联建光电: 2025年半年度报告

Core Viewpoint - The company reported a significant decline in revenue and net profit for the first half of 2025, attributed to macroeconomic challenges and increased competition in the LED display market [2][3][10]. Company Overview and Financial Indicators - The company, Shenzhen Liantronics Co., Ltd., is listed on the Shenzhen Stock Exchange with the stock code 300269 [2]. - The company did not distribute cash dividends or bonus shares for the reporting period [2]. - Total revenue for the first half of 2025 was approximately 241.94 million yuan, a decrease of 18.91% compared to the same period last year [4][13]. - The net profit attributable to shareholders was -2.17 million yuan, representing a 78.85% reduction in losses compared to the previous year [4][10]. Industry Development Status - The LED display industry is experiencing a phase of contraction in demand, with delays in new projects in advertising and retail sectors [3][4]. - New display technologies such as Mini/Micro-LED and COB are gaining traction, expanding application boundaries in high-end markets [3][4]. Business Performance - The company's LED display business generated revenue of 238 million yuan, reflecting a decline due to weak macro demand and project delivery delays [4][10]. - The company maintains a leading position in the small-pitch LED display sector and is actively expanding into emerging fields like Mini/Micro-LED and naked-eye 3D displays [4][10]. Financial Data and Analysis - The company's operating costs decreased by 19.33% to approximately 170.70 million yuan, primarily due to reduced business volume [13]. - Total expenses (sales, management, and R&D) amounted to 68.79 million yuan, down 15.96% year-on-year [10][13]. - The gross profit margin showed stability despite revenue decline, indicating effective cost control measures [10][13]. Competitive Advantages - The company emphasizes technological innovation and R&D, focusing on high-definition displays and energy-saving technologies [7][10]. - A robust marketing and service system has been established, allowing for customized LED display solutions tailored to client needs [9][10]. - The company has built a strong brand presence through participation in major national projects and industry exhibitions [10].