Perspective on the half-year performance of seven LED display companies: Seeking change amid challen

Recently, seven LED display related companies, Guoxing Optoelectronics, Silan Microelectronics, Konka, Tianma Microelectronics, Visionox, Vogel Optoelectronics, and Dazu Laser, have successively disclosed performance forecasts, outlining the diverse performance of the industry in the current complex market environment. This is not only a phased presentation of the company's half-year operating results, but also reflects the development trend of the entire LED display industry under the intertwined influence of technological iteration, market competition and macroeconomic fluctuations. In-depth analysis of these performance data can provide key basis for industry participants and followers to gain insight into future trends and make strategic decisions.

Guoxing Optoelectronics: Transformation amidst difficulties, many challenges

Guoxing Optoelectronics 'estimated net profit in the first half of the year will be only 20 million yuan to 25 million yuan, a sharp drop of 55.55% to 64.44% year-on-year, and net profit deducted from non-profit will fall to 7 million yuan to 13 million yuan, a drop of 63.98%-80.61%. The fierce market competition has put pressure on product prices. The prices of precious metals and other raw materials have risen against the trend. Under the double squeeze, gross profit has dropped sharply, becoming the direct culprit of the decline in performance.

Guoxing Optoelectronics is also actively seeking change, planning to raise more than 900 million yuan in additional funds, pointing to emerging fields such as Mini/Micro LED, covering ultra-high-definition displays, photoelectric sensing, smart home, smart car and other projects. However, the road to transformation is full of thorns. The expansion of emerging businesses requires a lot of upfront investment, and every link from research and development to mass production and market development is full of uncertainty. In the current market, competition for Mini/Micro LED tracks is already fierce. International giants such as Samsung and LG occupy the high-end market with their technology and brand advantages, and many domestic companies are also accelerating their catch-up. How Guoxing Optoelectronics stands out in this competition and achieves the dual goals of technological breakthrough and market share expansion tests the management's strategic vision and execution capabilities.

Slanwei: The integrated strategy has taken effect, and the recovery trend is beginning to show

In contrast to Guoxing Optoelectronics, Slanwei's performance in the first half of the year was outstanding. It is expected that the net profit attributable to the parent company will reach 235 million yuan to 275 million yuan, and the net profit deducted from non-profit will be 240 million yuan to 280 million yuan, successfully turning a deficit into a profit. This is due to its in-depth implementation of the integrated strategy. On the one hand, it continues to launch products that meet the demand of high-threshold markets such as large-scale white electricity, automobiles, and new energy, and its revenue has grown rapidly; on the other hand, its chip production lines and packaging production lines are operating at full capacity, highlighting the scale effect, and the comprehensive gross profit margin of products has been stabilized.

However, Slanwei does not sit back and relax. Despite the progress made in existing markets, the industry's technology iteration is rapid, with new semiconductor materials such as silicon carbide and gallium nitride constantly emerging. If we cannot continue to invest in research and development and keep up with the forefront of technology, existing advantages may be weakened. At the market level, as more and more companies flock to high-threshold markets, competition intensifies, and customers have increasingly stringent requirements on product performance, prices, delivery times, etc., Slanwei needs to continuously optimize supply chain management and production efficiency to respond to potential challenges.

Konka: Deep in the quagmire of losses, the road to transformation is confused

Konka expects net profit for the first half of the year to be-360 million--500 million yuan, and the loss situation is still severe. The consumer electronics business is affected by multiple factors such as industry competition, lag in the launch of new products, mismatch between product structure and national subsidy policy. Gross profit has suffered heavy losses. Even if the cost drops, it is still difficult to conceal the loss trend; the semiconductor business is still in the early stages of industrialization, with large investment and small output, becoming another source of loss.

China Resources has become the actual controller of Konka. Although it has brought imagination space for injecting funds and resources into it, it remains to be seen how to transform potential advantages into actual performance growth. In the field of consumer electronics, the color TV market is approaching saturation. Konka needs to seek breakthroughs in the direction of smart home appliances and smart home ecology to reshape product competitiveness; in terms of semiconductor business, it needs to accelerate the technology research and development and mass production process, improve yield rates, and reduce Costs, achieve large-scale benefits as soon as possible, otherwise it will continue to drag down the company's performance.

