2017 is a year of harvest. In the past year, Ganzhao Optoelectronics (300102) has continued to forge ahead and has achieved remarkable results in various core businesses.
According to the "Annual Report 2017", Ganzhao Optoelectronics achieved operating income of 1.13 billion yuan in 2017 and realized net profit attributable to shareholders of listed companies of 211 million yuan, an increase of 335.20%.
Ganzhao Optoelectronics can achieve such excellent results, naturally can not be separated from the unremitting efforts of the past year. In order to deepen the main business and consolidate the status of the industry, Ganzhao Optoelectronics 2017 has done a lot of work, mainly:
In April 2017, Ganzhao Optoelectronics announced that it had acquired a 24.65% stake in Nanchang Kaixun Optoelectronics Co., Ltd., and then played a synergistic advantage to further expand and strengthen the company's position as an industry leader in the field of red and yellow light chips;
In May 2017, Ganzhao Optoelectronics announced that it invested 735,588,100 yuan in the Yangzhou subsidiary to implement the expansion of red and yellow LED chips and triple-junction gallium arsenide solar cells, and re-enforced the moat in the red and yellow light field;
In July 2017, Ganzhao Optoelectronics announced that it will invest 5 billion yuan (in two phases) to build a Nanchang blue-green production base. It is estimated that the first phase investment will be 2.5 billion yuan, and the scale of 600,000 pieces (2 inches) will be realized. Blue and green chip production base;
In July 2017, Ganzhao Optoelectronics Co., Ltd. actively promoted the investment and establishment of relevant industry funds, actively laid out the upstream and downstream of the industry, and shared symbiosis with the same industry partners to create a good ecological environment for dry development. The current industry fund is in the process of being established;
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Of course, while doing the strategy of “endogenous growth and outsourcingâ€, Ganzhao Optoelectronics is still implementing lean production. In 2017, through continuous investment expansion, Ganzhao Optoelectronics has a qualitative improvement in production capacity. At the same time, through the improvement of production efficiency and yield, the company has achieved good results in terms of gross profit margin and cost reduction.
Capacity. According to the relevant person in charge of the board of Ganzhao Optoelectronics, the annual chip production capacity of Ganzhao Optoelectronics in 2017 is about 6.2 million pieces (two-inch pieces), the output is 5.5 million pieces, and the capacity utilization rate is not less than 88%. In addition, the capacity under construction is 7.92 million pieces, mainly the expansion of the 2017 blue-green project.
In the field of blue-green LED epitaxial wafers and chips, dry photo has now grown into an important supplier of blue-green LED chips in the industry, with MOCVD a total of 55 cavities (K465I models), with an annual production capacity of 4.2 million pieces. The utilization rate is 93.48%, and the current capacity under construction is 7.2 million pieces/year;
In the field of red and yellow LED epitaxial wafers and chips, one of the largest domestic production companies of dry photo-electricity is MOCVD. There are 26 chambers with MOCVD, the annual production capacity is 2 million pieces, the capacity utilization rate is 78.68%, and the current capacity is 72. 10,000 pieces / year.
Gross margin. In 2017, the production efficiency of Ganzhao Optoelectronics continued to increase, the utilization rate of equipment capacity was greatly improved, and the product yield was improved. This is also an important reason for the increase in gross profit margin of the company's LED chip's main business income.
Among them, the sales volume of blue-green chips and epitaxial wafers reached 3,522,686.91 in 2017, the sales income was 607,857,700 yuan, and the gross profit margin was 33.77%, which was greatly improved compared with 13.35% in 2016; red and yellow chips The sales volume of the epitaxial wafers reached 1,410,190.65, the sales revenue was 448.172 million yuan, and the gross profit margin was 42.27%, which was a small increase compared with 34.12% in 2016.
Operating costs. Ganzhao Optoelectronics continues to promote lean production, improve internal management, adhere to the development of the main strategy, and reduce unnecessary investment. In 2017, the operating cost of Ganzhao Optoelectronics was 708 million, a significant decrease from the 845 million in 2016.
R&D investment. In 2017, Ganzhao Optoelectronics invested 72.645 million yuan, accounting for 6.43% of operating income. At present, Ganzhao Optoelectronics has made remarkable progress in new product development and performance improvement of existing products.
Among them, the performance of the red LED chip is further improved. The performance of low-power reverse-polarity red LED chips has been greatly improved. The new products of medium- and high-power reverse-polarity red LED chips have been successfully developed and have been mass-produced. The 850nm and 940nm NIR LED chips have been certified by customers and are available in volume.
Ganzhao Optoelectronics has successfully developed the Merak series of white LED chip products and brought them to the market. The product was also awarded the “2017 High-tech LED Golden Globe Award for Innovation of the Yearâ€. The first generation of flip-chip white LED chips has been mass-produced, the second-generation products have been produced in small batches, and the third-generation products have been developed and delivered to customers.
At the same time, for the new application of LED display, Ganzhao Optoelectronics has established the “Future Display Research Institute†and cooperated with downstream partners to develop Mini-LED and Micro-new products. The red, green and blue primary color chips for the display have also been used in batches on the client side.
Up to now, Ganzhao Optoelectronics has become one of the largest manufacturers of high-brightness quaternary red-yellow LED chips in China, and has gained a large market share in household appliances, indoor and outdoor displays and other fields. In the field of blue-green LED epitaxial wafers and chips, although the company started to intervene in 2015, it started late, but after more than two years of production and operation, it has become one of the important suppliers of domestic blue-green optical chips. .
According to the relevant person in charge of the board of the company, it is expected that with the adjustment of the epitaxial chip industry in China, the number of epitaxial chip companies will decrease, and the scale of major enterprises will increase significantly, and the industrial concentration will be further enhanced.
In this large-scale environment where the industry is booming and the oligarchs are forming, Ganzhao Optoelectronics has determined the unique development strategy of “scale follow-up + technical characteristicsâ€. Among them, the blue-green light chip will implement scale follow-up, and the expansion will enlarge the scale; while the red and yellow light chips will be positioned to make technical features and achieve quality improvement. On the basis of the scale increase, Ganzhao Optoelectronics will pay attention to and continue to lay out LED related fields with high technical thresholds and rich future application scenarios.
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