Jilin OLED(SH:688378) Xin Lang Cai Jing·2025-08-22 11:55Core Viewpoint - The financial performance of Aolaide in the first half of 2025 shows significant declines in revenue and profit, indicating potential challenges in the OLED industry [1][2]. Financial Performance - Aolaide reported a revenue of 281 million yuan in the first half of 2025, a year-on-year decrease of 17.87% [1]. - The net profit attributable to shareholders was 27.005 million yuan, down 70.59% year-on-year [1]. - The net profit after deducting non-recurring items was 4.257 million yuan, a decline of 93.31% year-on-year [1]. - Basic earnings per share were 0.11 yuan [1]. Profitability Metrics - The gross margin for the first half of 2025 was 45.85%, a decrease of 5.65 percentage points year-on-year [2]. - The net profit margin was 9.61%, down 17.23 percentage points compared to the same period last year [2]. - In Q2 2025, the gross margin was 44.28%, a year-on-year decrease of 1.79 percentage points and a quarter-on-quarter decrease of 2.88 percentage points [2]. - The net profit margin for Q2 2025 was 1.23%, which increased by 5.04 percentage points year-on-year but decreased by 15.38 percentage points quarter-on-quarter [2]. Expense Analysis - Total operating expenses for the first half of 2025 were 120 million yuan, an increase of 11.8831 million yuan year-on-year [2]. - The expense ratio was 42.79%, up 11.12 percentage points from the previous year [2]. - Sales expenses increased by 103.72%, while management, R&D, and financial expenses saw smaller increases of 0.48%, 6.72%, and 69.72%, respectively [2]. Shareholder Information - As of the end of the first half of 2025, the total number of shareholders was 8,923, an increase of 1,221 or 15.85% from the previous quarter [2]. - The average market value per shareholder decreased from 551,900 yuan at the end of the previous quarter to 470,700 yuan, a decline of 14.70% [2]. Company Overview - Aolaide, established on June 10, 2005, and listed on September 3, 2020, is located in Changchun, Jilin Province [3]. - The company specializes in the research, manufacturing, sales, and after-sales service of organic light-emitting materials and evaporation source equipment within the OLED industry chain [3]. - The revenue composition includes 63.81% from organic light-emitting materials, 31.76% from evaporation source equipment, and 4.33% from other functional materials [3]. - Aolaide is categorized under the electronic-optical optoelectronic industry and is associated with concepts such as small-cap stocks, OLED, flexible electronics, and new materials [3].