Liard's 2025 performance forecast: net profit from turning losses into profits exceeds 300 million y

On January 22, Liard released its 2025 annual results forecast, and the company's performance has achieved a significant reversal. It is expected that the net profit range for the whole year will be 300 million yuan to 380 million yuan, and the net profit after deducting non-recurring gains and losses will also reach 220 million yuan to 300 million yuan. Compared with the loss situation in the same period last year, the quality of operations has been steadily improved.

The announcement disclosed that in 2025, Liard officially launched a new round of strategic cycle, establishing the core development direction of embracing AI, leading visual effects, and achieving the second growth curve. Relying on this strategy, the company deeply explores the growth potential of the three core business segments empowered by AI technology, fully releases the differentiated competitive advantages of each business and the collaborative value of group management, and steadily builds an industrial ecosystem of AI+ display + cultural tourism. Closed loop. At present, this strategic transformation has achieved phased results, which not only helps the company achieve profit reversal, but also simultaneously welcomes positive growth in operating income and gross profit margin.

Regarding the core motivation for this significant improvement in net profit, Liard made it clear in the announcement that it mainly benefited from the coordinated efforts of four dimensions: optimization of business strategies, breakthroughs in overseas markets, increased volume of core products and improvement of management efficiency. The details are as follows:

First, the business strategy has achieved a fundamental transformation, from the past development model of scale expansion to value creation as the core, integrating profit goals throughout the entire business process, comprehensively promoting high-quality development, and significantly improving the overall quality and profitability of the project. Second, we have implemented the strategy of increasing the number of overseas market development and internal operation management. Even if we face uncertainties such as tariffs, the company's overseas display business will still achieve growth against the trend by the end of 2025, showing strong market resilience. Third, focusing on the promotion of Micro LED core products, focusing on core overseas markets such as North America, and relying on technological advantages to promote steady growth in order volume, becoming an important support for performance growth. Fourth, deepen the transformation of full-process digital management. At present, the system has fully covered key aspects such as production, sales, supply chain, customer service and internal management. Operating efficiency continues to rise, and cost optimization results are gradually emerging.

In terms of financial data, Liard's net operating cash flow performed brilliantly during the reporting period, reaching approximately 1.1 billion yuan, an increase of nearly 70% over the same period last year, and the health of cash flow has been significantly improved. Non-recurring gains and losses are expected to be 80 million yuan, an increase from 46.45 million yuan in the same period last year, mainly due to the increase in various government subsidies received by the company and the reversal of impairment provisions for receivables. In addition, according to previous public information, Liard has achieved operating income of 5.302 billion yuan and net profit attributable to the parent company of 279 million yuan in the first three quarters of 2025, laying a solid foundation for achieving the annual performance target.

In 2025, Liard will make multiple breakthroughs in technology research and development, product innovation and production capacity layout. On the technical product side, we have successfully achieved short-side mass production, launching a number of innovative products such as creative spherical screens, fantasy art screens, new generation MG-COB cold screens and LiFi optical communications; in the AI application field, we have launched AR smart glasses for the C-end market, and featured products such as LYaiDol AI Babi enrich the product matrix.

The results of overseas market expansion are particularly significant. In 2025, the company's overseas display business revenue accounted for 50.03%, surpassing the domestic market for the first time, marking a new stage in the global layout. Among them, the North American market performed outstandingly, with its brand PLANAR achieving historic orders, while the Asian, African and Latin American markets maintained steady growth. In terms of production capacity layout, the company continues to upgrade its global manufacturing network, European factories steadily expand production capacity, the main structure of Changsha LED Industrial Park has been successfully capped, the construction of the Saudi factory has been advanced as planned, and the Beijing Application Industrial Park (Phase II) project has been officially laid, providing global business expansion. Strong support.

It is worth mentioning that in 2025, Liard will continue to deepen the field of visual effects services for major events, successfully complete the guarantee task of the 93rd Parade, provide support for Tiananmen national-level activities for the sixth time, and provide support for the 15th National Games, Shanghai Cooperation Organization Summit, CCTV Spring Festival Gala and other major domestic and foreign events and events provide professional and high-quality visual effects services, demonstrating the company's leading position in the industry.