Leyard, Zhaochi, Nationstar and other 5 companies released their latest results

Recently, Leyard, Zhaochi, Nationstar Optoelectronics, Jucan Optoelectronics, Xiamen Xinda and other companies disclosed their latest performance reports.

■ Leyard: Revenue in the first quarter of 2026 is approximately 1.304 billion yuan

Leyard announced its first quarter report for 2026. In the first quarter, Leyard achieved operating income of approximately 1.304 billion yuan; net profit attributable to the parent company was 17.0129 million yuan; non-net profit after deducting was 3.4938 million yuan.

During the reporting period, the main reasons for changes in Leyard's performance are as follows:

1) The market continues to differentiate, and price competition is still relatively obvious in China and Asia, Africa and Latin America. The company's orders in this region are less than expected. However, in Europe and the United States, which is dominated by the mid-to-high-end market, the market momentum is relatively high, and revenue has achieved a growth rate of more than 20%;

2) Firmly implement the "profit-centered" business strategy and proactively reduce projects with high risk of repayment, low gross profit margin and no technology brand premium. During the reporting period, the comprehensive gross profit margin increased from 26.52% to 31.42% year-on-year;

3) Due to the decline in revenue, profits fell simultaneously, and at the same time, the depreciation of the US dollar during the reporting period caused the company to suffer an exchange loss of 19.47 million yuan, resulting in a year-on-year decline in net profit.

The report also pointed out that in the future, Leyard will continue to expand its competitive advantages in the European and American markets. At the same time, it will use the Saudi factory that will be put into production in the second half of 2026 as an opportunity to increase investment in market development in Asia, Africa and Latin America, and further increase the overseas market share of the display business. In addition, the company will continue to promote cost reduction and efficiency improvement in company management, increase project payment collection and settlement efforts, and fully support the R&D layout and application expansion of Micro LED, Optitrack motion capture technology and various emerging industries to enhance competition barriers and profitability.

■ Zhaochi Shares: In 2025, the entire LED industry chain will achieve revenue of 5.725 billion yuan

On April 24, Zhaochi Shares released its 2025 annual results and first quarter report for 2026.

In the first quarter of 2026, Zhaochi achieved revenue of 4.18 billion yuan, a year-on-year increase of 12.28%; the net profit attributable to shareholders of the listed company was 210 million yuan, a year-on-year decrease of 37.34%.

In 2025, Zhaochi Co., Ltd. achieved revenue of 17.807 billion yuan and net profit attributable to shareholders of listed companies of 1.303 billion yuan; during the reporting period, the company's net cash flow generated from operating activities was 3.304 billion yuan, an increase of 339.95% year-on-year.

During the reporting period, Zhaochi Technology formed a main business system covering four major sectors: intelligent terminals, LED entire industry chain, optical communications industry chain, and digital entertainment creation and distribution. Among them, the entire LED industry chain achieved operating income of 5.725 billion yuan, a year-on-year increase of 7.41%; net profit was 871 million yuan, accounting for more than 60% of the profit contribution, and has become its main profit contribution sector. Zhaochi Semiconductor achieved revenue of approximately 2.817 billion yuan and net profit of approximately 744 million yuan; Zhaochi Crystal Display achieved revenue of approximately 1.383 billion yuan and net profit of approximately 226 million yuan.

According to the announcement, in the field of new displays, Zhaochi's monthly shipment volume of Mini RGB chips is as high as 15,000KK units; the shipment area of Mini/Micro LED display products has doubled year-on-year. Based on the P1.25 dot pitch, its monthly production capacity of Mini/Micro LED display modules has reached 25,000 square meters.

In terms of Mini LED backlight, Zhaochi has further optimized the design of the Mini LED backlight production line to fully meet the needs of large-size TV applications, and has laid out POB and COB dual technology routes in the RGB-Mini LED field. The relevant technical solutions have been recognized by major brand manufacturers; at the same time, it has actively deployed in the automotive Mini LED backlight market, launched customized solutions for automotive scenarios, and successfully completed the launch of automotive-grade products and market expansion.

During the reporting period, Zhaochi also accelerated the investment progress in the optical communications industry chain and promoted the optical communications industry chain to become the company's third growth curve. At present, a vertical industrial chain layout covering optical chips, optical devices, and optical modules has been successfully established, with coordinated development of all links and continuous improvement of core competitiveness. Optical devices/optical modules have successfully turned losses into profits. Among them, BOSA device products account for 40% of the market. Optical modules used at 200G and below rates have achieved large-scale production and mass shipments. 400G/800G optical modules have entered the small-batch production stage after completing reliability testing and are steadily advancing to large-scale mass production. In terms of optical chips, as of the report disclosure date, the 2.5G DFB laser chip has been verified by leading customers.

■ Nationstar Optoelectronics: Achieved revenue of 616 million yuan in the first quarter of 2026

On April 24, Nationstar Optoelectronics released its first quarter report for 2026. In the first quarter of 2026, Nationstar Optoelectronics achieved revenue of approximately 616 million yuan, a year-on-year decrease of 19.66%.

According to the 2025 annual report, Nationstar Optoelectronics continues to consolidate and develop the three pillar businesses of high-definition display, photoelectric sensing, and display control modules, and cultivate and expand the two emerging businesses of automotive electronics and advanced semiconductor packaging and testing. During the reporting period, emerging businesses gradually became its new growth engine, with display and control modules, vehicle LEDs, smart sensing, etc. all achieving steady expansion and growth.

