The LED industry has seen a significant recovery momentum in the near future. The major manufacturers in the industry are in a state of full production, and there is a certain shortage of supply in the short-term. There is also a general demand for price increases in the industrial chain. The industry expects that the supply and demand situation will be tight in the second and third quarters. The tight supply and demand of the industry is mainly related to two factors. First, the continuous growth of downstream demand, especially the explosive growth of the consumer goods industry such as lighting, and the second is that the industry itself has not expanded its production for many years. The director of LED chip manufacturer Huacan Optoelectronics introduced that since November last year, the company has basically been in full production; the price of the industry leader Sanan Optoelectronics S-30MB/S-32BB series has been raised since January 10th. 8%. Related concept stocks: Dry photo optoelectronics: open source and reduce expenditure, return to growth Ganzhao Optoelectronics released annual report: the company achieved total revenue of 1.15 billion yuan in 2016, an increase of 87.09%, achieving net profit attributable to shareholders of listed companies of 48.38 million yuan, an increase of 153.63% . The company also released the 2017 first quarterly report: It is estimated that the net profit attributable to shareholders of listed companies will be RMB 35.64 million to RMB 39.96 million, an increase of 6500%-7300% over the same period of the previous year. The industry supply and demand pattern has improved. In 2016, the LED industry market finally returned a warmth in the Red Sea killing in the past three years: Taiwan LED practitioners have experienced market competition with mainland Chinese manufacturers in the past few years, and the background of the mainland industrial chain is gradually maturing and supply is supporting progress. Under the circumstance of dilemma, many Taiwanese manufacturers reduced their loss-making capacity in 2016. This move indirectly led to the market in short supply after the second quarter, the market demand and price of chip products showed a good development trend. In the future, new capacity and competition from overseas will still exist, but in terms of price competitiveness, it is difficult to have advantages compared with the mainland industrial chain. The industrial pattern of the LED chip industry has been relatively stable, and the dry photo is in the field of red and yellow light and three. The strategy of keeping the blue and green light closely following the first echelon will continue to be effectively implemented. Open source and cost reduction, cost control and initial results. In the past few years, the company invested a large amount of money into the blue-green chip field, resulting in higher R&D and amortization of fixed assets. At present, the blue-green chip project has achieved mass production and shipment, and the growth of sales revenue and the improvement of the company's internal cost control have led to a virtuous cycle of product cost and management cost. Considering that the company's blue-green optical chip is gradually full in the fourth quarter of 2016, it is expected that sales growth in this area will become an important profit growth pole for the company in 2017. According to the company's annual report, the operating profit in 2016 was only 13.598 million yuan (45.58 million of the total profit came from government subsidies). Judging from the data of previous years and the basic situation of the company, it is still expected that the positive development of 2017 will continue. : As the company gradually focuses on the chip industry and shrinks non-profit projects, 2017 is the year of recovery that truly reflects the company's profitability. Hejun Capital will be promoted to the largest shareholder, and endogenous extension will help. Since the end of December 2016, after Wang Weiyong, the company's former largest shareholder, has repeatedly reduced its holdings, and Zheng Zhengde and his concerted action Suzhou and is becoming the company's largest shareholder. Hejun Capital has rich experience in management improvement, efficiency improvement and capital operation. It is judged that the company is expected to use the capital strength of Hejun in the diversified field in the future. The integration reaction between Jun and Sunshine is worth looking forward to. The employee stock ownership plan highlights the company's development confidence. On February 28, the company announced the second employee stock ownership plan. The initial proposed fund raising amount does not exceed 60 million yuan, and a trust plan is established to set the priority and inferior level according to the ratio of 2:1. Not more than 180 million yuan, the lock-up period is 12 months, of which the proportion of executives in the total share of the employee stock ownership plan is 25%. In 16 years, the management of the company has changed, and many fresh blood has been added to the company's development management. This employee stock ownership plan will effectively enhance the company's cohesiveness and cover a wide range. It also demonstrates the confidence to share the company's development with employees. Aoyang Shunchang: The annual report performance is slightly lower than expected. Looking forward to the 2017 LED chip and ternary battery resonance, Aoyang Shunchang released the 2016 annual report. The company achieved revenue of 1.99 billion yuan in 2016, an increase of 19.77% year-on-year. The profit was 206 million yuan, down 14.83% year-on-year. The results were slightly lower than expected and were greatly affected by the asset impairment losses in the fourth quarter. In 2016, the company achieved revenue of 1.99 billion yuan, a year-on-year increase of 19.77%, net profit of 206 million yuan, a year-on-year decrease of 14.83%, and non-net profit of 26.58 million yuan, down 2.98% year-on-year, slightly lower than expected. Among them, in the fourth quarter, the asset impairment loss was 41.26 million yuan, which had a great impact on the company's earnings. In terms of the spin-off of each business, the LED chip contributed a net profit of 63.59 million yuan, and the ternary battery contributed a net profit of 26.58 million yuan. The metal logistics business is the main contribution to the performance, achieving a gross profit of 275 million. The profitability of LED chips continued to improve, and continued to be optimistic about the volume and price increase in 2017. The company's LED chip is a white light lighting chip, the current production capacity of 200,000 pieces / month, in 2016 produced 2.05 million pieces, sales of 2.54 million. The new capacity of 60 pieces/month is expected to start climbing in the second quarter, and it will be fully produced at the end of the second quarter. In 2017, the full production capacity can reach 7.5-8 million pieces. The downstream customers of the company are mainly the domestic packaging leader Mulinsen. In December 2016, the company introduced Mulinsen (26.88% stake in Hualin Optoelectronics, a subsidiary of Mulinsen), which has a stronger bond with major customers and can reduce related expenses. In 2016, benefiting from the improvement of supply and demand structure brought about by the outdated production capacity of the entire LED chip industry, the company's LED chips began to increase prices in June. After the price increase, the gross profit margin of the products reached 30%. It is expected that the current price will remain at or slightly increase in 2017. . The ternary battery capacity gradually released its contribution to the performance. Subsidiary Tianpeng Energy now mainly produces NCM523 ternary battery. The energy density of the battery cell is about 200wh/kg. After the pack, it can reach the highest subsidy requirement. The daily production capacity is 300,000, and the newly built capacity of 1 million/day is constructed in two batches. The first batch of 500,000/day capacity will gradually enter the equipment installation and commissioning phase, and is expected to be released in the second quarter. The company mainly supplies Zhongtai in the field of passenger vehicles, and also cooperates with Condit and Beiqi, and gradually enters the supply chain of logistics vehicles such as Dongfeng and Jinlong. The announcement of the 293th new model shows that the company is supporting two pure electric engineering vehicles of Xiamen Jinlong. The development of new customers will help the production and sales of the company's power battery.
Hubei Daxin Electronic Technology Co., LTD , https://www.nbaiwellgroup.com