According to the Fangzheng Securities Research Report, the 24Q1TCL Technology (000100.SZ) semiconductor display business achieved operating income of 23.38 billion yuan, an increase of 54.6% over the previous year, and achieved net profit of 540 million yuan, with impressive year-on-year improvement of over 3.34 billion yuan. Q1 shows that demand for terminals is in the traditional low season, and the company's overall operating rate level is low. Since March, the operating rate has rebounded markedly along with the increase in stocking demand. In the future, on the premise that panel prices continue to improve, along with the increase in the company's operating rate, the semiconductor display business is expected to achieve further performance growth. From the demand side, the current trend of large-scale TV screens has been established, and the two major sporting events of the Olympics and the European Cup are approaching at the same time, which may have contributed to TV sales to a certain extent. Due to the continued rise in panel prices and the implementation of the panel factory's “on-demand production” strategy, it is expected that the company's future profitability will show a steady and positive trend, and the rating will be raised to “Highly Recommended”.