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Record industry change, count in the first half of the LED of the listed company "nine cases of the most"

- Sep 10, 2016 -

2015 LED listed companies in China are very helpless. According to the annual report, according to data from 24 leds listed companies only six net interest rate of more than 10% of enterprises, only 13 companies' camp ', 'the' double charge.


Last year's market almost reversed in the first half of this year. "The industry rebound" become the focus of among yourselves.


High yield research institute (GGII) LED statistics show that in the first half of the LED listed companies realize the operating profit of about 6.141 billion yuan, up 33.07% from a year earlier.


On the one hand, it shows that the LED enterprise profitability in the recovery period; Industry merger and purchase and the enterprise itself, on the other hand, the cost control, product structure optimization adjustment plays a certain effect. Especially after the part of the consolidated financial statements of listed companies, performance a substantial growth in the first half of the year.


But these leds listed companies still showed obvious trend of differentiation. Some of its own management ability and continued to expand, maintain the stability of revenue and profit growth; Others faltered, even out of puff and phasing out.

High yield research institute (GGII) LED according to the first half of this year the performance and operating performance of listed companies, named "nine cases of the most", in a corner to render the LED industry in the first half of the poet.

The highest subsidies: three Ann photoelectric

Government subsidies have been the main force of contribution to the three Ann photoelectric non-operating revenue each year.


As subsidies on the list, three Ann photoelectric springs in the first half of 348 million yuan has certainly become enterprise's king "subsidy", ranking 23 in the list of a-share subsidies.


As an industry bosses, three Ann photoelectric also LED lighting industry subsidies, between 2013 and 2015 respectively 352 million, 505 million, 594 million, the year net profit is around thirty percent.


Three and a half Ann photoelectric (600703) published annual report, in the first half of the sales income 2.778 billion yuan, 966 million yuan net profit attributable to shareholders of listed companies, compared with a year earlier, the sales revenue increased 21.25%, net profit attributable to shareholders of listed companies has increased by 6.89%.


But the company in the first half of the non-recurring profit and loss amount is 324 million yuan, of which included in the current government subsidies of $348 million. The actual deducting non-recurring gains and losses attributable to shareholders of listed companies net profit fell 9.49%. Data show that the current government subsidies account for 36.24% of the net profit.

The most significant potential: wood Tomlinson

From the IPO to sell continuous strategic layout, upstream and downstream industry chain to joint IDG bid for osram lighting, such as wood Tomlinson movements make a person dazzling, unpredictable.


Wood Tomlinson half annual report released (002745), in the first half of the company business income is 2.087 billion yuan, a year-on-year growth of 4.31% over the same.


During the reporting period, the LED industry resources integration, distribution, growing stage, the merger integration deepening, in the first half of 2016, the company will increase the project to raise funds in place, jiangxi at, two production bases of investment project implementation will further expand the scale of the company's business, enhance the company's comprehensive competition ability and ability to resist risks.


Era at the same time, the company through the acquisition of Hong Kong super light source (group) co., LTD., equity, folio hair crystal lighting (xiamen) co., LTD., two capital, able to quickly get lighting technology and market share in emerging products, and complete to the LED industry chain upstream is outspread, make the company in the fierce competition in the LED industry maintain strong competitiveness.


Release half annual report at the same time, made foreign investment announcement wooden Tomlinson, plans to invest 5.5 billion yuan of annual revenue of 10 billion yuan in yiwu construction LED lighting production base.


Data show that as of the end of the first half, the company's cash on hand, cash in bank and other monetary funds total amount is 5.967 billion yuan, the subsequent continuous market power for the company and industry merger and purchase and provides a good financial support.

The most persistent: sun lighting

As an enterprise of traditional lighting, LED to persistent input and continuous stable operation, make the sunlight illumination LED "hidden champions" of The Times.


