13 companies including Nationstar, Silan Micro, and Shentianma released performance forecasts

Recently, 13 more LED-related companies have released performance forecasts for the first half of the year. Among them, Ocean King is expected to achieve net profit growth; Wanrun Technology, Lidarxin, and Lianyu Co., Ltd. are expected to see a decline in net profit; Silan Micro, Derun Electronics, Furi Electronics, and Shentianma are expected to turn losses into profits; Visionox, Shenzhen Konka, and Woge Optoelectronics continue to suffer net profits; Starlight Co., Ltd. is expected to turn from profit to loss. Ocean King Ocean King is currently focusing on combining working environment lighting products with the Internet, leveraging the product portfolio advantages of LED products + controller + service platform to provide customers with professional lighting solutions. Ocean King estimates that the net profit attributable to shareholders of listed companies in the first half of the year will be 81 million to 99 million yuan, a year-on-year increase of 87.64% to 129.34%; the non-net profit after deducting is expected to be 61 million to 78 million yuan, a year-on-year increase of 203.82% to 288.50%. The company stated that its performance growth was mainly due to continued focus on its main business, promoting product and technological innovation and improving organizational efficiency. During the reporting period, the company faced challenges in the market environment, adhered to customer demand orientation, strengthened internal management, eliminated waste, and promoted continued enhancement of profitability. Wanrun Technology Wanrun Technology is mainly engaged in LED, semiconductor memory, integrated energy services and advertising media. Among them, the LED business covers midstream packaging and downstream applications, integrating R&D, design, production, sales and construction, and providing mid-to-high-end LED light source devices, lighting applications and engineering services. Wanrun Technology estimates that in the first half of 2025, the net profit attributable to shareholders of listed companies will be 12 million yuan to 18 million yuan, a year-on-year decrease of 37.52% to 58.35%; the non-net profit after deducting non-profit will be 8 million yuan to 12 million yuan, a year-on-year decrease of 14.39% to 42.92%. The decline in performance is mainly due to two aspects: first, the one-time gain from the compensation paid by the original shareholders of the subsidiary in the same period last year; second, the increase in capital demand caused by business expansion, resulting in a year-on-year increase in financial expenses. The company stated that despite the decline in profits, its operating fundamentals remain stable and it will continue to optimize its financial structure and control costs. Rietershin Ridarson's main business covers two major sectors: lighting business and Internet of Things business. Lidarxin predicts that in the first half of 2025, the net profit attributable to shareholders of listed companies will be 67.1193 million yuan to 82.0348 million yuan, a year-on-year decrease of 45% to 55%; the non-net profit after deduction is expected to be 32.3307 million yuan to 45.2629 million yuan, a year-on-year decrease of 65% to 75%. The decline in Ridarson's performance was mainly affected by external factors such as tariff policies and intensified industry competition. The gross profit margin of some products dropped significantly. In addition, the company accelerated the expansion of its base in Thailand in the second quarter, which led to an increase in local materials, labor and management costs, further compressing profit margins. Lidaxin said that in the second half of the year, it will adhere to the strategy of "dual main businesses of brand OEM and dual circulation at home and abroad" and continue to optimize its production capacity layout. Lianyu Shares Lianyu Co., Ltd. focuses on the research and development, production and sales of medium and high-power LED lighting products. During the reporting period, Lianyu Shares estimates that the company's net profit attributable to shareholders of listed companies will be 13.45 million yuan to 17.13 million yuan, a year-on-year decrease of 77.57% to 82.39%; non-net profit after deducting non-profit will be 13.19 million yuan to 16.88 million yuan, a year-on-year decrease of 75% to 80.46%. The company pointed out that the sharp decline in profits is mainly affected by four aspects: First, competition in the lighting industry has intensified and product prices have declined; second, the production capacity of the new base in Zhongshan has not been fully released, and fixed cost amortization has increased; third, investment in the construction of overseas bases has been large, and management costs have increased; fourth, new charging pile and energy storage businesses are still in the investment period and have not yet formed scale returns. Despite this, the company still stated that it will continue to promote intelligent upgrades and global production capacity layout to create a second growth curve. Nationstar Optoelectronics Nationstar Optoelectronics expects to achieve a net profit attributable to shareholders of listed companies of 20 million to 25 million yuan in the first half of 2025; non-net profit after deducting is expected to be 7 million to 13 million yuan. Nationstar Optoelectronics stated that in the first half of the year, due to intensified market competition, falling prices of some products and rising costs of raw materials (precious metals), the company's comprehensive gross profit margin declined. Looking forward to the second half of the year, Nationstar Optoelectronics said that the company will focus on emerging fields such as high-definition displays, smart wearables, and vehicles, promote product structure upgrades, reduce costs and increase efficiency, and enhance competitiveness. It is worth noting that just recently, Nationstar