Many LED Companies Have Published Their Annual Report For 2018. What Is The Profit And Loss Performance?

- Apr 25, 2019-

Recently, six listed companies, Opel Lighting, Sunshine Lighting, Ocean King, Tailong Lighting, Qianzhao Photoelectric and Maoshuo Power Supply, have also issued their annual report for 2018. The lighting industry's annual report discloses more than half of its journey in 2018. Let's look at the profits and losses of these companies.


| Opel Lighting's net profit increased by 32.03% to 899 million yuan in 2018


Opel Lighting handed in a high-quality transcript in 2018 and continued its steady growth to the first quarter of this year.


According to Opel Lighting's report of 2018 and its quarterly report of 2019 released on the evening of April 22, the company's business income in 2018 exceeded 8 billion yuan, an increase of 15.05% over the previous year, and its net profit attributable to shareholders of listed companies was 899 million yuan, an increase of 32.03% over the previous year. The company's business income in the first quarter of 2019 was 1.663 billion yuan, an increase of 12.17% over the previous year, and its net profit attributable to shareholders of listed companies Length 22.76%.


| Fukushima Electronics realized revenue of 1,098,897.2 million yuan in 2018, an increase of 33.96% over the same period last year.


It is mainly due to the growth of Sino-Norway's telecommunications business. The net profit attributable to shareholders of listed companies was 46.5557 million yuan, compared with a loss of 125.499 million yuan in the same period last year.


In terms of revenue composition, LED photovoltaic industry realized revenue of 749 million yuan, down 15.24% year-on-year, and gross interest rate was 13.65%.


In addition, the company's main products, LED display production and sales decreased by 26.11% and 30.25% compared with the previous year, mainly due to the "cost reduction and efficiency enhancement" of Mairui Optoelectronics and the reduction of some low-profit orders; the production and sales of light-emitting diodes increased by 16.87% and 16.95% compared with the previous year, mainly due to the successful introduction of a number of new customers by Yuanlei Technology and the development of overseas markets. Some progress has been made and orders have increased.


Zhaochi shares realized revenue of 1286,776.81 million yuan in 2018, an increase of 25.80% over the previous year.


The net profit attributable to shareholders of listed companies was 445.388 million yuan, down 26.13% year on year.


Looking at the revenue process in terms of products, the LED industry chain realized revenue of 1.749 billion yuan, an increase of 14% over the previous year, accounting for 13.59% of total revenue, and gross profit rate of 14.05%.


According to Zhaochi, the net profit of the shareholders of listed companies and the ownership during the reporting period was 445.388 million yuan, while the net cash flow generated by the company's business activities during the reporting period was 89.726.28 million yuan, a difference of 451.878 million yuan. The main reasons are the increase of company sales and the decrease of funds occupied by inventory purchase during the reporting period.


| In 2018, the revenue of Feiluo Audio reached 330,210.4 million yuan, down 39.35% from the same period last year.


The net profit loss attributable to shareholders of listed companies was 329,495.36 million yuan, down 6,064.9% year on year.


According to the composition of revenue, the production and sales of light source, electrical appliances and lamps products realized a revenue of 2.294 billion yuan, a decrease of 0.99% year on year, and a gross interest rate of 29.72%. Lighting installation projects totaled 221 million yuan, down 90.12% year-on-year, and gross profit margin was -4%.


The annual report shows that in 2018, the internal and external environment of the company has undergone significant changes. The main subsidiaries are facing the difficulties of weak income growth, high cost and low performance.


In 2018, Infineon realized revenue of 9653.062 million yuan, an increase of 26.47% over the previous year.


The net profit attributable to shareholders of listed companies was 70.2817 million yuan, an increase of 180.90% over the previous year.


According to the composition of revenue, the sales revenue of LED power supply is 856 million yuan, up 22.51% year-on-year, accounting for 88.71% of total revenue, and the gross profit rate is 32.46%.


Infineon said that during the reporting period, the company actively continued to expand new markets and achieved excellent growth in emerging markets such as Africa, the Middle East and Southeast Asia.


