Chow Ming technology, Mao Shuo power released semi annual report

Yesterday (23) evening and early today, Chow Ming technology and Mau Shuo power also issued 2018 semi annual reports. Among them, the former achieves double growth in revenue and net profit while the latter is on the contrary.

Chow Ming technology achieved a total revenue of 2 billion 35 million yuan in the first half of the year, an increase of 66.80% over the same period last year, a net profit of 208 million yuan, an increase of 53.09% over the same period last year, and a net profit attributable to the owners of the parent company was 201 million yuan, an increase of 47.53% over the same period last year. Among them, revenue growth is mainly due to the increase in domestic display revenue and lighting sales revenue this period.

Chow Ming technology main LED display and LED lighting (including LED landscape lighting, professional lighting) the two major businesses. In the first half of the year, the LED display revenue was 1 billion 629 million yuan, an increase of 43.41% over the same period, and a gross profit margin of 27.24%. LED professional lighting achieved 138 million yuan, an increase of 69.38% over the same period, and a gross profit margin of 35.97%. LED landscape lighting achieved 247 million yuan in revenue and 47.60% in gross profit margin.

Revenue composition (source: Zhou Ming Technology semi annual report)

Chow Ming said that in 2018, the demand for LED downstream applications was strong, and the market scale continued to grow rapidly. During the reporting period, the company's display and lighting business coordinated development to boost the company's performance steadily. In the LED display panel, the company accurately grasps the needs of customers, constantly promotes product upgrading and channel upgrading, provides comprehensive system solutions for customers in various sub sectors. In the LED lighting sector, the company actively participates in the landscape lighting projects of many important domestic cities, and persists in planning to grasp the market and take the design to get the job. The development strategy of achieving profits through engineering and achieving profitability through operation.

Maoming Power in the first half of the year achieved total revenue of 627 million yuan, down 22.81% compared to the same period last year. Net profit attributable to shareholders of listed companies was 2 million 350 thousand yuan, down 54.74% compared to the same period last year, mainly due to the reduction of FPC business compared with the same period last year.

According to the products, the revenue components include SPS switching power supply, LED drive power supply, photovoltaic inverter, photovoltaic power generation, circuit board and others. In the first half of this year, LED drive power achieved revenue of 190 million yuan, an increase of 3.89% over the previous year, accounting for 30.25% of total revenue and 25.65% gross profit margin.

Revenue component (source: Mao Shuo power semi annual) unit: Yuan

Mao Shuo power said that consumer electronics power and LED drive power are the traditional main industries of the company. After years of vigorous development, the company has become a leading power supplier and a landmark enterprise in the domestic power supply industry. But after several years of rapid growth, consumer electronics and LED industry have entered a mature stage. With the development of industry, competition will become increasingly fierce.

In order to better promote the strategic transformation and upgrading of the company, the company will further optimize the asset structure and resource allocation, and gradually divest the assets of photovoltaic power station and Fang Zhengda share and other weak assets with strategic relevance, so as to improve the efficiency of asset operation and focus on transformation and upgrading.

Regarding the transformation and upgrading, Maoming Power also issued another announcement on the same day that the company's two level subsidiary, Shenzhen maishao new energy Co., Ltd. (hereinafter referred to as "Mao Shuo new energy") has recently signed the "new energy" of Taizhou, South China, with the Amperex Technology Limited (hereinafter referred to as "Tian Zhong Zhong"). The agreement on equity transfer of the limited company is to transfer the 100% equity interest of Taizhou new energy Co., Ltd. (hereinafter referred to as "Taizhou nalui") to "Tian Nai", and the total transaction price of the transaction is 27900000 yuan. After the completion of the transaction, Maoming new energy no longer owns Taizhou NR shares.

Maoming Power said that after the completion of the equity transfer, Taizhou nirui will no longer be included in the company's consolidated statements. It is estimated that the transaction will generate about 4 million yuan in the transfer loss (the final data is based on the audit results of the accounting firm). The measures are conducive to the company to revitalize the capital, increase the company's working capital, maximize the overall interests of the company, have no significant impact on the normal production and operation of the company, and help to promote the transformation and upgrading of the company's development strategy and meet the fundamental interests of all shareholders.

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