As a leader in the LED light display industry, Unilumin Technology’s LED display business is its main source of profit. The 2024 annual report shows that the LED display business accounts for 92.49% of total revenue. With its excellent performance such as high resolution, high brightness, and low power consumption, it is widely used in advertising, sports events, stage performances and other fields.
Overseas business is still the company's growth engine. In 2024, the company's overseas operating income will be 4.777 billion yuan, accounting for 61.45% of the total operating income, a year-on-year increase of 18.33%. The company strengthens its overseas marketing system through hierarchical marketing networks and localized layout. Since overseas business is mainly settled in U.S. dollars, the company adheres to the principle of exchange rate risk neutrality and carries out foreign exchange derivatives investments to avoid exchange rate fluctuation risks.
In terms of technological innovation and product upgrades, the companyActively promote the research and development of high-end Mini/Micro LED product lines to meet the needs of high-end application scenarios. At the same time, the company upgraded its LED+AI strategy and built an intelligent and scenario-based innovation ecosystem with end-side applications as the core driver. In early 2025, Unilumin's Agent platform will be connected to multiple mainstream models such as Microsoft Azure, OpenAI, DeepSeek V3 and R1 to realize comprehensive design of AI capabilities, and launch innovative products such as AI holographic companion assistant and AI interactive fish tank screen, moving LED+AI from concept to commercial application. The company's self-developed Shanyin large model and UniVMLM model focus on emotional companionship and cultural inheritance, increasing the added value of the product and consolidating its high-end market position.
R&D investment and patent layout are important supports for the company's sustainable development. In 2024, Unilumin Technology's R&D personnel will account for 19.94% of the group's total headcount, and its annual R&D investment will be 376 million yuan, accounting for 4.84% of its operating income. In terms of patent layout, 370 new patents were granted that year, including 81 invention patents. A total of 3,231 patents were granted, and 286 software copyrights were registered. The trademark layout covers more than 200 countries, and it actively participated in the formulation of more than 180 industry standards.
The company's continuous investment and profound accumulation in the field of R&D not only builds a technological moat, but also provides underlying support for production capacity upgrades. It was recently disclosed that it has invested 600 million yuan in the Nanchang High-tech Industrial Development Zone to build the "Micro&Mini LED display and LED lighting production base project", focusing on the construction of advanced production lines such as COB packaging and chip-level MiP packaging. The products will be used in the fields of Mini/Micro LED display and lighting.
Regarding future mergers, acquisitions and reorganization plans, the company expressed an open and cautious attitude, paying more attention to the integration of market, brand and technical resources, and how these factors complement the company's strategy to achieve long-term value added.
ANNA