TIANMA(000050) 浙商证券·2025-03-17 05:23Investment Rating - The investment rating for the company is "Buy" (maintained) [5] Core Views - The company's flexible OLED and automotive display segments are driving a recovery in operational performance, with significant improvements in profitability and revenue growth expected in the coming years [2][3][8] Summary by Sections Mobile Segment - The mobile display business has seen a notable improvement in profitability, with the flexible OLED segment entering a phase of full-scale development. The company has diversified its customer base and improved production capacity, leading to a substantial increase in revenue and profitability [2] Automotive Segment - The automotive display market is experiencing rapid growth, with the company achieving over 40% year-on-year revenue growth in 2024. The company holds the global leading position in automotive display shipments and has entered the automotive electronics sector, which is now in mass production [3] IT Segment - The IT business has strengthened its competitive position with LTPS LCD technology, achieving an increase in global market share for LTPS NB display products. The company has successfully launched its first large-screen commercial display product and is entering mass production for its IT products [4] Financial Performance - In 2024, the company achieved operating revenue of 33.494 billion yuan, a year-on-year increase of 3.79%. The net profit attributable to shareholders improved significantly, with a reduction in losses by 68.13% compared to the previous year [8][10]