Xinruida: Mini LED Q1 revenue accounts for nearly 15% of display modules!

On June 25, Xinruida disclosed the latest research minutes, saying that the company had an early layout in Mini LED technology, had complete mainstream technology routes, and had 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.

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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%.

Mini/Micro display terminals are widely used in command centers, stages, theaters, large studios, exhibition halls, education and conference venues, as well as Yuanverse virtual film and television shooting, AR/VR and other fields due to their better picture quality, more arbitrary sizes and shapes, lighter and thinner appearance, energy saving and long life. The market penetration has accelerated and is known as the next generation of new display technology.

Taking TV applications as an example, Mini LED TVs have a contrast ratio comparable to OLED TVs, and also have advantages in terms of peak brightness, color gamut, clarity, lifespan, yield, cost, etc. These advantages have affected and promoted demand transformation. According to data from CMM, the share of Mini LED products in the online market of Wuyi Color Wire this year was 5.0%, an increase of 3.8 percentage points from the same period last year, and the structural ratio increased by nearly 400%; the offline market share reached 10.2%, an increase of 6.5 percentage points from the same period last year, and has become the absolute new favorite in the market.

In the field of automotive display, compared to OLED, Mini LED display technology has obvious advantages in reliability, cost and life, stability, and ultra-high brightness; compared with traditional LCD panels, Mini LED has obvious advantages in contrast and brightness, avoiding the interference of strong light on the driver. According to DIGITIMES Research, the CAGR of shipments of center consoles above 9″ will be approximately 19.1% from 2021 to 2026. There is a clear trend towards multi-screen and large-screen vehicles, especially in the field of new energy vehicles. 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.

Source: Announcement, micronet, etc.