TIANMA(SZ:000050) Xin Lang Cai Jing·2025-10-27 06:38Core Insights - The core focus of the news is on Tianma Microelectronics' strong performance in the automotive display sector, highlighting significant revenue growth and strategic initiatives to maintain competitive advantages in a high-barrier market [2][3][4]. Group 1: Automotive Display Business - Tianma Microelectronics has achieved a 27% year-on-year revenue growth in its automotive display business for the first half of 2025, with sales to major international automotive manufacturers increasing by over 70% [2]. - The company has maintained its position as the global leader in automotive TFT-LCD and automotive instrument display shipments for five consecutive years, and it is set to lead in head-up display (HUD) shipments in 2024 [2]. - The automotive display market is characterized by high barriers to entry and strong customer loyalty, with increasing demands for product reliability, supply stability, and rapid response capabilities [3]. Group 2: Financial Performance - The growth in revenue is attributed to the healthy development of core businesses and cost reduction initiatives, with non-consumer display businesses accounting for over 50% of revenue [4]. - The gross margin improved by 4.52 percentage points year-on-year, driven by the profitability enhancement in flexible AMOLED products [4]. - The company successfully reduced its cost-to-revenue ratio by approximately 5.4 percentage points, contributing to improved profitability [4]. Group 3: Emerging Technologies and Strategic Focus - Tianma Microelectronics is actively developing multi-form folding technologies and has achieved rapid mass production of various folding screen products [5]. - The company emphasizes its commitment to the display sector, implementing a "2+1+N" strategy that focuses on mobile and automotive displays while exploring new applications in industrial products [6]. - With over 40 years of experience in the small and medium-sized display sector, the company aims to enhance its comprehensive competitiveness and deepen industry chain collaborations [7].