Reasonable, unexpected.
During the Spring Festival of 2018 (as of February 26), nine LED listed companies have released 2017 annual performance reports. Only Dehao Runda and Changying Precision's net profit declined, and the other seven companies performed better.
From the evening of February 27 to the morning of February 28, 23 LED listed companies rushed to release the 2017 performance report. Among them, the net profit of five companies, such as Jufei Optoelectronics, Meida Digital, Lehman, Ai Biesen and Overclocking, showed a different decline, and Netac Intelligence experienced a slight decline. The remaining 17 LED listed companies are showing growth.
Overall, LED companies have enjoyed a good harvest in 2017, bringing comfort to the Chinese LED industry and bringing confidence to the LED industry in 2018.
Upstream
It is undeniable that 2017 is a year of rapid growth in the LED chip industry.
According to the data of the High-tech Research Institute LED Research Institute (GGII), the output value of LED chips in China in 2017 reached 18.8 billion yuan, accounting for nearly 40% of the global LED chip production value. GGII expects that China's LED chip companies will continue to expand production in 2018-2019, and it is expected that China's output value will exceed 50% in 2019.
Keep the cloud open to see the moon. For Ganzhao Optoelectronics, 2017 is a very hard year. We will continue to increase investment in production scale, further expand production through investment and capital increase, and enhance the company's overall operational capability and comprehensive competitiveness.
As Ganzhao Optoelectronics clearly defined the strategic direction of LED industry, it adjusted and shut down other non-chip and epitaxial wafer businesses whose performance could not be improved, resulting in a slight decline in revenue. Express data shows that in 2017, Ganzhao Optoelectronics achieved a total operating income of 1.13 billion yuan, down 1.68% year-on-year. Despite this, the production and sales volume of dry photo-electric chips and epitaxial wafers increased, the cost per unit of product decreased, and the gross profit margin increased. The net profit attributable to shareholders of listed companies in 2017 increased by 335.20% year-on-year, and the speed was amazing.
The net profit of Huacan Optoelectronics increased by 87.92% year-on-year, which also gave an excellent answer to 2017.
In the whole year of last year, Huacan Optoelectronics LED chip production capacity has achieved significant growth, which has led to a large increase in production and sales of chip products. Last year, Huacan Optoelectronics' research and development expenses continued to increase, and the overall production and sales structure of the chip was adjusted to the high end. The further reduction of chip cost under the scale effect and the gathering of customer structure to large-scale high-quality customers have made the annual gross profit margin increase significantly compared with last year. In addition, the overall internal cost reduction of Huacan Optoelectronics has been significantly improved, and the technical transformation of the production line has achieved certain results. Progress has played a positive role in improving the company's production efficiency and improved the company's profitability.
Nowadays, the scale of Huacan photoelectric LED chips has ranked second in the industry in China.
Midstream
In 2017, the LED packaging industry continued to continue the market recovery in the next year in 2016, and the market still maintained rapid growth. Stimulated by the industry situation, domestic LED packaging manufacturers have expanded. At the same time, affected by the improvement of China's packaging technology and cost advantages, China has gradually taken over the global LED packaging industry transfer, and has now become the world's largest LED packaging production base, and the market share continues to increase.
According to the data of the High-tech Research Institute LED Research Institute (GGII), the output value of China's LED packaging in 2017 was 87 billion yuan, up 18% year-on-year; GGII expects that China's LED packaging industry in 2018-2020 will maintain a growth rate of 13%-15%. The output value of 2020 will reach 128.8 billion yuan.
According to the 2017 performance report issued by 7 LED packaging listed companies such as Hongli Zhihui, Zhaochi, and Ruifeng Optoelectronics, packaging companies are undoubtedly not a good year.
Undoubtedly, Hongli Zhihui, as a member of the first echelon of the domestic packaging industry, will surprise everyone every year. The same is true in 2017, with operating income exceeding 3.6 billion yuan, and the net profit attributable to shareholders of listed companies is growing at a rate of 154.87%.
Hongli Zhihui can achieve such impressive results. On the one hand, due to the steady growth of LED market demand, the company's business scale continues to grow, and its main business has maintained steady growth. On the other hand, its acquired subsidiaries also have operating results. increase.
In recent years, the investment of Zhaochi in the LED field is believed to be in the eyes of everyone. In the chip field, the packaging field, and the lighting field, breakthroughs have been made. In particular, Zhaochi Energy has successfully entered the first echelon of the packaging industry with its nearly 5,000 KK/month capacity.
Therefore, in 2017, the net profit of Zhaochi shares increased by 63.25% year-on-year, and its LED products can be said to be indispensable.
In addition, Ruifeng Optoelectronics and Changfang Group are also growing at a rate of over 150%.
Of course, there are surprises in the packaging industry in 2017. For example, Jufei Optoelectronics, in order to rapidly increase the global market share, continue to increase market development efforts, and related costs, resulting in a decline in net profit of 61.44% in 2017, this rate of decline is also very surprising.
Downstream
In 2017, the rapid increase in LED lighting penetration rate promoted the rapid expansion of the LED lighting market. Benefiting from the outbreak of small-pitch LED displays, the LED display market has also shaken off the trend of low growth in the past. At the same time, LED niche markets such as LED lights, LED smart lighting, LED plant lighting and other emerging markets also showed growth of more than 20%.
According to the data of the High-tech Research Institute LED Research Institute (GGII), the LED lighting market continued to increase slightly, reaching 66.7%; LED display benefited from the explosive growth of LED small-pitch display, and the output value increased to 9.4. %.
According to the express reports of 8 companies including Qinshang, Jinlaite, Zhouming Technology and Lianjian Optoelectronics, there are joys and worries. The good news is that Qinshang’s shares turned losses into profits, net profit increased by 121.46% year-on-year, and Zhouming’s net profit increased by 77.96% year-on-year, a large increase. Worryingly, the Meida Digital and Lehman shares, Ai Biesen's net profit have experienced varying degrees of decline.
other
It is undeniable that Moso Power has played a “turning over†in 2017. Through the continuous release of production capacity, market expansion and product structure adjustment, the net profit attributable to shareholders of listed companies was 13.713 million yuan, a year-on-year increase of 866.94%, becoming a power supplier. A big surprise.
Overclocking three, Netac's performance in the past year is somewhat unsatisfactory. In particular, overclocking three, its net profit fell by 29.6% year-on-year, and the rate of decline was relatively fast.
It is worth mentioning that as a equipment company, distant information and Tianlong Optoelectronics are fruitful in 2017. In 2017, Zhejiang Weier Technology Co., Ltd. and Hangzhou Huijing Technology Co., Ltd., a distant information subsidiary, made great contributions, and the foreign investment income of remote information also increased rapidly.
Let's talk about Tianlong Optoelectronics. I believe that the big stone that has been hanging in my heart should be able to land. Previously, Tianlong Optoelectronics announced that due to the company's losses for the two consecutive years in 2015 and 2016, according to the regulations, if the company's 2017 annual audit report is finally determined to be a loss, the company's stock may be suspended. In 2017, net profit increased by 225.48% year-on-year. It can be said that Tianlong Optoelectronics successfully escaped the delisting crisis.
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