What happened
Longhua Technology Group (Luoyang) released its 2026 first-half results on August 28, showing that all three core business segments posted year-on-year revenue growth. Total revenue reached 1.828 billion yuan, up 20.66%, while net profit attributable to shareholders rose 8.92% to 122 million yuan, and non-GAAP net profit increased 5.15% to 110 million yuan.
The target and ultra-high temperature special materials segment was the standout performer, with revenue jumping 114.19% to 873 million yuan, accelerating from the prior year's pace. Subsidiary FengLianKe Optoelectronics achieved a 'from 0 to 1' breakthrough in G8.6 AMOLED molybdenum and silver tube targets, completed first-unit production for Visionox's high-generation line, and in July began mass shipping G8.7 AMOLED silver alloy tube targets, filling a domestic gap for this key display material.
Beyond displays, the company's IZO targets hold a leading market share in the photovoltaic sector, and its high-density NiO targets have been recognized by major clients such as Kunshan GCL, Renshuo Energy, BOE and LONGi. In market expansion, two display target products passed Samsung's quality audit and product verification, securing batch supply orders. The company also made progress in composite materials, green hydrogen environmental treatment, and electronic ceramics.
Why it matters
The doubling of target materials revenue and the mass-production milestone for high-generation AMOLED silver alloy tube targets signal a significant step in China's ability to supply advanced display materials domestically, reducing reliance on imports in a critical part of the display supply chain.
Beyond displays, the company's growing footprint in next-generation solar materials—such as perovskite and heterojunction targets—and its strategic entry into electronic ceramics and green hydrogen-related environmental services demonstrate a deliberate diversification aimed at strengthening resilience amid intensifying market competition.
Key facts
Longhua Technology's H1 2026 revenue was 1.828 billion yuan, up 20.66% year-on-year.
Target and ultra-high temperature special materials revenue grew 114.19% to 873 million yuan, faster than the prior year.
Subsidiary FengLianKe Optoelectronics achieved breakthroughs in G8.6 AMOLED molybdenum and silver tube targets and began mass production of G8.7 AMOLED silver alloy tube targets.
Two display target products passed Samsung's quality audit and entered batch supply.
The company secured test projects for Visionox's G8.6 AMOLED line and delivered first-unit products on schedule.
Net profit attributable to shareholders was 122 million yuan, up 8.92%; non-GAAP net profit was 110 million yuan, up 5.15%.
What to watch next
Whether the company can sustain the rapid growth in target materials, especially as it scales supply for high-generation AMOLED lines and expands its customer base among major global panel makers.
Progress in the company's strategic diversification into electronic ceramics and green hydrogen-related environmental solutions, which may open new revenue streams but also require continued R&D and market validation.
How the planned transformation toward a group-style business structure and ongoing cost optimization affect the company's competitive position and financial health in the coming quarters.