IPO sprint soon OPPLE lighting OEM control efforts need to increase

According to Time issued the "2014 Chinese lighting LED lighting industry top 100" display, OPPLE lighting Limited by Share Ltd is sprint IPO (hereinafter referred to as the "OPPLE lighting") to 3 billion 900 million yuan of annual sales in the lighting application enterprises ranked first.

OPPLE lighting predecessor can be traced back to August 1996, Wang Yaohai, two, the couple set up a couple of only a small workshop of 8 employees in the United States. 19 years later, the original small workshop has developed more than 6000 staff, with Shanghai and Zhongshan Industrial Park, Wujiang Industrial Park and other production base of industry leaders in many fields; products include LED and traditional light source, lamps, electrical appliances, ceiling products, and in 2008 the company headquarters to Shanghai. 2012-2014, OPPLE lighting revenues were 3 billion 138 million yuan, $3 billion 390 million and $3 billion 843 million.

At present, the lighting industry is in the stage of rapid industrial upgrading, industry reshuffle is also accelerating. In the short term, the LED lighting market is still in a state of disorder and confusion. In the industry, a large number of OEM mode, over the past few years, OPPLE lighting has also been frequently due to quality problems exposed by the media.

OPPLE lighting will comply with the LED intelligence and the trend of the Internet, go its own way, Lianhaoneigong, the ability to continue to strengthen its own R & D, manufacturing, supply chain, provide excellent lighting solutions to consumers and professional users, more comprehensive services to our customers, to upgrade their LED and intelligent lighting trends brand advantage. OPPLE lighting secretaries do in a written reply weekly Times reporter said so.

Net profit decline

Wang Yaohai, Ma Xiuhui is currently the total direct holdings of OPPLE lighting 40.97%, two people also hold OPPLE lighting 51.37% through the joint holding of Zhongshan OPPLE shares. In addition, Ma Xiuhui also indirectly holds 0.0035% stake in OPPLE lighting. After the listing, Wang Yaohai and Mr. and Mrs. Ma Xiuhui is still an absolute holding position.

Over the past three years, OPPLE lighting revenue increased from $3 billion 843 million to $3 billion 138 million, net profit attributable to owners of the parent company did not rise or fall from $293 million to $427 million.

"Mainly from the growth in operating expenses, management fees and the decrease in operating income. OPPLE lighting explained in the prospectus.

In the lighting industry to upgrade the context of transition, in 2014, OPPLE lighting expansion management team, strengthen product R & D investment in management; expand the sales team in terms of sales, to promote the domestic marketing channel sink to the three or four line of the city and the countryside, improve the online and offline service consumer service ability. These have led to the increase in the cost of operating expenses, management fees OPPLE lighting, affecting the level of profits.

At the same time, OPPLE lighting to increase foreign investment in Europe, Brazil, India, South Africa and other places to open a subsidiary. However, in the OPPLE lighting overseas subsidiaries, in addition to OPPLE Dubai, OPPLE Brazil, OPPLE, OPPLE and OPPLE in South Africa Holland India are at a loss, OPPLE Holland two companies most serious losses, losses of more than 28 million 390 thousand yuan.

Analysis of LED industry analyst Sun Zhihong said the weekly Times reporter: "OPPLE lighting overseas subsidiaries has not yet profitable, which dragged down the overall performance of OPPLE lighting in a certain extent. "

It is worth noting that, 2012-2014, OPPLE lighting home lighting business sales accounted for 37.66%, respectively, 43.52% and 38.72%, one of the main source of income for the company. The demand for home lighting products, on the one hand from the housing renovation market, on the other hand from the replacement of the existing housing lighting upgrade, the former affected by the real estate market boom.

In this regard, OPPLE lighting times weekly to reporters, product channels, OPPLE will conform to the trend of technology development and leading LED lighting and intelligent lighting, and constantly develop to meet and exceed user demand for cost-effective, high-tech products, "business simultaneously, synchronous extension and strengthening Home Furnishing and customers.

OEM mode needs

OPPLE lighting as a professional green energy-saving lighting companies, from the raise investment projects can be seen, LED is still the focus of its future development.

Prospectus shows that in recent years, OPPLE lighting LED lighting products showing rapid growth trend. 2012-2014, OPPLE lighting LED lighting product sales revenue was 53 million yuan, respectively, $720 million and $2 billion 159 million, sales accounted for 1.71%, respectively, and 56.17%. In this raised investment projects, OPPLE lighting will be about 567 million yuan for the construction of green lighting production projects.

According to the prospectus, the project intends to Wujiang FENHU Economic Development Zone covers an area of about 53.1 acres, the construction of the LED production line, mold center, engineering factory, and the purchase of advanced production line equipment, testing equipment and facilities etc.. After the project, the LED workshop will achieve an annual output of 22 million 740 thousand kinds of LED lighting products production capacity.

Although it is lighting applications in the enterprise leader, OPPLE lighting a large number of products are still using OEM mode of production.

In 2014, OPPLE lighting Home Furnishing lamps, light source, lighting control, lighting and other OEM product sales were 669 million yuan, 230 million yuan, 421 million yuan, 305 million yuan, accounted for 45.25%, 23.42%, 62.13%, 60.82%. Among them, the lighting control and other, according to the lighting lamp OEM products accounted for the highest proportion of sales revenue.

Lighting control and other products are mainly for electrical products and integrated ceiling, etc., and commercial products, including the basis of functional products (such as tube spotlights)