“Snowlite's new energy business has made substantial progress and will increase the number of consumer-grade UAVs; Hongli Optoelectronics' automotive lighting business has become the company's first-quarter performance highlights; Sunshine Lighting's performance has shown steady growth; Sanan Optoelectronics' performance is brilliant, far surpassing its peers Guoxing Optoelectronics' first-quarter performance has grown steadily, and the small-pitch market continues to be hot; Aoyang Shunchang's traditional main business is sluggish, and it is expected that the ternary lithium battery business will break out; the continent's endogenous transformation space is broad, and the outreach development performance is out..."


According to the 2015 annual report released by Shell, the operating income was 802 million yuan, up 81.42% year-on-year; the net profit attributable to the parent company was 57 million yuan, up 229.08% year-on-year. It is understood that both revenue and performance increased significantly in 2015, mainly from Fushun Optoelectronics, which was wholly acquired last year at a consideration of approximately 500 million yuan. The subsidiary was included in the consolidated financial statements in February. According to the data, Fushun Optoelectronics has a revenue of 392 million yuan and a profit of 64 million yuan, exceeding the performance commitment. According to this forecast, in 2016, Fushun Optoelectronics has a high probability of fulfilling its performance commitment, which will help the company's performance to grow steadily.

DC charging pile products independently developed and produced by Fushun Optoelectronics (product model: FSEV-DCL60/500-A160KW integrated DC charging pile), recently passed the State Grid Electric Power Research Institute Experimental Verification Center, State Grid Corporation Automation Equipment Electromagnetic Compatibility Laboratory Inspection, obtained the relevant inspection report, "Automated Product Electromagnetic Compatibility Inspection Qualification Registration Registration Certificate" and "Power Automation Product Type Inspection Qualification Registration Registration Certificate", all the inspection results are in line with the inspection requirements. The charging pile technology has been verified, which means that the charging pile business has made substantial progress. Judging that the charging pile passes the inspection is the first step of the snow energy new energy strategy. After that, it will continue to improve the overall layout of the new energy vehicle field and enhance the overall core competitiveness. .

The traditional business revenue declined year-on-year. It is reported that Shelley's 2016 quarterly report achieved operating income of 169 million yuan, an increase of 16.59%. The net profit of returning to the mother was 5.22 million yuan, a year-on-year decline of 26.74%. The traditional business of Snow Wright is LED lighting and energy-saving fluorescent lamps, automotive LED lighting and automotive xenon lamps, air purification and water treatment products, ultraviolet light sources and table lamps. In 2015, the traditional business experienced a slight decline, down about 7% year-on-year.

Fixed increase and set up subsidiary company plus drone

In May 2015, Shell Wright added RMB 15 million to support Manta Smart (holding 51%) and cut into the consumer drone market. In January 2016, it plans to issue no more than 35.75 million shares, raising no more than 470 million yuan, of which 270 million will be used for UAV production and sales service system construction projects. In February 2016, the company set up a US company to continue to add consumer-grade drone business.

Founded in 2014, Manta Smart is dedicated to the development, production and sales of consumer-grade UAV systems, aerial survey drone systems and industrial application drone systems. Manta Intelligence first launched the "Suzaku" UAV in Jingdong in August 2015. After the production of the UAV production and sales service system was put into production, the production capacity of the aircraft will be further enhanced. It is expected to be in the domestic UAV market. The influence will be further enhanced.

Smart street lights are the foundation of a smart city, and the prospects are promising.

In addition, this fixed increase will also implement the smart street lamp production and sales service system construction project through Fushun Optoelectronics, with a total investment of 148 million yuan. Through the implementation of the project, Shellett will further focus on the development trend of the lighting industry towards “green lighting” and increase the layout of urban smart lighting business.

Hongli Optoelectronics

Hongli Optoelectronics released the first quarter of 2016 report, achieving operating income of 440 million yuan, an increase of 53.01%; net profit of 65 million yuan, an increase of 138.3%. Excluding the non-recurring gains and losses of approximately 14 million from the equity transfer of Xinquan Optoelectronics, the non-recurring net profit attributable to shareholders of the listed company was approximately RMB51 million, a year-on-year increase of 103%.

