From a glimpse of the "Shangyuan Night" in the Forbidden City to the immersive experience of the car-mounted projection giant screen; From the subversive innovation of cinema projection to the cross-border integration of AI + laser, Guangfeng Technology (688007) has carved the mark of "Chinese innovation" in the field of display technology with a blue laser.

As one of the first listed companies on the Science and Technology Innovation Board, Guangfeng Technology has built a moat covering the entire industrial chain with its original ALPD semiconductor laser light source technology, and continues to drive industry reform with new quality productivity. Recently, Li Yi, founder and chairman of Guangfeng Technology, was interviewed by a reporter from the Securities Times to decode its innovation logic and future picture.

1 From "taming the laser" to defining the standard

Laser display is the art of "taming light", and the core lies in breaking through the application boundary with the underlying technology.

In 2006, Li Yi returned to Shenzhen from Silicon Valley and founded Guangfeng Technology. In the second year, the company's original ALPD technology (advanced laser fluorescence display technology) came out, which excites rare earth materials to generate high-purity trichromatic primary colors through blue lasers, which solves the problems of high cost and serious speckle of traditional three-color lasers, breaks the blockade of peripheral technologies in one fell swoop, and becomes the mainstream technology route of the laser display industry.

After years of development, ALPD technology not only retains the high brightness and wide color gamut of the laser, but also avoids speckle and color edge defects, and has become the only laser display solution in the world that has passed the automotive certification.

Today, Guangfeng Technology is the world's leading supplier of laser core components with original technology and core patents. As of the end of 2024, the company has more than 2,000 authorized patents worldwide, with invention patents accounting for more than half, ranking first in the industry in the number of patent citations, and winning the first patent case on the Science and Technology Innovation Board.

"We have applied for and authorized nearly 3,000 patents around the world for ALPD semiconductor laser light source technology, which is the key for Guangfeng Technology to establish a leading position in the global market." Li Yi emphasized, "ALPD 1.0 to ALPD 5.0 is not an intergenerational upgrade, but is constantly expanding its application boundaries, continuously tapping its technological potential, and making it play an important role in a wider range of fields." ”

From cinema projection to on-board optics, from engineering projection to AR optical machine, today's ALPD technology has penetrated into many subdivisions and has been widely used in automotive, cinema, home, professional display and other fields.

2 Automotive optics opens the second growth curve

Continuous innovation and breakthroughs at the level of technology application are the key breakthroughs on the road to the development of Guangfeng Technology.

With the advantages of ALPD's core technology, such as small size, high brightness, and non-trace display, the company quickly broke the ice in the on-board business within 2 years, and launched the industry's first automotive-grade projection giant screen, the first full-color laser projection lamp and other benchmark solutions, leading the development of the industry.

In December 2023, the launch of the M9 detonated the market, and its 32-inch automotive-grade projection screen became the focus. This curtain provided by Guangfeng Technology as the core device not only passed the seismic and eye protection certification, but also reconstructed the "fourth space" in the car with a life of 20,000 hours and a 100% DCI color gamut.

According to the data, in just 12 months after its launch, the cumulative number of M9 has exceeded 200,000 units, ranking first in the monthly sales of models with more than 500,000 yuan in the Chinese market for 9 consecutive months, driving Guangfeng Technology's on-board optical business to achieve efficient revenue transformation. In the first half of 2024, Guangfeng Technology's automotive optics business achieved revenue of 241 million yuan, of which about 200 million yuan in the second quarter, and 217 million yuan in the third quarter, a new high.

Automotive optics is a testing ground for cross-border integration of technologies. At the 2024 Beijing International Automobile Exhibition, Guangfeng Technology released the world's first ALL-in-ONE all-round laser headlight, which integrates lighting, ground information display, and cinema functions into a single module, reducing costs by more than 30%; The ALPD 5.0 technology can dynamically adjust the brightness and color temperature according to the ambient light, realizing the intelligent adaptation of "transparency during the day and eye protection at night".

As of February 2025, Guangfeng Technology has obtained a total of 11 on-board fixed-point projects, covering multiple scenarios such as laser projection and AR HUD, and its cooperative customers include Huawei, BAIC and other leading brands.

3. The

whole industry chain collaborates to forge new quality productivity

In Pingshan, Shenzhen, the "Guangfeng Chuangzhi Valley" intelligent manufacturing base with a total investment of 2 billion yuan was put into use not long ago. On the first day of the start of the Spring Festival of the Year of the Snake, Guangfeng Technology seized the development opportunity with the attitude of "sprinting at the beginning of the year", and the production lines of the new factory have begun to produce at full capacity, striving to deliver orders from domestic and foreign customers with quality and quantity.

