TCL Technology and other 7 companies announced first half results

Recently, seven LED-related companies, TCL Technology, Wanrun Technology, Sunshine Lighting, Yidong Electronics, Ocean King, Jingzhida, and Starlight, announced their results for the first half of 2025. TCL Technology and Ocean King achieved both revenue and net profit growth during the reporting period, with Ocean King achieving a net profit that more than doubled year-on-year. TCL Technology In the first half of the year, TCL Technology achieved revenue of 85.56 billion yuan, a year-on-year increase of 6.65%; net profit attributable to the parent company was 1.883 billion yuan, a year-on-year increase of 89.26%. From the perspective of operating income structure, TCL Technology's semiconductor display business achieved revenue of 57.551 billion yuan, a year-on-year increase of 15.38%, and the gross profit margin was 20.30%; the new energy photovoltaic and other silicon material business achieved revenue of 13.398 billion yuan, a year-on-year decrease of 17.36%, and the gross profit margin was -7.57%; the distribution business achieved revenue of 14.675 billion yuan, a year-on-year increase of 7.51%, and the gross profit margin was 3.38%. In terms of semiconductor display business, TCL Huaxing achieved revenue of 50.429 billion yuan, a year-on-year increase of 14.4%; net profit was 4.316 billion yuan, a year-on-year increase of 74.0%; net profit attributable to TCL Technology shareholders was 2.63 billion yuan, a year-on-year increase of 51%. During the reporting period, TCL CSOT maintained its competitive advantage in the fields of large-size products such as TVs and commercial displays, with a market share of 24%, an increase of 4 percentage points year-on-year. In the field of LCD small and medium-sized products, during the reporting period, monitor sales increased by 18% year-on-year; NB sales increased by 71% year-on-year; vehicle sales increased by 61% year-on-year; mobile phone sales increased by 51% year-on-year; sales in the dedicated display market increased significantly year-on-year. During the reporting period, TCL Technology also completed multiple acquisitions, including the acquisition of 100% equity of LG Display (China) Co., Ltd. and 100% equity of LG Display (Guangzhou) Co., Ltd. The integration was named t11, with a production capacity of 180k/month. In addition, TCL Technology acquired 21.53% equity of Shenzhen Huaxing Optoelectronics Semiconductor Display Technology Co., Ltd. (G11 production line t6, t7) held by Shenzhen Major Industrial Development Phase I Fund. The transaction completed the asset transfer in early July 2025. TCL Technology said that this move will increase the net profit attributable to the parent company and enhance the profit contribution of the semiconductor display business to listed companies. Wanrun Technology In the first half of the year, Wanrun Technology achieved revenue of 2.548 billion yuan, a year-on-year increase of 27.44%; net profit attributable to the parent company was 16 million yuan, a year-on-year decrease of 46.07%. During the reporting period, in the field of LED light source packaging and lighting, Wanrun Technology won the bid for the lighting project of Qingdao Metro Line 8 and the Tianjin Rail Transit Z4 Line project, accelerating the delivery of existing rail transit projects and expanding the scale of revenue and profit; In addition, the company's dedicated LED car-specific production line was put into use, and was successfully introduced to industry leading customers to achieve batch delivery; In overseas markets, the company has successfully developed high-quality international distributors in Thailand, Malaysia and other places; promoted mass production of LED module production bases in Thailand and investment in LED COB production lines to help develop Southeast Asian and global markets; In the field of LED lighting engineering, the company's subsidiary Zhongzhu Tianyou has expanded its domestic lighting engineering business and successfully won the bids for the Guangxi Guangtou Ecological Aluminum Park Project in Beihai, Guangxi, the YJJD-1 Landscape Lighting Project of the Second Hubei-Huangjiang Crossing Channel (Yanji Yangtze River Bridge), and the Phase II Project of Wuhan Changtou Poly Hankou Seal Project. The company also actively explores overseas projects to cultivate new growth points; and actively explores emerging markets. During the reporting period, Wanrun Technology’s LED light source devices and related business revenue was 208 million yuan, a year-on-year increase of 4.47%, accounting for 8.15% of revenue; LED lighting and related business revenue was 217 million yuan, a year-on-year increase of 5.29%, accounting for 8.53% of revenue. Sunshine Lighting
In the first half of the year, Sunshine Lighting achieved revenue of 1.327 billion yuan, a year-on-year decrease of 20.13%; net profit attributable to the parent company was 97 million yuan, a year-on-year increase of 32.06%. Sunshine Lighting is mainly engaged in the research and development, production and sales of lighting appliances, and also provides customers with comprehensive lighting solutions. The main products include LED lighting products and lighting control systems, covering commercial lighting, home lighting, office lighting, outdoor lighting, track lighting, industrial lighting, educational lighting and other general lighting, as well as emergency lighting, plant lighting, and electrical appliances. During the reporting period, Sunshine's lighting appliance business revenue was 1.313 billion yuan, with a gross profit margin of 34.71%, of which LED light source product revenue was 225 million yuan, with a gross profit margin of 35.34%, a year-on-year decrease of 3.41 percentage points; LED lighting product revenue was 1.066 billion yuan, with a gross profit margin of 35.05%, a year-on-year decrease of 0.49 percentage points. Sunshine Lighting said that in the first half of the year, the international market was frequently disturbed by the US tariff policy and the downward pressure further increased. However, there is growth potential in markets such as the EU, ASEAN and countries along the “Belt and Road”, providing the company with room for expansion. In the domestic market, the transformation and upgrading of traditional lighting production areas, infrastructure investment are driving demand for outdoor lighting, and the night tour economy is stimulating market segments, forming diversified demand support. Policies such as the development of green and low-carbon industries and state subsidies have driven domestic market demand. Yidong Electronics Yidong