BOE, Tianma, TCL CSoT, EDO and Visionox all post improved quarterly earnings

Recently, BOE, Tianma, TCL, EDO and Visionox all posted their financial results for Q2 2024, and all were rather positive. Samsung Display and LG Display also posted increased earnings for the quarter.

So we start with BOE, that posted revenues of 93.4 billion yuan (13.17 billion USD) for the first half of 2024, an increase of 16.47% over H1 2023. Its net profit increased 210% compared to last year (2.285 billion Yuan, or $320 million USD). BOE enjoyed increased LCD sales and optimized production, and also noted high demand for high-end foldable OLED displays.

TCL's revenue in Q2 2024 were 49.9 billion Yuan ($7 billion USD) , with a net profit of 2.7 billion Yuan (380 million USD). It's profit decline for the first six months by 5.8%, but its profit increased by 192.3%. TCL reported increase sales of large-size and high-end LCD TVs, in addition to increased adoption of mid-range IT and automotive LCD panels. For its OLED business, TCL reported significantly increased shipments, with 39 million flexible OLED panels shipped in H1 2024, a 180% increase over last year. Tianma reports that it started to ship new OLED products, including foldable OLEDs, LTPO-based OLEDs and polarizer-less OLEDs.

Tianma reported a reduced loss of 490 million Yuan ($70 million USD) in the first half of 2024, down from 1.5 billion Yuan ($212 million USD) a year ago, over revenues of 15.9 billion Yuan ($2.25 billion USD). The company reported significant growth in its automotive and OLED businesses. Tianma says its flexible OLED smartphone panel shipments grew over 80% from the first half of 2023.