Revenue increased by 4.2% year-on-year, and core product differentiation highlights are sufficient!

On August 15, Carlett, a technology leader in the field of LED display, officially released its 2025 semi-annual report. The report data clearly shows the company's operating results and development context in the first half of the year: in a complex market environment, Carlett still achieved steady growth. Not only did the performance differentiation of core products hide highlights, but technological innovation and globalization layout also continued to be implemented, laying a solid foundation for development throughout the year.​

In terms of overall revenue, Carlett achieved operating income of 273 million yuan during the reporting period, an increase of 4.20% over the same period last year, showing strong operating resilience against the background of intensified competition in the industry. Disaggregated by market dimensions, the domestic market, as the core fundamentals, performed particularly well, achieving operating income of 239 million yuan, a year-on-year increase of 5.99%. This growth is not only due to the continuous expansion of domestic downstream application scenarios, but also reflects the company's focus on local market demand. Accurate grasp of market demand; overseas markets achieved operating income of 33.1939 million yuan. Although year-on-year data has not been disclosed yet, combined with subsequent globalization layout dynamics, we can see that the company is actively exploring overseas emerging markets and accumulating potential energy for long-term growth.​

1. Product performance differentiation: The highlights of core categories are outstanding, and multi-line products develop in a coordinated manner

In terms of products, Carlett's product lines showed a trend of increase and decrease, with outstanding highlights. The performance of different categories reflected changes in market demand and the company's product strategy.​

Among them, Media Processing Service equipment has become the core driving force for growth. During the reporting period, revenue was 121 million yuan, a significant increase of 12.96%. The strong performance of this category is closely related to the increase in demand for high-quality Media Processing Service in downstream e-sports, virtual film and television, and high-end commercial displays; The transmitter category also showed high growth potential, with revenue reaching 12.4181 million yuan, a year-on-year surge of 33.27%. With technology upgrades and performance optimization, it quickly seized market share; Cloud Connect Network players and accessories and other categories also maintained steady growth, achieving revenue of 22.448 million yuan and 22.3046 million yuan respectively, a year-on-year increase of 10.78% and 13.56%. The coordinated growth of multi-line products further enriched the company's revenue structure.​

However, the category of receiving cards showed certain fluctuations. During the reporting period, revenue was 94.6129 million yuan, a year-on-year decrease of 10.43%. It is speculated that it may be affected by factors such as short-term market demand adjustments and intensified industry competition. According to sales data, during the reporting period, the sales volume of Carlette receiving cards was 1,346,138, and the sales volume of Media Processing Service was 46,424. The huge sales base not only reflects the company's supply chain position in the industry, but also provides a user base for subsequent product iteration and market penetration.​

2. Performance-driven logic: Four major factors resonate to lay a solid foundation for growth

Regarding the core drivers of performance growth in the first half of the year, Carlett clearly attributed them to four key factors in his report. These four factors are interrelated and work together to jointly promote the company's business improvement.​

First, the external market environment is good: as the application of LED displays in virtual film and television, smart cultural tourism, high-end commerce, sports events and other fields continues to deepen, the market demand for high-quality display and control equipment continues to be released, providing a broad space for sales of Carlett's core products; Secondly, the core development path is effectively promoted: the company focuses on the development line of" technological innovation + scenario adaptation", and continues to optimize products and solutions based on customer needs to ensure a high degree of consistency with market trends; Secondly, the improvement of core product supply capabilities: Through supply chain management optimization and production efficiency improvement, Carlett has ensured a stable supply of core products, especially during the peak season of downstream demand, effectively avoiding the loss of orders due to insufficient production capacity; Finally, the expansion of downstream application scenarios and deepening of cooperation with major customers: The company continues to explore the needs of emerging application scenarios and establishes long-term stable cooperative relationships with major industry customers, which not only improves the market penetration of products, but also enhances the stability of revenue.​

3. Implementation of technological innovation: AI display and control solutions were released, and core new products led industry transformation

Technological innovation has always been Carlett's core starting point to maintain competitiveness. In March this year, Carlett launched AI display and control solutions covering multiple key areas such as ultra-high resolution displays, intelligent conferencing systems, and MLED corrections focusing on industry pain points and future trends. It deeply integrates AI algorithms into display and control technology, aiming to Intelligent upgrades drive technological changes in the industry.​

At the same time, the company has simultaneously released a number of core new products, including the Universe flagship splicer, DS series distributed products, AX series conference screen solutions, etc. Among them, the Universe flagship splicer focuses on ultra-high resolution display scenarios to meet high-end needs such as virtual movies and large venues; the DS series distributed products optimize multi-screen collaboration and remote control capabilities and adapt to scenarios such as smart office and command centers; The AX series conference screen solutions improve the interactive experience and display effect based on corporate conference needs. The launch of these new products has further enriched Kalet's product matrix and consolidated the company's technical advantages in the field of high-end display and control.​

4. Key cooperation and globalization: From virtual film and television bases to international exhibitions, expand market boundaries in multiple dimensions

In terms of technology implementation and market expansion, Carlett had two highlights in the first half of the year worthy of attention. On the one hand, in terms of key cooperation projects, on July 14, the Deqing Bocai AI virtual film and television base jointly built by Kalette and Bocai was officially put into operation. The base's core facilities have a total area of 5000 square meters (about 4 standard basketball courts) The LED virtual studio is simultaneously launched. During the project cooperation process, the two parties jointly overcome many technical problems such as high frame rate, high refresh rate, and color consistency to ensure that the studio can serve film and television creation in the best state. This cooperation is not only an important verification of Carlett's technical strength in the field of virtual film and television, but also laid the foundation for the company to develop a new track in film and television technology.​

On the other hand, in terms of promoting globalization strategies, Carlett made frequent actions in the first half of the year and achieved remarkable results. The company has appeared in many internationally renowned exhibitions such as Infocomm Asia 2025, PALM Expo 2025 India Audio Expo, SMEX2025 Indonesia Audio Expo, NACDA2025 American Inter-School Sports Exhibition and Infocomm USA 2025 American Audiovisual Exhibition. Through the exhibition platform, it displays core products and solutions to global customers and enhances the brand's international popularity; At the same time, the company also actively carries out overseas localized services and training, holding CCE series training in Malaysia and Dubai, and carrying out product training activities in Indonesia, Saudi Arabia and other places, which not only helps local customers better use products, but also provides the company with overseas markets. Establish stable customer relationships and channel networks, paving the way for subsequent overseas business growth.​

Overall, in the first half of 2025, Carlett further consolidated its competitive advantages in the field of LED display and control with steady revenue growth, outstanding core product performance, continuous technological innovation and positive global layout. With the continued implementation of AI display and control solutions in the second half of the year, the in-depth development of overseas markets, and the continuous enrichment of downstream application scenarios, Carlett is expected to continue its growth trend and achieve greater breakthroughs in the wave of digital transformation in the industry.