of Huayinxin's Mini LED backlight products is greater than 95%, and the process yield rate reaches 99.999%. It has blossomed in various fields of automotive, TV, MNT, PAD, and VR applications, achieving batch delivery. Shenzhen Guoxian Shenzhen Guoxian Technology has successfully developed 15.6-inch and 13.3-inch Mini LED notebook display modules and 12.3-inch Mini LED car display modules and has mass production capabilities. Hanbo High-tech's Mini LED backlight products are the company's key research and development products in recent years. The first Mini LED light panel solid crystal research and development pilot line has successfully entered the mass production stage. After the subsequent Chuzhou Mini LED mass production line is completed and put into production, the company's Mini LED backlight supply capacity will be greatly increased. The current stage of Weishi Electronics’ automotive Mini-LED is still dominated by white LEDs. VR backlight display module products have been applied to meta Oculus series products since 2020. We are currently actively stocking up on next-generation VR display technology. Wanrun Technology Company activelyTo cultivate and develop the Mini LED backlight market, Mini LED has been supplied in small batches. Longli Technology has planned its production capacity in advance of the market and has laid out multiple Mini-LED production lines. Some of them have already achieved mass production. Xinleguang Optoelectronics Technology Xinleguang Optoelectronics Technology plans to invest 500 million yuan, with a first-phase investment of 70 million yuan. It is planned to establish 10 CSP production lines, 40 Mini LED production lines, and 15 SMT production lines. After the project reaches mass production, the annual output value will reach more than 600 million yuan. Longda Electronics Longda Electronics cooperates with Fengjia University to develop white light Mini QD LED display technology. Innolux Innolux is deeply engaged in AM-miniLED display technology, and has added LED chip on board (COB), rollable (Rollabel), new splicing and surface treatment display technologies to achieve seven characteristics. TCL Huarui Lighting On January 11, 2023, TCL Huarui Lighting's LED smart optoelectronics project was successfully closed. The project has a total investment of 800 million yuan and is committed to building an intelligent manufacturing demonstration base and product research and development highland for Mini LED and healthy smart lighting production. Ruifeng Optoelectronics Currently Ruifeng Mini/Micro LED products are introduced into computers, PADs, automobiles and other fields and are delivered in batches. Jinko Electronics Jinko Electronics has launched 10-13 inch Mini LED backlight products. Jinko Electronics is in the automotive industryThe layout of the display area also covers Mini LED RGB display. Jingtai Co., Ltd. Jingtai now has professional R&D and manufacturing capabilities for Mini LED backlight POB solution packaging devices, with a large-scale mass production capacity of 6000KK. It has carried out in-depth cooperation with TCL CSOT, BOE, Hisense and other companies on Mini LED backlight solutions. Dijing Optoelectronics Dijing Optoelectronics has five major production bases. Anhui Dijing invented the technical solution for the high-efficiency and high-precision Mini LED sealing device. Zhaochi Optoelectronics' Mini LED packaging products have entered the supply chain of first-tier brand manufacturers such as Sony, Sharp, TCL, Huawei, Philips, and Titan Legion. Panel BOE has currently built a comprehensive Mini LED layout with COG technology as the core and taking into account various technical solutions such as COB and SMD. It is the first to realize the mass production application of glass-based active Mini LED products. Diversified MLED products are widely used in domestic and foreign first-line brands such as Lenovo, Konka, Skyworth, and Asus. BOE plans to take a controlling stake in Huacan Optoelectronics to achieve efficient integration of the MLED business ecosystem. TCL CSOT TCL CSOT is actively deploying new display technologies such as next-generation Mini LED, Micro LED, flexible OLED, and printed OLED. At CES 2023, TCL Huaxing demonstrated the latest Mini LED display module, which can achieve infinite darkness close to zero nitsHighlights. AU Optronics AU Optronics launched the "Go Premium" and "Go Vertical" dual-axis transformation strategies. Based on the "Go Premium" development