Xiamen Xinda's 1.1 billion LED revenue, net profit is only 3 million, Haotian Optoelectronics lost nearly 60 million yuan last year
On the evening of April 25, Xiamen Xinda (000721) released its 2016 financial report. The company achieved operating income of 40.291 billion yuan, an increase of 37.49% over the same period of the previous year; total profit was 176 million yuan, an increase of 3.59% over the same period of the previous year.
During the reporting period, the photovoltaic panel (including display packaging, white packaging, and application products) achieved operating income of 1.148 billion yuan, an increase of 43.96% over the same period of the previous year; total profit was 3.0829 million yuan.
Cinda Optoelectronics LED package expansion project is due to the change in the use of funds raised during the reporting period, still in the construction period. The reasons for the Anxi LED package new construction project and the equity acquisition project are not expected to reach the planned progress or expected revenue are as follows:
1. The delay in the progress of the plant construction has affected the overall progress. It has been completed and started trial production in August 2016. 2. At the initial stage of production, the company is in the integration stage of supply chain, product structure and new employees, and the production capacity has not reached the expected level.
At the same time, during the reporting period, Haotian Optoelectronics' weak bargaining power, high procurement cost, product price drop, inventory depreciation reserve, pre-merger receivables, large amount of bad debt provision and supply chain integration and expansion progress did not meet expectations. The data shows that Haotian Photoelectric's net profit last year was 59.927 million yuan.
During the reporting period, the optoelectronics industry accelerated its industry concentration in the context of chip price increases and expansion. The company's optoelectronics plate firmly implements the strategy of “bigger and stronger packaging products and better lighting productsâ€. Through expansion, internal integration, and production and research linkage, we strive to become a leading enterprise in the field of LED packaging in China.
The operation of the subsidiary Haotian Optoelectronics during the reporting period did not meet expectations, mainly due to the internal integration period after the merger in the first three quarters. The expansion of production schedule did not reach the expected result, the capacity was not fully released, and the market expanded production but the product quality. The control is not in place, the customer complaints increase, and the accounts receivable before the merger are accrued for bad debts. In addition, the subsidiary Fujian Optoelectronics officially completed the production in Quanzhou (Hutou) Photoelectric Industrial Park.
In terms of production, the display packaging product line is integrated and expanded in an orderly manner. Xiamen, Anxi, Shenzhen, and Zhongshan Photovoltaic Company have achieved synergy through integration; display packaging, LED street lamps and white light product production lines have been put into production one after another, and the benefits are gradually emerging. Production capacity and sales volume have increased steadily.
In terms of market sales, the packaging sector achieves flat management through comprehensive integration of sales teams, strengthens product promotion and enhances brand awareness;
The outdoor lighting business has opened up the market for professional fields such as subway track lighting and high-bar lighting. It successfully won the bid for the two sections of Xiamen Metro and the lighting project of Haitian Terminal. The road lighting has completed the authorization of the provincial and provincial highways and signed some tenders. contract;
The indoor lighting products adopt the sales mode of online and offline two-wheel drive, and enter the Shangchao at the same time to put on the e-commerce platform; actively expand the overseas market, through the German EON company product certification and establish a cooperative relationship, complete the Philippine large chain 4S shop indoor lighting products Delivery, etc.
In terms of R&D, the packaged products complete part of different material combination verification and reliability verification. The lighting products are optimized and upgraded to accelerate the development of new products. Some products have passed European and American standards, laying the foundation for the layout of European and American markets.
In 2016, there were nearly 20 research and development projects for optoelectronic panel display packaging products, application lighting products and white LED products, and some projects have been mass-produced. Improve the two series of LAMP and SMD products, develop RGB large-view secondary light distribution technology, and at the same time carry out research on improving heat dissipation, improving moisture resistance level, and improving welding solder joints.
The application of lighting panels will increase the development of new products, enrich the product line of lamps, and realize batch and standardization of products. White light plate optimization product program, continue to do a good job in the promotion of high-voltage series products, research and development of high-end SMD and filament products, as a key promotion products in foreign markets.
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