In 2021, numerous leading companies in the Mini LED industry increased their investments in the industrialization of new display and lighting technologies related to Mini/Micro LED. The scope of participation within the industry chain continued to expand, indicating that the development of the Mini/Micro LED sector was entering a fast track. This signaled that the Mini LED industry was on the verge of an explosive growth period. Anticipating this, U-Joy Technology strategically positioned itself in the Mini LED equipment sector to prepare for the impending boom in the Mini LED industry.
According to GGII forecasts, China's LED display market size reached approximately RMB 57.6 billion in 2021, representing an 8.27% year-on-year increase. Companies such as Leyard, Unilumin, Ledman Optoelectronic, AOTO Electronics, and Liantronics disclosed their 2021 annual reports. Financial data from these reports showed that most of these six listed LED display companies achieved double-digit growth in both revenue and net profit in 2021.
As technology and processes matured and costs decreased further, LED displays have made significant inroads into specialized, commercial, and consumer markets. Technologies like small-pitch LEDs, Mini LED displays, and Mini backlights have opened up numerous niche application markets including video surveillance, meeting rooms, commercial use, virtual production, TVs, PDAs, laptops, and gaming monitors, with innovative products continuously emerging.
In the first quarter of 2022, companies such as Nationstar Photonics, Dongshan Precision, Zhaotong Optoelectronics, JingTai, and Jingke Electronics, which produce Mini LEDs, saw substantial growth in their performance. According to GGII forecasts, China's LED display market size is expected to reach RMB 63.5 billion in 2022, marking a 10.24% year-on-year increase.
In the first quarter of 2022, as overseas markets gradually recovered and domestic downstream demand remained strong, there was a significant increase in shipments across the entire LED display industry chain, driving up demand for production equipment such as chips and packaging. U-Joy Technology invested RMB 20 million in 2019 and spent two years developing its Mini LED chip sorter. This device incorporates three core technologies: ultra-high-speed motion control software algorithms, nanometer-precision movement platforms, and AI-powered visual defect detection. These technologies are at the forefront of the industry, positioning U-Joy Technology as a pioneer in the domestic Mini LED chip sorter market and a viable alternative to imported equipment.
Online
Connect