I. Industry Overview

(I) Definition and Scope
Small and medium-sized LCDs generally refer to liquid crystal display panels of 10.1 inches or smaller. They cover the mainstream size range of 2.4-6.0 inches and dedicated sizes of 1-2.3 inches for wearable devices. With mature manufacturing processes, cost advantages, and stable performance, they are widely used in smartphones, smart wearables, in-vehicle displays, industrial control & medical devices and other fields. Their core technical routes include amorphous silicon (a-Si), low-temperature polysilicon (LTPS), and oxide (IGZO). Among them, LTPS technology has become the core choice for mid-to-high-end products due to its high resolution and low power consumption.

(II) Characteristics of the Development Stage
 In 2025, China's small and medium-sized LCD industry has entered a transition period characterized by "steady scale growth alongside structural optimization". On one hand, the industry as a whole maintains a moderate growth trend, with market scale exceeding the 100 billion yuan mark and shipment volume rising steadily. On the other hand, the industry focus has shifted from mere capacity expansion to technological upgrading and breakthroughs in high-value-added sectors. The penetration rate of high-end technologies such as LTPS continues to rise, and the application structure is tilting toward emerging scenarios such as in-vehicle and wearable devices.