Recently, seven automotive display-related companies, including Crystal Optoelectronics, Huayang Group, NavInfo, Lianchuang Electronics, Juncheng Electronics, Holitech, and O-film, released their performance forecasts for the first half of 2024. Crystal Optoelectronics, Huayang Group, Juncheng Electronics, and O-film achieved net profit and profit, a substantial increase compared with the same period last year. Lianchuang Electronics' revenue increased year-on-year, and net profit decreased to a loss. NavInfo's revenue increased year-on-year, but net profit declined.
Crystal Optoelectronics: Net profit increased significantly, and operating performance reached a new high
Crystal Optoelectronics expects to achieve a net profit of 400 million yuan to 450 million yuan in the first half of 2024, compared with a profit of 177.4192 million yuan in the same period last year, a year-on-year increase of 125.45% to 153.64%; net profit after deducting non-recurring gains and losses was 380 million yuan to 420 million yuan, compared with a profit of 110.6359 million yuan in the same period last year, a year-on-year increase of 243.47% to 279.62%; Basic earnings per share were 0.29 yuan/share – 0.32 yuan/share.
In the first half of the year, Crystal Optoelectronics firmly implemented the business policy of "adjusting the structure and optimizing the layout, reducing expenses and reducing risks, and building endogenous competitiveness", and built internal competitiveness by focusing on strategy, optimizing resource allocation, strengthening internal management and other measures, and actively responded to the complex and changeable market environment. The company seized the opportunity of the gradual recovery of the global consumer electronics industry and the transformation to high-end driven by the AI model, gave full play to the advantages of technological innovation, locked and deeply cultivated high-value projects, continued to optimize the product, market and customer structure, enhanced product competitiveness and profit margins, enhanced the head advantage, and continuously consolidated the fundamentals of the consumer electronics business. At the same time, the remarkable results achieved in reducing costs and increasing efficiency have promoted the company's main business to maintain a good growth trend in the first half of the year, and the net profit attributable to shareholders of listed companies and the net profit after deducting non-recurring gains and losses have achieved a significant year-on-year increase, and the company's operating performance has reached a new high.
Huayang Group: HUD, screen display, LCD instrument, cockpit domain control and other revenues increased significantly
Huayang Group expects to achieve a net profit of 275 million yuan to 295 million yuan in the first half of 2024, and a profit of 181.7202 million yuan in the same period last year, an increase of 51.33%-62.34% over the same period last year; deducted non-net profit of 266 million yuan to 286 million yuan, and made a profit of 168.7384 million yuan in the same period last year, a year-on-year increase of 243.47% to 279.62%; Basic earnings per share was 0.29 yuan/share – 0.32 yuan/share.
The main reasons for the significant increase in net profit in the half year of 2024 compared with the same period last year are:
1. In the first half of 2024, the company's operating income increased significantly compared with the same period of the previous year, of which the sales revenue of cockpit domain control, HUD, screen display, on-board wireless charging, digital acoustics, precision motion mechanism, LCD instrument, on-board camera and other products in the automotive electronics business increased significantly year-on-year, and the sales revenue of automotive intelligence-related parts and optical communication module-related parts in the precision die-casting business increased significantly year-on-year.
2. The scale effect and the improvement effect of the company's management are revealed.
NavInfo: revenue of 1.6 billion to 1.8 billion yuan, net profit loss of 383 million to 295 million yuan
NavInfo expects revenue of 1.6 billion yuan to 1.8 billion yuan in the first half of 2024, compared with 1.6 billion yuan in the same period last year, a year-on-year increase of 6.62%-19.95%; The net profit loss was 383 million yuan to 295 million yuan, compared with a loss of 294 million yuan in the same period last year, a year-on-year decrease of 30.01%-0.01%; deducted the non-net profit loss of 388 million yuan to 303 million yuan, compared with a loss of 296 million yuan in the same period last year, a year-on-year decrease of 31.38%-2.64%; The basic earnings per share loss was 0.1661 yuan/share–0.1277 yuan/share.
During the reporting period, the company firmly focused on the automotive intelligent business, actively captured the opportunities of the automotive intelligent market, and achieved good growth in operating income. In the first half of 2024, the company's operating income will increase year-on-year, with an increase of between 6.62% and 19.95%, and the revenue of Zhiyun compliance business and Zhixin SoC chip business will increase significantly. Entering the second quarter, the company's operating conditions were generally improving, with a year-on-year increase in revenue levels and a year-on-year narrowing of losses in the second quarter.
In the face of the negative impact of fierce industry competition, the company has responded to the challenges by improving the level of refined management, paying more attention to R&D efficiency and output results, reasonably controlling R&D investment, achieving continuous and appropriate reduction of R&D investment, improving supply chain management capabilities and controlling costs during the period. The effect of cost reduction and efficiency improvement has been initially revealed, and the operational efficiency has been continuously improved.
In the future, the company will continue to focus on its main business, focus on its core business areas, provide the ultimate cost-effective product portfolio, continue to innovate products and improve customer service, and firmly implement various measures to reduce costs and increase efficiency, so as to enhance profitability.
