2022 Financial Report | Longteng Optoelectronics and Qingyue Technology, both new and old panel factories, are profitable against the trend!

Recently, two new and old panel factories in China have issued performance announcements for 2022. Among them, Longteng Optoelectronics achieved a total operating revenue of 4.207 billion yuan in 2022, a year-on-year decrease of 26.62%; The net profit attributable to the parent company was 261 million yuan, a year-on-year decrease of 74.5%.
2022 Financial Report | Longteng Optoelectronics and Qingyue Technology, new and old panel factories, making profits against the trend!
According to public information, Longteng Optoelectronics is one of the first enterprises in China specializing in the research, development and manufacturing of TFT-LCD panels. Currently, Longteng Optoelectronics still focuses on LCD business, and its Kunshan Development Zone factory operates a G5 LCD production line.
According to the 2022 annual report, in the field of vehicle display, Longteng Optoelectronics has established good cooperative relationships with domestic and foreign automotive manufacturers such as Geely, BYD, Chery, SAIC General Motors, Toyota, Honda, etc; In the field of smart phones, Longteng Optoelectronics has also deepened strategic cooperation with domestic and foreign mobile phone brand customers such as Chuanyin, TCL, and Tianlong.
Regarding the decline in performance in 2022, Longteng Optoelectronics stated that due to the increased risk of fluctuations in the global economic and international political environment, the repeated lag of the epidemic situation, and the industry’s decline after the high boom in 2022, it can be seen that the industry has continued a downward adjustment trend since the second half of 2021, while terminal demand has been constrained, resulting in a decline in overall market prices.
In the face of the severe market environment in 2022, Longteng Optoelectronics insists on focusing on small and medium-sized display fields with rich application scenarios, adheres to the differentiated development direction, cultivates advanced display technologies such as dynamic privacy protection, touch integration, human eye protection, and Mini LED, further develops and optimizes oxide technology, continues to innovate, break through, optimize, and upgrade, and improves product added value; Relying on the advantages of years of in-depth research in the professional display field, the company has increased its business expansion in display fields such as automotive, industrial control, and electronic sports, including new energy vehicles, consolidating its industry position in the segmented market.
Looking forward to the future, Longteng Optoelectronics said that at this stage, the panel market has gradually bottomed out and stabilized, and the price reduction range of some products has narrowed or structural adjustments have been made. With the integration of display technology with emerging technologies such as 5G/6G, artificial intelligence, and the metauniverse, new application scenarios continue to expand. The display industry has also become an important link in upgrading information consumption, expanding the digital economy, and developing the electronic information industry. The demand of the end market will grow with the recovery and growth of the external economic situation.
Another panel factory, Qingyue Technology, is a new darling of capital and has been successfully listed on the Science and Technology Innovation Board of the Shanghai Stock Exchange for four years. In the fourth quarter of last year.
In 2022, Qingyue Technology achieved a total operating revenue of 1.046 billion yuan, a year-on-year increase of 50.71%; The net profit attributable to the parent company was 56.508 million yuan, a year-on-year decrease of 4.37%.
2022 Financial Report | Longteng Optoelectronics and Qingyue Technology, new and old panel factories, making profits against the trend!
According to public information, Qingyue Optoelectronics is a high-tech enterprise specializing in independent research and development, large-scale production, and market sales of OLED and other display devices. Currently, Qingyue Optoelectronics has formed a new pattern of display industry with PMOLED business as its main business and electronic paper mold group and silicon based OLED business as auxiliary businesses.
Regarding the reasons for performance fluctuations, Qingyue Optoelectronics stated that the main reasons were:
During the reporting period, the market demand for the company’s electronic paper business grew vigorously, and the expansion of business scale led to the growth of operating revenue; In order to adapt to the rapid changes in the market, the company has increased its investment in research and development of electronic paper and silicon based new technologies and products; While expanding the business scale and increasing operating income, the company increases the interest expense on bank loans and the discount fee for bank acceptance bills; The impact of macroeconomic factors such as repeated outbreaks at home and abroad.