Video systems such as 8K displays can provide a strong sense of presence and reality due to their extremely high resolution and wide field of view. However, high-resolution displays generally suffer from reduced transmittance, which requires the use of liquid crystals with high transmittance and high stability. In this study, negative dielectric anisotropy liquid crystal compositions with excellent photo-stability, anti-flicker capability, and high transmittance are developed, showing potential for 8K display applications. The stability of different types of negative dielectric anisotropy liquid crystal compounds is assessed under light, and the high photo-stability compounds are obtained. In addition, it is demonstrated that the flicker can be optimized from −17.6 to −47.0 by removing the compounds with a higher ion content and a larger deformation number and adding the compounds with a smaller deformation number in the negative dielectric anisotropy liquid crystal compositions. Combining with the evaluation of the factors affecting the response time, the negative dielectric anisotropy liquid crystal mixed H is designed with improved stability and flicker; thus, the response time was decreased to 9.5 ms, and the optical transmittance was 5.5% higher than that of MAT-09-1284 (for normal) and 3.1% higher than that of BY19-J01A (for 4K).