Group 1 - The company has approved a share repurchase plan using its own and raised funds, with a total amount between RMB 50 million and RMB 100 million, and a maximum repurchase price of RMB 14.80 per share [2] - The repurchase plan is intended for future implementation of equity incentive plans or employee stock ownership plans [2] - As of August 31, 2025, the company has not yet implemented the share repurchase [3] Group 2 - The company will implement the repurchase plan based on market conditions within the specified timeframe and will fulfill its information disclosure obligations as per relevant regulations [4]

股份回购实施进展 依据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引第9号——回购股份》等相关 规定，公司需在每个月的前三个交易日内，披露截至上月末的回购进展情况。截至2025年8月31日，公 司暂未实施本次股份回购。 登录新浪财经APP 搜索【信披】查看更多考评等级 后续计划说明 维信诺科技股份有限公司于2025年4月29日召开的第七届董事会第十八次会议，审议通过《关于回购公 司股份方案的议案》。公司计划使用自有资金与自筹资金，通过深圳证券交易所交易系统，以集中竞价 交易方式回购部分已发行的人民币普通股（A股）。 此次回购股份将用于未来实施股权激励计划或员工持股计划。用于回购股份的总金额设定在不低于人民 币0.5亿元（含）且不超过人民币1亿元（含）的区间，回购价格上限为人民币14.80元/股（含）。具体 回购股份数量，将以公司公告回购方案实施完毕之日的实际回购数量为准，回购期限自董事会审议通过 回购股份方案之日起12个月内。相关详细内容，已于2025年4月30日在《证券时报》《证券日报》《中 国证券报》《上海证券报》及巨潮资讯网（www.cninfo.com.cn）披露的《关于回购股份方案的公 ...

维信诺科技股份有限公司董事会 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，无虚 假记载、误导性陈述或者重大遗漏。 维信诺科技股份有限公司（以下简称"公司"）于2025年4月29日召开的第 七届董事会第十八次会议审议通过了《关于回购公司股份方案的议案》，同意 公司使用自有资金和自筹资金通过深圳证券交易所交易系统以集中竞价交易方 式回购公司部分已发行的人民币普通股（A 股），用于未来实施股权激励计划 或员工持股计划，本次用于回购股份的总金额不低于人民币0.5亿元（含）且不 超过人民币1亿元（含），回购价格不超过人民币14.80元/股（含），具体回购股 份的数量以公司公告回购方案实施完毕之日的实际回购股份数量为准，回购期限 自董事会审议通过回购股份方案之日起12个月内。具体内容详见公司于2025年4 月30日在《证券时报》《证券日报》《中国证券报》《上海证券报》和巨潮资讯 网（www.cninfo.com.cn）披露的《关于回购股份方案的公告》（公告编号：2025-048）。 一、股份回购实施进展 根据《上市公司股份回购规则》《深圳证券交易所上市公司自律监管指引 第9号——回购股份》等有关规定，公司应 ...

Company Overview - Visionox is a leading innovative supplier of new display solutions, focusing on the research, production, and sales of AMOLED displays for various applications including smartphones, wearables, and automotive displays [2][3] - The company maintains strong partnerships with major brands such as Honor, Xiaomi, OPPO, and Google, ensuring a robust market presence [2] Market Trends - The global AMOLED market is experiencing rapid growth, with a projected shipment of over 750 million smartphone AMOLED panels in 2025, representing a penetration rate of over 60% in the smartphone market [2] - The compound annual growth rate (CAGR) for IT product AMOLED panel shipments is expected to reach 26.5% by 2030, while automotive display AMOLED panel shipments are projected to grow at a CAGR of 30.6% [3] Financial Performance - In the first half of 2025, Visionox achieved a revenue of 4.121 billion yuan, marking a year-on-year growth of 4.79% [3] Product Development - The company is actively developing technologies for foldable smartphones, aiming to transition foldable screens from niche products to mainstream options [4] - Visionox has made significant advancements in localizing its supply chain, achieving a substantial increase in local sourcing rates [5] Technological Innovations - The company has introduced solid-state laser annealing (SLA) technology, which addresses long-standing industry challenges and improves display uniformity while reducing production costs [5] - Visionox's ViP technology features a high aperture ratio of 69%, enhancing brightness and lifespan, and enabling innovative applications such as transparent displays [6] Production Capacity - Visionox is investing in high-generation AMOLED production lines, with the first line expected to commence operations in September 2024, targeting the mid-to-large size market [6]

