Visionox has a forecast for the first half of 2023, revealing a bleak outlook for the company’s profitability. Visionox anticipates a net loss ranging from 158 million yuan to 178 million yuan (around $24.4 million). After deducting non-recurring gains and losses, the estimated net loss is expected to get to between 160 million yuan and 180 million yuan (around $25 million).
The performance of Visionox in the first half of 2023 is strongly influenced by the accelerated release of OLED production capacity in China and the subsequent price fluctuations experienced by mid- to low-end OLED smartphone products. In response to these market dynamics, the company has adjusted its product strategy to prioritize the development of high-end OLED displays for premium smartphones.
The company projects its operating revenue for the first half of this year from 2.425 billion yuan to 2.725 billion yuan (around $370 million), representing a decline of 20% to 29% compared to the same period last year. Visionox expects a significant surge in operating revenue during the second quarter, with a range of 1.656 billion yuan to 1.956 billion yuan (around $258 million), reflecting a growth rate of 115% to 154% compared to the first quarter. This expected increase is primarily attributed to the gradual release of high-end smartphone models by Visionox’s customers, leading to a continuous rise in shipment volumes and product revenue.
