Five display companies including Huaxian Optoelectronics, Shenzhen Textile, and Weida announced their 2025 results

Recently, five companies, Huaxian Optoelectronics, Shenzhen Textile, Weida Optoelectronics, Puyang Huicheng, and Nanjing Panda, have successively released their 2025 annual reports. Among them, Huaxian Optoelectronics achieved both revenue and net profit growth, Nanjing Panda's net profit turned losses into profits, while Shenzhen Textile, Puyang Huicheng, and Weida Optoelectronics saw profits decline to varying degrees.

China Display Optoelectronics

In 2025, China Display Optoelectronics recorded revenue of RMB 7.725 billion, a year-on-year increase of 69.8%; profit attributable to parent owners was RMB 139 million, a year-on-year increase of 111.3%.

Information shows that China Display Optoelectronics is the actual holding company of TCL Technology. Its main business includes the manufacturing and sales of flat panel display products such as liquid crystal display (LCD) modules and thin film transistor liquid crystal displays (TFT-LCD) for computers and mobile phones.

During the reporting period, driven by the product diversification strategy and the steady growth of orders from brand customers, Huaxian Optoelectronics' business achieved rapid growth, with total sales reaching 89.1 million pieces, a year-on-year increase of 800.6%, driving the overall turnover to significantly increase by 69.8%, reaching RMB 7.725 billion. However, affected by the implementation of customized product strategies and intensified market competition, as well as the shift in the product mix of commercial display products to smaller sizes and conventional resolution products, the average selling price of the company's products fell 7.0% year-on-year to a unit price of RMB 90.5.

In terms of products, sales of mobile phone modules increased by 72.3% year-on-year to 63.1 million units, with related operating income of approximately 3 billion yuan; sales of tablet modules increased by 167.2% year-on-year, reaching 13.8 million pieces, with related operating income of approximately 2.354 billion yuan; sales of commercial display products increased by more than 4 times year-on-year, reaching 6 million units, with related operating income of approximately 1.770 billion yuan.

Huaxian Optoelectronics stated that during the reporting period, the company successfully expanded its brand customer base through strategic cooperation, promoted the rapid growth of its core business, and achieved economies of scale, significantly reducing unit production costs. Thanks to this, China Display Optoelectronics recorded a gross profit of RMB 375 million, with a gross profit margin of 4.9%, a year-on-year increase of 0.6 percentage points; the profit attributable to owners of the parent company reached RMB 139 million, a year-on-year increase of 111.3%.

Shenzhen Textile

Shenzhen Textile achieved 3.241 billion yuan in 2025, a year-on-year decrease of 2.82%; the net profit attributable to listed shareholders was 68.42 million yuan, a year-on-year decrease of 23.44%.

Shenzhen Textile said that the company will focus on the main business of polarizers in 2025. However, due to the intensified competition in the polarizer market and the limited process capabilities of the company's production line equipment, some high-end OLED polarizer orders are insufficient, and the overall sales of polarizers show a trend of "volume increase and price decrease".

During the reporting period, the company adjusted its product structure and increased the sales proportion of high value-added products. Sales of MNT and OLED mobile phone polarizers increased significantly year-on-year;

In terms of technological innovation, the company has successfully achieved mass production of circularly polarized eye-protecting MNT products, and the key technology research and development project of low-color polarization circular polarizers for fixed-curvature AMOLED has passed the acceptance inspection;

In terms of production capacity, the company has decided to invest in the construction of the Line 8 project to solve the production bottleneck problem faced by Shengbo Optoelectronics. Currently, the project has obtained the land use rights, and all construction work is progressing in an orderly manner.

Weida Optoelectronics

Weida Optoelectronics Company is mainly engaged in the research and development, production and sales of polarizers and optical film materials for LCD displays. The company's polarizers are widely used in industrial control instruments, vehicle displays, smart home displays, 3D glasses, OLED displays and other market fields.

