February 18, 2020

Looking at the development trend of the industry from the "record" of LED listed companies in the first quarter

In 2018, with the continuous improvement of LED boom, the profitability of listed companies in the LED industry ushered in a comprehensive recovery. As of April 27, 2018, 31 of the listed companies in the mainland A-share LED segment have published their first quarterly results for 2018. According to the results of the 31 listed companies listed by OFweek Semiconductor Lighting Network, 2018, with With the continuous improvement of LED boom, the profitability of listed companies in the LED industry has ushered in a comprehensive recovery. As of April 27, 2018, 31 of the listed companies in the mainland A-share LED segment have released their first quarterly results for 2018. According to the performance forecasts of 31 listed companies by OFweek Semiconductor Lighting Network, 23 The net profit of home companies increased, and the net profit of 8 companies declined. Comparison of Continental LED Enterprise Revenue and Net Profit in the First Quarter of 2018 As can be seen from the above chart, the net profit growth of the three listed companies of Alto Electronics, Dehao Runda and Guangdong Ganhua exceeded 100%. Sanan Optoelectronics, Aoyang Shunchang, Ganzhao Optoelectronics, Mulinsen, Hongli Zhihui, Guoxing Optoelectronics, Ruifeng Optoelectronics, Changfang Group, Guangqi Shares, Op Lighting, Snowlight, Mingjiahui, Sanxiong Aurora, Ocean King The net profit growth of 20 listed companies in Lighting, Huati Technology, Tailong Lighting, Chau Ming Technology, Liard, Ai Bison and Infineon ranged from 0% to 100%. The net profit of Maoshuo Power Supply, Overclocking III, Yuanfang Information, Lehman Shares, Weiwei Shares, Debang Lighting, Jufei Optoelectronics and Jucan Optoelectronics listed companies decreased compared with the same period of last year. Among them, Guangdong Ganhua and Dehao Runda's net profit fell sharply. From the 2017 annual report of the major LED industry and the 1st quarter of 2018, the core financial indicators of listed companies all showed obvious improvement trends. The core indicators include ROE, revenue scale and growth rate, net profit and growth rate of returning home, gross profit margin. , net profit and operating cash flow. The core financial data of the LED industry has improved significantly, and the LED industry trend has been verified to be solid and reliable. As the concentration of the LED market continues to increase, many leading companies in the LED industry chain have expanded their production capacity, hoping to seize market share. It can be seen that the future LED industry will present the situation of the big one. In recent years, the demand for downstream applications has grown strongly, and the penetration rate of LED lighting has risen rapidly. Moreover, with the rapid growth of the market for small-pitch LEDs, the opening of LEDs for MicroLED/Mini LEDs, and the expansion of LED applications, it is expected that downstream applications will continue to grow steadily for a long time to come. On the other hand, global LED manufacturing is showing a general trend of shifting to China. Based on this, some industry analysts believe that China's electronics industry has fully possessed excellent process control and cost management capabilities over the years, and the engineers' dividends are gradually being released, prompting Chinese companies to develop and own more independent intellectual property rights. International advanced technology. With the slowdown in the technological advances of international manufacturers, Chinese companies will have the opportunity to make full use of national policies, industrial capital and engineer dividends to achieve post-production, with the goal of defeating traditional international giants. The following are the performance reports of LED listed companies. LED chip articles Sanan Optoelectronics Sanan Optoelectronics achieved operating income of 1.945 billion yuan in the first quarter of 2018, down 2.26% from the same period of the previous year; realized net profit attributable to shareholders of listed companies of 968 million yuan , an increase of 40.14% over the same period last year. In the first quarter of 2018, Dehao Runda Dehao Runda achieved a total operating income of 870 million yuan, a year-on-year increase of 2.80%; realized a net profit attributable to shareholders of listed companies of 300,700 yuan, an increase of 103.47%, mainly due to operating profit during the reporting period. Increased. Aoyang Shunchang Aoyang Shunchang achieved operating income of 910 million yuan in the first quarter of 2018, a year-on-year increase of 39.99%; net profit attributable to shareholders of listed companies was 89.78 million yuan, a year-on-year increase of 40.70%. Aoyang Shunchang said that from January to March 2018, the company's various businesses performed well, especially as the LED business increased its profit contribution with capacity. In addition, Aoyang Shunchang is expected to have a positive net profit attributable to shareholders of listed companies from January to June 2018 and is not a case of turning losses into profits. In the first quarter of 2018, Ganzhao Optoelectronics Co., Ltd. achieved operating income of 223 million yuan, a year-on-year decrease of 16.80%, of which epitaxial wafers and chips revenue was 220 million yuan, down 13.96% year-on-year; net profit attributable to shareholders of listed companies was 47,316,300. Yuan, an increase of 13.81%. According to Ganzhao Optoelectronics, the reasons for the increase in net profit are: external environmental analysis: affected by the Spring Festival in 2018, the company's February epitaxial wafer and chip business sales decreased significantly in February last year, and returned to normal after March, resulting in the first Quarterly main business revenue decreased year-on-year. In addition, the company's own factors analysis: On the one hand, the company's blue-green project has been put into production for more than two years, after the production period, production capacity release period, production experience accumulation, production process improvement, yield improvement have achieved significant results, products Capacity and output tend to be stable; on the other hand, the company adheres to changes in the main business development strategy combined with the external market environment. During the reporting period, the company is stepping up the construction of the Nanchang base project to give full play to the company's existing technological advantages, equipment advantages, technological advantages, and enhance product structure; by optimizing production processes, reducing production costs, introducing advanced production equipment, and improving products Production automation to further improve production efficiency and improve existing business. Jucan Optoelectronics Jucan Optoelectronics achieved operating income of 115 million yuan in the first quarter of 2018, down 21.16% year-on-year; net profit attributable to shareholders of listed companies was 2.45 million yuan, down 89.11% year-on-year. Jucan Optoelectronics said that the company's first-quarter performance in 2018 fell sharply year-on-year. The company's main product unit price decreased significantly compared with the same period of last year, resulting in a decline in business income. Secondly, Jucan Suqian Subsidiary Company is in the project construction period. Both operating costs and management expenses have increased significantly; in addition, due to changes in the exchange rate of RMB against the US dollar, the company's foreign currency settlement purchases and sales operations have been affected. The exchange loss in this period has increased significantly over the same period of the previous year. Guangdong Ganhua Guangdong Ganhua achieved operating income of 77.084 million yuan in the first quarter of 2018, a year-on-year increase of 13.58%; net profit attributable to shareholders of listed companies was 1,485,500 yuan, an increase of 110.80%.

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