 Good morning, ladies and gentlemen. I'm Paul from AUO. It's my great honor to be here to share with you what I know about display, the technologies, presence, and future. History is the best way to learn about the past, which also shapes the present and even the future. So to begin with, I will go a little bit into the Chinese history to show you how the evolution of the display technologies can take history as a mirror. Over the past several thousand years, China experienced several territorial change under different dynasty. When a territory was large and rounded in shape, it was generally a time with a greater imperial power. The power will be demonstrated by the empire's impressive economic, medical, and technological development. However, a territory was divided into smaller states. The different states were generally more dynamic, but also weaker in power. A larger state may be more powerful, but it was not always a winner. On the contrary, a smaller state could also live well if it found its way of survival. Romans of the Three Kingdom is one of the four great classic novels in China. A classic quote goes, the empire long divide must unite, long unite must divide. In the competition, the rise and fall of a state was influenced by both internal and external factors. The formal were more subjective in nature, such as the governance, the later were more objective, such as the environment or natural disasters. Come to think of it, the evolution of display technologies also fit this discussion. Display evolution starts from the CRT technologies applied in black and white TV in the early 20th century. In the 90s, we had seen the rise of all sorts of the flat panel display technologies, including PDP, FED, TFTL, CD, OLED, and ePaper. It is fitting to describe it as the first warring state period for flat panel display technologies. Eventually, TFTL, CD became the dominant display technology over the past two decades. It has been widely used for applications from notebook PC to cell phone, desktop PC, TV, and PID. On the other hand, CRT, FED, and PDP gradually became history due to their technical and application barriers. So today, my agenda, we will start from the user's perspective towards the display. In the IoT world, displays are very rare. Displays help carry all sorts of information and are used differently in various types of location and settings. In addition to display for personal and residential use, displays also have been introduced to public spaces, transportation, and smart factories. This year, CRT is the most popular topics centered on applications for TV, VR, and gaming. These applications have one thing in common. That is they all demand a highly immersive and lifelike viewing experience. This will be realized by high-resolution HDR and high refresh rate. 4K resolution has a must-have when consumers replace their TV. Next, TV makers are working to develop even higher 8K resolution. Netflix has launched High Dynamic Range Video Service, which helps to speed up penetration rate in TV. HDR is also extending to smartphone. Major smartphone brands are introducing their features to premium models this year. Motion blur free, the high refresh rate, gaming sense can be shown smoothly with no lag at all. People need a display to function under all sorts of circumstances. For outdoor displays, it is important for them to withstand weather conditions and operate with a high brightness or under a high temperature for a long period of time. Wide temperature operation is a must for automotive applications. For mobile applications, the displays to be readable under the sunlight. They also need to be power saving at the same time. Quality displays need to satisfy the lifecycle of different requirements to avoid premature replacement. This applies to a smartphone with a shorter lifetime, probably two to three years, or a car with over 10 years of lifetime. Climate change isn't just a threat to polar bear or the Arctic. It also has a profound impact on people. The Paris Agreement aimed to keep global temperature rise below two degrees of Celsius within this century and hopefully to control the rise to within 1.5 degrees Celsius. How can we make displays more equal friendly? It would require more power. That can be served when the devices is being used. Manufacturing process can be modified to reduce the impact to the environment. Parts of the devices can be recycled at the end of the life. So this is our belief. TFT LCD will continue to maintain the leading edge. LCD provides true-to-life color performance. By enhancing the color saturation, LCD can bring images colors to reality. As soon as the quantum dot film is used in the display bin light, with an optimized color filter, LCDs can attain a much higher color saturation of NTSC, 110%. This brings more accurate and vivid color performance. In general, people do not watch displays in a total darkness unless they are in a cinema. When audience watch displays in ambient environment, the reflection of light on the screens will reduce the image quality. High contrast ratio is a key feature of a PSA or CD technology. Compared with IPS LCD or OLED, PSA LCD is able to provide superior image quality on the ambient environment. LCD can deliver outstanding picture quality from high dynamic range technology, even in ambient environment. In high ambient light environment, displays are required to present more picture details and what the human eyes can see in the real world. Therefore, it is important to overcome the influence of ambient light. LCD can provide lower ambient light to the reflection and higher brightness to make images more vivid in the bright environment. The