Strong demand for automotive lighting, boosting revenue growth

In the first quarter of 2016, revenues increased significantly. In addition to the packaging business (including package brackets), with the increase in production capacity and steady increase in revenue, the Fo Da signal is also one of the first quarter revenue highlights. In the first quarter of 2016, the net profit contributed by Fo Da signal was about 10 million yuan (the net profit of Fo Da signal in the first half of 2015 was only 9.95 million), a substantial increase year-on-year. Fo Da's own brand is currently mainly engaged in the aftermarket of overseas commercial vehicles; it also carries out ODM OEM for LED headlights such as HELLA and BOSCH. The company's advantages in automotive LED experience and technical advantages have become increasingly prominent. In view of the fact that automotive LEDs have replaced the traditional xenon lamps and halogen lamps, the space is still very large, and the company's automotive LED business continues to be optimistic.

Capacity continues to expand, and multiple packaging technologies are widely available

In the field of white light packaging, Hongli Optoelectronics actively expands production to create cost advantages. In 2016, the production base in Jiangxi will be officially put into production, contributing 16,200kk/year TOPLED and 360kk/year power LED production capacity, and the total production capacity will increase by nearly 60%. Hongli Optoelectronics has a variety of packaging technology, in addition to the traditional smd package and lamp package form, the company also has flip-chip, EMC bracket package, COB package and other high-power packaging technology, reserve diversified packaging technology, leading the development of domestic LED packaging technology .

The car networking business is actively promoted, and the twin main business is emerging.

Hongli Optoelectronics invested 45 million yuan in Diner Technology last year, and plans to invest 30 million yuan this year to participate in the Zhuhai school bus, cutting into the car networking industry. At the end of last year, I established a car networking fund with Jiu Pai Capital, Tiansheng Yunding and Dongfang Yunding, with a scale of 800 million yuan (the first phase of 160 million yuan). It is planned to use professional investors to accelerate the layout of the car networking field and strive to build LED industry + car. The dual main business ecosystem of the networking industry.


Sunshine Lighting disclosed the 2015 annual report. During the reporting period, the company achieved operating income of 4.25 billion yuan, a year-on-year increase of 31.0%; the net profit attributable to shareholders of listed companies was 372 million yuan, a year-on-year increase of 29.0%. At the same time, the company expects net profit of Q1 in 2016 to increase by 0%-30%.

LED business accounted for a rapid increase

In 2015, the company's LED light source and lighting products revenue was 3.114 billion yuan, a year-on-year increase of 91.8%, sales of 204 million (sets), an increase of 185.6%; the company's LED business growth rate significantly exceeded the industry growth rate, showing that the transformation of sunlight lighting is determined And succeeded.

It is estimated that the LED penetration rate in the global general lighting field is between 16-20%, and the LED industry is still in the high-speed growth period in the next three years. The energy-saving lamp business has experienced a large decline.

In 2015, the income from sunlight lighting energy-saving lamps and lamps and lanterns products was 1.093 billion yuan, down 31.61% year-on-year. The sales volume was 134 million pieces (sets), down 33.99% year-on-year. The decline in traditional business slightly exceeded expectations. It is expected that energy-saving lamp products will be difficult to appear in the future. Similar to the long tail effect of incandescent lamps, the business will continue to decline at a certain rate in the next three years. However, from the perspective of income structure, in 2015, the traditional business income of energy-saving lamps accounted for only 26%, so the overall impact on the enterprise will not be great.

Overseas growth is obvious, and the country is still undergoing a transition period

In 2015, Sunlight Lighting achieved rapid growth in its revenues in Europe and North America through the market expansion of LED lighting products, with growth rates of 65.4% and 53.7%, respectively. At the same time, domestic sales revenue fell 8.8% year-on-year, mainly due to channel adjustment and insufficient domestic demand.

