Net profit increased by up to 203%. Five companies, including Absen and Hisense Visuals, released their earnings reports.

Source: Insider Talk

Recently, companies including Absen, QD Vision, Hisense Visual, NAURA Microelectronics, and MediaTek Optoelectronics released their 2025 performance reports.

▋ Absen: 2025 net profit doubles year over year

In 2025, Absen achieved operating revenue of approximately RMB 4.16B, up 13.53% year over year. Net profit attributable to shareholders of the listed company was RMB 252 million, up 115.47% year over year; net profit after deducting non-recurring gains and losses was RMB 230 million, up 202.90% year over year. Based on the data, Absen’s performance has improved comprehensively. While revenue grew steadily, profits also doubled. Moreover, both profitability quality and operating efficiency have increased significantly; and its overseas business has maintained a solid growth trend, while the domestic business has broken through against the odds.

More specifically, Absen’s overseas market achieved operating revenue of approximately RMB 3.18B, up about 8.41% year over year. With overall demand in the LED display industry in the domestic market remaining soft, Absen implemented key measures such as focusing on high-quality customers, optimizing its product structure, and adjusting channel strategies. As a result, operating revenue reached RMB 981 million, up 34.02% year over year, successfully achieving growth against the trend. In response to different market conditions at home and abroad, Absen also flexibly adjusted its strategy to continue optimizing resource allocation and market structure under the new economic environment, aiming for sustainable, high-quality growth in performance.

Regarding production capacity, in 2025 Absen sold 413,581.11 square meters of LED display products, up 16.26% year over year; the increase in production volume year over year was even higher at 37.56%, providing support for sales growth. In terms of R&D investment, Absen’s R&D expenses in 2025 were RMB 184 million, and its cumulative R&D investment over the past five years has reached RMB 754 million.

Over the past year, Absen has rolled out its display solutions in multiple large domestic and international projects, including delivering the world’s largest COB curved screen, lighting up the world’s largest single-unit virtual studio, providing over 2,000 square meters of large display screens for Vietnam’s 80th National Day celebration, and providing nearly 1,000 square meters of core display systems for the 2025 15th National Games. On the product side, Absen’s “big single product” strategy has reaped positive market feedback. Among them, the A25 product platform’s signed contract value exceeded RMB 1 billion in 2025; and the new product NT V2 reached 100k units in sales within just 4 months after its launch.

▋ Hisense Visual: New display and new business drove main business revenue to RMB 100k

In 2025, Hisense Visual achieved operating revenue of RMB 8.46B and attributable net profit to shareholders of RMB 57.68B, up 9.24% year over year; net cash flow generated from operating activities was RMB 2.45B, up 27.43% year over year.

In 2025, Hisense Visual firmly and unswervingly advanced its strategy of “premiumization, large-screening, and intelligentization.” Main business revenue grew steadily, while its second-curve new display business delivered impressive results. During the reporting period, the new display business achieved main business revenue of RMB 4.58B, up 24.92% year over year, becoming an important growth engine for the company.

In product mix, the trend toward large screens and premiumization has shown clear results. From 2022 to 2025, the average screen size of Hisense Visual TV products increased from 50.44 inches to 53.63 inches. The sales revenue share of products of 65 inches and above rose from 44% to 56%; the sales revenue share of products of 75 inches and above rose from 21% to 39%; and the sales revenue share of products of 98 inches and above rose from 1% to 7%. At the same time, Mini LED shipment volume increased significantly, and the sales revenue share rose from 2% to 24%, effectively driving steady growth in domestic and overseas brand price indices.

In terms of technological innovation, Hisense Visual’s self-developed ULED premium display technology platform achieved a leapfrog upgrade. The RGB-Mini LED technology has ushered the industry into the “light and color synchronized control” era. While consolidating its core business advantages, Hisense Visual also actively lays out emerging areas such as laser display, commercial display, Micro LED, AI robots, chips, and others, accelerating the formation of its second growth curve.

Among them, the commercial display business achieved explosive growth: full-year revenue increased 265% year over year. The business covers 87 countries. Its global shipment volume of interactive flat panels ranks second, and first overseas. Overseas growth rates for digital signage and LED display businesses were 53% and 48%, respectively. It has formed differentiated competitive advantages in scenarios such as education, conferences, and retail.

In the Micro LED field, Hisense Visual has built end-to-end vertical integration capabilities across the entire industry chain. It launched the world’s first PM-driven Micro LED product certified through EMC Class B, and will debut a 163-inch four-color (RGBY) Micro LED product at the 2026 CES exhibition.

In addition, Hisense Visual strategically holds controlling stakes in Xinxin Micro and Qian Zha Optoelectronics, and builds a matrix of full-display chips for mid-to-large sizes. In 2025, the global market share of TV TCON chips was about 45%; the share in the monitor TCON market increased to about 12%; mass production breakthroughs were achieved in the TCON field for laptops. Revenue from Mini LED backlight chips increased by about 70% year over year.

▋ Qian Zha Optoelectronics: Backlight business grew over 70% year over year

In 2025, Qian Zha Optoelectronics achieved operating revenue of RMB 8.46B, up 39.78% year over year; attributable net profit was RMB 115 million, up 19.32% year over year.

During the reporting period, Qian Zha Optoelectronics focused on its core business and continuously enriched its market expansion strategies; meanwhile, performance in new areas achieved major breakthroughs. Among them, with active guidance from the controlling shareholder, the company’s self-developed high-performance RGB-Mini LED backlight chips have been applied in terminal TV customers such as Hisense. It also innovatively launched the “Linglong 4-chip” solution, which features a fourth type of sky-blue self-emissive chip. Combined with Mini COB multilayer oxide optical control and Mini RGB mixed-layout technology, it drove backlight business revenue to grow by more than 70% year over year.