underneath was the shootout events by UK TV. According to the rating result for premium HDR TV, PSA LCD with lower light reflection and high ambient contrasts outshine other displays. LCD is a high competitive in premium TVs. Here in terms of the picture quality, currently the super large size LCDs in mass production are over 85 inches. The peak brightness and ambient contrast ratio, it will be a double up of OLED. The color gamut can reach us 110% with the quantum dot. And image planning is less of an issue in the LCD. Furthermore, the light components and the liquid crystal of the LCD have much longer lifetime than organic emitting materials use for OLED. Here is a look back at the TV trends for CS. We can see that the technological innovations of LCD advance continuously and enable brands to introduce new product features every one to two years. New features of LCD TV include immersive picture quality, such as a high resolution, white color gamut, and high dynamic range, as well as a stylish appearance and energy saving. These physical features can add values to product and brands. LCD not only brings new values to brands, but also benefit to consumers. Taking the Black Friday sales in North America as an example, consumers pay 999 for a 42 inch HDTV in 2006. And then 10 years later, for a similar price, consumers could purchase a 65 inch LCD TV with a large size, USD4K higher resolution, better picture quality, and more stylish appearance include slim, bezel, and curved design at only 1099. In the meantime, it would cost more than double the price to purchase a 65 inch OLED TV, but without all the advanced features above. LCDs for automotive applications are becoming more common. Center informative display and digital instrument clusters have gradually become standard equipment in recent years. In addition, head-up display and real-estate entertainment are preferred optional equipment or the top priority on modification. Because of the severe automotive environment, LCDs for automotive need to pass harsh testing conditions. It takes long-term accumulation of technological capabilities and experience to obtain approval from automotive manufacturers which cannot be achieved in a short span of time. Automotive displays require high brightness. It should be more than 1,000 needs. Why operating temperature from minus 30 to plus 100 cells? And long lifetime, 50,000 years, hours. LCD, I hope it's 50,000 years, OK. LCD technology is already capable of meeting the high standard requirements of reliability. LCD for automotive applications will further grow in the future. Mirrorless car is a reflection of automotive for future. Mirrorless system can help in improving fuel efficiency and enhancing driving safety. Automakers are stepping up efforts to use cameras and LCD screens in place of a side view and a rear view mirror. Fast response, LCD can meet the criteria with new liquid crystal materials and new panel driving mode. By using liquid crystal dimming technology, LCD can deliver better anti-glare function than the electric anti-glare real-view mirror. Car buyers nowadays demand stylish interiors with modern features. LCD can provide curved service design with a curvature from 1,000 radius to less than 100 radius and can turn any curved service in a car interior into an active display. LCD structure enables high degree of freedom by combining various components to achieve different features and satisfy diverse applications. Sunlight readable and power saving using defective liquid crystal and memory in piezo in array technology. Touch and display integration reduce the thinness of LCD panel for slim design or more space of battery. Motion blur free improve response time with the new liquid crystal materials and new driving mode designed to enhance the gaming performance for players. High brightness enhance the effectiveness of outdoor and indoor advertisement. In order to provide consumers with a better visual experience, LCD technologies never stop innovation. In terms of the image quality, currently quantum dots are used in LCD backlight to provide a wide color gamut. For the next step, quantum dots will be incorporated into color filter for true-to-life color performance. Using backlight local dimming to achieve the high contrast ratio has reached a mature stage. In the future, dual-cell for piezo dimming technology can be applied to increase the contrast ratio to the level of one medium to one. LCD technologies have a great potential to generate new applications and create new business opportunities. By using color filter-free and polarizer-free technology, the transmittance can be enhanced to over 70%. In addition, when applying AR technology on windshield, it can deliver more information for drivers. Transparent LCD can also be incorporated into interior design or used as a shop windows. The adjustable light transmittance of liquid can be used to control the transmittance of sunlight to replace the traditional sunroof of cars. With the unique characteristics of liquid crystal and special array circuit design, LCD technology can be applied for high-frequency wireless antenna in replacement of traditional car antenna. It will be used for an internet of vehicles in 5G era. Then, beyond TFT-LCD, what other display technologies? OLED owns a self-emissive structure without headlights. Therefore, it's a thin and light. When adopting OLED, the encapsulation glass and array substrate can be replaced by polyimide material. It can match the display even thinner and bendable with fixed curvature. More issues need to be studied and solved for OLED to be made freely bendable and foldable, such as new materials and technologies