The road to brand transformation is long. The transition from OEM and sales market models to independent brands is the established strategy for Sunshine Lighting. Sunshine Lighting has established overseas subsidiaries in Belgium, Germany, the United States, Australia, Hong Kong, etc., and actively promotes the international market to achieve sales of its own brand products, while the domestic market adopts a sales model based on distribution. However, due to the scattered channels of the domestic general lighting market and the difficulty of entering foreign channels, it is expected that the sunshine lighting will remain OEM-oriented in the next few years, and the brand strategy will progress slowly.

Sanan Optoelectronics

It is reported that despite the continuous adjustment of the LED industry, the output growth rate of the chip industry has returned to single digits, but Sanan Optoelectronics' 2015 performance still recorded a 26% growth after deduction, and its performance is brilliant, far surpassing its peers, reflecting its production control capability. And scale effect. It is estimated that Sanan Optoelectronics will achieve a net profit of 2.21 billion yuan and 2.9 billion yuan in 2016-2017.

Last year's performance increased sharply, and gross profit margin increased against the market

In 2015, Sanan Optoelectronics achieved revenue of 4.86 billion yuan, YOY increased by 6.1%; realized net profit of 1.69 billion yuan, YOY increased by 15.9%, EPS of 0.71 yuan, and net profit of the company increased by 26.3%. In the quarterly quarter, the company achieved revenue of 1.26 billion yuan in the fourth quarter, YOY increased by 14.1%, a record high in the same period of the previous year. 4Q15 Sanan Optoelectronics disposed of the equity assets of Jingyuan Optoelectronics was reduced by 240 million yuan, resulting in a decrease in current net profit of 4 It will reach 250 million yuan, and the net profit growth rate after deduction will be about 15%.

From the perspective of gross profit margin, the comprehensive gross profit margin of Sanan Optoelectronics in 2015 was 46.1%, an increase of 1.1 percentage points over the same period of the previous year. Considering that China's LED price dropped sharply in 2015, Sanan Optoelectronics' gross profit margin went against the market and its performance far exceeded. Peer.

In addition, benefiting from the increase in scale effect, the period expense rate was 8.9%, down 5.1 percentage points from the same period of the previous year. LED business growth momentum will come from Xiamen Optoelectronics Phase II project. At present, 53 sets of 4-inch MOCVD equipment are gradually releasing production capacity. It is estimated that after the project is fully put into production, the output value will be 4 billion yuan and the net profit will be 600 million yuan. Business profit will grow at a compound annual growth rate of approximately 11% in the next three years and will be better than peers.

1Q16 performance continues to grow rapidly

1Q16 Sanan Optoelectronics realized revenue of 1.18 billion yuan, YOY increased by 27.2%, and the net profit attributable to listed companies was 460 million yuan, a year-on-year increase of 29.2%. Affected by changes in the sales structure and the decline in gross profit margin of LED chips, the consolidated gross profit margin for the quarter was 39.1%, a decrease of approximately 9.3 percentage points from the same period of the previous year. With the gradual release of production capacity, the gross profit margin is expected to gradually recover.

The LED industry competition pattern will tend to be stable for a long time

In 2015, China's LED chip industry market size is expected to reach 13 billion yuan, an increase of 8.3%, LED chip production growth of 60%, the response to supply and demand are growing rapidly, more than 10 chip companies have been discontinued or withdrawn. Looking into the future, the supply of LED chip industry is shrinking obviously, the competition pattern is stabilizing, and the leading position of Sanan Optoelectronics LED chip is more stable.

Actively deploying compound semi-conductor business

Gallium arsenide and gallium nitride devices are 5G, and the downstream demand space is huge. The corresponding market space exceeds 10 billion US dollars, and China relies heavily on imports. Sanan Optoelectronics obtained a large fund (shared 9.1%) and CDB, and recently acquired Huanyu Communication Semiconductor for US$230 million. The capital technology capability has been further strengthened. The planned production capacity of compound semiconductors is 30,000 pieces/month. At present, the production capacity has reached 4,000 pieces/month. The equipment preparation production has been completed. Some of the sampled products have been certified and will be expected to form a new growth momentum in the future.