In 2025, the company will achieve operating income of 213 million yuan, a slight decrease of 2.28% from the previous year; net profit attributable to the parent company is -20 million yuan, turning from profit to loss from 33 million yuan in the previous year

Regarding the reasons for the change in performance, Weida Optoelectronics stated that it is mainly due to:

(1) During the reporting period, the company's three-phase polarizing film project was put into operation one after another. The new production lines were in the production capacity ramp-up period during the reporting period. The production capacity has not been fully released. Depreciation, amortization, labor and other costs increased, the unit cost of the product increased, and the selling price of superimposed products fell, resulting in a decrease in gross profit margin and a decrease in gross profit amount;

(2) The product selling price dropped, and the investment project was still in the production capacity ramp-up stage. The unit cost of the product was higher, and the provision for asset impairment losses increased;

(3) In order to maintain its advantages in technological innovation, promote product upgrades and iterations, and expand product application fields, the company continues to increase investment in research and development, and research and development expenses increase.

During the reporting period, the company closely followed its main business strategy, focused on the industrial control electronics and vehicle-mounted display markets, and successfully developed highly weather-resistant polarizers (such as 105℃×1000H, 105℃×500H products) to enhance the import substitution application of high-end products. With polarizer products as the core, it extends to all categories of optical films, and continues to develop differentiated product portfolios suitable for automotive displays and industrial control displays.

With the mature development of production technology and R&D technology, and the gradual release of production capacity after the construction of the company's polarizing film phase III project, the company will continue to delve into the fields of smart meters, vehicle-mounted display modules, industrial control display modules, smart wearable displays and OLED displays.

Puyang Huicheng

Puyang Huicheng's main business is the research and development, production and sales of fine chemicals such as maleic anhydride derivatives and functional material intermediates. Among them, functional material intermediates are mainly used in fields such as organic optoelectronic (OLED) materials.

In 2025, the company will achieve revenue of 1.410 billion yuan, a year-on-year decrease of 0.04%; net profit attributable to shareholders of listed companies is 131 million yuan, a year-on-year decrease of 31.44%.

During the reporting period, the company's maleic anhydride derivatives products achieved sales revenue of 1.020 billion yuan, accounting for 72.31% of operating revenue, with sales volume reaching 94,900 tons, a year-on-year increase of 12.31%; functional material intermediates achieved sales revenue of 268 million yuan, accounting for 19.01% of operating revenue.

In terms of innovation, the company's research and development projects in the fields of OLED functional material intermediates and maleic anhydride derivatives are steadily advancing. By optimizing production processes and developing new products, the company has further consolidated its competitive advantages in technology, quality control and other aspects.

In the future, the company will continue to improve the synthesis process of OLED-related functional material intermediates to reduce production costs, focusing on the development of OLED functional materials, including OLED optoelectronic material intermediates, hole transport materials, hole injection materials, hole blocking materials, electron transport materials, electron injection materials, electron blocking material intermediates and catalyst ligands for material synthesis, organophosphine compounds, etc.

Nanjing Panda

Nanjing Panda's total operating income in 2025 was 2.488 billion yuan, a year-on-year decrease of 5.97%, and the net profit attributable to the parent company was 10.7317 million yuan, turning a loss into a profit.

Nanjing Panda has three main businesses: smart transportation and safe cities, industrial Internet and smart manufacturing, and green service-oriented electronic manufacturing.

Nanjing Panda said that during the reporting period, the company's industrial Internet and intelligent manufacturing revenue decreased compared to the same period last year, mainly due to the fierce competition in the existing market of intelligent manufacturing business and the decline in operating revenue; the operating revenue of smart transportation and safe city decreased compared to the same period last year, mainly due to the transformation and adjustment of power supply and communication business, and the expansion of new customers did not meet expectations; the operating revenue of green service electronics manufacturing decreased compared to the same period last year, mainly due to the decrease in export business orders.

During the reporting period, in the field of intelligent manufacturing, the company focused on expanding its core businesses such as intelligent manufacturing, intelligent warehousing and electronic glass wire, and successfully signed 25 projects with an amount of about 130 million yuan.

In the field of electronic manufacturing services, the company's automotive electronics and related businesses grew rapidly, completing sales of 370 million yuan in the year, an increase of 32% year-on-year. It successfully developed innovative smart products such as AI driving recorders, AI watches, and AI glasses. The annual production and sales volume of various digital products such as smart recording devices and laptops reached 1.21 million units, achieving sales revenue of 380 million yuan. (Jibang Display Collation)

▶ LEDinside’s latest activities, click on the image below to view the latest agenda and register for free

△Click on the image to view the meeting agenda

Please indicate the source when reprinting! For more LED information, please pay attention to the official website (www.ledinside.cn) or search the WeChat public account (LEDinside).