In terms of core business, Nationstar Optoelectronics has stabilized the basic RGB high-definition display, extended to the value chain to deliver display panels, and successfully lit up 4K display modules; it invested in the construction of micro-pitch full-color display panel projects, adding a monthly MIP production capacity of 1,200kk. In terms of emerging businesses, the display and control module business and intelligent sensing business have steadily expanded in scale, and the vehicle-mounted business has entered the supply chain of mainstream car companies.

In terms of capital operation, Nationstar Optoelectronics' refinancing project was accepted by the exchange and continued to promote mergers and acquisitions in areas such as automotive electronics, optoelectronic sensing, and controllers; the MIP expansion project reached production, the Mini backlight and COB module production lines were officially put into production, and the wearable and optocoupler expansion projects doubled their production capacity after reaching production.

In terms of technological innovation, product iteration and scene expansion, Nationstar Optoelectronics has launched the "MIP + module + lamination process" AS panel and a variety of new MIP series products in the field of micro-pitch display. It has independently developed a substrate-less MIP0202 device based on Micro chips and floor-standing air conditioner display RGB direct display technology. In terms of backlight, its Mini RGB large-size backlight products have entered the Hisense video supply chain.

■ Jucan Optoelectronics: In the first quarter, GaAs-based red and yellow light business increased by 3548.31% year-on-year

Jucan Optoelectronics released its first quarter report for 2026. During the reporting period, the company achieved revenue of 419 million yuan, a year-on-year decrease of 42.71%; net profit attributable to the parent company was 29.5942 million yuan, a year-on-year decrease of 51.83%; non-net profit after deduction was 26.6621 million yuan.

The announcement shows that the company’s operating income, net profit attributable to shareholders of listed companies, net profit after non-recurring gains and losses attributable to shareholders of listed companies, and net cash flow generated from operating activities decreased compared with the same period last year. Mainly affected by the "Announcement on Taxation Policies Regarding Gold" (Announcement No. 11 of the Ministry of Finance and the State Administration of Taxation in 2025), the company adjusted its gold scrap disposal model from external sales to outsourcing processing and reuse.

Specifically, in the first quarter of 2026, the company's main business revenue was 359.9076 million yuan, a year-on-year increase of 12.97%; while GaN-based blue and green light business revenue increased by 3.37% year-on-year, GaAs-based red and yellow light business revenue was 31.4667 million yuan, a year-on-year increase of 3548.31%. The company stated that the sales scale of GaAs-based red and yellow light business was still in the stage of rapid growth in the first quarter, and the revenue and benefits were not obvious. With the continuous release of production capacity in the second quarter and the large-scale mass production of multiple products, the revenue increase will be more obvious, and the economic benefits are worth looking forward to.

At the same time, other business income was 59.0977 million yuan, a year-on-year decrease of 85.68%, mainly due to the change in the gold scrap disposal model, which was adjusted from external sales to outsourcing processing and reuse, and the corresponding income and cost of gold scrap sales were no longer recognized.

In addition, in terms of project progress, in the first quarter, the company actively promoted the "annual production of 2.4 million red and yellow epitaxial wafers and chips project". The first phase of monthly production of 100,000 wafers has been achieved, which is close to full production. The second phase of the second phase of monthly production of 100,000 wafers. The main production equipment has been basically debugged and will be delivered to production. In terms of products, Mini direct display products have been stably supplied to many leading companies in the industry. Many products for vehicle lighting and plant lighting have passed customer verification and are about to enter the stage of large-scale mass production.

■ Xiamen Cinda: Revenue in 2025 is 32.378 billion yuan

Xiamen Cinda released its 2025 annual report and first quarter results for 2026.

In the first quarter of this year, Xiamen Cinda achieved total operating income of 7.637 billion yuan, a year-on-year increase of 8.93%; net profit attributable to the parent company was 10.753 million yuan, a year-on-year increase of 33.47%; non-net profit after deducting was -19.4037 million yuan.

In 2025, Xiamen Cinda achieved operating income of 32.378 billion yuan, a year-on-year decrease of 26.19%; net profit attributable to the parent company was 15.2422 million yuan, a year-on-year increase of 101.88%; non-net profit after deducting -402.0031 million yuan, a year-on-year increase of 61.65%.

According to the announcement, Xiamen Cinda's main businesses include the supply chain sector, digital technology sector, electronic technology sector, and automobile distribution sector; during the reporting period, the company dynamically adjusted resource allocation and development strategies, divested automobile distribution business, concentrated resources to accelerate the transformation and upgrading of core businesses, and improved quality and efficiency, and its operations gradually stabilized.

Among them, the electronic technology segment covers the Internet of Things business and optoelectronic business. In 2025, Xiamen Cinda will differentiate its display packaging business in the field of optoelectronics while enriching and developing the lighting application market. During the reporting period, profits decreased year-on-year. Successfully implemented a number of domestic key lighting projects, and relied on Alibaba International Station to build an online global operation channel, driving sales revenue of lighting application business to increase by 226% year-on-year. It has deployed high-value-added fields such as engineering lighting and commercial photography, and entered high-end customized markets such as outdoor energy-saving screens, DCI movie screens, and light-transmitting screens. The proportion of new display screen packaging products has continued to increase.