Jilin OLED(SH:688378) Zheng Quan Shi Bao Wang·2025-08-13 10:28Core Viewpoint - The company, OLED, is experiencing a significant decline in overall revenue and net profit for the first half of 2025, primarily due to a sharp drop in sales from its equipment segment, despite growth in its materials segment [1][2]. Financial Performance - OLED expects to achieve revenue between 270 million to 290 million yuan for the first half of 2025, representing a year-on-year decrease of 15.23% to 21.07% [1] - The materials segment is projected to generate revenue of 250 million to 260 million yuan, showing a year-on-year increase of 18.67% to 23.41% [1] - The equipment segment is expected to earn 23 million to 24 million yuan, reflecting a significant decline of 81.70% to 82.46% year-on-year [1] - The net profit attributable to the parent company is anticipated to be between 25 million to 29 million yuan, down 68.41% to 72.77% year-on-year [1] - The net profit after excluding non-recurring gains and losses is projected to be between 4 million to 4.8 million yuan, a decrease of 92.46% to 93.71% year-on-year [1] Business Segments - The company operates in the OLED industry, focusing on the upstream segment, including the research, manufacturing, and sales of organic light-emitting materials and evaporation source equipment [2] - The materials business achieved revenue of 363 million yuan in 2024, marking a year-on-year growth of 14.31% [2] - The equipment business generated 169 million yuan in revenue in 2024, which is a year-on-year decline of 15% [2] - In Q1 2025, the company reported revenue of 153 million yuan, with the materials segment reaching a historical high of 136 million yuan, up 5.33% year-on-year [2] Strategic Initiatives - The company plans to raise up to 300 million yuan through a simplified procedure for issuing shares, with the funds aimed at establishing a PSPI materials production base and supplementing working capital [3] - The new PSPI production base is expected to enhance production capacity and order fulfillment capabilities, thereby improving profitability and business synergy with downstream display panel manufacturers [3][4] - Increasing working capital is crucial for supporting future business expansion and optimizing the company's capital structure, which will help reduce financial costs and enhance risk resilience [4]