strategy, AU Optronics has invested in the development and application of forward-looking display technologies such as Mini LED. In addition to deepening its investment holding cooperation with Fucai, it also announced the expansion of 8.5-generation high-quality production capacity in Houli, Taichung to strengthen its panel production capacity layout. Shentianma Shentianma has been deploying Mini LED for a long time, and is currently mainly targeting the automotive and medium-sized display fields. In March 2022, the latest Mini LED car display product was released - a 12.3-inch directional sound Mini LED car display. Downstream terminal brand Apple In 2021, Apple will introduce Mini-LED technology to its iPad and Macbook products, and Apple’s 27-inch screen equipped with MiniLED backlight has been postponed again. HKC's IPO is expected to raise an amount of 9.5 billion yuan. The main investment projects are Changsha Huike's medium and large-size OLED semiconductor display device R&D and upgrade project, MiniLED direct display and backlight production line expansion project, HKC's smart IoT display solution project, Mianyang Huike's Oxide production and research integration project, supplementary working capital and repayment of bank loans. KTC, a domestic brand that focuses on cost-effectiveness and specializes in the gaming screen market, will launch a series of e-sports screens in 2022, mainly using MiniLED backlight solution. Titan Legion Titan Legion, as a domestic professional e-sports display brand, launched a variety of Mini LED displays including P27A6V, P32A6V, 27A6MR, etc. in 2022, as well as the P27A6S 1-light 1-zone Mini LED flagship e-sports display. Acer Acer will hold a press conference during CES 2023. Its Predator Tomahawk 16/18 can be equipped with a Mini LED display panel with a refresh rate of up to 250Hz. ASUS ASUS's high-end gaming series (Prodigal Eye) new ROG Magic 16 Starry Sky Edition and Magic 16 Flip Edition laptops have been grandly released, both equipped with 16-inch Mini LED displays. Skyworth In February 2021, Skyworth officially released its first Mini LED TV. In October 2022, it released the 288Hz flagship Mini LED TV Skyworth A63. It recently announced that it will launch an outdoor TV Clarus in the first half of 2023, equipped with a Mini LED screen and with a peak brightness of up to 3,000 nits. Skyworth's self-built Wuhan Mini LED Display Technology Industrial Park project is also expected to be delivered in March 2023 and mass production in April 2023. Hisense Hisense integrates ULED and Mini LED and controls Qianzhao Optoelectronics to further strengthen Hisense Vision's strategic layout in the display industry chain and accelerate the research and development of new technologies such as Mini LED and Micro LED.Product promotion. Konka In September 2022, Chongqing Konka Semiconductor Optoelectronics Industrial Park was officially put into production, including projects such as Mini LED backlight mass production lines. Sharp Sharp released its first Mini LED TV in early June 2022. Xiaomi Xiaomi has launched a variety of Mini LED TVs in the past two years and invested in Mini LED driver IC company Huayuan Zhixin. TCL TCL released Mini LED TV, which is the first TV brand to commercialize Mini LED backlight technology.

 It will continue to expand the Mini LED product line in 2022. Now TCL's miniLED technology has been updated to the third generation, which has certain advantages in algorithm and adjustment. Huawei Huawei's smart screen TVs exploded in sales, surpassing Xiaomi and taking the first place. They mainly use Mini LED technology and materials. Philips Philips commercial displays focus on high-quality color performance and user-friendly user experience, and simultaneously launched the professional-grade MiniLED display 27B1U7903, adding another "powerful player" to the B7000 commercial series. Sony Sony will release its latest new TV products in 2023, including the Mini LED backlight TV X95L series, and the full array LED backlight TV X90L series. Samsung Samsung Neo QLED series TVs are equipped with advanced quantum dot Mini LED technology to have richer colors and richer details.and higher contrast, giving users a more immersive visual experience. As a manufacturer that mainly promotes Mini LED TVs, Samsung's Mini LED sales increased last year. LG LG has strengthened its product layout in the Mini/Micro LED field and launched its first Mini LED medical display in November 2022.