Tianshan Electronics' complex module revenue surges 3,394%, integrated module track opens growth space

Earnings
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Summary · why it matters

Tianshan Electronics' complex module business achieved operating revenue of 34.9032 million yuan in 2025, a year-on-year surge of 3,394.32%, becoming the company's new growth engine. The company's total annual revenue was 1.786 billion yuan, up 20.96% year-on-year, of which color LCD display module revenue was 1.189 billion yuan, up 31.67%, forming the revenue base. Complex modules integrate display, touch, main control circuit boards, structural components, and embedded software systems, providing downstream terminal customers with one-stop integrated hardware solutions, covering mainstream terminal tracks such as industrial control equipment, new energy vehicle cockpits, and whole-house smart control panels. The company has long supplied leading terminal manufacturers such as Honeywell, BYD, Daikin, and Hikvision, benefiting from domestic demand market expansion and industrial digitalization policy dividends, with downstream demand continuing to increase. Industry insiders analyze that the three main policy themes of boosting domestic demand, new infrastructure, and smart terminal popularization will continue to boost downstream terminal demand for Tianshan Electronics, and the growth momentum of high-value-added complex modules is expected to be sustained.

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Complex module revenue surged 3,394% and total revenue up 20.96%, driven by downstream demand from industrial digitalization and smart terminal trends.

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