24 LED enterprises medium-term performance big PK, who is the "profit king"?

Recently, the semi-annual financial reports of the LED industry have been announced one after another. In order to have an overall understanding of the market development status and corporate revenue of LED in the first half of the year, the LEDinside has counted the revenue, net profit and gross profit rate of 24 LED listed companies for readers' reference.

Recently, the semi-annual financial reports of the LED industry have been announced one after another. In order to have an overall understanding of the market development status and corporate revenue of LED in the first half of the year, the LEDinside has counted the revenue, net profit and gross profit rate of 24 LED listed companies for readers' reference.
Revenue overall floating red, 80% net profit preference
According to the financial data of 24 LED enterprises reported by LEDinside statistics, in the first half of 2016, more than 80% of the enterprises achieved growth in net revenue, while more than half of the enterprises in the LED industry showed a decline in gross profit margin.
A closer look found that only 4 of the 24 LED companies had a half-year revenue decline, of which Rexroth Lighting fell 0.54 percent, Dehao Runda fell 16.89 percent, Aoyang Shunchang fell 6.69 percent and Ocean King fell 3.01 percent.
However, it is worth mentioning that the net profit growth rate of Rex and Ocean King is as high as 381.11 and 110.12. From the overall point of view, the LED industry relative to the previous increase in income does not increase profits, the growth of net profit shows that the growth of enterprises and the growth of the industry is getting better.
The increase in revenue of LED enterprises, in addition to the recovery of LED itself, is also related to the business extension of enterprises.
Judging from the industrial chain, LED chip enterprises in the first half of the year extended their business scope and began to increase the layout of semiconductor integrated circuit business. Among them, San 'an, Huacan and Aoyang Shunchang performed the most eye-catching. Packaging enterprises, subject to the aftershocks of price war, were forced to extend the high gross profit market, of which the UV and automotive markets were the most eye-catching, with Hongli and Guoxing showing the most obvious performance.
And lighting companies have begun to gradually layout smart home and O2O field. Among them, Opal hand-in-hand Huawei is the most concerned about the power of intelligent lighting and Rex vigorously develop O2O performance is the most eye-catching.
In terms of LED display screen, Liad performed well in the first half of 2016, with its layout AR/VR and the purchase of many enterprises. The market value increased from the lowest 11.8 billion yuan in early 2016 to the highest 26.4 billion yuan. In addition, there are Alto Electronics and Lehman shares in transformational sports.
Gross margin generally maintained at 30%, but the overall decline
Judging from the gross profit margin and its growth of 22 LED enterprises except Leishi and Opal, the overall gross profit margin of LED enterprises in the first half of the year was concentrated in the range of 20%-30%, and some special lighting enterprises like Ocean King were obviously on the high side. And from the overall gross profit margin growth, more than 50% of the enterprise gross profit margin is showing a downward trend, and for the growth of enterprises, in fact, most of the growth rate is smaller.

 

 

In the first half of 2016, in the face of declining gross profit margin, LED enterprises have expanded and moved to new high gross profit markets. In the first half of this year, special attention was paid to high gross profit fields such as plant lighting, vehicle lighting, UV/IR and intelligent lighting.
In order to ensure profits, in addition to expanding the market with higher gross margins. Chip enterprises began to raise prices, represented by leading enterprises such as crystal yuan and San 'an. However, lighting packaging enterprises have adopted the expansion of production capacity, introduced and implemented automation transformation in various products and various process links, and carried out appropriate promotion and replication of mature automation schemes to strengthen cost control and improve the overall gross profit margin of the company.
In short, in the first half of 2016, the industry as a whole showed signs of recovery, but the industry reshuffle did not stop, on the contrary, it became more intense, and the polarization of enterprises became more obvious. (Text/LEDinsideSkavy)
Attached: 24 LED listed companies revenue net profit list

 

 

Note: 1. The chart only includes the interim results of some LED listed companies; 2. The net profit mentioned in the picture and text is "net profit attributable to shareholders of listed companies"; 3. The revenue of Shilanwei and Aoyang Shunchang in the picture and text is only its LED business revenue, not all business revenue.