The 2017 annual forecast has been released, and several families are happy. Today, we start with six LED display enterprise forecasts listed in China's A-shares for a more scientific and objective analysis, and get more accurate and accurate industry information, used to summarize the development experience of the industry in 2017, for bold prediction 2018 The LED display of the year shows the development of the industry. The 2017 annual forecast has been released, and several families are happy. Today, we start with six LED display enterprise forecasts listed in China's A-shares for a more scientific and objective analysis, and get more accurate and accurate industry information, used to summarize the development experience of the industry in 2017, for bold prediction 2018 The LED display of the year shows the development of the industry. In 2017, the listed company's operating income and net profit profile! Liard: Expected 2017-01-01 to 2017-12-31 performance: total operating income of 6.511 billion yuan, an increase of 48.71% over the same period last year, operating profit of 1.194 billion Yuan, an increase of 70.65% over the same period of last year, the net profit attributable to shareholders of listed companies was 1.208 billion yuan, an increase of 80.59% over the same period last year. Chau Ming Technology: Estimated 2017-01-01 to 2017-12-31 Results: Total operating income is 3,206,691,100 yuan, an increase of 73.33% over 2016; operating profit is 338,747,800 yuan, an increase of 90.54% over 2016; total profit is 359,667,200 Yuan, an increase of 89.88% compared with 2016; net profit attributable to shareholders of listed companies was 296,244,900 yuan, an increase of 77.96% over 2016. Abbyson: Expected results from 2017-01-01 to 2017-12-31: total operating income of 1,538,115,480.04 yuan, an increase of 31.91% over the same period of last year; operating profit of 109,084,277.08 yuan, a decrease of 36.75% over the same period of last year; total profit of 117,624,941.93 yuan, compared with last year During the same period, it decreased by 34.28%; the net profit attributable to shareholders of listed companies was RMB 101,995,764.42, a decrease of 32.61% over the same period of last year. Lehman shares: Expected 2017-01-01 to 2017-12-31 Results: Total operating income was 644,508,900 yuan, up 14.58% over the same period of last year, operating profit was 20,899.0 thousand yuan, down 30.50% over the same period of last year, total profit was 26,626,800 yuan Compared with the same period of last year, the net profit decreased by 23.44%, and the net profit attributable to shareholders of listed companies was 20,177.6 thousand yuan, a decrease of 34.40% over the same period of last year. Alto Electronics: Expected results from 2017-01-01 to 2017-12-31: total operating income of 1,028,080,645.56 yuan, an increase of 124.92%; operating profit of 124,675,685.60 yuan, an increase of 33.99%; total profit of 141,037,904.94 yuan, an increase of 39.53%; The net profit of shareholders of listed companies was 131,907,130.43 yuan, a year-on-year increase of 52.88%. Lianjian Optoelectronics: Expected 2017-01-01 to 2017-12-31 Results: Total operating income was 4,000,449,497.53 yuan, up 42.70% year-on-year; operating profit -179,595,657.39 yuan, down 139.71% year-on-year; total profit was 478,777,104.62 yuan, up from the same period of last year 1.34%; net profit attributable to shareholders of listed companies was 404,548,159.52 yuan, an increase of 0.39% over the same period of the previous year. In 2017, the overall LED display industry was improving, and the turnover of the six listed companies was improved to varying degrees. The highest turnover was Liard, which was 6.511 billion yuan; the fastest increase in turnover was Alto Electronics, which increased by 124.92% year-on-year. In addition, there is a year-on-year growth of 73.33%. The analysis of the operating income of the six listed companies can be clearly seen. The reasons for the increase are mainly the following. First, the order increased. Liad’s new orders for new and new winning bids in 2017 reached 10.2 billion yuan, 17% more than the target orders set at the beginning of the year of 8.75 billion. Due to Liard's multi-drive mode, only the small-pitch orders can best reflect the current status of the LED display industry. In 2017, Liard's small-pitch orders were about 2.75 billion yuan, an increase of 51% over the same period last year. Zhou Ming Technology said that the increase in operating income was the main reason for the strong growth of the main business, especially the competitiveness of LED small-pitch products continued to increase and maintained rapid growth; Ai Biesen, Lianjian Optoelectronics, Lehman Optoelectronics also increased the LED display business orders Listed as an important reason