The focus of the industry and the media is when will the spring of the LED lighting market come? The majority of manufacturers are walking and worrying about becoming a martyr, and slowly changing the cannon. However, as of now, the answer to this question has become clearer and clearer. It can be said that the explosion of the LED market has already dreamed of reality.
According to reports, in the first half of this year, the overall output value of the LED industry continued to rise, with a year-on-year increase of 25, higher than the increase of 23 last year. Correspondingly, in the semi-annual report of the lighting listed company in 2013, 91 lighting listed companies increased their operating income in the same period last year. Among them, among the listed companies whose operating income increased year-on-year in the first half of the year, 13 companies increased by more than 50% year-on-year; 7 enterprises increased by 30 to 40 year-on-year; 30 enterprises increased by 20 to 30 year-on-year; The increase rate was 10 to 20; 23 companies increased by 10% year-on-year.
It is worth mentioning that in 2013, the performance of Shenzhen listed companies can be described as two days. First, among the top five companies in terms of year-on-year growth in operating income, Shenzhen listed companies have four seats, namely Shenzhen Ruifeng Optoelectronics Co., Ltd. (67.01), Shenzhen Changfang Semiconductor Lighting Co., Ltd. (53.47), and Shenzhen Jufei Optoelectronics Co., Ltd. (52.54) and Fangda Group Co., Ltd. (39.21), the performance is eye-catching. At the same time, at the end of the year, revenue revenue increased by 5, Shenzhen listed companies also occupy 3 positions, namely Shenzhen Wanrun Technology Co., Ltd. (2.82), Shenzhen Alto Electronics Co., Ltd. (-5.01), Shenzhen Shiyida Technology Co., Ltd. (-47.79).
It is undeniable that in the current big environment is not full of prosperity, the performance of lighting listed companies is warm and the LED market is gradually rising, and the LED market has gradually turned from outdoor lighting to commercial lighting and home lighting. Even Wu Changjiang, who has taken a wait-and-see attitude toward the development of LED lighting in previous years, has publicly stated that the spring of LED lighting has arrived.
Taking Shenzhen Ruifeng Optoelectronics Co., Ltd. as an example, in the first half of this year, the company’s revenue was 67.01, a year-on-year increase. It wrote in the “2013 Semi-annual Report†that the company realized operating income during the reporting period. It was 294,438,800 yuan, a year-on-year increase of 67.01; net profit was 2,761.21 yuan, an increase of 31.61. At the same time, the "semi-annual report" also described: the lighting market, with the further implementation of the national energy conservation subsidy policy, and the National Development and Reform Commission, Ministry of Science and Technology The "Semiconductor Lighting Energy Conservation Industry Plan" formulated by the Ministry of Industry and Information Technology, the Ministry of Finance, the Ministry of Housing and Urban-Rural Development and the six major ministries and commissions of the General Administration of Quality Supervision, Inspection and Quarantine was officially released. Some traditional lighting companies have increased the promotion of LED lighting, and the lighting market has also followed commercial lighting. The outbreak and the start of indoor lighting came out of the dilemma of the second half of 2012, and the demand for downstream applications was strong. In the first half of 2013, the company's sales of lighting LED products was 137 million yuan, an increase of 49.23.
It is not difficult to see that the majority of listed companies are full of confidence and determination in the current and future of the LED market.
The government is weaning, can you still eat?
Although the overall performance of the current lighting listed companies is on the rise, some of the problems hidden in the annual report cannot be ignored. For example, the government subsidies affect the company's performance and net profit, so that the industry can not help but worry: the government is weaning, can you still eat?
It is undeniable that the rise of the LED industry in China is not unrelated to the government's vigorous promotion. In the early stage, the huge subsidies granted by the local government have greatly dressed up some of the LED company's transcripts. The beneficiaries include a large number of listed companies such as Sanan Optoelectronics, Qinshang Optoelectronics, and Dehao Runda.
According to Sanan Optoelectronics, Sanan Optoelectronics announced that in the past three years of 2012, 2011 and 2010, Sanan Optoelectronics received government subsidies of 328 million yuan, 805 million yuan and 253 million yuan respectively. They accounted for 40.5, 86 and 60.4 of the net profit of the year, respectively, and the ratio is high, which is staggering. According to the first quarter report of Sanan Optoelectronics, during the reporting period, the company's net profit attributable to shareholders of listed companies was 160 million yuan, a year-on-year decrease of 18.77. According to industry analysts, this year, Sanan Optoelectronics only received government subsidies of 11.1 million yuan, resulting in The company's non-operating income decreased by 68.4% to 48.26 million yuan year-on-year.
In the first half of this year, it is best to see that the government subsidy has a huge impact on the net profit of LED listed companies. According to the 2013 report of Dehao Runda, during the reporting period, the company achieved operating income of 1.353 billion yuan, a year-on-year increase of 10.52; net profit was 50.501 million yuan, a year-on-year decrease of 59.38.
According to the data, Dehao Runda's government subsidy for the current profit and loss in the middle of 2012 was 154 million yuan, while this figure for the first half of this year was only 57.410 million yuan, a difference of nearly 100 million yuan, reaching 96.59 million yuan. According to the first three quarter earnings forecasts released by Dehao Runda, the company expects net profit of the first three quarters to be 46.172 million to 80.81 million yuan, down 30-60% year-on-year. For reasons, Dehao Runda also believes that it is greatly reduced by government subsidies. Caused by factors such as influence.
According to media reports, Dehao Runda received government subsidies of 224 million yuan, 310 million yuan and 270 million yuan in 2012, 2011 and 2010, respectively, accounting for 138, 79.1 and 129 of the net profit of the year. .
Industry veterans said that government-related subsidies will not continue forever, and similar subsidies will be less and less in the future, and the amount will become smaller and smaller. By then, the main business strength of the listed company and the actual profitability will determine the future development trend of the company.
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