Aoyang Shunchang's third-quarter results showed “double down” to raise the epitaxial chip

[Text / Gaogong LED Zhao Hui] After spending the first half of the year, both the net profit and the increase in the net profit, Aoyang Shunchang seems to have been dragged down by the increasingly weak market demand and fierce competition in the third quarter. In the third quarter, its revenue and net profit also showed an unfavorable situation of both falling.

On the evening of October 30, LED epitaxial chip company Aoyang Shunchang (002245.SZ) disclosed the third quarter 2015 report. The report shows that Aoyang Shunchang achieved operating income of 369 million yuan in the third quarter, down 10.87% year-on-year. The net profit attributable to shareholders of listed companies was 48.5543 million yuan, down 5.25% year-on-year.

In the first half of 2015, the revenue and net profit of Aoyang Shunchang both increased by 9.73% and 71.17%.

According to the financial report data, from January to September 2015, Aoyang Shunchang's operating income was 1.118 billion yuan, a year-on-year increase of only 2.61%; the net profit attributable to shareholders of listed companies was 181 million yuan, a year-on-year increase of 50.91%.

"The LED business is currently in good production and operation, the production line is in full production, and the product sales are good." Aoyang Shunchang Dong secret Lin Wenhua said that at present, some of the extension equipment of Aoyang Shunchang has been converted into four-piece production. At the same time, the company has continued to increase investment in LED technology research and development. The flip chip technology has gradually matured and partially put into mass production, and the overall technical strength has been continuously improved.

Previously, the relevant resolution of the third extraordinary shareholders meeting of Aoyang Shunchang in 2014 stated that the company plans to publicly issue convertible bonds. The total amount of funds raised is not more than 510 million yuan, and all of them will be invested in the company's LED epitaxial wafer and chip industrialization project (Phase II). ). On May 5, 2015, Aoyang Shunchang received the approval document from the CSRC on the public issuance of convertible corporate bonds.

On August 21, 2015, Aoyang Shunchang's 2015 First Extraordinary General Meeting of Shareholders reviewed and approved the Proposal on Extending the Validity Period of the Shareholders' Meeting of Convertible Corporate Bonds. In view of the actual situation of the capital market, as of now, the Australian Ocean Shunchang convertible corporate bonds have not yet been issued.

Lin Wenhua also said that if the convertible bonds cannot be issued on time, it will have a certain impact on the company's LED epitaxial wafer and chip industrialization project (Phase II).

When talking about the progress of the second phase of LED construction, Lin Wenhua said, “At present, the second phase of LED is completed, and the PSS (imaged substrate) part of the second phase has been completed, which can provide partial sapphire lining for the existing LED first phase project. bottom."

In 2015, Aoyang Shunchang also proposed the “Internet Plus” strategy, but in the first half of the year, it suspended its plans to acquire new energy vehicles and the Internet, but it did not succeed. Aoyang Shunchang said that the company released a strategic development plan last year. The company has been actively exploring ways to enter emerging and high-growth industries in various ways, with a view to rapidly cultivating new profit growth points.

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