44 LED enterprises in the first three quarters of 2018 performance, who wins?

With the gradual deepening of autumn, the three quarterly disclosure of A share listed companies has basically come to an end. According to LEDinside incomplete statistics, as of October 31st, a total of 44 LED related enterprises disclosed the third quarter 2018 report. There is no suspense about the leading and middle and lower reaches leading enterprises such as San an, Mu Lin Sen and OPPLE lighting. They are still fruitful, especially in the wood, and revenue grew by 100% over the same period last year.

Looking at the three quarterly report, about 91% of the business profits, of which about 55% net profit to achieve positive growth, about 48% of the business revenue net profit double growth. In addition, since this year, the phenomenon of "ice and fire double days" is often seen. Through the list of achievements, it can be found that the net profit growth has doubled to three enterprises, the highest is 218.67%, while the net profit has fallen by more than 100%, with four and the largest decrease of 587.81%.

In terms of the upstream chip area of LED, San an photoelectric continues to maintain the top spot in the upstream performance list, achieving 6 billion 393 million 320 thousand and 300 yuan in revenue and net profit as high as 2 billion 593 million 610 thousand and 700 yuan, both of which have increased slightly.

It is worth noting that the three quarter profits of de Hao Ran amounted to 13 million 700 thousand yuan, but grew by 114.04% over the previous year. Dehao run said that the net profit growth was mainly due to the decrease in asset impairment losses during the reporting period and the increase in operating costs due to a decrease in interest expense and exchange gains and losses over the same period last year. Moreover, the company also expects that the 2018 performance will turn out to be a gain compared with 2017.

However, the performance of poly can be compared with other chip companies. The revenue in the first three quarters was 378 million 827 thousand and 500 yuan, but net profit loss was 82 million 749 thousand and 200 yuan, down 189.17% compared with the same period last year. Moreover, poly can also predict net profit losses in 2018. The financial report shows that one of the reasons is that industry development and market competition are intensifying. The price adjustment of this period resulted in a decline in gross margin and a significant decrease in gross margin.

The overall performance of the middle reaches of the packaging industry has been better. Among them, with the acquisition of LEDVANCE to expand production and expand the market, the revenue increased by 12 billion 350 million 132 thousand and 400 yuan, an increase of 110.79% over the same period last year, and net profit of 601 million 109 thousand and 300 yuan, up 36.68% over the same period last year.

Other manufacturers including Wan run technology, Hongli Zhihui, Guoxing photoelectric, poly fly photoelectric and Ruifeng photoelectric all handed in good performance results with net profit exceeding 100 million yuan. While the long group is inferior, the phenomenon of double profit of net profit has declined. In this regard, one of the reasons listed in the report is that the existing product structure of the company reduces and eliminates the existing low-end LED light source packaging products with poor profitability. Although the profit level in the first three quarters of 2018 has been reduced, it will lay the foundation for the company's subsequent product upgrading and sustainable development.

Under the circumstances of trade friction and fierce market competition, the overall performance of the downstream areas is uneven. Among them, OPPLE lighting is once again the best in the lighting industry, and the sales revenue in the first three quarters was 5 billion 587 million 439 thousand and 500 yuan, an increase of 15.83% over the same period last year. The net profit was 570 million 279 thousand and 800 yuan, an increase of 37.11% over the previous year. Sun lighting followed closely to achieve revenue of 4 billion 196 million 666 thousand and 900 yuan, an increase of 13.75% over the same period, and net profit of 288 million 404 thousand and 700 yuan, but a slight decrease of 10.88% over the same period last year.

In addition, LEDinside noted that in the downstream display area, Riad net profit was far ahead, reaching 945 million 298 thousand and 400 yuan, an increase of 49.21% over the same period, according to its earnings report, mainly due to the increase in operating income during the reporting period. At the same time, due to the exchange earnings generated by the US dollar exchange rate during the reporting period, and the acquisition of NP public during the last reporting period, The exchange loss caused by the euro loan has led to an increase in exchange earnings.

In addition, the development trend of small spacing is becoming more and more fierce. Abison's performance has been relatively outstanding this year. As sales orders increased, the company's revenue grew by 51.01%, and net profit increased by 218.67% over the same period last year.

Another thing worth mentioning is that the top three of the list of performance slipped are flying music, snow lette and Kim lette, with a decrease of 587.81%, 281.75% and 196.41% respectively.

Facing the predicament of performance loss and sharp decline, Fei Le acoustics indicated that the main reason is that the PPP business of Shen An Group, a subsidiary company, was stagnated by policy changes and the other projects were undertook, resulting in a sharp decline in construction revenue. On the other hand, according to the company's operating conditions, it is estimated that the accumulated net profit from the beginning of the next year to the end of the next reporting period may be a loss.

The net profit of snowet is negative and nearly three times lower than that of the same period last year. The reason given by the company is that due to the tight working capital, some of the company's business has been affected, and the decrease in operating income is more obvious. At the same time, the company's financing costs continue to rise, financial costs increased considerably. Therefore, 2018 annual performance is expected to continue to lose money.

Kinlet said that a 196.41% decrease in net profit was mainly due to fluctuations in the US dollar exchange rate, the decline in gross margin, the loss of foreign exchange products purchased and the reduction in government subsidies. (text: LEDinside Janice)

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