Mini LED display modules increase both volume and profit. Xinruida’s net profit in the first half of the year is expected to increase by more than 50%;

Jiweiwang News On July 12, Xinruida released a performance forecast stating that from January to June 2023, the company's net profit attributable to shareholders of listed companies was 83.0621 million yuan - 91.3683 million yuan, a year-on-year increase of 50%-65%, and the profit in the same period last year was 55.3747 million yuan.

At the same time, Xinruida expects to achieve a net profit of 73.2912 million yuan to 79.9541 million yuan attributable to shareholders of listed companies from January to June 2023, a year-on-year increase of 65%-80%. The profit in the same period last year was 44.4189 million yuan.

Regarding the reasons for the performance growth, Xinruida said that during the reporting period, with the accelerated penetration of Mini LED technology with comparable performance parameter advantages, the increase in scenarios, the enhancement of consumer preferences, and the expansion of market scale, the company's long-term R&D investment was transformed into further amplification of technology and market capabilities, reflected in the increase in both volume and profit of display modules, which strengthened the company's performance.

It is understood that Xinruida has an early layout in Mini LED technology, has complete mainstream technology routes, and has maintained research and development on multiple projects with many customers for a long time. In 2022, the company's mass-produced MiniLED backlight module products will be the first to be used in the world-renowned company Hisense's ULED product E8H series Mini LED TVs, and occupy a large share of this type of products.

Based on the above accumulated advantages in technology, customers and industry status, as the market further recognizes Mini LED display terminals, the company's customer orders, number of customers and number of projects under development are all growing. In the first quarter of 2023, the company's MiniLED backlight product revenue accounted for nearly 15% of display modules, and the budget completion rate was 132%.

Xinruida said that in 2022, the company's direct display products based on MiniLED technology will show a two-way increase in application fields and the number of customers, and this trend is expected to be maintained this year.