Tianma Microelectronics: Optimize business structure, coexist with highlights and challenges

Tianma Microelectronics's revenue in the first half of the year is expected to increase by about 10%, and its parent's net profit will reach 190 million yuan to 220 million yuan, achieving a significant year-on-year growth. This is mainly due to the fact that under its 2 + 1 + N strategic layout, the in-vehicle and dedicated display business accounted for more than 50% of revenue, and the growth rate exceeded 25%. The scale effect drives profit improvement; the IT and sports and health business also achieved revenue and profitability growth, and the first flexible flagship wearable project was successfully mass produced and delivered to top customers.

However, the pressure of competition in the industry has not been alleviated. In the field of in-vehicle displays, not only domestic giants such as BOE and CSOT compete, but also international manufacturers such as Japan's JDI and South Korea's LG Display share the market. With the development of automobile intelligence and networking, the requirements for technical integration, reliability, and display effects for in-vehicle displays continue to rise. Tianma Microelectronics needs to continue to invest in research and development to meet the increasingly stringent needs of automobile companies. In the wearable device display market, product updates are rapid, and consumers 'expectations for display quality, power consumption, and thinness continue to increase. How to maintain a leading position in the rapidly changing market is a long-term issue facing Tianma Microelectronics.

Visionox: Cost control is the key to struggling with recovery in demand

Visionox's revenue in the first half of the year is expected to grow by 1.70%-6.78%, reaching 4 billion yuan to 4.2 billion yuan, but its parent net profit is still in the loss range of-1 billion yuan to-1.176 billion yuan. Benefiting from the rebound in the prosperity of the downstream consumer electronics industry and improving market demand for AMoled, Visionox has increased its gross profit margin by optimizing product structure, enriching supply chains, and promoting technological innovation.

However, the loss situation still highlights its cost pressure. Although AMOLED technology has broad prospects, the production equipment is expensive and the process is complex, making it difficult to improve the yield rate. Visionox needs to further explore the space for cost reduction, optimize production processes, increase equipment utilization, strengthen cooperation with suppliers, and reduce raw material procurement costs. On the market side, it is necessary to strengthen brand building, increase the added value of products, and expand the market share of the mid-to-high-end to cope with fierce market competition and continued cost challenges.

Vog Optoelectronics: Hidden worries behind revenue growth, R & D investment tests long-term benefits

Vog Optoelectronics 'operating income in the first half of the year is expected to reach 1.15 billion yuan to 1.32 billion yuan, achieving a year-on-year growth of 10.36% to 26.68%. This is due to its active expansion of market share and promotion of glass-based circuit boards in Mini/Micro LED, communications, optical modules, advanced semiconductor packaging and other fields. Project verification and mass production. However, the net profit is still-65 million yuan to-45 million yuan, and the non-net profit is deducted-75 million yuan to-53 million yuan.

A large amount of R & D investment is used for product verification and market development, lengthening the return cycle and eroding short-term profits. In the field of emerging technologies, market demand has not yet fully exploded and product standardization is low. Vogel Optoelectronics needs to find a balance between R & D investment and short-term profits. How to accelerate the commercialization process of products and transform technological advantages into market share and profit growth has become the key to determining its future development. At the same time, as competition in the industry intensifies, we need to be vigilant about rapid breakthroughs by competitors in related fields and seize market opportunities.

Big Family Laser: Performance differentiation under the influence of non-recurring profits and losses

Dazu Laser's net profit attributable to its parent company in the first half of the year is expected to be 450 million yuan to 500 million yuan, a year-on-year decrease of 59.18%-63.26%, but net profit deducted from non-profit is expected to increase by 0 - 20%. In the same period last year, the disposal of equity in holding subsidiaries brought huge non-recurring gains, which increased the base, resulting in a decline in net profit attributable to the parent this year. Benefiting from the recovery of the consumer electronics market and AI-driven supply chain demand, the growth of the information industry equipment business has led to an increase in net profit deducted from non-profit.

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