LED factories have gone through a downturn, and as terminal inventory gradually decreases and customer willingness to release orders increases, their performance in 2024 is expected to be better than in 2023. Looking at the legal discussions held by various LED factories, it is confirmed that the trough has passed. Although there was a decrease in working days in the first quarter of 2024, looking at the entire year, manufacturers such as Yiguang, Hongqi, Adison, Tangshan, Liqi, Hongkai, and Huaxing are expected to experience a rebound in operations this year.

Especially in automotive products, including MiniLED backlight, display, sensing and other related needs, with the increasing penetration rate of EV and automotive electronics, including Yiguang and Rongchuang automotive products, there is an opportunity to challenge double-digit growth in 2024; Hongkai Automotive Light Source’s revenue proportion has reached 50%, with November 2023 revenue reaching a new monthly high since May 2022.