Display module volume and profit increased, Xinruida's non-net profit increased by 72% in the first half of the year

Xinruida released its 2023 semi-annual report on the evening of August 20. In the first half of 2023, the company achieved revenue of 627 million yuan, a year-on-year increase of 44.56%; net profit attributable to shareholders of listed companies was 87.4949 million yuan, a year-on-year increase of 58.01%; net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 76.4152 million yuan, a year-on-year increase of 72.03%; basic earnings per share was 0.47 yuan/share. The announcement shows that with the accelerated application penetration of Mini LED technology with comparable performance parameter advantages, the increase in scenarios, the strengthening of consumer preferences, and the enlargement of the market scale, the company's long-term R&D investment into technology and market capabilities have been further amplified, reflected in the increase in both volume and profit of display modules, and the company's performance has been strengthened. During the reporting period, the company accelerated product technology innovation and application. As well-known manufacturers launched consumer electronics products equipped with MiniLED display technology, various manufacturers accelerated their follow-up. The company gives full play to the advantages of Mini LED display technology layout being selected into major science and technology projects in Anhui Province as early as possible. It keeps a close eye on industry trends and seizes industry opportunities to comprehensively accelerate the advancement of multi-field and multi-dimensional cooperation projects in Mini LED display technology. On the basis of achieving mass production, the company will increase the allocation and improvement of Mini LED production capacity. The company's postdoctoral workstation has started the development of automotive partitioning backlight algorithm software. In addition, the company has applied for 3 invention patents and 5 utility model patents, of which 8 have been authorized.
In the first half of the year, the company continued to provide customers with product solutions with technical advantages, performance advantages and growth advantages, leading the trend of ultra-light and thin, high color gamut, high dynamic contrast, healthy eye protection and other trends in the new display industry, promoting the development and innovation of display technology, and continuing to create technological highlights and market growth points for customers. In addition, we continue to strengthen communication with automotive display module customers and prepare for introduction. At the same time, we actively promote the construction of fundraising projects and give priority to accelerating investment in key equipment. As an important part of new display backlight devices and R&D projects, optical lens equipment is of great significance to the design of ultra-thin backlight modules. Prioritizing purchase and research is conducive to the overall efficiency and effectiveness of the project. The company organized and implemented the purchase, installation and commissioning of nano-level ultra-precision processing equipment for optical applications, studied the internationally imported mirror spark machining process under microstructure, and realized the imported PLC motor to guarantee the production quality and stability of the injection molding machine.