Eight companies including Foshan Lighting and Leyard announced their 2024 performance forecasts

Recently, Foshan Lighting, Wanrun Technology, CVTE, Leyard, Ocean King, Shiyida, Jingce Electronics, and Dehao Runda announced their 2024 performance forecast.

Foshan Lighting

In 2024, Foshan Lighting is expected to achieve a net profit attributable to the parent company of 400 million to 470 million yuan, a year-on-year increase of 37.76% to 61.87%; net profit after deducting non-attributed profits to the parent company is 67 million to 101 million yuan, a year-on-year decrease of 63.43% to 75.62%.

During the reporting period, Foshan Lighting's land parcels were purchased and stored by the government, publicly listed and successfully transferred, increasing the company's non-recurring net income of approximately 295 million yuan in 2024. On the other hand, affected by the environment of weak market demand and price pressure, the performance of the subsidiary Nationstar Optoelectronics was lower than expected. According to preliminary calculations, the company expects to make an impairment provision of approximately 130 million yuan to 160 million yuan for the goodwill formed due to the acquisition of the equity of Nationstar Optoelectronics.

Wanrun Technology

Wanrun Technology predicts that the net profit attributable to the parent company will be 0.50-75 million yuan in 2024, a year-on-year increase of 10.50% to 65.75%; excluding non-net profit attributable to the parent company, it will turn a profit.

Wanrun Technology is mainly engaged in LED, semiconductor memory new generation information technology business, comprehensive energy service business and advertising media business. Among them, in the LED field, Wanrun Technology mainly provides mid-to-high-end LED light source device packaging, LED lighting application products and LED lighting engineering comprehensive services.

During the reporting period, Wanrun Technology's customer orders increased year-on-year, and the company's sales increased; the two wind electronics companies acquired by the company in the third quarter of 2023 contributed to consolidated profits during the reporting period; in addition, the performance growth also accrued performance compensation income due to performance commitment-related matters.

CVTE

CVTE released a performance report. In 2024, the company achieved total revenue of 22.457 billion yuan, a year-on-year increase of 11.32%; net profit attributable to the parent company was 972 million yuan, a year-on-year decrease of 29.07%.

During the reporting period, CVTE continued to explore domestic and foreign markets and achieved revenue growth. In terms of business layout, the company's LCD main control board and other related business revenue increased by 13.64% year-on-year; the household electrical appliance business revenue maintained rapid growth, growing by 70.23% year-on-year; the automotive electronics business also maintained a steady development trend.

In terms of education business, due to factors such as the tightening of customer procurement budgets, revenue fell by 8.69% year-on-year; revenue from enterprise service business fell by 2.18% year-on-year; in terms of emerging businesses, LED business, computing equipment business, and power electronics business achieved steady development.

Leyard

Due to impairment testing of goodwill and identifiable intangible assets, domestic and foreign market demand being less than expected, price declines, etc., in 2024, Leyard expects the company's net profit attributable to the parent company to turn from profit to loss year-on-year.

It is worth noting that 2024 is the final year of Leyard’s strategic cycle of “technology-led industrial layout and expanded application”. The company has taken a series of measures to ensure stable operations:

In the field of Micro LED, Leyard's high-end MIP production line for substrate-less chips below 50 μm, which is focused on research and development, has been officially put into mass production on November 20, 2024, with a production capacity of up to 1200KK/month in the first phase. During the reporting period, Leyard's Micro LED products were packaged in two forms: MIP and COB; as of December 31, 2024, Micro LED revenue exceeded 800 million yuan, and orders have doubled for two consecutive years.

In addition, Leyard has increased its collection efforts and fund management, improved its domestic and foreign market teams and brand strategies, and increased the development of its cultural tourism sector, AI and spatial computing businesses.

Ocean King

In 2024, Ocean King expects the company’s net profit attributable to its parent company to turn from profit to loss.

Ocean King stated that during the reporting period, the company's main business, professional lighting revenue and profits achieved double growth compared with the same period last year, and the professional lighting profit growth rate was not less than 20%. However, the operating income of the construction engineering business of its holding subsidiary Shenzhen Mingzhihui Smart Technology Co., Ltd. declined and operating losses occurred.

During the reporting period, Ocean King conducted comprehensive inspections and impairment tests on various assets based on the business development of its subsidiary Mingzhihui and the external economic situation, and made provision for impairment of various assets. Among them, the amount of goodwill impairment planned to be accrued is approximately 100 million yuan.

Shiyida

Shiyida predicts that the company’s revenue in 2024 will be 580 million yuan to 620 million yuan; net profit attributable to the parent company will turn from profit to loss; net profit after non-attribution to the parent company will be 9 million yuan to 13.5 million yuan, a year-on-year decrease of 39.34% to 59.56%.

Shiyida focuses on the field of intelligent hardware. Its main products and services include intelligent hardware manufacturing business and intelligent terminal product business. Among them, the intelligent terminal product business mainly includes the design, research and development, production and sales of LED intelligent lighting and related supporting intelligent terminal products, providing customers with LED product solutions.

Jingce Electronics

Jingce Electronics expects that the company’s net profit attributable to the parent company will turn from profit to loss year-on-year during the reporting period.

Jingce Electronics is mainly engaged in the research and development, production and sales of display, semiconductor and new energy detection systems. The company's current main products in the display field cover testing equipment for LCD, OLED, Mini LED, Micro OLED, Micro LED and other various display devices, including electrical testing and debugging system equipment, pre-process AOI equipment, automation equipment integration products, etc.

In 2024, Jingce Electronics will deliver TGV testing equipment for use in Mini/Micro LED and other fields. Regarding performance changes, Jingce Electronics said that the company's display and new energy fields are facing greater challenges and pressures. In order to consolidate the company's market position, the company has lowered product prices in some display fields according to market conditions and actively participated in competition. As a result, the company's gross profit margin in the display field has dropped to a certain extent compared with the same period last year, and net profits in the display field have declined significantly.

On the other hand, during the reporting period, Jingce Electronics made rapid progress in the semiconductor field, and its operating income in the semiconductor field is expected to nearly double.

Dehao Runda

In 2024, Dehao Runda expects the net profit loss attributable to the parent company to shrink year-on-year.

During the reporting period, Dehao Runda's small home appliance export business turned a loss into a profit, with net profit significantly reducing losses by approximately 110% year-on-year; LED packaging business revenue increased by approximately 35% to 40% year-on-year, and net profit increased by approximately 110% to 120% year-on-year.

Dehao Runda stated that after the company's LED-related business is shut down, the related assets that have not yet been processed still need to accrue depreciation, accrue asset impairment and pay necessary maintenance expenses. The impact on the net profit attributable to shareholders of the listed company is expected to be approximately -52 million to -75 million yuan.

It is reported that since the company's LED chip and LED display business has been shut down, in September last year, Dehao Runda announced that it planned to sell the idle assets of its subsidiaries Dalian Dehao Optoelectronics and Dalian Dehao Semiconductor to Dalian Derun Asset Operation Co., Ltd., a subsidiary of the Dalian Jinpu New District Management Committee, with a total transaction price of 135 million yuan.