Guoxing Optoelectronics

In the first quarter of 2016, Guoxing Optoelectronics achieved operating income of 459 million yuan, a year-on-year increase of 18.2%; net profit of 37 million yuan, an increase of 8.4%. It is estimated that the net profit for the first half of 2016 will be 0.84-1.09 billion, a year-on-year increase of 0%-30%.

Price reduction is still the theme of the LED packaging market, and leading companies may benefit from increased market concentration. Data show that in the past six months (2015Q3-2016Q1) LED mainstream white light chip prices have fallen by more than 20%; and LED device import and export prices have also dropped by 29% in the past year. According to this, although the decline in product prices affects the company's revenue in the industry to a certain extent, it is good for domestic packaging leading enterprises to continue to expand their scale and divide the market.

On the one hand, foreign leading companies such as Osram, Philips and other shrinking LED business, foreign substitution space is broad; on the other hand, domestic SMEs continue to withdraw from the market, market concentration has increased. As the second largest packaging company in China, Guoxing Optoelectronics will continue to expand production this year. At present, the company's packaging capacity has reached 4000 kk / m, a significant increase of more than 40% from the end of last year, helping the company's performance to increase steadily.

Small-pitch LED market breaks out and enjoys downstream market growth dividend

The downstream market demand for small-pitch LEDs is hot. According to the data of the small-pitch LEDs, the small-distance orders in the first quarter have increased by more than 150%. In addition, the spacing between small-diameter display screens has gradually narrowed, and the demand for small-diameter displays has been packaged. Multiplied (the number of lamps required for P1.0 is four times that of P2.0). Combined with the above, it is expected that the demand for small-pitch LED lamp beads in 16-18 years will maintain a compound growth rate of 70%. RGB Device Division is the company's traditional advantage business. As the world's second largest LED small-pitch packaging manufacturer, Guoxing Optoelectronics is second only to Taiwan Everlight.

In view of the fact that Guoxing Optoelectronics has been able to mass-produce 0808 small-pitch packaged devices, it is the only energy-generating 0808 packaged device enterprise in China. It has obvious technical advantages and the industrial chain is at home. It has a cost advantage and is expected to enjoy the downstream market growth dividend in the future.

The high-quality state-owned enterprise of Guangsheng, the Foshan lighting platform was initially formed

After Guangsheng Company, a subsidiary of the Guangdong State-owned Assets Supervision and Administration Commission, became the actual controller of Guoxing Optoelectronics, in 2015, Guangzhao re-entered Foshan Lighting and became the major shareholder of Foshan Lighting. In the short-term, Guoxing Optoelectronics and Foshan Lighting are expected to develop synergistically, and the performance will continue to grow steadily. In the medium and long term, the Hirose platform integrates the upstream, middle and downstream industrial resources, and exerts synergies between enterprises in the region to open up the entire industry chain. , to create a large LED platform.

Aoyang Shunchang

Aoyang Shunchang's profit for the first quarter was 389.125 million yuan, optimistic about the direction of the transformation of ternary lithium battery. Affected by the price of metal substrates and the decline in the price of LED chips, Aoyang Shunchang achieved revenue of 295 million yuan (-18.81%) in the first quarter and net profit of 389.125 million yuan (-24.63%), which is expected to be net profit of the first half of the year. 8588.05~12551.77 million yuan (-35.00%~-5.00%, the acquisition failure compensation of 40 million yuan non-recurring gains and losses in the same period last year). Aoyang Shunchang cut into the ternary lithium battery business through the outsourcing of Tianpeng Power, which is expected to benefit from the industry boom and promote the performance.

   Acquired Jiangsu Luwei Lithium Energy and cut into the field of ternary lithium battery

Aoyang Shunchang acquired and increased its capital in Jiangsu Luwei in cash, and ultimately held a 47.06% stake. The main operating assets of Luwei Lithium Energy is Tianpeng Power Supply, which promises to accumulate non-net profit of not less than 360 million yuan in the next three years. Tianpeng Power has been cultivating ternary batteries for nearly ten years. In the past two years, it has begun to focus on the use of ternary lithium batteries for new energy vehicles. The ternary battery is expected to be in short supply, and the expansion of Tianpeng Power's three-yuan capacity will be the first to benefit.