for flexible manufacturing process. Year improvement costs reduction. Second, supply chain collaborations include battery, print circuit board, and IC innovations. Third, appropriate the business model and price strategy to make the end products more affordable for consumers. So, when will this affordable come out? OLED is a self-emissive and consumes low power on the black background. It is suitable for smartwatch applications, which simply use displays to show information such as time with the heartbeat and email subject. OLED can perfectly present a pure black, integrated with spatial frame design. It is especially fit for luxury and classic style watches, showing elegance of the patient. So, circle design watch is the mainstream in current watch market. With a unique circuit design to reduce the space of luck, the watch becomes even more delicate. Classical watches need slim bezels designed to offer a trendy look, suitable for various occasions. AUO is not only the world's first supplier to provide true circle OLED panels, but also the first choice of watch brands when they introduce a brand new smartwatch product. Next, micro-LED. Micro-LED has the characteristic of white color gamut, high brightness, fast response, curve, and low power consumption. However, micro-LED is not yet a mature technology for mass production. During manufacturing, bottlenecks still need to be overcome, include mass transfer, faster inspection, and further cost structure improvement. To achieve successful micro-LED mass production, multi-sectors cooperation and continuous investments are needed between the industry of LED, TFT-LCD, and precision machinery. In the short-term, micro-LED technology may more likely to be applied to large-sized signage and wearable products. In the long-term, it may be possible to be applied on automotive applications. This chart shows the global capacity investments on LCD and OLED are still growing. Until 2023, LCD capacity was still taxed over 90% of the flat panel display capacity area share. As mentioned earlier, so far most applications' requirements can be satisfied by LCD technology. So LCD will continue to innovate and maintain its dominance position in the next few years, or even the decade. LCD is leading in green manufacturing. From this chart, the OLED water consumption and the power consumption is much higher than LCD. Water is 1.3 times, and power is almost double. Then while OLED process changed from rigid to flexible, the consumption of water and power increased further. As an extra critical equipment, I needed it. The wastewater from the LCD process can be recycled after appropriate treatment. But it is hard for OLED to do so due to metal ions on wastewater. It is tough to do further treatment. This will possibly pose a burden to the environment for pollution when the scale of OLED production goes up. LCD has a longer lifetime on the chart. You can compare. It is able to avoid unnecessary poor head replacement. And it is more friendly to the environment with a lower replacement frequency. The structure of LCD can be divided into display panel and bed light module. When the product reaches its end of the life, it is possible to partially replace the bed light module instead of scraping directly. So now come to the conclusion of today's sharing. With all commitments for innovation and R&D, AUO has achieved numerous technological breakthroughs. This graph illustrates AUO's key strengths. What is leading core technologies such as image quality, stylish design, and total solutions by applying these leading technologies, customer requirements for immersive viewing experience, enhanced service life, and great versatility can be satisfied. AUO will continue to enhance its operation efficiency as at the same time we will engage ourselves in constant technological innovations and deepen our collaboration with strategic customers to fortify our long-term competitiveness and the position in value-added product. Over the past decade, AUO has made outstanding achievements in water usage, power consumption, and carbon emissions reduction. So our water intensity is a reduction up to 45% and 90% process water recovery rate. 40% energy use intensity reduction. 62% carbon emissions reduction. And we grant four building for manufacturing fab for LEED certified. So let us recall from the previous pages. TFTL-CD satisfies the high-use visual experience requirements for the premiums TV market, for the automotive market. It also meets the demand for high reliability and durability. TFTL-CD continues to make breakthrough, providing timely solution and affordable luxury performance for fast emerging display applications. In the world stage era of display technology, TFTL-CD will continue to evolve and to sustain its continuing dominance. And it will also continue to be more friendly choice for environment. OLED technology is suitable for small and medium-sized applications, such as mobile VR wearable devices. However, there is a still high risk for display makers to make profit from OLED technology through general business operation model. New technology are trying to enter the market, but lots of the bottlenecks from the supply chain and manufacturing side still need to be solved. Facing the next warring state period of the display technologies, who will emerge as a winner in the new form of a competition? How will display technologies evolve? This is the answer. Survival of the fitness is the main principle in the warring state area. Technologies last only when they find their right positions. If not, they will ultimately disappear. Thank you for your attention. I will end my presentation here. Thank you.