It is reported that after Guangfeng Technology moves into the industrial park, it will further increase the construction of intelligent supply chain, build a leading intelligent manufacturing supply chain system in the industry, and provide strong momentum for the company's second growth curve.

"With the commissioning of Guangfeng Technology's new intelligent manufacturing base 'Guangfeng Chuangzhi Valley' in Pingshan District, Shenzhen, the company's capabilities in the upstream of the industrial chain will be fully released, the intelligent manufacturing system will become more reliable and stable, and the new quality productivity will continue to improve. Together, these three will strengthen the company's leading position in the global market and further strengthen the moat. Li Yi said.

The laser display and lighting industry is one of the strategic emerging industries that the state focuses on supporting, accelerating the cultivation and development. In Li Yi's view, with the support of national and industry policies, more and more domestic enterprises and scientific research institutions have participated in the upstream and downstream fields of the laser industry chain, strengthened the industrial chain, actively realized product research and development and technology iteration, further improved the localization rate of core components, and significantly improved the degree of independent supporting of China's laser display.

According to the "White Paper on the Development of the Global Laser Display Industry Chain and National Regional Competitiveness", from the perspective of the laser display industry chain as a whole, the localization rate of laser display in 2021 is 45%~55%, and it is expected that the localization degree of China's laser display industry is expected to increase to 75%~80% in 3~5 years.

4 From technology leadership to defining the future

During the Spring Festival, the Ping'an Pagoda on Meizhou Island, Putian, Fujian, the birthplace of Mazu, has become a popular landmark for tourists to check in. At night, this historical building is dressed in the light and shadow coat of "AI + laser", dynamically interpreting the historical inheritance of intangible cultural heritage, attracting tourists to stop and take pictures.

The supporter behind this technology is none other than Guangfeng Technology. With the help of a self-developed AI system, the sensor can automatically scan the entire building, accurately capturing even the curvature of the spire of the ancient tower. The system can also command multiple laser equipment at the same time, intelligently reconstruct the light and shadow picture and achieve seamless splicing, ensuring the accuracy of the projection of special-shaped buildings.

When AI meets laser, the combination of the two bursts out with a unique spark of innovation, bringing unprecedented value and experience. In the face of the wave of integration of AI and laser display, Guangfeng Technology is building a strategic ecology of "core technology + core devices + application scenarios", continuously promoting the breakthrough and innovation of laser display technology, accelerating the development of application scenarios and promoting the in-depth industrialization of laser display technology, so as to expand and strengthen the ecology of the laser display industry.

From the perspective of the market, in addition to traditional application fields such as cinema, engineering, business and education, emerging industries such as smart cockpit, intelligent networking, AR, AI, robots, holographography are booming, and gradually becoming a new application development direction of the laser display and lighting industry, the overall scale of the industry continues to expand, and is expected to broaden the application scenarios of semiconductor laser light source technology, and the market explosion potential is great.

According to reports, at present, Guangfeng Technology has applied ALPD semiconductor laser light source technology to traditional applications such as home projection, cinema projection, engineering, business and education, and has entered the field of vehicle optics. Guangfeng Technology has also completed the forward-looking layout in new application fields such as AR, intelligent robots, and aviation displays, and has carried out in-depth cooperation with many well-known brands and institutions around the world.

In addition, the company also takes the lead in undertaking national key R&D projects, and cooperates with 12 units such as the Chinese Academy of Sciences, Beijing Institute of Technology, Zhongda University, and Zhejiang University to promote the development of national laser display technology, jointly promote the development of the laser industry, and create a strong laser industry ecosystem.

With the rapid development of industry technology, opportunities and challenges coexist for Guangfeng Technology. "Guangfeng Technology should increase the breakthrough of core capabilities in the upstream and promote Guangfeng Technology to the upstream of the industrial chain; Then it is to seize the new opportunities brought by the wave of AI, AR and other technologies to create more attractive and competitive products. Li Yi looked forward, "Facing the future, the company is committed to becoming a driver of the display and lighting industry, continuing to promote breakthroughs and innovations in semiconductor laser light source technology, accelerating the development of application scenarios and promoting the in-depth industrialization of laser display technology, and expanding and strengthening the ecology of the laser display and lighting industry." ”

From technological breakthrough to ecological expansion, the growth trajectory of Guangfeng Technology confirms the core logic of new quality productivity - taking technological innovation as the spear and industrial chain synergy as the shield to open up incremental markets in new scenarios. As Li Yi said, "Innovation is a kind of faith." On the track of laser display, Guangfeng Technology is illuminating the road of new quality productivity development with "Chinese brightness".