The latest research report: lead and Chow Ming Technology shared Nace.

Yesterday (5), Riad and Chow Ming technology have accepted institutional research to answer questions raised by investors. Among them, Riad shared the company's fourth quarter business outlook; Zhou Ming technology published its views on trade frictions and the development of small gap market.

Riad: business has improved in the fourth quarter. We are optimistic about the development of every subdivision.

Lyad just disclosed three quarterly reports at the end of last month. For the outlook for the next fourth quarters, Li Nannan, secretary and deputy general manager of the board, said the company's business situation improved in the fourth quarter. First of all, overseas growth has begun to start; in addition, the company's layout of small spacing LED channels, product full coverage and other strategies have gradually revealed its role. Combined with China's overall economic environment and the company's own strategic adjustment, the company's position will enter a healthy growth stage in the next three years. The net profit growth is expected to be between 20%-40%, and the proportion of smart display will gradually increase to more than 50%, with a growth rate of over 30% and a night tour account for less than 25%. Combined with the development of the cultural sector to the "global tourism", we should combine cultural tourism with night tourism economy, take tourism consumption as a guide, combine the technology and products of the company's acoustic and optoelectronic technology, and creative experience and business resources to create new technology and new ideas of tourism. With the expansion of the domestic market and the production of domestic production lines, VR will continue to grow at a rate of more than 40% in the future.

Chau Ming Technology: trade friction has little effect, LED small spacing will achieve rapid development.

As to whether trade friction has an impact on the overseas business of chow Ming technology, Yuan Yuzhu, a representative of Chau Ming Technology securities affairs, said that, in general, the trade war has little effect on the company. The reasons are as follows: first, the LED industry chain is superior to the global industrial chain from upstream chips, middle reaches to downstream applications. Status, especially in the LED space technology and intellectual property rights, Chinese enterprises have an irreplaceable preemptive advantage. The company has ploughed many years in the field of small spacing, and has a high market share in the global market by virtue of technology, brand and talent. Secondly, in terms of manufacturing cost, the company has a good scale effect through continuous intelligent and lean production, and has a cost advantage compared with overseas enterprises.

As for the small spacing field, Yuan Yuzhu pointed out that at present, LED small spacing products are mainly used in the market of security, civil air defense, transportation, energy and other application fields. With the continuous decline of costs and the continuous maturation of solutions, there are two major trends in the development of LED small spacing in the professional display market. First, the application scene in the subdivision area is constantly increasing and the industry space is continuously released; two, the provincial and municipal level districts and counties are constantly sinking and deepening, thus promoting LED small spacing. In professional display market penetration and penetration rate continued to improve. The visualization requirements of core data such as urban operation, production management and system deployment have become the rigid demand of customers, and continuously promote the rapid development of LED small spacing industry.

At the same time, through the company's full market research of various industries, take the security industry as an example, under the historical opportunity of rapid development of safe city, intelligent transportation and public security information construction, the command center's upgrading and transformation operation is rapidly opening. As far as the security field of the security industry is concerned, the public security command centers of major cities in China are still dominated by DLP and LCD splicing screens. The penetration rate of LED small spacing is less than 10%, and the penetration of LED small spacing in the public security field is expected to increase to 50% in the future. There are 34 provincial administrative regions, more than 420 prefecture level cities and more than 2800 districts and counties in the country. It is assumed that all the public security command centers of provincial, prefectural and district levels are equipped with a display screen. According to the size and size of the screen, the purchase standards of LED small spacing display are 4 million yuan, 2 million 500 thousand yuan, 1 million 200 thousand yuan, and LED small spacing. Only in the public security command center, the market size can reach 2 billion 200 million yuan, and the security field can be subdivided into many branches, such as law and order, fire fighting, traffic police, letters and visits, economic investigation, criminal investigation, special police and so on. LED small spacing will only exceed 10 billion yuan in the security industry market. In this way, the overall market space of LED small spacing will be more than 30 billion yuan in many areas of national defense, transportation, energy and military.

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