Five companies including Unilumin and Lehman announced their 2023 results, with net profits more than doubling at most

Recently, Unilumin Technology, Ledman Optoelectronics, Woge Optoelectronics, Optoelectronics, and Minbang Optoelectronics announced their 2023 results. During the reporting period, the LED-related business revenue of the five companies all achieved positive growth.

Unilumin Technology: Micro/Mini LED production capacity reaches 10,000KK/month this year

Thanks to the moderate recovery of the domestic economy and good demand for sports events, entertainment activities, and immersive experiences, Unilumin Technology will achieve revenue of 7.41 billion yuan in 2023, a year-on-year increase of 4.73%; and achieve net profit attributable to the parent company of 144 million yuan, a year-on-year increase of 127.06%.

In terms of gross profit margin, thanks to Unilumin’s years of deep cultivation in the international market, advance channel layout and brand advantages, the added value of the company’s products and solutions has gradually emerged. During the reporting period, Unilumin Technology’s gross profit margin increased to 28.80%.

Unilumin Technology's current businesses include: smart displays based on LED direct display products; smart lighting based on multi-functional smart poles, outdoor lighting and indoor high-end lighting; light display solutions to create innovative applications such as xR virtual shooting; innovative businesses covering 3D digital content, AI digital people, spatial perception and other content.

During the reporting period, the smart display business was the main source of Unilumin Technology’s revenue. This business revenue was 6.686 billion yuan, a year-on-year increase of 4.11%, accounting for 90.22% of the total revenue.

In the smart display business, Unilumin Technology mainly provides customers with professional displays, indoor and outdoor commercial displays, rental displays, creative displays, all-in-one conference machines, modules and other products as well as industry solutions for large and small scenes.

In response to the development trend of Micro/Mini LED, Unilumin Technology has completed Technical breakthroughs in COB and MIP packaging products. During the reporting period, Unilumin released Micro/Mini LED full-scenario products, with point pitch covering P0.3-P4.0; released Unilumin Star Diamond series AM-driven soft screens and other products, covering P0.9 and P1.2 pitch; achieved successful development and module mass production of MIP lamp 0404; completed the delivery of the industry's first COB packaged outdoor advertising all-in-one machine.

In terms of production capacity, Unilumin Technology’s Huizhou Daya Bay intelligent manufacturing base is mainly deployed in the field of smart display. With the commissioning of the second phase production base and the Mini LED project, Unilumin Technology’s total smart display production capacity has reached 20,000KK/month, of which Mini LED production capacity is 3,000KK/month. Micro/Mini LED production capacity is planned to be expanded to 10,000KK/month by the end of 2024 (COB production capacity 4000KK/month, MIP production capacity 6000KK/month).

Ledman Optoelectronics: Sales growth of Micro LED, all-in-one computers, lighting products, etc.

Ledman Optoelectronics will achieve revenue of 1.113 billion yuan in 2023, a year-on-year increase of 2.77%. In 2023, Ledman Optoelectronics achieved total revenue of 721 million yuan in its LED display business, of which the international display business achieved operating income of 411 million yuan; the domestic display business achieved operating income of 310 million yuan.

During the reporting period, Ledman Optoelectronics achieved sales growth of COB Micro LED high-definition displays, creative displays, all-in-one conference machines, LED lighting and other products in domestic and overseas markets.

In the international market, Ledman Optoelectronics continues to vigorously promote the overseas sales of new products such as COB small-pitch large screens, conference all-in-one machines and home giant screens. In addition, Lehman has opened new subsidiaries or offices in Japan, the United States, Dubai, and the Netherlands to further expand its global marketing network; it has also introduced local sales services and talents to improve its overseas engineering support network.

During the reporting period, the comprehensive gross profit margin of Ledman Optoelectronics’ international display business in 2023 was 35.9%, an increase of 2.9 percentage points from the same period last year. The number of new customers increased by nearly 30% year-on-year, with major breakthroughs in the development of new customers in the Asia-Pacific Theater and Key Customer Departments.

In the domestic market, the cumulative application cases of Ledman Optoelectronics' COB Micro LED high-definition display products have exceeded 3,000; the creative display business of subsidiary Kangshuozhan has been implemented in more than 400 projects, covering cultural tourism, exhibitions, transportation hubs, commercial complexes, R virtual shooting, flying theater and other fields of display application demand, Kangshuozhan achieved operating revenue of 129 million in 2023, an increase of 49.32% over the same period last year.

Ledman's smart conference display business continues to increase its proportion of the company's overall revenue. Among them, the sales revenue of domestic smart conference all-in-one products increased by 189.2% compared with the same period last year, and the sales revenue of international smart conference all-in-one products increased by 339.3% compared with the same period last year.

