Truly International Holdings

What Truly International Holdings does

Truly International Holdings Limited is a Hong Kong Stock Exchange-listed (HKEX: 732) display technology manufacturer founded in 1978 and listed since 1991, with the founder Lin Weihua serving as Chairman and Managing Director. The company manufactures displays and complementary components across the full technology spectrum — TFT-LCD, LTPS, AMOLED, PMOLED, flexible OLED, and OLCD — operated through six wholly-owned subsidiaries (Truly Semiconductors, Truly Opto-electronics, Truly Electronics, Truly Industrial, Truly Instrument, and Truly (Huizhou) Smart Display) at production facilities totaling more than 964,300 square meters in Shanwei and Huizhou, Guangdong Province, China, supported by an 18,200+ workforce.

The product portfolio covers display panels, touch panels and modules (OGS, GFF, G1F, GG with metal-mesh and nano-silver wire), compact camera modules (with CSP and automated COB packaging, OIS, dual-camera AA), fingerprint identification modules, cover lens products (Magic Glass), rigid and flexible PCBs/HDI boards, and personal healthcare devices such as electric toothbrushes and blood glucose meters. Technology differentiators include the world's first G4.5 AMOLED production line using full-size evaporation without cutting (Huizhou, mass production November 2016, ~620,000 5.5-inch equivalent units monthly), a G5 TFT-LCD line at the Hong Cao factory, OLCD flexible technology licensed from FlexEnable, and an ASTRI-Truly Joint R&D Center covering LCoS, automotive HUD, IoT, and Industry 4.0.

Truly generates revenue exclusively through B2B direct sales of hardware components to enterprise customers, with no consumer retail or marketplace channels. Customers span three primary verticals: automotive OEMs and Tier 1 suppliers (80%+ of global car brands, #1 in China and #7 globally for automotive displays in 2016), major smartphone manufacturers (positioned as an alternative to Samsung Display for AMOLED supply), and 300+ industrial control and IoT customers including Fortune 500 companies. Sales operations run from Hong Kong headquarters, a China market sales headquarters in Shanwei, a Singapore regional office, and Truly (America), Inc. in Alhambra, California. Pricing is quote-based with no public disclosure, and the company has reported profits every year since its 1991 listing.

Name

Truly International Holdings

Legal name

Truly International Holdings Limited (信利國際有限公司)

Website

https://truly.com.hk

Company type

Public

Founded year

1978

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Truly International Holdings (HKEX: 732) is a Hong Kong-listed display technology manufacturer producing TFT-LCD, AMOLED, OLCD, touch, camera, and fingerprint components from Shanwei and Huizhou, China, supplying automotive OEMs covering 80%+ of global car brands, major smartphone manufacturers, and 300+ industrial/IoT customers through B2B direct sales.

Ownership category

akta.pro rank

Product category

Display Components Manufacturing

NAICS

Computer and Peripheral Equipment Manufacturing (33411), Other Electrical Equipment and Component Manufacturing (3359)

SIC

Electronic Components & Accessories (3670)

akta.pro primary industry

Smartphone Components & Modules (Displays, Cameras, Batteries, Sensors, RF modules) (CRACALAD)

akta.pro secondary industries

Smartphone & Feature Phone ODM/OEM Manufacturing (Contract Manufacturing) (CRACALAB), Optoelectronics & Photonics (LED/Laser/Optical ICs) (HDAHAAAH)

Keywords

• Display panel manufacturing
• AMOLED display production
• Automotive display solutions
• Touch panel modules
• Camera module manufacturing

Headquarters

HQ city

Tsuen Wan

HQ country

Hong Kong SAR China

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Supply Chain, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Display Components and Modules: Manufacturing and sales of display panels and modules (TFT-LCD, AMOLED, OLED, PMOLED) as core revenue driver. Products sold as components to OEMs in smartphones, automotive, industrial, and IoT sectors. Revenue is generated through product sales at scale with multi-generation production lines.
2. Touch Panel and Module Sales: Sales of touch panels and touch modules including OGS, GFF, G1F, and GG structures. Sold as integrated components to smartphone and consumer electronics manufacturers.
3. Compact Camera Module Sales: Sales of compact camera modules for smartphones, automotive, smart home, and consumer electronics. Includes high-end features such as OIS, dual cameras, and 3D sensing.
4. Printed Circuit Board and Electronic Components: Manufacturing and sales of rigid PCBs, flexible PCBs, and HDI circuit boards for multiple applications. Provides diversified electronics manufacturing services.
5. Personal Care and Healthcare Devices: Production and sales of personal healthcare products including electric toothbrushes, blood glucose meters, blood pressure monitors, and electronic thermometers.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels4 records

Core offering

Truly International Holdings manufactures and sells a full range of display technologies (TFT-LCD, LTPS, AMOLED, PMOLED, flexible OLED, OLCD) along with complementary integrated components including touch panels, compact camera modules, fingerprint identification modules, and cover lenses. Products are sold as components and modules to global OEMs and Tier 1 suppliers in the smartphone, automotive, industrial/IoT, and personal healthcare sectors.

