2) In terms of competitive landscape, China's EL cold light film industry will be fierce in 2025, and competition among enterprises will mainly focus on technological innovation, product differentiation and market expansion. On the one hand, domestic enterprises have increased R&D investment to continuously improve product performance and reduce costs to enhance market competitiveness. On the other hand, international giants are also actively deploying the Chinese market, accelerating the localization process by cooperating with domestic companies or setting up R&D centers. According to industry analysis, the market share of the top 10 companies in China's EL cold light film industry in 2025 reached 60%, of which local companies accounted for half. Taking a domestic enterprise as an example, through cooperation with universities, it has successfully developed a new EL cold light sheet material with independent intellectual property rights. The product performance has reached the international advanced level and its market share has increased year by year.