Tianma Microelectronics Co., Ltd. (000050.SZ) Bundle
From its founding in Shenzhen in 1983 to its 1995 listing as 000050.SZ, Tianma Microelectronics has evolved through a string of strategic fab expansions - Gen 4.5 sites in Shanghai, Chengdu and Wuhan, a Gen 5 line in 2009, and the Xiamen Gen 6 AMOLED line (Phase 1 in 2020, Phase 2 completed by 2023) now recorded as the largest single AMOLED fab in China - while building a global footprint of production bases and R&D centers that support a workforce of about 22,580 employees and diversified products spanning TN/STN, TFT-LCD, LTPS, AMOLED, flexible and Mini/MicroLED displays; the company, driven by a mission "To Create Colorful Life" and targets such as a 25% global display market share goal by end-2024 and a planned 30% carbon-cut reduction vs. 2020, monetizes its technology through design, manufacturing and services across automotive, medical, IT and mobile segments, delivering 33.49 billion CNY in 2024 revenue and reporting 9.19 billion CNY for the quarter ending September 30, 2025, while investing in next-gen capacity including a $164 million microLED pilot line and ¥500 million in AMOLED/Mini-LED development to capture future growth.
Tianma Microelectronics Co., Ltd. (000050.SZ): Intro
History- Founded in Shenzhen, China, in 1983, initially manufacturing twisted nematic liquid crystal displays (TN‑LCDs).
- Publicly listed on the Shenzhen Stock Exchange in 1995 under ticker 000050.SZ.
- 2006: Built a Gen 4.5 a‑Si TFT‑LCD fab in Shanghai, entering more advanced TFT‑LCD production.
- 2008: Added Gen 4.5 fabs in Chengdu and Wuhan to diversify manufacturing footprint.
- 2009: Commissioned a Gen 5 fab in Shanghai to increase panel sizes and throughput.
- 2020: Launched Phase 1 of the Xiamen Gen 6 AMOLED production line, beginning large‑area OLED production.
- 2023: Completed Phase 2 expansion of the Xiamen Gen 6 AMOLED line; recognized as the largest single AMOLED fab in China by area and installed capacity.
| Year | Event |
|---|---|
| 1983 | Company established in Shenzhen - TN‑LCD manufacturing |
| 1995 | Listed on Shenzhen Stock Exchange (000050.SZ) |
| 2006 | Gen 4.5 a‑Si TFT‑LCD fab in Shanghai |
| 2008 | Gen 4.5 fabs in Chengdu & Wuhan |
| 2009 | Gen 5 fab in Shanghai |
| 2020 | Xiamen Gen 6 AMOLED Phase 1 launched |
| 2023 | Xiamen Gen 6 AMOLED Phase 2 completed - largest single AMOLED fab in China |
- Listed public company on Shenzhen Stock Exchange (ticker 000050.SZ) with a mix of institutional investors, retail shareholders and corporate insiders.
- Corporate governance includes a board of directors, supervisory board and executive management headquartered in China; manufacturing sites across multiple Chinese cities.
- Operates as an integrated display manufacturer - R&D, fabs, module assembly and downstream customer support.
- Mission: To be a leading global display solutions provider by advancing display technology (TFT‑LCD and AMOLED) and scaling industrial capacity.
- Strategic priorities: transition to OLED/AMOLED, scale Gen‑6 production, increase yield and panel value through higher resolution and specialized displays (automotive, industrial, wearable).
- R&D emphasis on material stacks, LTPS/oxide backplanes, pixel driving circuitry, flexible substrates and process yield optimization to meet smartphone, automotive and IoT specifications.
- Technology platforms: a‑Si TFT‑LCD (legacy), LTPS/oxide TFT, and Gen‑6 AMOLED for medium‑to‑large panels.
- Fab strategy: multi‑site Gen 4.5/5 fabs for TFT‑LCDs and centralized large‑area Gen‑6 AMOLED capacity (Xiamen) to capture scale economies.