Lianchuang Electronics: revenue increased by about 17.40% year-on-year, significantly reducing losses
Lianchuang Electronics expects to achieve a net profit loss of 55 million yuan to 80 million yuan in the first half of 2024, compared with a loss of 279.47 million yuan in the same period last year, a year-on-year increase of 71.37%-80.32%; deducted the non-net profit loss of 89.9354 million yuan - 114.9354 million yuan, the loss of 300.8029 million yuan in the same period of last year, a year-on-year increase of 61.79%-70.10%; The basic earnings per share loss was 0.0515 yuan/share – 0.0749 yuan/share.
Lianchuang Electronics focuses on the development of new optical optoelectronic industries such as optical lenses and image modules, touch display devices, and lays out and cultivates the fields of vehicle display, vehicle lighting, AR/VR and machine vision, and the company's products are widely used in smart terminals, smart cars, smart homes, smart cities and other fields.
In 2024, the company will continue to base itself on its main business, actively explore the market, and promote the growth of business scale and operating performance; Optimize customer structure and product structure, balance market competition and profit margins; Continue to promote technological innovation and increase the added value of products; Strengthen supply chain management and reduce raw material costs. The company has improved its performance from multiple dimensions, gradually improved its financial position, realized the steady development of the company's business in various business segments, and enhanced the company's profitability.
In the first half of 2024, the company's operating income will increase by about 17.40% year-on-year, and its performance will achieve a significant year-on-year loss reduction.
Juncheng Electronics: revenue and profit grew simultaneously
Jiangsu Juncheng Electronic Technology Co., Ltd. expects to achieve a net profit of 52 million yuan to 57 million yuan in the first half of 2024, compared with a profit of 39.1186 million yuan in the same period last year, a year-on-year increase of 32.92%-45.71%; The profit after deducting non-net profit was 51 million yuan to 56 million yuan, and the profit in the same period last year was 39.4231 million yuan, a year-on-year increase of 29.37% to 42.05%.
During the reporting period, the company's net profit increased to a certain extent, which was due to the company's successful expansion of new business areas, the rapid growth of revenue brought by incremental orders, and the company's continuous improvement of R&D capabilities, improvement of operational efficiency, and simultaneous growth of revenue and profit.
Juncheng Electronics focuses on the field of liquid crystal professional display, and its products are mainly distributed in the four non-consumer fields of industrial control, automotive electronics, smart home appliances and medical health. The company is a secondary supplier of automotive LCD products in the field of automotive electronics. At present, the company's products are delivered to major domestic automobile OEMs such as SAIC, Geely Automobile, Changan Automobile, BAIC Motor, Chery Automobile, Dongfeng Motor and other major domestic automobile OEMs through first-tier supplier channels such as Wichier, Visteon (Tianbao Automobile), Tianyouwei and Xintongda.
Holitech: Revenue fell sharply year-on-year
Holitech Technology Co., Ltd. expects to achieve a net profit loss of 990 million yuan to 790 million yuan in the first half of 2024, compared with a loss of 2352.1194 million yuan in the same period last year; The non-net profit loss was 999 million yuan to 799 million yuan, compared with a loss of 2368.0206 million yuan in the same period last year. The basic earnings per share loss was 0.3177 yuan/share to 0.2535 yuan/share.
During the reporting period, the company's net profit loss attributable to shareholders of listed companies was mainly due to the following reasons:
1. During the reporting period, due to the impact of the company's financial difficulties, the lack of working capital to purchase upstream materials led to insufficient capacity utilization of some factories and the inability to ensure the delivery of orders in hand, resulting in a significant decline in the company's product shipments, a significant year-on-year decrease in operating income, and an increase in unit fixed costs.
2. During the reporting period, the company entered litigation procedures due to a large number of debts due to liquidity difficulties, and the accrual of interest, penalty interest or liquidated damages on overdue debts increased, resulting in an increase in the operating loss for the current period compared with the same period last year. At the same time, the litigation matters led to the judicial freezing of some bank accounts, that is, some assets were frozen and sealed, which had a certain impact on the company's production and operation.
It is reported that Holitech is engaged in touch display modules, general displays, flexible circuit boards and e-paper businesses, and its products are widely used in mobile phones, consumer electronics, smart wear, smart retail, smart cars, smart manufacturing and many other fields.
OFILM: The revenue of high value-added products grew rapidly, and the loss was turned into profit
OFILM Group Co., Ltd. expects to achieve a net profit of 36 million to 45 million yuan in the first half of 2024, compared with a loss of 353.6765 million yuan in the same period last year; The non-net profit loss was 900-18 million yuan, compared with a loss of 573.4586 million yuan in the same period last year. Basic earnings per share was 0.0110 yuan/share–0.0138 yuan/share.
The operating performance of the first half of 2024 will turn losses into profits compared with the same period of last year, mainly due to the following reasons: 1. During the reporting period, the company's business order volume increased compared with the same period last year, and the growth of operating income led to a year-on-year increase in net profit. 2. The company adheres to independent innovation to guide the industrialization and upgrading of technology, continues to invest in R&D, strengthens internal management, steadily improves product quality, continuously achieves key technological breakthroughs and product applications, and achieves rapid year-on-year growth in revenue of high value-added products and improves profitability.
It is reported that OFILM has been deeply engaged in the field of optics and optoelectronics for more than 20 years, and has three major business systems of smart phones, smart cars and new fields. The intelligent vehicle business has a deep layout in the fields of intelligent driving, body electronics and intelligent cockpit. In terms of intelligent cockpit, the company has in-depth layout of optical sensors, instrument central control and head-up display (HUD) products inside and outside the cabin.