Product overview

Truly International Holdings is a display solutions provider serving the portable electronics industry. The company's product portfolio centers on display technologies including LCD panels, OLED (including AMOLED and flexible OLED), touch panels and modules, compact camera modules, fingerprint identification modules, and cover lens products. The company operates six subsidiary companies: Truly Semiconductors Ltd. (信利半導體有限公司), Truly Opto-electronics Ltd. (信利光電有限公司), Truly Electronics Ltd. (信利電子有限公司), Truly Industrial Ltd. (信利工業有限公司), Truly Instrument Ltd. (信利儀器有限公司), and Truly (Huizhou) Smart Display Ltd. (信利惠州智能顯示有限公司). Manufacturing facilities are located in Shanwei, Guangdong with over 964,300 square meters of production area and over 18,200 employees. The company serves global automotive, smartphone, industrial, medical, and consumer electronics markets, with particular strength in automotive displays (ranked #1 in China, #7 globally in 2016) and smartphone component supply.

Differentiator

Problem solved

Functional benefit

Products and services

• Display Products (顯示屏產品) Full range of display technologies including TBN, CSTN, MONO-TFT, full-reflection TFT, LTPS displays, EWD electro-wetting displays, OLED, AMOLED, and flexible OLED products in various shapes (square, round, special shapes, drilled). Applied in smartphones, smart wearables, automotive, medical, industrial control, and IoT.
• Touch Panels and Touch Modules (觸控屏及觸控模組)

Quantifiable outcome

• Ranked No. 7 globally and No. 1 in China for automotive display shipments in 2016, targeting top 3 within three years
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered core.

• FlexEnablecoreTechnology or Integration · 31 July 2017Truly Semiconductors signed a technology transfer and licensing agreement with FlexEnable in July 2017 to implement FlexEnable's OLCD (Organic LCD) technology for high-volume production at Truly's Shanwei facilities. OLCD technology enables flexible displays with bending radius under 20mm using OTFT (Organic Thin-Film Transistor) backplane technology on low-cost plastic substrates. The first samples were targeted for early 2018 and mass production by end of 2018. This positions Truly as the first display manufacturer to adopt OLCD technology at scale.
• Hong Kong Applied Science and Technology Research Institute (ASTRI / 香港應科院)coreStrategic or Co-development Partner · 1 June 2015Truly and ASTRI established the 'ASTRI-Truly Joint R&D Center' to accelerate the commercialization and industrialization of new technologies. The center focuses on LCoS display technology, automotive heads-up display (iHUD) core components, Internet of Things smart terminals, intelligent driving, and Industry 4.0 technologies. ASTRI contributes over 400 R&D professionals including 27% PhD holders and 50%+ Master's degree holders, with over 500 patents. Truly's Shanwei and Huizhou production bases participate in the collaboration. The center is funded by the Innovation and Technology Fund under the Innovation and Technology Commission.

Scale indicators8 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Innolux Corporation: Taiwanese TFT-LCD panel maker serving smartphones, automotive, and consumer electronics. Overlaps with Truly's smartphone display and automotive display businesses, particularly in medium-to-large size panels.
• Tianma Microelectronics: Chinese display panel maker specializing in small-to-medium LCD and AMOLED panels for smartphones, automotive, and industrial applications. Closely comparable product portfolio to Truly across display technologies and target segments including automotive and industrial/IoT.
• AU Optronics (AUO): Taiwanese display panel manufacturer producing TFT-LCD and AMOLED panels for smartphones, automotive, and industrial applications. Comparable in panel technology breadth and target customer overlap with Truly, especially in automotive cockpit displays.
• Japan Display (JDI): Japanese display manufacturer focused on small-to-medium LCD and OLED panels for smartphones, automotive, and VR/AR. Direct competitor in smartphone LTPS LCD and AMOLED supply with similar customer profiles.
• O-Film Tech: Chinese smartphone component manufacturer producing camera modules, touch panels, fingerprint sensors, and other optical components. Direct peer to Truly in the smartphone component module space, competing on camera modules and touch panels.
• China Star Optoelectronics Technology (CSOT): TCL-affiliated display manufacturer producing LCD and AMOLED panels across consumer electronics and TV applications. Competes with Truly in smartphone displays and expanding AMOLED capacity creates direct overlap in mobile display supply.
• BOE Technology Group: China's largest display panel manufacturer producing TFT-LCD, AMOLED, and flexible OLED panels for smartphones, automotive, and TVs. Directly competes with Truly in smartphone and automotive display supply, but at significantly larger scale with G8.5/G10.5 fabs.

Emerging players

• Visionox Technology: Chinese AMOLED specialist focused on flexible OLED panels for smartphones and wearables. Emerging competitor in the same smartphone OLED market where Truly's G4.5 AMOLED line competes.

Broad incumbents

• Samsung Display: Dominant global AMOLED panel supplier and offshoot of Samsung Electronics. While operating broadly across the entire display industry, it competes directly with Truly in smartphone AMOLED panels and sets the technology/price benchmark for the industry.
• LG Display: Major Korean OLED and LCD manufacturer serving smartphones, automotive, and TV applications. Competes with Truly across multiple display segments with significantly larger scale and OLED leadership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/truly-semiconductors-ltd-

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries6 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Truly International Holdings