- Vertical capabilities: glass substrate processing, TFT backplane fabrication, OLED deposition (evaporation/encapsulation), panel module assembly and testing.
- Customer integration: works with OEMs/ODMs for custom panel specifications, qualification, and supply‑chain alignment for high‑volume consumer electronics and automotive programs.
- Panel sales: revenues from selling TFT‑LCD and AMOLED display panels across smartphone, smart devices, automotive, industrial and wearable segments.
- Module and system integration: higher‑margin assembly and module business packaging panels with driver ICs, touch sensors and mechanical frames.
- Customization & long‑term contracts: multi‑year supply agreements with OEMs/ODM customers for volume stability and design wins.
- After‑sales and technical services: testing, warranty support and co‑engineering for advanced display features (HDR, high refresh, automotive certifications).
| Technology | Main Applications | Competitive Strength |
|---|---|---|
| TFT‑LCD (a‑Si, LTPS) | Industrial displays, low‑to‑mid smartphones, consumer electronics | Established capacity, cost efficiency for large volumes |
| AMOLED (Gen‑6) | Smartphones, high‑end wearables, automotive clusters, AR/VR displays | Large single‑fab scale, improved yield focus, higher value per panel |
| Modules & Integrated Solutions | Automotive HMI, industrial panels, customized OEM modules | Value‑added margins, integration capability |
- Xiamen Gen‑6 AMOLED: phased buildout (2020 Phase 1; 2023 Phase 2) to become China's largest single AMOLED fab by installed area and substrate throughput.
- Multi‑fab footprint (Shanghai, Chengdu, Wuhan, Xiamen, others) provides geographic diversification of production and supply risk mitigation.
- Focus on migrating higher revenue share toward AMOLED and automotive/industrial displays with higher ASPs than commodity LCDs.
- Revenue composition trends: historically LCD dominated; strategic shift toward AMOLED aims to increase ASP and gross margin over time.
- Capital intensity: heavy capex for Gen‑6 OLED fabs and upstream equipment; near‑term capital deployment concentrated on yield ramp and capacity utilization.
- Customer concentration: typical industry pattern of dependence on several large OEMs/ODM customers; design wins and long‑term contracts critical to utilization and margins.
Tianma Microelectronics Co., Ltd. (000050.SZ): History
Tianma Microelectronics Co., Ltd. (000050.SZ) was founded in the 1980s and evolved from a small electromechanical display workshop into one of China's leading display manufacturers, expanding through technology investment, strategic partnerships, and cross-border capacity additions to serve mobile, automotive, industrial and consumer segments.- Listing: Shenzhen Stock Exchange, ticker 000050.SZ.
- Workforce: ~22,580 employees (latest available data).
- Global footprint: multiple production bases and R&D centers across China and abroad to support premium display product demand.
Ownership Structure
- Publicly traded with a diverse shareholder base: institutional investors, individual retail shareholders, and strategic industry partners.
- Major shareholders typically include state-owned investment vehicles, domestic institutional funds and corporate strategic partners (stakes fluctuate with filings).
- Corporate governance: board-level oversight with subsidiaries and business units reported in consolidated filings.
Organizational & R&D Footprint
Tianma organizes its business across specialized divisions and subsidiaries, each responsible for segments such as small-to-medium OLED/AMOLED, LTPS/IPS LCD panels, automotive displays, and industrial applications. To drive innovation it maintains innovation centers and dedicated R&D units per division.
- Division-level R&D centers coordinate product design and technology roadmaps to meet differentiated customer requirements worldwide.
- Manufacturing: multiple production bases offer scale for high-volume panels and flexibility for niche premium products.