Electronics is mainly engaged in the R&D, production and sales of precision electronic components such as FPCs, connectors and components, and LED backlight modules. In the first half of the year, Yidong Electronics achieved revenue of 1.009 billion yuan, a year-on-year increase of 27.77%; net profit attributable to the parent company was 60 million yuan, a year-on-year decrease of 74.52%. According to the semi-annual report, during the reporting period, Yidong Electronics performed outstandingly in the connector industry. Benefiting from the rapid development of AI technology, the connector market demand continued to grow, especially in communication connectors and new energy connectors. In the new energy industry, the company actively participated in the new energy vehicle and energy storage markets, and the demand for related products increased significantly during the reporting period. The LED backlight module business operated stably during the reporting period, with revenue of 77.88 million yuan. During the reporting period, Yidong Electronics successfully introduced its products to a number of new customers/new projects for vehicle-mounted display modules, and its terminals covered well-known new energy vehicle OEMs in the industry. In the future, Yidong Electronics will continue to focus on the automotive backlight market, actively develop Tier1 business for well-known end customers, and actively develop new products such as Mini LED to maintain stable business development and improve the operating performance of LED backlight module products. Ocean King In the first half of the year, Ocean King achieved revenue of 806 million yuan, a year-on-year increase of 11.26%; net profit attributable to the parent company was 90 million yuan, a year-on-year increase of 109.16%. Ocean King stated that during the reporting period, the company consolidated its advantages in the first business curve with professional lighting products as the core, and achieved steady progress in market share; at the same time, it accelerated the expansion of the second business curve represented by the Internet lighting platform and lighting scene linkage, and the overall market competitiveness continued to consolidate. In addition, the company further enhances overall profitability by deepening management efficiency improvement, eliminating process redundancies, and optimizing organizational efficiency. In addition, subsidiary Mingzhihui has steadily advanced its business plan around business transformation and upgrading, and its operating performance has achieved significant improvement. During the reporting period, the company implemented the dual main business linkage development strategy of "urban lighting and urban renewal", and both main business segments achieved simultaneous growth compared with the same period last year. During the reporting period, Ocean King's lighting equipment business revenue was 737 million yuan, a year-on-year increase of 4.63%, accounting for 91.47% of revenue. Urban and road lighting engineering construction business revenue was 64.3 million yuan, accounting for 7.98% of revenue, a year-on-year increase of 412.68%. Jingzhida Jingzhida is mainly engaged in the business of semiconductor testing and inspection equipment and system solutions. The company's AMOLED field testing equipment has covered mainstream manufacturers such as BOE, TCL Technology, Visionox, Shenzhen Tianma, etc., and its market share continues to increase; in the field of micro display, Jingzhida has achieved mass production and sales of Micro LED/Micro OLED signal generators, wafer inspection equipment, optical inspection and correction repair equipment, final product inspection equipment and other products, and provided systematic testing solutions to overseas head AR/VR customers. During the reporting period, the company achieved operating income of 444 million yuan, a year-on-year increase of 22.68%, of which semiconductor business income was 313 million yuan, a year-on-year increase of 376.52%. The company continued to increase investment in research and development while maintaining sustained profitability. The net profit attributable to shareholders of listed companies was 31 million yuan, a year-on-year decrease of 19.94%. The net profit after deducting the impact of share-based payment was 35.2761 million yuan, a year-on-year decrease of 9.11%. During the reporting period, Jingzhida maintained exchanges and cooperation with domestic mainstream micro-display manufacturers in the field of cutting-edge display technologies such as Micro LED and Micro OLED. The demand for Micro LED/OLED testing equipment and performance increased simultaneously. In overseas markets, the company continued to deepen its strategic cooperation with AR/VR head terminal manufacturers and successfully launched the development of a variety of new optical and electrical customized testing products. At present, relevant products have begun to be delivered in small batches to customer OEMs at home and abroad. In terms of product innovation, the high-resolution imaging colorimeter independently developed by Jingzhida has received formal orders from major customers, significantly improving the detection efficiency of automated equipment. Starlight Shares In the first half of the year, Starlight Shares achieved revenue of 93 million yuan, a year-on-year increase of 32.62%; net profit attributable to the parent company turned from profit to loss. Starlight Co., Ltd. is mainly engaged in the LED lighting and environmental electrical appliance sectors, the new energy sector including lithium battery production equipment, photovoltaic power station construction, development and operation, as well as information security and system integration business. During the reporting period, within the lighting and environmental electrical appliances sector, Starlight Co., Ltd. focused on developing markets such as intelligent lighting, automotive lights, UV disinfection, agricultural lighting, and beauty and health lighting. It is also worth noting that recently, Starlight's LED semiconductor packaging production line has been officially put into mass production, marking the company's expansion from focusing on the field of lighting finished products to the upstream core device packaging field. It is reported that this production line focuses on the research, development and production of SMD, LAMP and other LED semiconductor light sources. It is committed to breakthroughs in high lumen, high luminous efficiency, high CRI and low light attenuation technologies, and has provided packaging solutions to many strategic partners at home and abroad.