for performance growth. Second, the subsidiary's performance commitments and the performance of the subsidiaries are consolidated. The most prominent is Alto Electronics, whose main reason for its growth is the joint venture of its subsidiaries Shenzhen Qianbaihui Lighting Engineering Co., Ltd. and Shenzhen Alto Lixiang Optoelectronics Technology Co., Ltd. Among them, Liard and Chau Ming Technology said that the increase in the performance of the Group also benefited from the high quality of its subsidiaries. From the above analysis of the reasons, we can see that the LED display industry is improving in 2017, the market environment continues to improve, and the market continues to expand. Especially the small spacing, whether it is the product or the market, has considerable potential to be tapped. Liad's growth of more than 50% in the field of small-pitch products is a good illustration of this fact. The fact that the relevant investment in the previous period has also received corresponding returns proves to some extent that the opportunity of the industry has become a profit growth point under the power of capital, and capital has gradually grown into an important force in the industry, and its status has continued to rise. From the annual report, we can see a very prominent phenomenon: although the company's operating income has generally increased, but the net profit of most companies has not been correspondingly improved. For Alto Electronics, which has the fastest growth in operating income, net profit increased by only 52.88% year-on-year, far lower than the year-on-year growth rate of operating income; Lianjian Optoelectronics, whose operating income increased by more than 40% year-on-year, has only a year-on-year increase in net profit. 0.4%. Abbyson and Lehman are not optimistic about the year-on-year increase in net profit. The exceptions are only Liard and Chau Ming Technology. Liard increased its operating income by less than 50% year-on-year, and achieved 80% net profit growth year-on-year; Zhouming Technology's operating income was basically synchronized with the same year-on-year net profit. The polarization of profit margins is different from the different business strategies of companies and the different capital operations in 2017. In the disclosed forecasts, the following reasons can be obtained for the changes in profit margins of various companies in 2017. The first is the success of the early stage investment into the profit stage and the multi-drive business model. Liad and Zhou Ming had a large investment in the early stage, and through the integration and coordination of various fields, the profit growth points of the enterprises broke out. Such as the landscape of Liard, culture and other fields. Its 2017 revenues exceeded 6.5 billion, with orders reaching 10.2 billion, but the small-pitch orders were only 2.75 billion, accounting for less than 25% of the total order value. Second, the company is currently in the early stage of investment and the end of the investment income of the previous investment project. For example, Zhou Ming Technology and Ai Bison have made large investments in 2017, such as mergers and acquisitions, large projects in the early stage. Zhouming Technology has hundreds of millions of M&A investment in 2017. Abbison has large net expenditures on M&A and Super League projects, which have a significant impact on net profit. The most significant impact on the net profit at the end of the previous investment income was Lehman shares, in which the super-projects were not renewed, resulting in a year-on-year decline in sports revenue. The third is the impact of non-operating losses. There are three factors that cause impact, namely exchange loss, bad debts and goodwill impairment. Among them, the exchange rate has the widest influence, and only two companies, Ai Bison and Lianjian, have explained this. Due to different business strategies and stages, the profit margins of companies in 2017 are very different. At present, the endogenous synergy under the multi-drive mode is an important way to obtain high net profit. His success and popularity also indicate that capital has gradually become the most important production factor in the LED display industry. Enterprises that are actively deployed in 2017 may have a bumper harvest and a beautiful report in 2018, when the transparent screen and landscape display are coming to an end. From the forecast of the six listed companies, we can see that the LED display industry is generally better. In the case that the potential of small pitch is still infinite, the transparent screen application is further promoted and the landscape display is driven by the policy, the LED display industry in 2018 is bound to outperform 2017. (
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