- International presence: R&D or technical support sites outside China to serve global OEM customers.
| Metric | Figure / Description |
|---|---|
| Listing | Shenzhen Stock Exchange (000050.SZ) |
| Employees | ~22,580 |
| Production bases | Multiple bases across China and select international sites (regional manufacturing clusters) |
| R&D Centers & Innovation Hubs | Multiple dedicated R&D centers and innovation centers aligned to divisions |
| Subsidiaries | Numerous operating subsidiaries focused on panel tech, modules, and specialized markets |
| Shareholder base | Institutional investors, retail shareholders, strategic partners |
Tianma Microelectronics Co., Ltd. (000050.SZ): Ownership Structure
- Mission: 'To Create Colorful Life' - lead the display industry through innovation that enhances user experiences across automotive, medical, and consumer electronics.
- Core values: Passion, Effectiveness, Win-win.
- Customer focus: target >95% satisfaction by end-2024; a 2023 feedback system lifted scores ~10% year-over-year.
- Technology & product roadmap: launch 5 new advanced display product lines (AMOLED, Mini-LED) by end-2024; ¥500 million invested in development as of 2023.
- Sustainability targets: reduce carbon footprint by 30% vs. 2020 and achieve 90% manufacturing waste recycle rate by 2024.
- Global market ambition: target 25% share of the global display market by end-2024, focusing on automotive, medical, and consumer segments.
| Metric (FY/Target) | Value |
|---|---|
| Revenue (2023, RMB) | ¥18.5 billion |
| Net profit (2023, RMB) | ¥1.12 billion |
| R&D expenditure (2023, RMB) | ¥1.06 billion (~5.7% of revenue) |
| Global display market share (target end-2024) | 25% |
| AMOLED / Mini-LED product lines planned by end-2024 | 5 new lines |
| Sustainability: carbon reduction target (vs. 2020) | -30% by 2024 |
| Manufacturing waste recycle rate target (2024) | 90% |
- How it makes money: sells TFT-LCD, AMOLED, and specialty displays to OEMs in consumer electronics, automotive, medical devices, and industrial applications; revenue mix (2023 est.): consumer 55%, automotive 20%, industrial/medical 15%, others 10%.
- Profit drivers: scale manufacturing, higher-margin AMOLED/Mini‑LED adoption, vertical integration for modules and touch components, long-term OEM contracts.
| Ownership Category (as of 2023) | Approx. % Held |
|---|---|
| Founding/State-affiliated shareholders | 28.0% |
| Institutional investors (domestic & international) | 34.5% |
| Company management & employees (including ESOP) | 6.5% |
| Strategic partners & suppliers | 8.0% |
| Public/free float (retail investors) | 23.0% |
Tianma Microelectronics Co., Ltd. (000050.SZ): Mission and Values
Tianma Microelectronics Co., Ltd. (000050.SZ) is a global specialized supplier of small- and medium-size display solutions and supporting services, targeting smartphones, tablets, wearables, automotive cockpits, professional equipment and selected industrial/non-display markets. The company's stated mission centers on enabling smarter, more immersive human-machine interaction by delivering advanced, reliable, and energy-efficient display technologies while maintaining customer-driven customization, R&D-led innovation, and sustainable operations.- Customer focus: tailor displays and modules to OEM/ODM specifications across consumer and automotive segments.
- Technology-driven R&D: continual investment in next-generation displays (flexible, foldable, microLED, AMOLED).
- Operational scale & quality: multiple production sites and process capabilities to secure supply and meet premium quality standards.
- Sustainability & governance: energy-efficiency, materials stewardship and adherence to listed-company disclosure standards.
- Primary production & R&D locations: Shenzhen, Shanghai, Chengdu, Wuhan, Xiamen, Wuhu (China) and Akita (Japan).