In addition, in the LED lighting business, Ledman Optoelectronics achieved sales revenue of 389 million yuan, an increase of 13.24% over the same period last year.

Wogel Optoelectronics: Accelerate the layout of glass-based Micro/Mini LED business

In 2023, Woge Optoelectronics achieved revenue of 1.814 billion yuan, a year-on-year increase of 29.75%; net profit attributable to the parent company continued to suffer losses.

During the reporting period, Vogel Optoelectronics' revenue increased year-on-year, mainly due to the increase in sales revenue of its optoelectronic display device products. At the same time, during the reporting period, Vogel Optoelectronics accelerated the production capacity construction and market promotion of glass-based Mini LED backlights, accelerated the industrial cooperative development, market promotion and product mass production of glass-based TGV technology in the new generation of Micro/Mini direct display semiconductor new displays and advanced semiconductor packaging carrier board products.

During the reporting period, Woge Optoelectronics’ Micro/Mini LED-related business developed rapidly. In the field of backlight and display modules, Vogel Optoelectronics' glass-based Mini LED backlight products have entered the mass production stage; in the field of glass-based chip board-level packaging carrier boards, Vogel Optoelectronics has jointly released the world's first glass-based TGV Micro LED direct display home display with well-known customers in the industry, and continues to apply TGV in direct display products with many domestic and foreign customers.

In terms of project construction, during the reporting period, Woge Optoelectronics’ annual output of 5 million square meters of glass-based Micro/Mini LED substrate projects has completed the capping of the factory building. The first phase of the fully automated intelligent manufacturing line with an annual output of 1 million square meters of glass substrates has been officially opened in October 2023 and officially put into production. Up to now, the project has entered the early mass production stage, and has launched project cooperation with many well-known customers in the industry. The product terminal applications involve monitors, TVs, vehicles, etc.

In addition, Hubei Tongge Micro is the implementation entity for the application of Wogel Optoelectronics' glass-based TGV technology in the fields of Micro LED new displays and advanced semiconductor packaging carrier materials. During the reporting period, Hubei Tongge Micro has completed the construction of the main factory building for the total production capacity of the chip board-level packaging carrier board project with an annual output of 1 million square meters, and the project is expected to be officially put into mass production in the second half of this year.

Guangpu Co., Ltd.: Overseas LED semiconductor light application business growth

Guangpu Co., Ltd. will achieve revenue of 894 million yuan in 2023, a year-on-year increase of 8.26%; net profit attributable to the parent company will be 89 million yuan, a year-on-year increase of 70.04%.

The main products of Guangpu Co., Ltd. are divided into semiconductor light sensor device packaging and testing products, semiconductor light application products, polymer metal composite materials, etc. Among them, semiconductor light applications include educational lighting, industrial lighting, office lighting, outdoor lighting and other products, as well as air disinfection, logistics cold chain and other surface disinfection solutions.

Polymer metal composite materials include new flexible circuit board products, which can be applied to consumer electronics, Micro/Mini LED, automotive electronics and other fields.

Guangpu's revenue growth in 2023 is mainly due to the company's increased efforts to expand its semiconductor optical application business in overseas markets. During the reporting period, the business achieved sales revenue of 656 million yuan, a year-on-year increase of 13.70%, accounting for 73.33% of the total revenue.

Minbang Optoelectronics: Commercial and special lighting revenue growth

In 2023, Minbang Optoelectronics achieved revenue of 1.529 billion yuan, a year-on-year increase of 4.34%; net profit attributable to the parent company was 230 million yuan, a year-on-year decrease of 6.22%.

The main business of Civil Explosion Optoelectronics covers two major business segments: commercial lighting and industrial lighting. It also expands into special lighting fields such as plant lighting, beauty lighting, explosion-proof lighting and emergency lighting.

During the reporting period, Civil Explosion Optoelectronics achieved revenue of 868 million yuan in the commercial lighting sector, a year-on-year increase of 3.80%; the industrial lighting sector achieved revenue of 578 million yuan, a year-on-year decrease of 0.99%.

The special lighting sector of Minbao Optoelectronics’ new layout achieved revenue of 81 million yuan, a year-on-year increase of 85.85%. Among them, LED plant lighting achieved revenue of 50 million yuan, a year-on-year increase of 145%, and LED emergency lighting fixtures achieved revenue of 27 million yuan, a year-on-year increase of 24.49%.

In 2024, Minbaoguang will seize the opportunity of the rapid development of the lighting industry and lay out a comprehensive development plan with overseas ODM business as the core and domestic independent brands as supplements to further enhance the company's brand status and competitiveness in the lighting industry. (Compiled by LEDinside Irving)

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