Lehman realized revenue of 733.522 million yuan in 2018, an increase of 13.81% over the previous year.


The net profit loss attributable to shareholders of listed companies was 36.478 million yuan, down 279.56% year on year.


According to the industry, the revenue of LED industry is 712 million yuan, an increase of 14.40%, accounting for 97.05% of the total revenue, and gross profit rate is 22.3%.


In terms of revenue composition, packaging device products realized revenue of 30.59 million yuan, down 11.35% year on year, accounting for 4.17% of total revenue. Lighting products achieved revenue of 376 million yuan, up 46.70% year-on-year, accounting for 51.32% of total revenue. Revenue of display products reached 297 million yuan, down 7.69% year on year, accounting for 40.5% of total revenue.


| Yuanrong Technology realized revenue of 2343.533 million yuan in 2018, down 47.40% from the same period last year.


The net profit loss attributable to shareholders of listed companies was 15.873 million yuan, down 135.34% from the same period last year.


The annual report shows that during the reporting period, the company was affected by the overall situation. Chip prices continued to decline and customer demand decreased. While the company adjusted its product structure, the supplementary production market did not show a rapid decline, resulting in 18 years of performance decline. However, sales in deep ultraviolet showed a rapid growth of more than 100%. In addition, in the company's new layout of several markets (digital display). Landscape lighting, high-end display screen, backlighting, vehicle lighting, plant lighting chips) are also recognized by customers, which can maintain the sustainable development of the company in the future.


Yuanrong Technologies said that in 2018, the overall demand of the LED industry tended to be saturated, and affected by the external environment, the sales price and quantity of products fell sharply, resulting in a 47.4% decline in business income compared with the same period last year. In addition, in 2018, due to the intensification of competition, product prices have been adjusted, showing a downward trend; due to the decline in product sales, the increase in inventory, and the corresponding adjustment in output, resulting in a rise in fixed costs of products and a proportional increase in operating costs, resulting in a decline in gross product interest rates.


| Sunshine Lighting's net profit fell by 412% to 385 million yuan in 2018


Sunshine Lighting (600261) released its annual report for 2018 on the evening of April 22. During the reporting period, the company realized business income of 5.616 billion yuan, an increase of 11.47% compared with the same period last year, and realized net profit of 385 million yuan belonging to shareholders of listed companies, a decrease of 4.12% compared with the same period last year.


In view of the reasons for the decline of net profit, the company said that first, abnormal fluctuations in the short period of exchange rate disrupted the price system, which made the company not respond to the price in time, and easily misjudged the trend of exchange rate, which was not conducive to the correct use of financial risk control tools. Rapid changes in exchange rates affect not only sales orders, but also gross margin fluctuations. Second, the continued rise of bulk materials and the price of some special materials (such as patch resistors, patch capacitors, etc.) have risen sharply, which in the short term has led to a sharp rise in company costs and a decrease in gross profit margin. Third, the global economic situation and industry pattern fluctuate in varying degrees. Companies pay higher fees at the sales and management sides to cope with and lay out a more sustainable business model to prevent systemic risks, leading to a significant increase in overall cost rate.


In terms of branch business, in 2018, the company's revenue of LED light source and lighting products increased by 5.119 billion yuan, 13.68% year-on-year, accounting for 92.4% of revenue and sales of 431 million sets, an increase of 15.24% year-on-year; the revenue of energy-saving light source and lighting products decreased by 13.94% year-on-year, accounting for 7.6% of revenue and sales of 279 million sets, an increase of 8.22% year-on-year.


In the more complex international economic situation and more intense industry competition environment, the company has achieved good results in the following aspects.


1. Increase R&D investment and enrich product categories. During the reporting period, the company continued to promote R&D investment in original and application-oriented lighting, promoted research and development of lighting cloud platform and health lighting, realized new sales of multi-functional integrated intelligent lights, automatic detection emergency lights, infrared remote control lights, voice control lights and other lighting fixtures, and developed new products in line with market demand.