This year, domestic passenger cars and logistics vehicles are expected to explode, which will stimulate the demand for ternary batteries to double, while the domestic first-tier enterprises' ternary capacity expansion is relatively lagging behind. The ternary battery industry is expected to be in short supply this year. Tianpeng Power has an old plant with 0.5GWh ternary capacity. It is expected to reach 1GWh in the third quarter of this year. The new plant's 3GWh capacity is expected to reach full production by the end of next year. With the ternary capacity climbing and electric vehicle market development, it is expected that Tianpeng Power's performance in the next two years will reach 70 million yuan and 250 million yuan.

Mid- and long-term optimistic about the progress of LED chip phase II and IGBT project industrialization

It is expected that the performance contribution of the logistics supply chain and LED chips of the traditional main business of Aoyang Shunchang will be stable at around RMB 250 million in 2016. The medium and long-term incremental factors mainly depend on the LED chip Phase II and IGBT projects currently being promoted. It will become a medium- and long-term source of growth for the company's traditional main business.

Chau Ming Technology

Despite the fierce competition in the external market, the performance of Chau Ming Technology continued to grow at a high speed. The LED display industry market is fragmented, and with the increase of technical barriers, the industry naturally enters the stage of mutual merger of the company. In 2015, Chau Ming Technology relied on product upgrading, small-pitch entering the business upswing period and acquiring Redio to expand the overseas display market, achieving a profit growth of 86.61%, and making the profit growth rate significantly ahead of the revenue growth rate, indicating that the company has developed New high-profit business direction. In the early stage, Zhouming Technology's overseas brand promotion and layout effect began to show, and overseas revenue increased by 53.88% year-on-year. The outstanding development results were outstanding.

Rapid growth in small-pitch products, helping the company develop

The LED small-pitch products developed by Chau Ming Technology are in the forefront of display technology replacement. The product cost performance, technology and first-mover advantage ensure its 70% revenue growth rate in the past three years. With the expansion of the domestic small-pitch market and the gradual expansion of display applications into the civilian sector, products for the high-end exhibition will be more popular, and its product revenue in 2015 will increase by 122.61%. Chau Ming Technology focuses on segmentation, seeks differentiated lead and introduces products with high added value, of which 2mm small pitch products are the strongest driver of its performance growth. The company's active overseas presence will help open up overseas small-pitch markets.

Acquired Ledio, to create a stage display rental faucet

After the performance of the company's performance in 2015, its profit accounted for 45.90%. Redio is deeply immersed in the high-end LED display leasing field in Europe and America. It provides LED display rental screen services for large-scale venues such as stage and exhibitions. Its customized creative screens account for a high proportion and guarantee a high profit margin. The competitive advantage of Redio will continue to be maintained in the next few years, and the performance of the overseas creative screens of Chau Ming Technology will continue to grow. In addition, Chau Ming Technology will also try to open up the domestic creative screen rental market, promote unified layout and common growth at home and abroad.

Layout smart city, open O2O mode

Zhouming's public intelligent lighting control system (Unilumin1.1), which is developed by Zhouming Technology, provides security monitoring, intelligent positioning, public information video broadcasting, Wi-Fi micro base stations, etc. for smart city secondary platforms based on road lighting services. Smart people's livelihood services. At present, the system has the mass production capability, which provides a solid foundation for the transformation into a city lighting system solution service provider, and will likely become a future growth point. In the field of indoor lighting, Chau Ming Technology has extended its sales channels to online by investing in Internet companies such as Hanyuan Lighting, Nandian Yunshang, and Arthur Networks, and the B2B first platform for lighting and lighting industry has been built for many years. The "Internet +" strategy implemented by Chau Ming Technology and the development of "Lighting O2O" will help to enhance the company's storage capacity and promote diversification of sales channels.

Surge Protector

Universal Socket 20A Surge Protector,Led Display 6600W-30A Surge Protector,Led Display 6600W Surge Protector,Led Display 30A Surge Protector

Yuyao Huijun Electrical Appliance Co., Ltd. , https://www.yyhjdq.com

Posted on