WitsView睿智显示·2026-02-04 05:38Core Viewpoint - Sunic System has experienced explosive growth in performance due to a significant contract with China's BOE for the supply of 8.6-generation OLED evaporation equipment, marking a historic achievement for the company [1][3]. Financial Performance - In 2025, Sunic System achieved record revenue of 515.7 billion KRW (approximately 27.14 billion RMB), a year-on-year increase of 356.7%, and an operating profit of 111.5 billion KRW (approximately 5.87 billion RMB), up 1312.5% [2]. - The fourth quarter of 2025 saw a remarkable revenue of 221.0 billion KRW (approximately 11.63 billion RMB), a year-on-year growth of 450.6%, with an operating profit of 53.5 billion KRW (approximately 2.82 billion RMB), recovering from a loss of 9.2 billion KRW in the previous year [2]. Key Drivers of Growth - The primary driver of Sunic System's growth is the investment in BOE's 8.6-generation OLED production line [3]. - A contract worth 379.7 billion KRW (approximately 19.98 billion RMB) for the supply of OLED evaporation equipment was signed with BOE in June 2024, contributing significantly to the company's performance [5]. Future Outlook - Sunic System's order backlog as of the end of 2024 was 528.0 billion KRW (approximately 27.79 billion RMB), with an expected recovery in backlog levels due to the upcoming signing of the second phase project with BOE [5][6]. - The company anticipates additional orders for 8.6-generation OLED equipment this year, alongside a growing demand for OLEDoS equipment from Chinese panel manufacturers, with large-scale production expected by 2028 [6].