Core Viewpoint - The company, Tiande Yu, has demonstrated significant revenue and profit growth in recent periods, driven by increased demand for its display driver chips and related products [1][2]. Group 1: Financial Performance - In the first half of 2025, the company reported total revenue of 1.208 billion yuan, a year-on-year increase of 43.35% [1]. - The net profit attributable to the parent company was 152 million yuan, reflecting a year-on-year growth of 50.89% [1]. - The net profit attributable to the parent company after deducting non-recurring gains and losses was 145 million yuan, with a year-on-year increase of 72.87% [1]. - For the full year of 2024, the company achieved revenue of 2.102 billion yuan, a year-on-year increase of 73.88% [2]. - The net profit attributable to the parent company for 2024 was 275 million yuan, showing a year-on-year growth of 143.61% [2]. - In the first quarter of 2025, the company reported revenue of approximately 554 million yuan, a year-on-year increase of 60.52% [2]. Group 2: Business Drivers - The growth in revenue and profit is attributed to the increased volume of high-refresh-rate mobile phone display driver chips, significant shipments from brand clients in tablet display driver chips, and an enhanced market share in wearable display driver chips [1]. - The company maintains a leading position in the global market for electronic price tag driver chips, contributing to its revenue growth [1]. - The main business of the company focuses on the research, design, and sales of integrated chips for mobile smart terminals, with key products including TDDI, DDIC, and AMOLED DDIC [1].

据韩媒《朝鲜日报》6月20日报道，韩国显示驱动芯片厂商LX Semicon已成功进入苹果iPad Pro 的OLED DDI供应链。 资料显示，LX Semicon专注于显示驱动芯片（DDI）、电源管理芯片（PMIC）、定时控制器 （T-Con）等产品的设计和研发，其前身隶属于LG集团，2021年独立运营后依托与LG Display 的长期合作关系实现持续发展。2024年，LX Semicon的销售额为1.8656万亿韩元，营业利润为 1671亿韩元。 此图片来自微信公众平台 自2024年以来，随着LG Display开始采购台湾地区公司联咏科技（Novatek）的DDI产品，LX Semicon迫切需要实现销售渠道多元化。据分析，该公司正在扩大其在中国大陆显示公司京东方 （BOE）的份额，同时努力进入苹果iPad Pro的OLED DDI供应链。 十八届十二十六十十 图片来源：拍信网 ▶ 关于集邦 一位半导体业内人士表示："随着LG Display供应链多元化，LX Semicon的业绩压力增大。LX Semicon正在通过与京东方等公司合作，加速实现销售渠道多元化。不过，为了持续提升业绩， 该公司需要在不 ...

Investment Rating - The report maintains a "Buy" rating for the company Tian De Yu (688252) [3] Core Insights - The company reported a revenue of 554 million yuan for Q1 2025, representing a year-on-year increase of 60.52%, and a net profit attributable to shareholders of 71 million yuan, up 116.96% year-on-year [2] - The gross margin for Q1 2025 was 24.46%, an increase of 4.89 percentage points year-on-year [2] - The company's four-color electronic price tag technology has achieved an 80% market share in 2024, with expectations for continued growth in 2025 as the penetration rate of electronic price tags increases [2] - The company is increasing its R&D investment, which reached 47 million yuan in Q1 2025, a 23.06% increase year-on-year, accounting for 8.54% of revenue [2] Financial Forecasts - The company is expected to achieve revenues of 3.0 billion yuan, 4.0 billion yuan, and 5.2 billion yuan in 2025, 2026, and 2027 respectively, with net profits of 373 million yuan, 528 million yuan, and 725 million yuan for the same years [3][5] - The projected growth rates for revenue are 42.82% in 2025, 33.62% in 2026, and 30.06% in 2027 [5] - The earnings per share (EPS) are forecasted to be 0.91 yuan, 1.29 yuan, and 1.77 yuan for 2025, 2026, and 2027 respectively [5]