Decline in the performance of lighting products significantly rectangular lighting interim net profit increased by only 1.61%

Rectangular lighting 25 evening semi annual report released in 2014, the company in the first half of this year (1-6 months) operating income of $456 million, an increase of 25.45%, net profit of $32 million 571 thousand and 900, an increase of 1.61%.

The in-line LED revenues of 27 million 565 thousand and 600 yuan, down 50.47%; patch type LED (including high power) revenues of 372 million yuan, an increase of 89.36%; the application of product revenue of 35 million 146 thousand and 600 yuan, down 63.11%; packaging products revenue was 11 million 938 thousand and 200 yuan, an increase of 100%.

The performance of "cut down the middle of lighting products"

Seemingly behind the growth of both revenue and net profit, hidden in the fact that the application of rectangular lighting products in the first half revenues of 35 million 146 thousand and 600 yuan, down by 63.11%.

In contrast, in the first half of 2013, the application of rectangular lighting product revenue of 95 million 282 thousand and 900 yuan, an increase of 29.05% in 2013, the application of rectangular lighting products revenue of $159 million, an increase of 26.08%.

Not only is the revenue decline, the application of rectangular lighting in the first half of this year accounted for only 7.86% of the product, and this figure in the same period last year, is 27.42%.

This is far from worrying, rectangular lighting products operating income of 35 million 146 thousand and 600 yuan, operating costs of $34 million 561 thousand and 900, gross profit margin was only 1.66%, down by 27.39%.

It can be said, rectangular lighting products in the application of money to make money, in the first half of this year is not a white flower of silver.

The lighting products performance suffered cut down the middle, the rectangular lighting is not a small thing, after all, whether it is from the multi brand strategy to the development of a unified "rectangular" LED lighting brand, and increase efforts to expand the channels, rectangular lighting to occupy the absolute advantage in the application of lighting products.

So, rectangular lighting go path of mergers and acquisitions, plans to use the way of cash and shares to acquire 60% stake in Kang Ming sheng. Kang Mingsheng specializes in the development, production and sales of LED mobile lighting applications, is a rectangular lighting LED light source device business downstream enterprises.

Supporting industry performance previews

Rectangular lighting main business or packaging, including patch LED, inline LED, including product revenue accounted for 89.46% of total revenue.

Among them, the patch LED (including high-power) revenue of 372 million yuan, an increase of 89.36%, gross margin of 26.49%, an increase of 2.88%.

The straight line LED revenue of 27 million 565 thousand and 600 yuan, down by 50.47%, gross margin was -7.76%, down by 18.80%. From the gross profit point of view, in particular, lighting products have no direct line LED, give up the straight line product LED should be the trend.

It is noteworthy to be overstating the rectangular lighting package products become the company's new profit growth point ", rectangular lighting, packaging products for personal use, for the company to reduce production costs and increase profits.

It is understood that rectangular lighting packaging products are mainly SMD support, in the first half of this year, rectangular lighting packaging products revenue 11 million 938 thousand and 200 yuan, gross margin of $29.34%.

In January this year, rectangular lighting investor investigation said the company began production in 2013 January about support, support production capacity of about 2500kk/ months, 3000kk/ months, some products have achieved a single component sales support.

At the same time, rectangular lighting based on the original white packaging on the further development of packaging products, during the reporting period, the company RGB light source, backlight trial production has been completed, part of the RGB light source has been mass production and sales, to become a new profit growth point. (text / China LED network Flora)

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