Lande Technology's dual main businesses drive a 114.9% increase in non-recurring profit; export revenue reaches 1.03B, accounting for 26.8%, accelerating overseas expansion

Yangtze Business Daily news ●Yangtze Business Daily reporter Xu Yang

With the dual main businesses of powertrain and touch display working in tandem, BlueMite Technology (002765.SZ) saw a significant increase in its 2025 performance.

According to the annual report, in 2025, BlueMite Technology achieved operating revenue of RMB 3.85B, up 8.96%; net profit attributable to shareholders of the parent company (hereinafter referred to as “net profit attributable to the parent”) was RMB 185 million, up 48.70%; and net profit attributable to listed company shareholders after excluding non-recurring gains and losses (hereinafter referred to as “net profit after excluding non-recurring items”) was RMB 141 million, up 114.92%.

Yangtze Business Daily reporter notes that in recent years, BlueMite Technology has actively increased R&D efforts to empower business development, while accelerating its global expansion; its overseas capacity construction has achieved substantive breakthroughs. In 2025, the company’s domestic sales operating revenue was RMB 2.82B, up 9.47%, accounting for 73.16% of operating revenue; its export operating revenue was RMB 1.03B, up 7.60%, accounting for 26.84% of operating revenue. The company’s operating strategy of advancing both domestic and international markets helps support the company’s ongoing and steady business development.

Operating revenue and profits both increased

BlueMite Technology was founded in 1996. After nearly three decades of deep cultivation, it has grown from an initial parts-processing enterprise into a high-tech company integrating the R&D, production, and sales of powertrain assemblies, powertrain parts, die-casting products, and touch screens and touch display-related integrated products.

In the past few years, influenced by market volatility, BlueMite Technology’s operating performance has seen fluctuations.

BlueMite Technology’s 2025 annual report shows that the company achieved operating revenue of RMB 3.85B, up 8.96%; net profit attributable to the parent was RMB 185 million, up 48.70%; and net profit after excluding non-recurring items was RMB 141 million, up 114.92%.

BlueMite Technology stated that during the reporting period, the company followed market change trends and the direction of industry development, closely focusing on the company’s development strategy and annual operating plan, comprehensively promoting the coordinated development of the dual main businesses of powertrain and touch display, and orderly推进 carrying out various tasks.

In terms of the powertrain business, the company continues to optimize its industrial layout, focusing on core components for new energy vehicles, and the sales proportion of new energy products continues to rise. Among them, powertrain electric-drive system components for new energy vehicles have become one of the company’s fastest-growing businesses. In areas such as balance box assemblies and transmission assemblies, the company continues to deepen collaboration with high-quality customers and stabilize its market share.

In terms of the touch display business, the company seized opportunities from the rapid development of markets such as cover glass and in-vehicle touch screens, actively adjusted its product structure, optimized its business composition, and further increased the proportion of in-vehicle touch screens and industrial control products, with the touch display business remaining stable and developing steadily. In particular, the sales proportion of the in-vehicle touch screen business increased further, and the large-sized industrial control sector also made good progress.

BlueMite Technology’s 2025 financial results show that by product, the company’s powertrain assembly operating revenue was RMB 1.11B, up 25.38%; powertrain component operating revenue was RMB 903 million, up 13.98%; touch display module operating revenue was RMB 974 million, down 19.30% year over year; and touch display component operating revenue was RMB 787 million, up 46.48%.

Based on the company’s operating objectives and market marketing plan, it is expected that in 2026 it will achieve operating revenue of RMB 4.47B, up 16.10%; total profit of RMB 241 million, up 24.70%; and net profit attributable to the parent of RMB 211 million, up 14.21%.

Globalization and R&D working side by side

The operating strategy of advancing both domestic and international markets helps promote the company’s ongoing and steady business development. In recent years, BlueMite Technology has adhered to a large-customer strategy. It is a powertrain parts supplier to multiple well-known domestic and international enterprises, including SAIC Motor Group and FAW Group, and has established long-term, stable cooperation with globally renowned companies such as BOE and Corning, gaining a competitive advantage in expanding the market and winning orders.

BlueMite Technology attaches great importance to core technology R&D and continues to build core competitiveness. From 2022 to 2025, the company’s R&D expenses were RMB 131 million, RMB 130 million, RMB 144 million, and RMB 178 million, respectively—each exceeding RMB 2.82B. The R&D expenses accounted for 4.57%, 4.64%, 4.08%, and 4.61% of operating revenue, respectively, laying a technical foundation for subsequent business growth.

As of the end of 2025, BlueMite Technology had 160 valid authorized patents in the powertrain category and 23 software copyrights; it had accumulated 97 valid authorized patents in the touch display category and 19 software copyrights.

BlueMite Technology is steadily advancing its overseas expansion process to enhance the company’s competitiveness and overall ability to withstand risks. On March 17, BlueMite Technology released a progress announcement titled “Announcement on the Establishment of a Thai Subsidiary,” disclosing matters related to its Thai subsidiary’s capital increase and change of registered address.

According to the announcement, BlueMite Technology completed the establishment and registration of TOP GROUP TECHNOLOGY (THAILAND) CO., LTD. (hereinafter referred to as “Thai Tai-guan”) in December 2025. This subsidiary serves as the implementation entity for the company’s overseas investment and construction of a touch display business production base in Thailand.

Based on the announcement, recently the company implemented a capital increase into Thai Tai-guan through its wholly owned subsidiary in Singapore. The company’s registered capital was increased from 1 million Thai baht to 50 million Thai baht. After the capital increase, the equity structure remains unchanged, and the company continues to indirectly hold 100% of the equity in Thai Tai-guan. The announcement states clearly that this capital increase is mainly to meet funding needs for the construction of the Thailand touch display production base project, and will not have a material impact on the company’s financial condition and operating results.

The announcement also disclosed that the company’s other Thai subsidiary, AUREVEX TECHNOLOGY (THAILAND) CO., LTD., has completed the change of its registered address and has officially moved to the location of the leased factory premises.

It is understood that in April 2024, BlueMite Technology deliberated and approved a proposal to invest in and build production bases for touch display and powertrain businesses in Thailand, with a planned investment amount of no more than RMB 200 million. The subsequent construction will be carried out in phases according to market demand and business progress. Both the capital increase and address change for this Thai subsidiary are important measures for advancing this project.

In 2025, BlueMite Technology’s domestic sales operating revenue was RMB 1.03B, up 9.47%, accounting for 73.16% of operating revenue; gross margin was 16.86%, up 3.04 percentage points from the same period last year. Its export operating revenue was RMB 1.034 billion, up 7.60%, accounting for 26.84% of operating revenue; gross margin was 15.70%, up 1.95 percentage points from the same period last year.

BlueMite Technology’s financial position remains steady and sound, with sufficient cash reserves, laying a solid foundation for performance growth and business expansion. As of the end of 2025, the company’s asset-liability ratio was 55.93%, and cash and cash equivalents on the balance sheet were RMB 815 million, up 14.82%; net cash flow from operating activities was RMB 280 million, up 7.58%.

BlueMite Technology actively distributes dividends to reward shareholders. The company’s 2025 profit distribution proposal shows that it plans to pay a cash dividend of RMB 0.5 per 10 shares to all shareholders (including tax), totaling RMB 32.6064 million, accounting for 17.64% of the net profit attributable to the parent company for this year.

Editor: ZB