Text / High-Tech LED Industry Research Institute (GLII) Senior Analyst Ye Xiaoli
On June 10, 2011, Guoxing Optoelectronics (002449.SZ) announced that the company plans to set up a lighting branch (hereinafter referred to as “branchâ€) and assign the business and related assets of the lighting division to the branch. Operating.
According to the disclosures of the announcement, the newly established branch business scope includes manufacturing and sales of optoelectronic semiconductor devices, optoelectronic display devices, semiconductor integrated circuits, optoelectronic modules, etc., and development of optoelectronic engineering technology, consulting, services and project investment.
Regarding the company's structural changes, the responsible person of Guoxing Optoelectronics told Gaogong LED reporter that the company was to better deal with the development of the LED lighting market, and then the business and related assets of the lighting division were included in the branch.
Main product gross profit continued to decline
According to the 2010 annual financial report data of Guoxing Optoelectronics, the company completed operating income of 877 million yuan in 2010, an increase of 39.74% over the previous year.
However, behind such a reluctant annual report, there is a hidden risk of sacrificing the gross profit of the main product. In 2010, TOP LED production, one of the company's main products, increased by 234.42% year-on-year, but its business income increased by 32.09% compared with the previous year. In this regard, the company's explanation is mainly to expand the market share, and actively reduce the price of the product, resulting in a decline in gross profit margin.
In 2011, the homogenization of low-end products in the domestic LED packaging field has become increasingly serious. The resulting “selling†trend in the industry has led to a general decline in the prices of domestic low-end devices. According to GLII statistics, compared with the end of last year, as of May this year, the price of domestic low-end LED devices fell by an average of 30%, and the price of some devices dropped by more than 50%.
As one of the largest packaging equipment companies in China, Guoxing Optoelectronics has not been spared. According to relevant statistics, in the first quarter of 2011, the price reduction of National Star Optoelectronics' packaged device products was about 15%-20%, and the price of component products also showed a slight decline. Obviously, the decline in the gross profit of Guoxing’s products has not improved.
According to the data of the first quarter of 2011, National Star Optoelectronics showed that the gross profit margin of Guoxing Optoelectronics products fell to 23% in the first quarter, down 9.5% year-on-year; net profit was about 26.3 million yuan, down 19.21% year-on-year. According to GLII, the comparison of gross profit margin data of domestic packaging enterprises during the same period (see Table 1)
On June 10, 2011, Guoxing Optoelectronics (002449.SZ) announced that the company plans to set up a lighting branch (hereinafter referred to as “branchâ€) and assign the business and related assets of the lighting division to the branch. Operating.
According to the disclosures of the announcement, the newly established branch business scope includes manufacturing and sales of optoelectronic semiconductor devices, optoelectronic display devices, semiconductor integrated circuits, optoelectronic modules, etc., and development of optoelectronic engineering technology, consulting, services and project investment.
Regarding the company's structural changes, the responsible person of Guoxing Optoelectronics told Gaogong LED reporter that the company was to better deal with the development of the LED lighting market, and then the business and related assets of the lighting division were included in the branch.
Main product gross profit continued to decline
According to the 2010 annual financial report data of Guoxing Optoelectronics, the company completed operating income of 877 million yuan in 2010, an increase of 39.74% over the previous year.
However, behind such a reluctant annual report, there is a hidden risk of sacrificing the gross profit of the main product. In 2010, TOP LED production, one of the company's main products, increased by 234.42% year-on-year, but its business income increased by 32.09% compared with the previous year. In this regard, the company's explanation is mainly to expand the market share, and actively reduce the price of the product, resulting in a decline in gross profit margin.
In 2011, the homogenization of low-end products in the domestic LED packaging field has become increasingly serious. The resulting “selling†trend in the industry has led to a general decline in the prices of domestic low-end devices. According to GLII statistics, compared with the end of last year, as of May this year, the price of domestic low-end LED devices fell by an average of 30%, and the price of some devices dropped by more than 50%.
As one of the largest packaging equipment companies in China, Guoxing Optoelectronics has not been spared. According to relevant statistics, in the first quarter of 2011, the price reduction of National Star Optoelectronics' packaged device products was about 15%-20%, and the price of component products also showed a slight decline. Obviously, the decline in the gross profit of Guoxing’s products has not improved.
According to the data of the first quarter of 2011, National Star Optoelectronics showed that the gross profit margin of Guoxing Optoelectronics products fell to 23% in the first quarter, down 9.5% year-on-year; net profit was about 26.3 million yuan, down 19.21% year-on-year. According to GLII, the comparison of gross profit margin data of domestic packaging enterprises during the same period (see Table 1)
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