OFILM(SZ:002456) Nan Fang Du Shi Bao·2025-10-30 15:35Core Viewpoint - O-Film Technology reported a revenue of 15.816 billion yuan for the first three quarters of 2023, a year-on-year increase of 9.29%, but still faced a net loss of 68.05 million yuan, indicating ongoing pressure on profitability despite revenue growth [2][3] Financial Performance - For Q3 2023, O-Film achieved a revenue of 5.979 billion yuan, a year-on-year increase of 21.15%, with a net profit of 40.82 million yuan, although the non-recurring net profit decreased by 65.71% [2][3] - Cumulative losses for the first three quarters highlight the instability of the company's profitability, primarily due to declines in investment income from joint ventures and significant asset impairments [2][3] Business Strategy - The company is focusing on resource integration and enhancing its core optical capabilities through the acquisition of a stake in O-Film Microelectronics (Nanchang) Co., Ltd., aiming to strengthen its optical business chain and improve supply chain coordination [3] - The shift in the smartphone optical market from scale competition to structural and performance competition is pushing O-Film to maintain high R&D investments and optimize production capacity and processes [3] Industry Environment - The optical module industry is experiencing increased technical barriers due to advancements in large bottom sensors, multi-camera systems, and computational photography, leading to a more concentrated market where leading companies compete on product performance and delivery capabilities [3][4] - Despite the positive signs of revenue growth and slight profitability in Q3, the overall profitability remains under pressure due to fluctuations in joint venture earnings, asset impairments, and ongoing expenses [3][4]