Great news, I’ve found your problem! It is an incompatibility with your iHD_drv_video.so driver. I renamed that driver to iHD_drv_video.so.bak, rebooted and hardware transcoding works again. Presumably it is falling back to an older driver that was used previously.
I verified by naming iHD_drv_video.so back, and transcoding was once again broken for me.
Hopefully this will help your developers correct the issue with the iHD_drv_video.so now that it is the known issue.
Thank You,