For the first three quarters of 2024, Tianma reported total revenues of 24.01 billion yuan ($3.29 billion), a YoY decline of 2.78%. The company did manage a profit turnaround in Q3, with net income attributable to shareholders reaching 16.77 million yuan ($2.30 million), after a loss of 365.96 million yuan ($50.13 million) in the same period last year.
Despite competitive and pricing challenges in the automotive sector, Tianma’s display revenue for automotive applications increased over 40% YoY, according to the company. Its LTPS technology has seen rapid adoption in automotive displays, achieving a 250% YoY revenue increase. Tianma’s project pipeline includes high-value opportunities in OLED, local dimming, and advanced display applications like panoramic HUD.
The TM17 flexible AMOLED smartphone display line contributed over 20% of total revenue and grew by more than 25% YoY. With rising demand for foldable and high-specification OLED panels, Tianma expects ongoing expansion and profitability improvements in this area.
Tianma’s OLED business also experienced substantial growth, with production line shipments rising approximately 76% YoY. Continued advancements in flexible OLED technology and deeper integration with key brand partners are driving this growth. As capacity for high-throughput and foldable displays expands, Tianma projects sustained growth in both scale and technical offerings.
Both TM19 and TM20 lines are in trial production, progressing with new product developments and client engagements. TM19 has multiple product types in development, while TM20 has initiated IT and automotive module production.