Optoelectronics announced that it plans to raise 981 million yuan to invest in ultra-high-definition display Mini/Micro LED and display module product production and construction projects, optoelectronic sensing and smart health device industrialization construction projects, smart home display and Mini backlight module construction projects, smart vehicle device and application construction projects, Nationstar Optoelectronics R&D laboratory projects, and supplementary working capital. Shilan Wei Silan Micro mainly operates three categories of products: integrated circuits, discrete devices and LEDs. Silan Micro predicts that in the first half of 2025, the company will achieve a net profit attributable to shareholders of listed companies of 235 million yuan to 275 million yuan, turning losses into profits year-on-year; non-net profits after deducting are expected to be 240 million yuan to 280 million yuan, a year-on-year increase of 90.18% to 121.88%. Shilanwei said that the substantial improvement in performance was mainly due to the in-depth advancement of the "x-H2" strategy. The company continued to expand into high-threshold markets such as automobiles, new energy, and industry, and its revenue maintained rapid growth. It is reported that during the reporting period, Silan Integrated's 5- and 6-inch lines, subsidiary Silan Jixin's 8-inch line, and joint-stock company Silan Integrated's 12-inch line all maintained full production capacity. The Chengdu Silan power module packaging line expanded smoothly, and the overall profitability level increased significantly. Derun Electronics
Derun Electronics is mainly engaged in the R&D, manufacturing and sales of electronic connectors and precision components. Its products are widely used in household appliances, computers and peripheral equipment, communications, smartphones, LED lighting, smart cars, new energy vehicles and other fields. Derun Electronics estimates that in the first half of 2025, the company will achieve a net profit attributable to shareholders of listed companies of 50 million to 65 million yuan, turning a loss into a profit year-on-year; deducting non-net profits will be 28 million to 40 million yuan, compared with a loss of 115 million yuan in the same period last year. The company pointed out that the turnaround from losses to profits was mainly due to three aspects: first, the expansion of the main connector business, revenue and profits continued to increase; second, the subsidiary Meta System was no longer included in the consolidated statements, and the profit drag factor was eliminated; third, it increased the collection of accounts receivable, achieved partial debt recovery and recognized non-recurring income of approximately 25 million yuan. Derun Electronics stated that in the future, it will continue to focus on its main business, strengthen management and market expansion, and enhance long-term competitiveness. Furi Electronics
Furi Electronics' main business is smart terminal products such as smartphones. It is also engaged in LED optoelectronics business and trading business. Furi Electronics estimates that during the reporting period, the company will achieve a net profit attributable to the owners of the parent company of 22 million yuan, turning a loss into a profit year-on-year; deducting non-net profit will be 1.5 million yuan, compared with a loss of 136 million yuan in the same period last year. The company stated that the performance improvement was mainly due to the stable orders of the intelligent terminal business, focusing on cooperation with major customers, promoting refined management, and significantly improving gross profit margin; the LED display business achieved a turnaround by expanding overseas markets and optimizing the customer structure. In addition, during the reporting period, the company received a total of approximately 15.77 million yuan in government subsidies, which provided positive support to profits. Shenzhen Tianma
Shenzhen Tianma predicts that in the first half of 2025, the company will achieve a net profit attributable to shareholders of listed companies of 190 million to 220 million yuan, turning losses into profits; and the loss after deducting non-net profits will shrink. During the reporting period, Shenzhen Tianma is expected to achieve a year-on-year growth of approximately 10% in operating income and turn losses into profits. In the second quarter alone, the company expects to achieve revenue growth of approximately 10% month-on-month, and net profit attributable to shareholders of listed companies and net profit after deducting non-recurring gains and losses will continue to steadily improve month-on-month. Shentianma pointed out that during the reporting period, the company's non-consumer display business revenue, including automotive and professional displays (industrial control, medical, smart home, human-computer interaction and other subdivisions), accounted for more than 50% of revenue, growing by more than 25%. On the basis of maintaining the world's leading competitive advantage, business profitability continued to increase. In addition, during the reporting period, the profitability of the company's consumer display business increased significantly year-on-year. Among them, the Wuhan flexible AMOLED production line mobile phone product line maintains a full utilization rate. Combined with comprehensive measures such as technological innovation, solution optimization, and cost reduction, profitability has further improved year-on-year and quarter-on-quarter. At the same time, the company's IT, sports and health and other display business revenue scale and business profitability also achieved year-on-year growth. In addition, in the field of Micro LED, Shentianma has recently successfully lit up 7-inch Micro LED automotive standard products, and exhibited multiple Micro LED automotive display products in the first half of this year, which have the characteristics of high brightness, low reflection, and high transmittance. Visionox