Core Viewpoint - The financial performance and trading activity of Visionox Technology Co., Ltd. indicate a low level of financing and short selling, alongside a slight increase in shareholder numbers and a decline in average shares held per shareholder [1][2]. Group 1: Financial Performance - For the first half of 2025, Visionox reported operating revenue of 4.121 billion, representing a year-on-year growth of 4.79% [2]. - The company recorded a net profit attributable to shareholders of -1.062 billion, which is a year-on-year improvement of 9.74% [2]. - Cumulative cash dividends since the A-share listing amount to 53.2384 million, with no dividends paid in the last three years [2]. Group 2: Trading Activity - On August 29, Visionox's stock price fell by 1.05%, with a trading volume of 194 million [1]. - The financing buy-in amount for Visionox on the same day was 14.4774 million, while the financing repayment was 16.0887 million, resulting in a net financing outflow of -1.6113 million [1]. - The total financing and securities lending balance for Visionox as of August 29 was 303 million, which is 2.09% of the circulating market value and below the 30th percentile level over the past year [1]. Group 3: Shareholder Information - As of August 20, the number of shareholders for Visionox increased to 67,900, up by 9.20% from the previous period [2]. - The average number of circulating shares held per shareholder decreased to 20,545, down by 8.43% [2]. - As of June 30, 2025, Hong Kong Central Clearing Limited was the ninth largest circulating shareholder, holding 8.2311 million shares, an increase of 173,500 shares from the previous period [2].

Group 1 - The State Intellectual Property Office of China has granted a patent to Hefei Visionox Technology Co., Ltd. and Kunshan Guoxian Optoelectronics Co., Ltd. for a technology related to "display screen compensation methods, devices, equipment, and storage media" with the authorization announcement number CN 116129795 B, applied for on December 2022 [1] - Hefei Visionox Technology Co., Ltd. was established in 2018 and is located in Hefei City, primarily engaged in the manufacturing of computers, communications, and other electronic devices [1] - The registered capital of Hefei Visionox Technology Co., Ltd. is 2,200 million RMB [1] - According to Tianyancha data analysis, Hefei Visionox Technology Co., Ltd. has participated in 939 bidding projects and holds 3,695 patent records, in addition to having 31 administrative licenses [1]

Core Points - The Ministry of Industry and Information Technology has approved the project plan for the industry standard "Flexible Display Devices Part 3-5: Detailed Specifications for Four-Sided Curved Flexible Display Modules," led by Visionox [1][4] - This standard aims to unify technical requirements and evaluation methods for industry products, specifying production and inspection standards for four-sided curved display modules [1][4] - The standard also addresses issues such as edge color deviation, providing key characteristic testing requirements and methods for unified testing and validation [1] Summary by Categories - **Project Details** - The project number is 2025-0583T-SJ, and it is categorized as a recommended standard with a 12-month project cycle [4] - The standard is being developed by a consortium including Kunshan Guoxian Optoelectronics, TCL Huaxing Technology, BOE Technology Group, and others [4] - **Industry Impact** - Visionox has now led the development of 5 international standards, 12 national standards, and 10 industry standards, totaling over 60 standards in various categories [4]

Core Viewpoint - The financial performance of Visionox (维信诺) shows a slight improvement in revenue but continues to face significant losses, indicating ongoing challenges in profitability and cash flow management [1][12]. Financial Performance Summary - Total revenue for the first half of 2025 reached 4.121 billion yuan, a year-on-year increase of 4.79% compared to 3.933 billion yuan in 2024 [1]. - The net profit attributable to shareholders was -1.062 billion yuan, improving by 9.74% from -1.177 billion yuan in the previous year [1]. - In Q2 2025, total revenue was 2.306 billion yuan, up 7.96% year-on-year, while the net profit attributable to shareholders was -532 million yuan, an increase of 2.67% [1]. - The gross margin improved to -0.21%, a significant increase of 97.96% from -10.50% in the previous year [1]. - The net margin also improved to -30.55%, up 17.01% from -36.81% [1]. - Total operating expenses (sales, management, and financial expenses) amounted to 686 million yuan, accounting for 16.63% of revenue, a decrease of 9.97% year-on-year [1]. Cash Flow and Debt Management - The current ratio stands at 0.52, indicating rising short-term debt pressure [1]. - Cash and cash equivalents decreased by 24.24% to 6.505 billion yuan [1]. - The company’s receivables increased by 35.48% to 3.381 billion yuan, reflecting potential cash flow issues [1]. - Interest-bearing liabilities rose by 3.46% to 20.806 billion yuan [1]. Investment and Development Insights - The company has increased its capitalized R&D expenditures by 66.08%, indicating a focus on innovation [6]. - The market for AMOLED technology is expected to grow significantly, with a projected compound annual growth rate of 56% for IT products and 49% for automotive displays from 2023 to 2028 [13]. Risk and Return Analysis - The historical return on invested capital (ROIC) has been poor, with a median of -0.71% over the past decade [12]. - The company has reported five years of losses since its IPO, raising concerns about its long-term viability [12].