2. The proportion of the company's lamp business continues to rise, and has formed the main lamp categories such as tube lamp, flat lamp, ceiling lamp, bracket lamp and so on. The monthly shipment of tubular lamps can reach more than 1 million sets. With the basic business framework in the fields of projection lights, working lights, ceiling lights and street lights, the competitiveness of the project has begun to emerge.


3. Pay attention to brand competition and enhance enterprise value. During the reporting period, the company increased market investment and refined channel construction. Innovative channel mode reform in domestic market, increase brand investment and channel sinking, actively increase the layout of new engineering fields; key customer system is included in the top 100 lighting collection projects of real estate enterprises such as investment invitation, Longhu, Xuhui, Datang, Zhongliang, Rongchuang, winning the bid for Shenzhen Metro, Hangzhou Metro, Suzhou Metro, Southern Power Grid, Huawei and other landmark projects; active layout of smart home lighting, Cooperate with Internet companies such as Ali and Jingdong to develop smart bulb projects. Overseas markets rely on the United States, Belgium, Germany, France, Australia and other sales companies to expand retail and engineering business.


4. The proportion of sales of new products has increased, and the production of intelligent lighting products has increased. During the reporting period, the company intensified the development of new products and clarified the proportion of new products in sales revenue. One of the most imaginative things about lighting the future is intelligent IOT, where everything is interconnected. During the reporting period, the company's intelligent lighting products have begun mass production. For the first time, 100,000 sets of light source orders and 10,000 sets of intelligent lighting orders for individual customers have been completed. Anhui Sunshine and Tencent, Jingdong and Tianmao have maintained good early communication, and are introducing products.


| Ocean King's net profit increased by 25% to 190 million yuan in 2018


Ocean King disclosed its annual report for 2018 on April 22. During the reporting period, the company realized business income of 1.253 billion yuan, an increase of 14.24%, net profit of shareholders belonging to listed companies of 190 million yuan, an increase of 25.00%, and basic earnings per share of 0.2638 yuan.


Ocean King said that the reasons for the company's revenue growth are: digging deep into customer needs; taking technology-driven new areas as the pillar of enterprise development; improving the organizational and operational system, finding and solving problems of self-management, and promoting the spirit of struggle of middle and high-level leadership team. The reasons for the increase of net profit are as follows: the company's operating income increases, the scale effect is obvious, the operating cost rate improves obviously, the operating cost increases by 12.15% during the reporting period, which is lower than the income growth; the company continuously deepens its independent operation, and the management cost is effectively controlled. During the reporting period, the management cost increases by 12.51%, which is lower than the income growth.


During the reporting period, the company continued to develop and innovate in product technology, further strengthening the company's dominant position in the field of special lighting.


During the reporting period, the sales of the company's "Lighting + Internet" multi-functional lighting system products achieved rapid growth. Great progress and breakthroughs were made in the development of new controller products. The company continued to promote the development and application of new light source products such as laser light source and OLED, and established an integrated production system with suppliers.


| Tailong Lighting's net profit increased by 11.49% to 57.3504 million yuan in 2018


Tailong Lighting disclosed its annual report for 2018 on April 22. During the reporting period, the company realized operating income of 487 million yuan, an increase of 44.16% compared with the same period last year; net profit attributed to shareholders of listed companies was 57.3504 million yuan, an increase of 11.49% over the same period last year; and basic earnings per share was 0.53 yuan.


In terms of sub-products, the revenue of lighting appliances is 345 million yuan, an increase of 15.65% over the same period of last year, accounting for 70.81% of the total revenue. Revenue of LED display screen was 103 million yuan, which increased by 316.88% year on year, accounting for 21.12% of total revenue. The revenue of photoelectric labels was 37.65 million yuan, an increase of 182.84% over the previous year, accounting for 7.73% of the total revenue.


