Tianma Reports Q1 2024 Results; Strong Growth in OLED Shipments Despite Financial Losses

In its first quarter performance report for 2024, Tianma disclosed a marginal increase in operating income but a significant net loss. The report highlighted a year-on-year operating income increase of 0.54% to 7.7496 billion yuan ($1.01 billion). However, the company reported a net loss attributable to shareholders of the listed company at -301 million yuan, with losses deepening to -563 million yuan ($77.7 million) after adjusting for non-recurring gains and losses.

Despite these financial setbacks, Tianma showed remarkable growth in its flexible OLED mobile phone module shipments, which have increased by over 250% compared to the previous year, propelling the company to the second-largest market share in China. Looking ahead, Tianma is focused on expanding its production capabilities, with significant developments planned for its TM17 and TM18 production lines.