At UDC2023, Mini LED and Micro LED became the focus. Ordinary LCD (liquid crystal) screens are very mature, and prices are rebounding from the oversold down cycle. OLED screens continue to expand their penetration rate in the mobile phone market, but due to the constraints of large-scale manufacturing capabilities, they are impacted by the more cost-effective Mini LED backlight LCD TVs in the TV market. In the high-end TV market, Mini LED backlit LCD TVs have become the protagonists, and Micro LED TVs are also making their debut.

The "MLED" display business, including Mini LED backlight (LCD screen), Mini LED direct display and Micro LED display, is regarded as a future growth point by major Chinese panel makers. They are all planning MLED production lines, not only optimistic about the market of MLED display in the large-size field, but also optimistic about the potential of MLED in the fields of smart wearables and vehicle displays.

Behind the abnormal performance of the capital market, it means that a new investment paradigm is being established.

In this regard, GF Securities pointed out in the research report that the appearance of the new global investment paradigm is to embrace "certain assets". The essence of the long-term certainty of the technological innovation cycle is to give a continuous premium to certain assets.

And this is quite consistent with the asset allocation idea of "barbell strategy" proposed by Nicholas Taleb in the book "Antifragility: Benefiting from Uncertainty", that is, investing in a small number of high-yield and high-volatility assets and Most of the low-risk assets with certainty, and give up the inefficient medium-yield investment.