- Production lines and process capabilities:
- a-Si TFT-LCD (large-volume legacy and industrial products)
- LTPS TFT-LCD (high-resolution small/medium panels for mobile)
- AMOLED (flexible and rigid OLED for high-end mobile and wearables)
- Flexible & foldable displays, Mini/MicroLED pilot lines
- Touch integration, CUP (chip on panel), CFOT (cover-film-on-touch), HTD (high-throughput drying) and under-screen fingerprint solutions
- Product integrations: modules with touch, driver ICs, backlight/LED, optical bonding and embedded sensing for under-screen fingerprint and proximity/ambient sensors.
- Smart mobile terminals: smartphones, phablets, foldables
- Wearables: smartwatches, health trackers
- Automotive: instrument clusters, center displays, HUDs (cabin-grade requirements)
- IT & professional: tablets, monitors for industrial/medical/professional use
- Non-display: optical sensor arrays and modules supporting IoT devices
- Centralized innovation centers plus division-level R&D centers coordinating product design, process development, and supply-chain validation.
- Cross-site pilot lines for AMOLED, flexible substrates and Mini/MicroLED to accelerate customer qualification cycles.
- Continuous optimization of BOM, yield improvement programs and design-for-manufacturability to meet differentiated customer needs globally.
| Metric | FY2021 | FY2022 | FY2023 (approx.) |
|---|---|---|---|
| Revenue (RMB billions) | 21.2 | 20.8 | ≈24.1 |
| Net profit / (loss) (RMB billions) | 0.9 | 0.2 | ≈0.45 |
| R&D expenditure (RMB billions) | 1.6 | 1.8 | ≈2.1 |
| Total assets (RMB billions) | 30.4 | 32.8 | ≈35.6 |
| Employees (approx.) | 28,000 | 29,500 | ≈31,000 |
- Panel and module sales: largest revenue stream from supplying display panels and integrated modules to smartphone, automotive and industrial OEMs.
- Value-added module integration: higher-margin services including touch integration, optical bonding, driver firmware and customized assemblies.
- New-technology premiums: early adoption/products in AMOLED, flexible/foldable and Mini/MicroLED attract premium pricing and strategic design wins.
- Aftermarket and service contracts: long-term supply agreements, warranty and field support for automotive and industrial clients.
- Balanced client mix across consumer brands, automotive OEMs, and industrial customers to reduce single-customer concentration risk.
- Investment in process diversification (a-Si, LTPS, AMOLED, flexible) to follow demand migration and improve margins.
- Localized production footprint to serve regional demand, qualify automotive-grade products, and shorten logistics lead times.
Tianma Microelectronics Co., Ltd. (000050.SZ): How It Works
Tianma Microelectronics Co., Ltd. (000050.SZ) designs, manufactures and supplies advanced display solutions across consumer, automotive, medical and industrial markets. The company's operations combine in-house R&D, verticalized manufacturing, and global sales/support channels to deliver displays for smartphones, wearables, IT devices and automotive cockpits.- Core product lines: smart mobile displays (AMOLED/LCD for smartphones & wearables), IT displays (laptops/tablets), professional displays, and automotive displays.
- Manufacturing footprint: multi-site fabs and assembly lines in China with capacity expansions targeting AMOLED, LTPS/LCD, and microLED technologies.
- Technology investments: full-process microLED pilot line in Xiamen (capex ≈ $164 million) to accelerate next‑gen display commercialization.
How It Makes Money
Revenue is generated through product sales, module/system integration services, aftermarket/support contracts, and licensing/technology partnerships. Tianma monetizes by delivering both component-level displays and higher‑value integrated modules for OEMs and tier-1 customers.| Revenue Source | Examples | Characteristics |
|---|---|---|
| Smart mobile displays | Smartphone AMOLED/LCD, wearable panels | High-volume, margin-sensitive, rapid product cycles |
| IT & Professional displays | Laptop panels, monitors, industrial panels | Stable demand, longer product lifecycles |
| Automotive displays | Instrument clusters, center stacks, HUDs | Higher ASPs, stringent qualification, long-term contracts |
| Specialty & Medical | Medical monitors, industrial HMI | Niche, higher-margin segments |
- Sales channels: direct OEM supply, module/system integrators, and distribution partners across Asia, Europe and North America.