In addition, the company continued to expand the application scenarios of its automotive business; delivery scale continued to grow, driving automotive business revenue to increase by more than 170% year over year. Its solar cell business maintained continuous technological breakthroughs and product upgrades; production capacity and delivery capability improved steadily, and shipment volume rose by more than 30% year over year.

In terms of core technologies, Qian Zha Optoelectronics, together with its controlling shareholder, co-developed globally leading high-performance RGB-Mini LED backlight chips. It was the first globally to introduce three-dimensional color control display technology. On this basis, it further tackled the flip-chip three-dimensional passivation technology for RGB three-color backlight chips. The chip aging life improved by 200%, and high-voltage chips achieved stable mass production. This helped Hisense Visual launch COB RGB three-color premium backlight TVs ahead of others, strongly consolidating its technical and market advantages in the premium backlight field.

The commercialization process of Micro LED accelerated significantly. Micro MIP chips obtained mass production certification from industry-leading companies and began small-batch shipments. Micro COG chips, which are used in large-screen and smart wearable products, achieved technological breakthroughs and are moving forward with international customer certification. For incremental markets such as automotive use and AR, Micro LED pixel car headlight performance upgrade is approaching international top-tier standards. AR micro-display chip technology continues to iterate and has process capability below 5μm.

For VCSEL data optical communications, the 10G/25G products completed sample submission, and it is expected to form formal orders and deliver in 2026. The 50G/100G products have entered the wafer fabrication stage. For Micro LED optical communications, the company actively carries out industry-academia-research collaborations with universities and enterprises, and develops several dedicated chips in a targeted manner; it has entered the sample-submission and validation stage.

▋ NAURA Microelectronics: Achieved operating revenue of RMB 3.4B

In 2025, NAURA Microelectronics achieved operating revenue of RMB 12.39B, up 36.62% year over year; it achieved net profit attributable to owners of the parent company of approximately RMB 12.39B, up approximately 30.69% year over year.

NAURA Microelectronics mainly provides etching equipment, thin-film deposition equipment, MOCVD equipment, and other equipment to manufacturers of semiconductor products such as integrated circuits, LED epitaxial wafers, power devices, MEMS, and more.

Currently, NAURA Microelectronics has made good progress in the development of MOCVD equipment for Micro-LED and high-end display fields. In 2025, it completed mass production verification for industry-leading Micro-LED epitaxial companies. Special equipment for AsP materials for red light LEDs and Mini-LED has also been sent to display-leading IDM companies for mass production verification. Other applications, including red light Micro-LED and optoelectronic materials epitaxy, are also being gradually advanced.

According to NAURA Microelectronics, MOCVD equipment used for Micro-LED premium displays has more stringent technical requirements for epitaxial wafers, such as uniformity of output wavelengths and granularity, so as to reduce manufacturing costs for Micro-LED applications and accelerate the rollout of high-quality display applications. The main directions for MOCVD equipment development will include improving output wavelength uniformity, reducing epitaxial wafer granularity, enhancing equipment automation performance, and improving large-size epitaxial wafer growth capability.

▋ MediaTek Optoelectronics: Small-batch production achieved in MEMS device field (MicroLED, etc.)

In 2025, MediaTek Optoelectronics achieved operating revenue of approximately RMB 664 million, up 36.72% year over year; net profit attributable to shareholders of the listed company was negative RMB 157 million, and net profit after deducting non-recurring gains and losses was negative RMB 159 million.

During the reporting period, the growth in operating revenue mainly came from semiconductor packaging and testing, semiconductor acousto-optics, and a contribution from a new mass-produced product. Specifically, semiconductor packaging and testing business sales revenue increased by approximately RMB 2.11B; semiconductor acousto-optics business sales revenue increased by approximately RMB 87.1053 million; the semiconductor process bonding prism product that started mass production and deliveries in November 2025 achieved sales revenue of approximately RMB 10.9692 million. In addition, MediaTek Optoelectronics achieved small-batch production in the MEMS device field (including MicroLED), bringing sales revenue of RMB 4.2558 million.

MediaTek Optoelectronics’ principal businesses cover R&D, manufacturing, and sales in areas such as semiconductor acousto-optics, semiconductor micro-nano circuits (mainly MEMS), semiconductor packaging and testing, precision optics, and micro-nano optics. Its products and solutions are used in multiple downstream fields including communications, consumer electronics, intelligent vehicles, low-altitude economy, and artificial intelligence.

In the highly watched MicroLED display field, MediaTek Optoelectronics disclosed that it has achieved phased progress. Based on its existing processes for coating, exposure, and developing photolithography, together with precision thin-film deposition, bonding, wet etching, and ICP dry etching processes, and by introducing inorganic lens processing technology, it has built a key MicroLED process platform. Currently, the end-to-end process development of the MicroLED project has been successful; it has achieved mass production and is gradually ramping up production volumes.

For its development plan in 2026, MediaTek will focus on the core optoelectronic semiconductor track, drive production volume ramp-up of new products such as semiconductor process bonding prisms and MicroLED, and deepen strategic cooperation across the upstream and downstream of the industry chain. It will continue to expand overseas markets, leveraging local teams to enhance global service response capabilities. It will deepen the integration of automation, informatization, and intelligent applications, promote digital upgrades at its production bases, and improve operational efficiency and quality control levels across the entire value chain.

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