Core Viewpoint - The article discusses the performance of eight display-related companies in the first half of 2025, highlighting their revenue and net profit changes, as well as the factors influencing their financial results. Group 1: Company Performance - Visionox reported revenue of 4.12 billion yuan, a year-on-year increase of 4.79%, but a net loss of 1.06 billion yuan, which is a reduction in loss compared to the previous year [3][4] - Goodix achieved revenue of 2.25 billion yuan, a slight decrease of 0.20%, while net profit rose by 35.74% to 430 million yuan, attributed to increased sales of innovative products [6][8] - Ruile New Materials saw revenue of 806 million yuan, up 16.27%, and net profit of 166 million yuan, a significant increase of 74.22%, driven by strong performance in the pharmaceutical sector [9][10] - Hanbo High-tech's revenue reached 1.55 billion yuan, a substantial increase of 50.84%, with a reduced net loss [11][12] - Akitamicro reported revenue of 631 million yuan, up 21.37%, but a net profit decline of 5.78% to 51 million yuan [16][17] - Jingwei Huikai experienced a revenue drop of 20.23% to 1.27 billion yuan and a net profit decrease of 70.78% to 14 million yuan [19][20] - Puyang Huicheng's revenue was 721 million yuan, a slight increase of 0.36%, but net profit fell by 37.22% to 70 million yuan [22][23] - Suijing Optoelectronics reported revenue of 165 million yuan, a growth of 33.04%, but incurred a net loss of 17 million yuan [25][26] Group 2: Industry Trends and Insights - Visionox focused on optimizing product structure, emphasizing AMOLED display products, leading to a 9.66% increase in OLED product revenue [5] - Goodix's revenue decline was attributed to changes in customer demand and inventory management, while its gross margin improved from 42.0% to 43.3% due to reduced chip procurement costs [8] - Ruile New Materials' growth was driven by a strong pharmaceutical segment and effective cost control measures [10] - Hanbo High-tech expanded its market in automotive backlight display modules, successfully collaborating with several Tier 1 suppliers [13][14] - Akitamicro's new production base in Thailand is expected to enhance its core business in display devices and embedded software development [18] - Jingwei Huikai's profit decline was influenced by international market conditions and increased production costs [21] - Puyang Huicheng's revenue growth in its anhydride derivatives business was notable, with a 3.74% increase [24] - Suijing Optoelectronics saw significant growth in its automotive LED segment, with a 241.15% increase in sales [27][28]

Core Viewpoint - The company reported a slight increase in revenue for the first half of 2025, driven primarily by OLED product sales, despite a net loss attributed to shareholders. Financial Performance - The company achieved operating revenue of 4.121 billion yuan, a year-on-year increase of 4.79% [2][3] - The net profit attributable to shareholders was -1.062 billion yuan, showing a year-on-year improvement of 9.74% [2][3] - The net profit excluding non-recurring gains and losses was -1.118 billion yuan, reflecting a year-on-year increase of 14.63% [2][3] - The net cash flow from operating activities was 1.521 billion yuan, up 21.10% from the previous year [3] - Basic and diluted earnings per share were both -0.7604 yuan, an improvement of 10.49% compared to the previous year [3] - The weighted average return on equity was -21.16%, a decrease of 5.41% from the previous year [3] - Total assets at the end of the reporting period were 38.082 billion yuan, a slight decrease of 0.01% from the end of the previous year [3] - Net assets attributable to shareholders were 4.488 billion yuan, down 19.12% from the previous year [3] Product Development and Innovation - The company launched the world's first glass-based AMOLED ultra-high PPI product, which balances display quality and cost, potentially accelerating the price reduction and adoption of VR devices [2] - The company showcased smart home solutions at SIDDW2025, featuring various home electronic products equipped with AMOLED screens for enhanced human-machine interaction [2] Technological Advancements - The company introduced high-efficiency pTSF devices that reduce power consumption by over 12% and improve lifespan by 15% [4] - A wide color gamut pTSF device was released, significantly enhancing color purity and covering DCI-P3 and Adobe RGB color spaces while reducing power consumption by over 6% and increasing lifespan by 20% [4] - The company launched a 20Hz low-refresh-rate solution for LTPS mobile phones, achieving over 20% power reduction while maintaining flicker-free display in low brightness scenarios [4] - The world's first low-reflection COE flexible AMOLED technology was introduced, reducing power consumption by over 20% and decreasing module thickness by approximately 100um [4] Operational Efficiency - The company is enhancing operational efficiency through streamlined management processes and collaboration with the supply chain to achieve "increased efficiency, reduced costs, and improved quality" [4] - The Kunshan 5.5-generation AMOLED production line is optimizing product structure and upgrading capacity to support new market expansions [4] - The Gu'an 6th-generation flexible AMOLED production line is maintaining high operational rates to ensure quality delivery to core brand clients [4] - The company’s invested 8.6-generation AMOLED production line project reached the main building's completion in August this year [4]