Research Express | Xi'an Ruilian New Materials Receives Due Diligence from 11 Institutions Including CITIC Securities; OLED Large Screen Penetration Rate Expansion Space Attracts Attention

On March 5th, Xi’an Ruilian New Materials Co., Ltd. (hereinafter referred to as “Xi’an Ruilian”) held a targeted investor research event, attracting 11 institutions including CITIC Securities, CITIC Asset Management, Huatai-PineBridge Fund, and others. The company’s Vice General Manager, Chief Accountant, and Board Secretary Wang Yinbin engaged in in-depth discussions with institutional investors on topics such as business layout, industry trends, and future strategies. Key topics of focus included the logic behind the increasing penetration rate of large-screen OLEDs and the advantages of deuterated materials.

Basic Information of the Research

Key Topics Overview

Transition of Oji Paper China Factory: From “Processing on Demand” to “Integrated Production, R&D, and Sales”

Regarding the operation of Oji Paper China’s factory, Wang Yinbin explained that Oji Electronics was originally a processing-on-demand company, with procurement, sales, and R&D led by its Japanese parent company. Since Xi’an Ruilian’s investment, Oji Japan has gradually shifted its main sales operations in China to Oji Electronics, promoting its transformation into a comprehensive enterprise integrating production, R&D, and sales.

OLED Large-Screen Penetration: Improving Yield Rates and Major Manufacturers’ Investment to Drive Growth

On the logic behind increasing penetration of OLED large and medium-sized screens, Wang Yinbin analyzed that the current penetration rate of large OLED panels is relatively low, mainly due to early-stage yield issues, higher prices, and the continuous optimization of LCD display performance. However, as OLED yield rates improve, leading panel manufacturers like Samsung and BOE are investing in large-scale OLED production lines, which will boost manufacturers’ willingness to promote OLEDs, and penetration rates are expected to rise significantly in the future.

Core Advantages of Deuterated Materials: Extending Lifespan and Enhancing Display Performance

When asked about the core advantages of deuterated materials, Wang Yinbin stated that these materials can effectively extend the lifespan of blue light materials and improve the display performance and efficiency of green and red light. Currently, they are widely used in medium and large-sized screens and high-end smartphones, making them a key material the company is strategically focusing on.

Company Positioning and Business Synergy: Cross-Field Layout of a Chemical Synthesis Platform Company

Xi’an Ruilian positions itself as a chemical synthesis platform company, with core capabilities in chemical synthesis across display materials, pharmaceuticals, and electronic materials. Wang Yinbin pointed out that different business segments are essentially different molecular structures, with some R&D results applicable across segments. The product portfolio has expanded from small molecules to medium and large molecules, including transaminases and amino acids.

Short-term and Long-term Strategies: Focus on OLED and Electronic Materials, Long-term Expansion into Pharmaceuticals

The company’s short-term strategy concentrates on OLED and electronic materials, which have high growth certainty; long-term, it aims to strengthen its pharmaceutical segment on the basis of existing electronic and OLED businesses. Despite the long R&D cycles and intense industry competition in pharmaceuticals, the long-term potential of innovative drug pipelines is viewed positively.

Customer Structure in Electronic Materials: Strong Domestic Customer Growth Expected

Regarding the customer structure in electronic materials, Wang Yinbin revealed that currently, foreign clients still account for a large proportion, but domestic customer growth potential is greater, especially in the semiconductor monomer materials sector, where rapid development of the domestic semiconductor industry will generate substantial demand.

Mini LED vs. OLED Competition: Mini LED Delays LCD Exit but Cannot Replace OLED

On whether Mini LED will delay OLED penetration, Wang Yinbin believed that Mini LED and similar technologies mainly improve LCD display performance, delaying their market exit, but cannot fully replace OLED. Leading manufacturers like Samsung and BOE have invested hundreds of billions in 8.6-generation OLED lines, demonstrating strong confidence in the OLED industry. The company will also follow major players’ lead and increase its OLED investments.

Industry Background and Company Opportunities

Wang Yinbin mentioned that domestic display panel companies are continuously increasing their share in the global market, and upstream domestic display material companies have further growth space. This will create opportunities for Xi’an Ruilian. The company plans to leverage its chemical synthesis platform to continue advancing in OLED, electronic materials, and pharmaceuticals, seizing industry development opportunities.

(Source: Xi’an Ruilian New Materials Co., Ltd. Investor Relations Activity Record)

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