Tailong Lighting said that the company's management continued to strengthen R&D investment and management level, improve product performance, focus on the R&D and production links of applied products in the field of commercial lighting, constantly deepen business cooperation with a large number of high-quality customers, the number of large customers gradually increased, and sales scale steadily expanded; the company continued to consolidate the original customers, and continuously introduced new ones. High-quality customers, make full use of the company's technology and quality advantages, actively expand market segments in other areas, to find new growth points for the company's performance, and promote further growth of the company's business income. The double growth of the number of key customers and orders promotes the rapid growth of the company's performance.


| Net profit of Qianzhao Optoelectronics fell by 14.5% to 180 million yuan in 2018


Qianzhao Photoelectric disclosed its annual report on April 23, 2019. In 2018, the company realized its total operating income of 1.03 billion yuan, down 8.9% from the previous year; realized its net profit attributable to the owner of the parent company of 180 million yuan, down 14.5% from the previous year; and earnings per share of 0.26 yuan.


According to Qianzhao Photoelectric, the main reasons for the decline in net profit are as follows: 1) influenced by the whole industry environment, the market price of LED chips declined, resulting in a decrease in gross interest rate; 2) affected by the expansion of the company's production, management costs and financial costs increased year on year.


From the perspective of business structure, "epitaxy chip" business revenue is 1.02 billion, down 7.07% year-on-year, accounting for 98.84% of revenue; LED related products revenue is 2.037 million yuan, down 85.71% year-on-year, accounting for 0.2% of total revenue.


During the reporting period, the company continued to adhere to the concept of "industry-oriented", using capital operation as a means to further cultivate the main industry of LED, endogenous growth and extension of mergers and acquisitions simultaneously, in order to seek a new round of development of the company. At the same time, we should actively march into the New Blue Sea and seek opportunities for leapfrog development. After the first phase of production of the newly built blue-green LED base in Nanchang, the company will add 600,000 GaN LED epitaxies and chips per month to Qianzhao Photoelectric, bringing the total production capacity of GaN LED epitaxies and chips of Qianzhao Photoelectric to 1 million chips per month. The release of new production capacity guarantees the acquisition of high quality and stable blue and green light customer resources and market resources.


Yangzhou subsidiary is currently one of the largest suppliers of red and yellow light chips in mainland China. With the gradual completion of Yangzhou Red and Yellow light expansion construction in 2018, it is conducive to the company to continue to maintain its leading edge in red and yellow light.


In the field of high-end compound chips, in November 2018, the company announced that it had invested 1.59 billion yuan to build semiconductor R&D and production projects, such as VCSEL and high-end LED chips, to promote the upgrading of LED chip technology, expand the scope of application and localization of high-end products.


In addition, in the first quarter of 2019, Qianzhao Optoelectronics Company realized 185 million yuan in total revenue, down 12.3% from the same period last year; the net profit attributable to the owner of the parent company was 25.61 million yuan, down 94.6% from the same period last year.


| Maoshuo Power Company's net profit in 2018 changed from profit to loss, with a total loss of about 256 million yuan.


Maoshuo Power disclosed its annual report for 2018 on April 22. During the reporting period, the company realized 1.338 billion yuan in revenue, down 19.02% from the same period last year; the net loss of shareholders belonging to listed companies was 256 million yuan, down 20.57.60% from the same period last year.


Maoshuo Power said that during the reporting period, facing the complex and changeable business environment and the increasingly competitive market situation, the company further deepened the reform of the management system, enhanced internal cost control, fully exerted the resource integration function of comprehensive budget management, improved the efficiency of the company's operation, open source and reduce expenditure, and maintained a small growth in the main business of the same caliber, but due to macroeconomic and phase. Environmental impact of the customs industry, photovoltaic assets, investment and other impairments lead to loss of the company.


In terms of sub-products, during the reporting period, SPS switching power supply realized annual revenue of 785 million yuan, an increase of 1.25% over the same period last year, accounting for 58.71% of revenue; LED driving power supply annual revenue of 422 million yuan, an increase of 13.86% over the same period last year, accounting for 31.54% of revenue; photovoltaic inverters business income of 7505.01 million yuan, a decrease of 26.53% over the same period; photovoltaic power generation business income of 4453.01 million yuan, a decrease of 20.69% over the same period; The period decreased by 100.00%.