Olaide (688378) announced on the evening of February 14 that it will achieve operating income of 533 million yuan in 2024, a year-on-year increase of 3.00%; the net profit attributable to the owners of the parent company was 90.1673 million yuan, a year-on-year decrease of 26.25%; The net profit attributable to the owners of the parent company after deducting non-recurring gains and losses was 45.2274 million yuan, a year-on-year decrease of 40.11%.

During the reporting period, the domestic OLED panel industry pattern is in a period of dynamic adjustment, upgrading and transforming from the 6th generation line to the 8.6th generation line. In this process, the construction speed of the 6th generation production line slowed down, which directly led to a decrease in the company's equipment business revenue, which in turn exerted downward pressure on the company's profits. In addition, under the general trend of localization and substitution of domestic OLED core materials, the company has further increased R&D investment in existing business areas such as organic light-emitting materials and display photoresist materials, which has led to a decline in the company's profits due to the above reasons.

Olaide is mainly engaged in the R&D, manufacturing, sales and after-sales technical services of terminal materials and evaporation source equipment of organic light-emitting materials in the upstream link of the OLED industry chain.

From 2019 to 2023, the year-on-year changes in net profit attributable to the parent company were 22.01%, -33.82%, 89.19%, -16.93% and 8.16%, respectively, showing a "cold and warm alternation" phenomenon of increasing and declining year by year.

Olaide announced on the evening of February 13 that Shanghai Shengxi, a wholly-owned subsidiary of the company, recently participated in the bidding for the 8.6th generation AMOLED production line project of Chengdu BOE Display Technology Co., Ltd. According to the announcement of the bid evaluation results released by the company, Shanghai Shengxi is the first winning candidate, with a project amount of 600 million to 750 million yuan.

Olaide said that the winning of the above projects is conducive to increasing the company's operating performance, promoting the company's development, and further enhancing the company's brand influence and market share in the 8.6 generation evaporation source market. Based on product delivery and acceptance, it is expected to have a positive impact on the results of FY2025 and FY2026, but the possibility of a delay in revenue recognition cannot be ruled out.