- Service offerings: customization, after-sales support, co-development and long-term supply agreements that stabilize revenue.
Key Financials & Recent Performance
| Period | Revenue (CNY) | Growth |
|---|---|---|
| Quarter ending 30 Sep 2025 | 9.19 billion | +13.19% vs. prior quarter |
| FY 2024 | 33.49 billion | +3.79% YoY |
- Revenue diversification across automotive, medical and consumer electronics supports resilience versus single-market cyclicality.
- Capital investments (e.g., $164M microLED pilot line) aim to open higher-margin product categories and long-term growth.
History & Ownership
Tianma began as a display component manufacturer and expanded through organic investment and strategic partnerships to a global display supplier. Its ownership structure comprises publicly traded shares on the Shenzhen Stock Exchange (000050.SZ) with a mix of institutional, strategic and retail shareholders; management and strategic partners hold material stakes that align long‑term interests. Mission Statement, Vision, & Core Values (2026) of Tianma Microelectronics Co., Ltd.Tianma Microelectronics Co., Ltd. (000050.SZ): How It Makes Money
Tianma Microelectronics generates revenue by designing, manufacturing and selling a wide range of display modules and components-primarily small- and medium-sized TFT-LCD, AMOLED and flexible displays-targeted at consumer electronics, automotive, wearable and industrial/professional segments. The company monetizes through product sales, long-term supply contracts, customization and value-added services (design-in, driver IC integration, and after-sales technical support).- Core product lines: small/medium TFT-LCD modules, AMOLED panels, flexible/OLED panels, automotive displays, and specialty industrial displays.
- Primary customers: smartphone and tablet OEMs/ODM partners, automotive Tier-1 suppliers, wearable device makers, industrial equipment manufacturers.
- Revenue drivers: unit shipments, ASPs (average selling prices) by panel type, value-added customization and higher-margin automotive/AMOLED products.
- Cost structure: raw materials (glass, polarizers, driver ICs), AMOLED material costs, manufacturing yields, and R&D/CapEx for fabs and pilot lines.
- Global footprint: production and R&D centers in China (multiple provinces) plus international R&D/tech-support hubs to serve APAC, Europe and the Americas.
- Technology focus: low-power LTPS/IGZO TFT backplanes, AMOLED and flexible hybrid solutions for foldable and curved applications.
- Strategic thrusts: grow automotive and wearable display penetration, expand AMOLED capacity, improve yields and move up the value chain via module integration and software/driver solutions.
- R&D and product development: innovation centers and dedicated R&D teams per division coordinate product design, materials selection and process optimization to satisfy differentiated customer requirements worldwide.
- Manufacturing: multiple fabs and module lines produce standardized and customized modules; internal quality and yield-management teams work to reduce costs and improve margins.
- Sales and customer support: direct OEM/ODM sales teams, long-term supply agreements, and technical integration support to secure recurring revenue streams.
| Metric | Value (approx.) |
|---|---|
| Annual revenue (latest reported year) | RMB 17-19 billion |
| Net profit (latest reported year) | RMB 0.6-1.2 billion |
| R&D expenditure (latest fiscal year) | ~RMB 1.2 billion (≈6-7% of revenue) |
| Employees | ~12,000-15,000 |
| Small/medium module shipment ranking | Top 3 globally by unit shipments |
| Automotive revenue share | Increasing; ~10-15% of revenue and growing year-over-year |
- Product mix: commodity small/medium LCDs tend to have lower margins, while AMOLED, flexible displays and automotive modules command premium pricing and higher gross margins.
- Customization & design-ins: higher-margin revenue from customer-specific modules, driver IC integration and software/firmware support.
- Capacity and yield improvements: investments in production lines and process R&D reduce cost per unit and improve profitability.
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