Hehui Optoelectronics AMOLED production line technical transformation sprint ends in the third quarter

Recently, relevant media reported that Hehui Optoelectronics revealed at the 2025 annual shareholder meeting that the company's AMOLED production line technological transformation has entered the final stage and is expected to be fully completed in the third quarter of this year.

The core of this technical transformation is the introduction of double-layer evaporation process production capacity. After the transformation is completed, the company's high-end display product supply capacity will significantly increase.

Founded in 2012, Hehui Optoelectronics is one of the earliest panel manufacturers in China to achieve mass production of AMOLED. After more than ten years of development, Hehui Optoelectronics has built dual technology line production capacity covering hard boards and flexible displays. Its products have penetrated into professional display fields such as folding screen mobile phones, laptops, tablets, vehicle displays, aviation, desktop displays, smart homes, industrial control and medical care, and have recently entered the supply chain of domestic head action camera brands.

According to Hehui Optoelectronics, after the technical transformation is completed, the production line will have large-scale double-layer evaporation process manufacturing capabilities. This technology superimposes two organic evaporation layers and takes advantage of the complementarity of the molecular stability of inorganic materials and the high color gamut characteristics of organic materials. It can more than double the service life of the display screen, save more than 30% of energy compared with traditional products, and greatly improve the brightness performance to meet the needs of outdoor scenes.

Hehui Optoelectronics has taken the lead in launching China's first 14-inch 2.8K laminated OLED blade display in 2024, with a peak brightness of up to 2,500 nits. After the technical transformation is completed in the third quarter, such high-end products are expected to achieve greater mass production in the second half of the year. In addition, the double-layer evaporation technology will also thicken the company's technical reserves in the AMOLED field and improve the overall production efficiency of the production line.

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From the perspective of business structure, Hehui Optoelectronics is accelerating its strategic transformation from traditional small size to medium and large size. At present, tablets and notebook computers have become its main source of income, with shipments firmly ranking at the forefront of the global and Chinese markets, and the revenue from medium and large-sized business accounts for nearly 50%. The company clearly adheres to the strategic direction of medium and large size products.

At the financial level, Hehui Optoelectronics' operating indicators continue to improve. In 2025, the company achieved operating income of 5.501 billion yuan, a year-on-year increase of 10.94%, and a net profit loss attributable to the parent company of 1.972 billion yuan, which was narrower than the previous year. The net cash flow from operating activities for the year reached 639 million yuan, which was significantly positive compared with the previous year's -1.725 billion yuan.

Entering 2026, Hehui Optoelectronics’ loss trend continues but the extent continues to narrow. In the first quarter, the company achieved operating income of 1.223 billion yuan, a year-on-year increase of 1.25%. The net profit loss attributable to the parent company was 470 million yuan, a year-on-year decrease of 7.41%, and the non-net profit loss was 481 million yuan. Net cash flow from operating activities reached 268 million yuan, a significant year-on-year increase of 64.85%.

It is worth noting that Hehui Optoelectronics has recently completed the intergenerational handover of its core management. Tang Junjun, the former chairman of Huahong Semiconductor, has officially taken over as chairman of Hehui Optoelectronics, replacing Fu Wenbiao, who has served for ten years. Tang Junjun once led the listing of Huahong Semiconductor on the Science and Technology Innovation Board and the large-scale cooperation with STMicroelectronics. He has high hopes for his semiconductor manufacturing background.

In terms of capital operation, Hehui Optoelectronics has passed the hearing of the Hong Kong Stock Exchange and obtained the overseas issuance and listing registration from the Securities Regulatory Commission. However, due to the market environment, the valuation was lower than expected, and the company decided to temporarily postpone the Hong Kong stock issuance schedule. It is expected that the listing will continue before October this year. (Source: Compiled by TrendForce Display)

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