Why does Unilumin Technology rank first in total revenue?

In 2024, against the background of the slowdown in global economic recovery, the growth of the LED display market will not be as expected. According to TrendForce's latest research on "2025 Global LED Display Market Outlook and Price and Cost Analysis", affected by weak domestic market demand, the global LED display market will only grow by 2.8% in 2024.

Despite the growth in overseas markets, the overall performance of most LED display manufacturers is still affected by the negative growth of the domestic market, experiencing varying degrees of decline. Judging from the financial reports currently published by listed companies, LED display manufacturers will generally see negative growth in revenue and net profit in 2024. However, there are exceptions in terms of revenue alone, such as Unilumin Technology.

Ranking first in total revenue, Unilumin Technology reaches the top of the LED display market in multiple dimensions

In 2024, Unilumin Technology will achieve total revenue of 7.774 billion yuan, a year-on-year increase of 4.90%. Looking at the disclosed financial reports of listed companies with LED displays, Unilumin Technology’s total revenue ranks first in the industry.

Focusing on its main business, Unilumin Technology’s LED display business achieved revenue of 7.19 billion yuan in 2024, a year-on-year increase of 7.5%, ranking first among listed companies for two consecutive years. In terms of shipment area, Unilumin Technology's LED display shipment area exceeded 820,800 square meters in 2024, a year-on-year increase of 9.51%, and continues to rank first among listed LED display companies in terms of shipment area.

Looking at the revenue structure by market, Unilumin Technology will achieve revenue of 4.777 billion yuan in overseas markets in 2024, a year-on-year increase of 18.33%. It is worth noting that with the global LED display overseas market growing faster than the domestic market, Unilumin Technology’s overseas revenue share further increased to 61.45%, driving it to achieve a comprehensive gross profit margin of 29.11%, a year-on-year increase of 1.09 percentage points.

In terms of application, Unilumin Technology also performs well in the emerging application fields of LED displays. Although specific data is not disclosed in the financial report, according to TrendForce Research, Unilumin Technology ranks among the top in terms of market share in both the xR virtual shooting and rental screen markets.

Generally speaking, among the ranks of listed LED display companies, Unilumin Technology has led the market in multiple dimensions.

Behind the rise to the top, Unilumin Technology has gained insights and forward-looking layout

Observing the layout of Unilumin Technology in recent years, it is not difficult to find that the reason behind the multi-dimensional rise to the top lies in its keen insight and precise judgment on industry development trends, its ability to respond quickly, and its efficient execution to the end.

At the technical level, MLED and AI technology have injected new vitality into the LED display industry and brought new development opportunities. Looking at the current growth momentum of the LED display market, TrendForce estimates that ≤P2.5 LED small-pitch displays are the main driving force for current and future market growth, with a compound growth rate of 10% expected from 2023 to 2028. The continuous maturation of COB and MiP technologies, as well as the continuous expansion of production capacity, are driving the price of ultra-fine-pitch LED displays to decline year by year, increasing the proportion of market demand, and will continue to promote the growth of LED display output value in the future.

Facing new opportunities in the market, Unilumin Technology promotes the parallel technical routes of COB and MiP. Among them, Unilumin Technology invested in the construction of a semiconductor-grade MiP packaging and testing production line and has successfully achieved mass production of MiP 0202 lamp beads. In terms of performance, Unilumin Technology's MLED display sales will double in 2024, and the share of COB and MiP in the display business has reached 13%-15%. In 2025, the internal share is expected to increase to 25%-30%. At the same time, Unilumin Technology also took the lead in launching industry-first products such as small-pitch LED texture screens and MiP holographic invisible displays last year.

In terms of technology integration, Unilumin Technology took the lead in sounding the clarion call of "LED + AI" and launched an integrated solution of "content + AI + hardware + interaction" and is currently promoting a number of technological breakthroughs.

At the application scenario level, Unilumin Technology maintains global competitive advantages in emerging application scenarios of LED display screens such as xR virtual production, naked-eye 3D content, movie screens, conference all-in-one machines, and rental screens with its optical display technology ecosystem.

Take the movie screen market, which has hit a new high this year, as an example. According to LEDinside’s observation, Unilumin Technology’s movie screen products have been launched in Beijing-China Film International Cinemas (CFGC), Hubei Wuhan-VFC Xingyi Cinema (STARX), Xinjiang-Hong Kong Star Cinema, Hainan Sanya-Xingyue Cinema, Chengdu-Emperor Cinema, Nanjing-Xinjiekou International Cinema (the world’s first sound-transparent LED display), and successful cases are growing year by year. It is worth mentioning that its cinema screen based on MiP technology has passed DCI-P3 certification.