In the first half of 2025, Visionox expects to achieve operating income of approximately 4 billion yuan to 4.2 billion yuan, a year-on-year increase of 1.70% to 6.78%; the net profit and non-net profit loss attributable to shareholders of listed companies will decrease. During the reporting period, Visionox's performance increased compared with the same period last year. The main reasons are as follows: In the first half of 2025, as the prosperity of the downstream consumer electronics industry gradually recovered, the penetration rate of AMOLED markets such as smartphones and smart wearables continued to increase, and the overall demand for OLED panels improved. Focusing on the development strategy and annual operating goals, the company continues to optimize its product structure. At the same time, it improves production efficiency and reduces operating costs by enriching the supply chain system, promoting the localization process of the supply chain, and technological innovation, resulting in a substantial year-on-year increase in product gross profit margin. It is worth noting that Chenxian Optoelectronics, a joint venture owned by Visionox, completed a number of Micro LED business results in the first half of the year, released a number of the latest Micro LED products; built a 4K LED cinema; and reached a cooperation with Haier to jointly promote the widespread application of TFT-based Micro-LED large screens in the commercial display market. Shenzhen Konka
Shenzhen Konka is mainly engaged in the research and development, manufacturing and sales of color TVs, mobile phones, white goods, kitchen and bathroom appliances, water purification series, daily household appliances, LED, set-top boxes and related products. In the first half of 2025, Konka expects net profits and non-net profit losses attributable to shareholders of listed companies to decrease year-on-year. In response to the reasons for the change in performance, Konka said that in the first half of 2025, competition in the industry in which the company's consumer electronics business operates continued to intensify, the launch of new products was slower than expected, and the product structure failed to effectively match the national subsidy policy. At the same time, the cleanup of some non-first-class energy efficiency products resulted in a certain gross profit loss. Although the overall expenses have declined year-on-year, the gross profit has not effectively covered the expenses, and the consumer electronics business is still in a state of loss. During the reporting period, although the company's semiconductor business has made certain breakthroughs in technology research and development, the company's semiconductor business is still in the early stages of industrialization and has not yet achieved large-scale and profitable output. The company's overall semiconductor business is operating at a loss. Woge Optoelectronics
Woge Optoelectronics expects to achieve operating income of 1.15 billion to 1.32 billion yuan in the first half of 2025, a year-on-year increase of 10.36% to 26.68%; it is expected that the net profit and non-net profit attributable to shareholders of listed companies will continue to suffer losses. Information shows that Woge Optoelectronics’ main business is optoelectronic glass finishing business, backlight and display modules, display touch modules, high-end optical film die-cutting, glass-based TGV multi-layer circuit boards and glass optical devices. Woge Optoelectronics said that during the reporting period, the company continued to promote the project verification and mass production process of glass-based circuit boards in the fields of Mini/Micro LED new displays, 5G-A, 6G communications, optical modules (CPO) and semiconductor advanced packaging (GPU). During the reporting period, the company's wholly-owned subsidiary Jiangxi Dehong Display Technology Co., Ltd. produced glass-based circuit boards and display modules that have been officially mass-produced and commercially used in the 2304 partition Mini LED backlight display products; Hubei Tongge Microcircuit Technology Co., Ltd., a wholly-owned subsidiary, is currently conducting sample verification with multiple customers based on its glass-based TGV circuit board products, and achieved revenue of approximately 8 million yuan during the reporting period. During the reporting period, the company continued to strengthen its innovation drive, increase its R&D investment in cutting-edge core new material technologies, and continued to send samples for verification on multiple projects with customers, including the application development of glass-based circuit boards in 5G-A and 6G communication radio frequency devices, CPO optoelectronic co-encapsulation, and chiplet advanced packaging of large computing power chips. It is mainly for next-generation product applications and has huge market application space. Starlight Co., Ltd.
Starlight Co., Ltd. is mainly engaged in LED lighting, UV disinfection, automotive lighting, lithium battery equipment and information system integration. Xingguang Shares predicts that during the reporting period, the company's net profit attributable to shareholders of listed companies will turn from profit to loss; non-net profit will continue to suffer losses. Xingguang Shares pointed out that the main reason for the current period's performance from profit to loss was that the company continued to increase investment in new business layout, which led to a significant increase in related expenses and compressed profit margins. At the same time, non-recurring gains and losses were approximately 4.9 million yuan, mainly from debt restructuring proceeds of Shanghai Nongnongguo Information Technology Co., Ltd. and performance compensation for shareholders of Guangzhou Yuansheng Information Technology Co., Ltd. Although the losses were alleviated, they failed to reverse the overall loss situation.