Sun lighting half annual report released (600621), in the first half of the company business income is 2.126 billion yuan, increased by 11.92%, compared to the same implementation net profit attributable to shareholders of listed companies of 218 million yuan, up 22.01% from a year earlier, revenue and net income continues to maintain steady growth.


Among them, the LED product revenue was 1.74 billion yuan, up 39.71% from a year earlier, income accounted for 82.78%. In the first half of the company product gross margin was 26.26%, up 2.38% from a year earlier. Among them, the LED light source and lamps and lanterns product gross margin of 1.36% from a year earlier.


At the same time, the company in xiamen, the original shangyu and development base, on the basis of further upgraded the jiangxi and anhui for research and development base. At the same time, a new research and development center of hangzhou, continue to put Shanghai r&d center construction, make research and development company important driver of growth.

In addition, the company has established zhejiang, fujian, jiangxi, anhui four base, with 300 million LED light source and LED lamps and lanterns is the annual production capacity of 80 million sets. On the ball bubble products and tube products, company has formed the scale of some of the item.


As companies offering investment project put into production, step by step in the first half of the LED lighting products of the company in the growth of revenue is larger, a 218 million - yuan net profit attributable to parent company owners, 54.50% of the plan is completed, the completion progress in line with the business plan.

The most helpless: guangdong GanHua

In LED the backdrop of the listed companies in the first half of the common performance improvement, guangdong GanHua LED industry investment of 800 million yuan of harvest.


Company even notice, based on the corporate profitability decline, including upstream especially fierce competition, the overall decline in margins, DE force photoelectric business losses.


According to the current actual situation, comprehensive consideration of factors such as industry and market, the company temporarily unplanned increase investment in the photovoltaic industry. Originally promised not less than 1.5 billion yuan of the LED industry input, the company also decided to rest not invest to other areas.


Guangdong GanHua half annals, according to DE force during the first half of the photoelectric LED epitaxy chip operating income of 027 million yuan, year-on-year growth of 33.01% last year. Product gross margin of 45.55%, net loss of 20.4618 million yuan. In all the LED LED business loss amount in the listed companies is the largest.

The crossover: frequently on photoelectric, rectangular group

In August, frequently on the photoelectric by issuing shares and pay cash, buy guangzhou yong man education of a 100% stake has been the SFC audit and get a conditional pass.


Frequently on the photoelectric think, in our country education resources distribution imbalance of the natural landscape, the entrance examination for secondary school or college as the main types of recruitment exam and school selection, divide into classes demand in quite a period is basically a multitude of K12 stage children "just".


In guangzhou yong man raising project implementation based on science, the next step to set up a good platform for the capital increase speed denotative drive active layout K12 related industrial chain, promote the company to enter the trillion-dollar market fast lane, to create the company education industry a complete industrial chain platform together.


Therefore, hold regular photoelectric shares of more than 10% on regular group even proposed to recall on zhao company director and deputy chairman. Reason is frequently on the full consideration of the photoelectric future strategy development and industry layout, the company of the reasons of the transformation.


In March 2016, rectangular lighting was renamed shenzhen rectangular group co., LTD.; To establish education industry mergers and acquisitions fund in June; Wholly owned subsidiary of shenzhen sea before oblong education management co., LTD. Companies began to have industry extension towards outside the industry layout.


In June 2016, the company jointly invested and francois capital scale of no more than 2 billion mergers and acquisitions funds, major investment international education, preschool education as early as preschool education industry; And with their own capital of 100 million yuan to set up a wholly owned subsidiary of shenzhen sea before oblong education management co., LTD., mainly engaged in the early of preschool education institutions for investment and construction.


But no competition facing the education industry LED. According to incomplete statistics, from 2014 to now, there are about 20 listed companies to set up the education industry investment fund.


K12 online education currently more than 3000 enterprises, but only 5% of the enterprise is profitable, the vast majority is fumbling. Peak in the next few years, the enterprise of "death" is coming.



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