The rental screen market has also shown strong growth momentum. According to TrendForce Consulting analysis, live events (concerts, election events, etc.) have driven rental market demand. The LED display rental market size is expected to reach US$1.596 billion in 2024, a year-on-year increase of 13%, and will continue to grow in the future. In this application field, Unilumin Technology has served six Olympic Games, participated in the construction of four World Expos, and provided LED visual effects solutions for international performance stages many times. Currently, Unilumin Technology also occupies the largest share in the rental screen market.

At the same time, Unilumin Technology is expanding its boundaries through "LED + AI". In addition to building a platform, it also innovatively launches AI light castle boxes, holographic cabinet all-in-one machines and LED display robots, as well as AI holographic companion assistants, AI interactive digital fish tanks and other products for the B-end and C-end.

At the market level, Unilumin Technology has focused on the growth engine of "overseas markets". On the one hand, it penetrates mid-to-high-end markets such as Europe and the United States through Radioo (high-end rental, xR virtual production), and on the other hand, continues to expand mid-to-low-end markets such as Asia, Africa and Latin America, carries out hierarchical marketing networks and localization layouts, expands more agents and distributors, deepens brand building and marketing network layout, and further improves market competitiveness. In 2024, Unilumin Technology’s overseas revenue will grow significantly, especially in Asia and Africa.

Obviously, from technology, application to market, Unilumin Technology has taken the lead in understanding industry trends, and has gained first-mover advantages in emerging markets with its foresight and rapid response.

With strong integration capabilities as a shield, Unilumin Technology meets new challenges of competition and upgrading

In the LED+AI era, competition between enterprises is no longer a competition for a single technology, product or solution, but a competition for comprehensive capabilities brought about by multi-dimensional upgrades of products, solutions and content services, and Unilumin Technology is already well prepared to face the challenge.

At the operational level, Unilumin Technology has gradually established its brand influence and built a Unilumin lighting ecology through multi-brand collaboration in LED display and lighting. In terms of display brands, Unilumin Technology has three brand echelons: "Unilumin", "ROE" and "LAMPRO". The ROE brand focuses on overseas high-end rental and xR virtual shooting products, Unilumin mainly focuses on domestic and foreign mid-to-high-end LED display products + solutions for all application scenarios, and the LAMPRO brand focuses on domestic and foreign cost-effective circulation products. In terms of lighting brands, Unilumin Lighting (street lights, tunnel lights, smart light poles, etc.), Dongguan Aijia VF (indoor high-end lighting), and China Beidou Star (sports lighting) form the Unilumin lighting product matrix.

In terms of technical layout, Unilumin Technology continues to make efforts in the field of Micro LED technology. Through independent research and development, strategic investment and resource integration, it has built a complete industrial chain layout from independent design of Micro LED lamp beads, collaborative design of Micro IC, semiconductor-level device packaging and testing to intelligent product manufacturing, in order to enhance its comprehensive strength in the field of Micro LED technology.

On the basis of consolidating and strengthening the basic LED display base, Unilumin Technology has also successfully integrated LED hardware with content, software and services. For example, it won the bid for key projects such as CCTV Headquarters in the field of 8K content production, forming a generational advantage over competing COB products. In 2025, Unilumin Technology will take "LED + AI" as its core strategy, focus on the three major directions of localization, intelligence, and security, and make a number of technological development breakthroughs to build a complete technology ecosystem covering hardware, algorithms, interaction, and security.

It can be seen that Unilumin Technology has excellent integration capabilities in brand building and technology layout. It said it will be based on optical display hardware, with the sales channel brand as the core, the UniAIoT software platform and display control system as the starting point, and AI as the engine. Through integrated innovation and continuous optimization, it will empower various application scenarios in various industries.

Summary

In 2024, Unilumin Technology delivered a relatively eye-catching report card. The performance growth is inseparable from its accurate judgment of industry trends and its successful positioning in emerging markets. In the future of upgrading challenges, Unilumin Technology is expected to maintain its first-mover advantage and achieve steady progress by relying on gradually higher comprehensive competition barriers. However, the market structure is not unchanged, especially as the uncertainty of the market environment continues to increase, any party may "overtake", and the development trends of other manufacturers in the future will also attract much attention. (Text: LEDinside Janice)

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