Visionox's 2026 interim report shows net loss of 1.519 billion yuan, widening year-on-year
Visionox released its 2026 interim report. Total operating revenue was 4.004 billion yuan, down 2.85% year-on-year. Net profit attributable to the parent company was negative 1.519 billion yuan, a decrease of 457 million yuan compared with the same period last year, with the loss widening. Net cash inflow from operating activities was 1.766 billion yuan, up 16.12% year-on-year, marking a third consecutive year of growth. The company's asset-liability ratio rose to 87.65%, gross margin was negative 6.10%, return on equity was negative 86.16%, and diluted earnings per share was negative 1.09 yuan.
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Greenda first-half net profit attributable to parent 60.94 million yuan, down 0.7% year on year
Greenda released its 2026 half-year report. First-half net profit attributable to the parent was 60.94 million yuan, down 0.7% year on year. Operating revenue was 303 million yuan, down 3.8% year on year. Net profit attributable to the parent excluding non-recurring items was 52.24 million yuan, down 2.1% year on year. Net operating cash flow was 82.83 million yuan, up 20.7% year on year. In the second quarter, operating revenue was 155 million yuan, up 1.6% year on year, and net profit attributable to the parent was 31.62 million yuan, up 6.9% year on year. The company's Sichuan project officially began production. Developer products have achieved volume supply at newly built high-generation AMOLED production lines in the southwest region, and stripper products have been successfully introduced to customers including Visionox Group.
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Olaide Subsidiary Wins Bid for Visionox AMOLED Production Line Upgrade Project Worth 47.28 Million Yuan
Olaide's wholly-owned subsidiary Shanghai Shengxi Optoelectronic Technology has won the bid for Visionox's sixth-generation flexible AMOLED production line upgrade project, with a bid amount of 47.28 million yuan. After the smooth implementation of this project, it is expected to have a positive impact on the company's performance in 2026 and 2027.
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Visionox Debuts at ChinaJoy, Showcasing Mid-Size and Multi-Scenario OLED Solutions
Visionox made its debut at ChinaJoy 2026, presenting a full-scenario OLED display lineup covering esports, laptops, designer toys, and automotive applications, reflecting the company's strategic acceleration in the mid-size market and diversified scenario expansion. The company partnered with brands including iQOO, Mechrevo, Chuangke, and One-Netbook to bring multiple esports products such as gaming phones, water-cooled chassis, and handheld game consoles, forming a full-size esports product matrix. Among them, the ultra-thin office laptop co-developed with Mechrevo features a Visionox AMOLED display, and the water-cooled chassis jointly launched with Chuangke Galaxy adopts a flexible AMOLED curved screen. On the technology front, Visionox's self-developed ViP platform technology serves as the core foundation for mid-size products. The 16-inch ViP plus Tandem technology laptop screen showcased on-site demonstrated improvements in color reproduction, line sharpness, and power consumption, with daily-use power consumption reduced by about 10 percent under 4K ultra-high definition. The company's 8.6-generation production line planned for mid-size applications is steadily advancing and has entered the equipment moving-in and debugging phase, following earlier high-end product supply in the automotive sector. In emerging application scenarios, Visionox debuted electronic badge series products and new designer toy terminals such as smart robots. The electronic badge features a 1.75-inch AMOLED small round screen, integrating Bluetooth and NFC functions to explore a new consumption form that merges OLED screens with the 'guzi economy.' The smart robot uses a flexible screen as a facial interaction window. Behind these innovative products is the continuous implementation of Visionox's '2 plus 3 plus X' new five-year strategy. The company has already achieved mass production supply in multiple directions including smart imaging, smart home, industrial control and medical, and innovative commercial applications.
Visionox expects net loss attributable to parent of 1.402 to 1.97 billion yuan in first half of 2026
Visionox disclosed a performance forecast, expecting a net loss attributable to the parent of 1.402 to 1.97 billion yuan in the first half of 2026, compared with a loss of 1.062 billion yuan in the same period last year. The company expects operating revenue of 3.803 to 4.103 billion yuan for the period, with a net loss after deducting non-recurring items of 1.616 to 2.272 billion yuan, compared with a loss of 1.118 billion yuan a year earlier. The announcement said that due to the explosive growth in artificial intelligence demand, the supply of electronic components such as memory chips is tight and prices have risen sharply, causing a phased impact on the OLED display sector, leading to lower product prices and reduced main business gross margins, while inventory write-down provisions increased. The company stated it will respond to the industry impact through measures such as cost reduction and efficiency improvement, product structure optimization, and enhancing production line operational efficiency.
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Tianma and Visionox Warn of First-Half Losses as Smartphone Sales Slump Hits Panel Industry
Tianma and Visionox have issued earnings forecasts, both warning of losses for the first half. Tianma's net profit attributable to shareholders swung from profit to loss, with an estimated net loss of 720 million to 750 million yuan. Visionox's net profit attributable to shareholders is expected to fall by 32 to 85.5 percent year-on-year, with its net loss widening to 1.4 billion to 1.97 billion yuan. Rapid and sustained price increases for electronic components such as memory have put phased pressure on consumer electronics end-demand and costs. Slumping demand and falling prices for flexible OLED smartphone screens, along with intensifying industry competition, have eroded the profitability of the two companies, for which smartphone screens are a key revenue source. IDC data shows that global smartphone shipments fell 6.7 percent year-on-year to 277.5 million units in the second quarter of 2026, marking a second consecutive quarter of year-on-year decline. Memory costs rose nearly 300 percent year-on-year, and Xiaomi, OPPO, and vivo all posted double-digit shipment declines in the quarter. These manufacturers are the main customers for Chinese panel makers' OLED smartphone panels. CINNO Research statistics show that the average price of flexible OLED smartphone panels fell 17 percent year-on-year in the first half of this year. Analyst Zhou Hua pointed out that Tianma's OLED business profitability has dropped sharply. While its automotive and professional display businesses saw year-on-year revenue and profit growth, this was insufficient to cover the losses and new depreciation. Visionox's revenue is highly dependent on its smartphone OLED panel business, and its product pricing power is relatively weak, causing it to suffer severe damage in the price war. This, combined with high debt financing costs, new expenses from production lines under construction, and depreciation, has led to a widening loss. Facing these challenges, Tianma is strengthening its automotive business, with automotive and professional display businesses together accounting for over 55 percent of total revenue in the first half, and is promoting diversified applications of flexible OLED in wearables, automotive, IT, and other fields. Visionox is stepping up its layout in high-value-added mid-size OLED panel business for IT and automotive applications, and is building an 8.6-generation OLED panel production line in Hefei.
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Visionox Wins Two National Science and Technology Awards in 2025
Visionox, as a core participant, saw two of its collaborative achievements honored at the 2025 National Science and Technology Awards, receiving a second prize in the National Technology Invention Award category and a second prize in the National Science and Technology Progress Award category. The project "Femtosecond Laser Electron Dynamic Regulation Micro-Processing Technology and Applications," conducted in partnership with Beijing Institute of Technology and other institutions, won the second prize for technology invention. This technology achieves breakthroughs in femtosecond laser precision processing, enabling integrated precise cutting and hole-making for flexible OLED modules, and has been applied at scale in multiple mainstream end products. The project "Key Technologies and Equipment for High-Resolution Large-Area Manufacturing of New Displays and Their Industrialization," in collaboration with Shanghai University and other institutions, won the second prize for science and technology progress. This project proposed a transformative self-alignment technology path for high-resolution display patterning, overcame key challenges in large-area display lithography patterning and pixel evaporation, and its results have been promoted and applied across multiple mass production lines.
China