[Citic Securities: domestic traditional LED moderate recovery Mini LED open space] "Science and Technology Innovation Board Daily" on the 8th, CITIC Securities Research said that at present, inventory in the LED industry has improved, domestic downstream orders have gradually warmed up, the pressure on the supply of upstream raw materials has been alleviated, at the same time, under profit pressure, various links of the industrial chain have begun to raise prices one after another, and market competition is expected to gradually tend to be benign in the future. The profit end of some downstream manufacturers has taken the lead in improving in the first quarter, and it is expected that profitability repair will gradually transmit to the middle and upper reaches of the industrial chain from the second quarter; in the future, leading manufacturers are expected to benefit from the development opportunities brought about by the Mini/MicroLED field for a long time, and are optimistic about the growth opportunities brought by the follow-up MiniLED to achieve large-scale commercial use.