Visionox Technology Inc. 2025 Annual Report of the Board of Directors
In 2025, Visionox Technology Inc. (hereinafter referred to as "the Company" or "Visionox") strictly abided by the provisions of the Company Law, Securities Law, Shenzhen Stock Exchange Stock Listing Rules, Articles of Association, and Rules of Procedure for Board of Directors Meetings, diligently performed the duties entrusted by the shareholders' meeting, operated diligently and regulated, made scientific decisions, and actively promoted the steady development of the Company's various businesses, safeguarding the legitimate rights and interests of the Company and shareholders. In terms of company management, the Board of Directors closely focused on the Company's overall development goals, centered on the annual operating plan, and maintained the steady operation of production and business.
The work of the Board of Directors in 2025 is hereby reported as follows:
I. Review of Operating Conditions in 2025
During the reporting period, the Company, guided by the "One Strong, Two New" mid-term development strategy and annual operating objectives, consolidated its leading advantage in the emerging display field, continuously optimized its product structure, and focused on OLED display products for key customers. The Company supplied multiple products to customers, with shipments continuing to grow. In 2025, the Company achieved operating revenue of RMB 8.144 billion, a year-on-year increase of 2.72%, of which OLED product revenue was RMB 7.874 billion, a year-on-year increase of 5.07%.
Customer Structure Balanced, New Market Development Achieved Significant Results
During the reporting period, the Company continued to deepen its customer service system, expand its diversified brand customer base, and its overseas subsidiaries continued to explore markets, maintaining a balanced and healthy customer structure. It also strengthened strategic cooperation with leading brand customers, increasing its share of high-end product series supply. Currently, the Company's cooperation scope covers AMOLED products of all sizes, including smartphones, smart wearables, tablets, laptops, and automotive displays, as well as emerging application scenarios such as smart imaging and smart home.
The customer balance for the smartphone business has been further enhanced, achieving full coverage of high, mid, and low-end products with core brand customers, maintaining its leading market share in the industry. Product shipments in the smart wearable sector continue to lead. The automotive display business has proactively laid out the intelligent cockpit display sector, launching flexible AMOLED solutions in various forms such as rollable, curved, and flat. Among these, the world's first sliding and rollable automotive central control solution has achieved mass production and is applied in the Hongqi Guoya high-end executive sedan. In the emerging application market sector, the Company has actively expanded into diversified scenarios such as smart terminals, smart imaging, smart mobility, smart home, industrial control and medical, and innovative commercial applications, achieving mass production and supply, and continuing to expand and deepen cooperation with brand customers.
Adhering to Technological Innovation, Promoting Full-Size AMOLED Development
During the reporting period, the Company focused on small, medium, and large-size AMOLED applications, continuously deepening its efforts in key areas such as low power consumption, high performance, under-display integration, eye protection display, and flexible form factors, maintaining continuous innovation in technology and products.
ViP technology upgrade has enabled mass production capabilities for multi-size AMOLED applications including watches, mobile phones, and laptops, driving OLED towards further optimization, expansion, and strength. On April 9, 2026, after being assisted and reviewed by experts organized by the Liquid Crystal Branch of the China Optics and Optoelectronics Industry Association, this technology was unanimously recognized as "reaching the international leading level." Wearable products equipped with ViP technology have achieved mass production and shipment, marking a key breakthrough from technological innovation to industrial application.