From price wars to scenario wars: Structural repair of the LED industry chain.

In the first half of this year, the performance of publicly listed companies in the LED industry chain showed significant divergence: the upstream chip segment is still digesting the pressures of supply-demand imbalance and price competition, with some companies turning from profit to loss; the midstream packaging and general lighting firms exhibited mixed performance; the downstream display application side demonstrated resilience driven by overseas demand, virtual shooting, and new scenarios like AI video. A comprehensive review of semi-annual reports and performance forecasts indicates that the industry as a whole is transitioning from "increased volume and price decline" to a structural repair characteristic, with capacity clearing, technological iteration, and globalization becoming key variables determining the divergence in company performance.