Shanghai New Vision Microelectronics Co., Ltd. (hereinafter referred to as New Vision Microelectronics) has projected a net profit attributable to the parent company in the range of ¥8 million to ¥10 million (~$1.1 million to $1.4 million) for the year 2024, representing a decrease compared to 2023. Additionally, the company’s non-recurring net profit attributable to the parent company is expected to be in the negative.

Reasons for Performance Decline
The decline in New Vision Microelectronics’ performance can be attributed to two main factors:
- Intense Competition Despite Industry Recovery: Although the semiconductor display industry has shown signs of recovery, the competitive landscape remains highly intense. The sales prices of certain products used in consumer electronics have faced downward pressure, leading to a decrease in gross profit margins and, as a result, a decline in net profit compared to the same period last year.
- Focus on Core Business and Expanding Product Applications: New Vision Microelectronics is focused on its core business and has been continuously expanding and enriching the applications of its products based on market and customer demands. This strategy has led to further development of its product line, which, in turn, has resulted in an increase in R&D expenditures.
2024 Q3 Financial Performance
According to the Q3 2024 financial report, New Vision Microelectronics posted a main business revenue of ¥343 million ($47.2 million), a year-on-year decrease of 2.23%. The net profit attributable to the parent company amounted to ¥3.42 million ($472,000), a year-on-year decline of 89.35%. The non-recurring net profit attributable to the parent company was ¥2.83 million ($389,000), down by 91.3%. For the third quarter of 2024, main business revenue stood at ¥112 million ($15.4 million), a decrease of 14.98% year-on-year. The net profit for the quarter was ¥6.79 million ($926,000), an impressive increase of 352.01% year-on-year. However, the non-recurring net profit was just ¥312,000 ($43,000), representing a decline of 94.17%. The company’s debt ratio stood at 13.62%, with investment income of ¥573,000 ($79,000), and financial expenses of –¥15.64 million (-$2.1 million), resulting in a gross profit margin of 15.62%.
Semiconductor Industry Outlook in 2024
In 2024, the semiconductor industry is showing signs of recovery. The semiconductor display chip sector is witnessing continued improvement in business conditions, and companies are actively innovating both in terms of technology and products to gain an edge in the increasingly competitive market.
Chen Xiu Hua, the Secretary of the Board of New Vision Microelectronics, recently shared in an interview that the downstream demand in the display chip industry continues to improve. The growth of end markets such as 5G, AI, and the Internet of Things (IoT) will drive the upgrading and iteration of display driver chips. There is significant potential for domestic substitution in the display driver chip market in the future.
Focus on Display Chip Development
The core business of New Vision Microelectronics is focused on the research, design, and sales of display chips. The company is committed to providing comprehensive display chip system solutions. Its products mainly include integrated display chips, separated display driver chips, and display power management chips, among others.
Introduction of Micro LED Concept
In 2024, New Vision Microelectronics introduced the “Micro LED” concept into its investment portfolio. This decision was driven by one of the company’s investment projects, namely the Shanghai Advanced Display Chip R&D Center Construction Project. This center is primarily dedicated to the development of high pixel density Mini/Micro LED driver chips as well as VR/AR advanced display driver chips. The project is progressing smoothly.

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