【For immediate release】
(Stock Code: 1305.HK) Wai Chi Holdings Announces Interim Results Approximately 25.9% Increase in Overall Gross Profit Sustained Demand Increase in LED Backlight Products
(Hong Kong, 25 August 2025)-Wai Chi Holdings Company Limited ("Wai Chi Holdings", together with its subsidiaries collectively known as the "Group") (Stock code: 1305.HK) is pleased to announce its interim results for the six months ended 30 June 2025 ("the period under review"). The total revenue for the period under review was approximately HK$1,127,460,000, decreasing slightly by approximately 3.3% compared to approximately HK$1,166,073,000 for the corresponding period in 2024. Revenue from the core sector of LED business was approximately HK$1,126,066,000, representing an increase of approximately 18.7% compared to that of the corresponding period in 2024. For the period under review, the Group's overall gross profit was approximately HK$166,545,000, which increased by approximately 25.9% from approximately HK$132,255,000 in the corresponding period in 2024. The overall gross profit margin was approximately 14.8%, which increased by approximately 3.5 percentage points from approximately 11.3% in the corresponding period in 2024. Gross profit from the sales of the Group's LED segments of backlight products and lighting services was approximately HK$166,490,000, representing an increase of approximately 29.6% from approximately HK$128,438,000 for the corresponding period in 2024. The gross profit margin for these two segments increased by approximately 1.3 percentage points from approximately 13.5% in the first half of 2024 to approximately 14.8% in the period under review.
Revenue from the sales of LED backlight products was approximately HK$1,103,134,000 (six months ended 30 June 2024: approximately HK$899,515,000), representing an increase of approximately 22.6%, mainly due to the increased sales from automobile onboard display backlights. In addition to the sustained growth in NEV sales, new opportunities have emerged downstream, generating higher margins for the Group. The Group has also benefited from a strengthened domestic supply chain, combined with continued upgrades to its advanced automation lines, enabling effective cost control and enhanced manufacturing efficiency.
Revenue from the sales of LED lighting products was approximately HK$22,932,000 (six months ended 30 June 2024: approximately HK$49,115,000), representing a decrease of approximately 53.3%. This resulted from evolving market conditions and the Group's strategic shifts.
Revenue from the semiconductor memory chip business was approximately HK$1,394,000,
representing a decrease of 99.4% compared to the approximately HK$217,443,000 from the corresponding period last year. This downward trend primarily reflected the Group's strategic positioning.
The Group's R&D centre is located at its production plant in Huizhou, providing strong technical and R&D support for its business. The Group has achieved a number of technological advancements and breakthroughs over the years, and, as at 30 June 2025, the Group held 278 patents registered in the PRC.
Mr. Chen Chung Po, Chairman, Executive Director and CEO of the Group said, "Our Group has established a leading position in LED backlight industry and is actively capturing new opportunities arising from advanced display technologies driven by the transformation towards intelligent vehicles and the rise of emerging sectors like the low-altitude economy. By continuously advancing R&D in core technologies such as Mini LED and deepening supply chain collaboration, we are strengthening our competitiveness in the global automotive and industrial display markets. Moving forward, we will further enhance upstream resource integration, expand cross-border strategic partnerships, and leverage technological innovation to drive high-quality growth and deliver long-term value to our shareholders." About Wai Chi Holdings Company Limited (Stock Code: 1305.HK)Wai Chi Holdings Company Limited is a top high-quality LED products manufacturer established in Hong Kong over 30 years ago with comprehensive production facilities in Shenzhen and Huizhou in the Guangdong province. The Group's operations cover research and development ("R&D"), design, manufacturing, sales, etc. It was recognised as the world's largest manufacturer of LED backlights for automobile onboard displays, in terms of product shipment. It also offers comprehensive lighting energy management solutions for sizeable business corporations and public utilities. The Group recently expanded its business into sourcing semiconductor memory chips to capture the growing demand and help facilitate the development of the industry. The Group was listed on the Main Board of The Stock Exchange of Hong Kong Limited in November 2014 and its stock code is 1305.HK.
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