Jiuzhou photoelectric why to the new board of the prodigal "LED enterprise?

As of April 30th, after the first three new board listed on the first full disclosure of the annual report. The overall score quite beautiful, 2318 companies total revenue of $318 billion 457 million, which most of the profits, profit companies 1988, accounting for more than 84.8%. Three new board earnings of 1988 companies, profit of more than $50 million only 68, accounting for more than 3%, of which the market maker, the agreement of the 46.

LED three new board companies 70% increase

In the field of LED, listed on the new board of LED about 30 enterprises, of which 2014 operating income billion yuan enterprises have Jiuzhou optoelectronics, Yuanheng photoelectric, chipshow, JINDA lighting, optical electronics, optoelectronics and Orlund Pu Yamamoto, the top six companies in the performance of more than 200 million yuan. Among them, nearly 70% LED three new board companies to achieve revenue growth.

Data source: Oriental Wealth Choice data

The three new board top ten enterprise losses: the search network with 129 million of the losses to the company or the prodigal title, only a list of more than 100 million loss making enterprises, as well as modern agricultural equipment and Jiuzhou Jiuzhou photoelectric photoelectric, and is the only one on the list of LED companies.

It is understood that Jiuzhou optoelectronics specializing in LED semiconductor lighting applications, LED display and LED Devices R & D, manufacturing and sales, with urban and road lighting engineering design and construction qualifications and capabilities. Direct sales, export, channel model for global customers to provide LED semiconductor lighting solutions and products as a whole, EMC, PPP model of various commercial and municipal engineering projects. Sichuan and Shenzhen have two operating base, Shenzhen has 50000 square meters, Sichuan 12000 square meters of ultra clean, anti-static workshop, built a whole series of LED application products production line, automatic production of semiconductor products with world-class equipment, with an annual output of various types of LED semiconductor lighting products 20 million, LED package 1 billion production capacity.

Jiuzhou photoelectric into LED three new board of the prodigal company"

Jiuzhou optoelectronics 2014 profitability (data source: annual earnings announcement in 2014)

It is worth noting that, Jiuzhou optoelectronics is the largest of the three new Board Companies in, the total operating income of 431 million yuan in 2014, but compared to the operating income of $571 million in 2013 fell by 24.49%. Not only decline in operating income, net profit is even more terrible: loss of 103 million 400 thousand yuan, in 2013 net profit of $2 million 170 thousand, a larger decline, up to 4855.47%. In this regard, Jiuzhou photoelectric explained: with the further intense price competition, industry competition intensified, and the influence of domestic economic slowdown, and government projects in 2014, it is the development of the company more difficult year. Market share, profit fell sharply, on the other hand, the company management fees, the cost of capital in the short term high, and to deal with the fierce market competition and sales costs continue to increase, these have become an important factor in the rapid decline in corporate profits.

Jiuzhou optoelectronics 2014 annual revenue analysis (data source: annual earnings announcement in 2014)

Decline in revenue and rising spending is a direct cause of the loss of a large area of Jiuzhou optoelectronics:

First, operating income, operating profit fell sharply over the previous year, mainly because of the export business in ensuring the company's order continuity and stability of the scale of the business, gross margin remained low. At the same time, the domestic lighting business affected by the macro environment, the scale of decline, business gross profit decreased, resulting in lower overall gross margin.

Lighting engineering and products business revenue fell 8.53% compared with last year, mainly because of the traditional development mode of domestic lighting business, the scale of business by the impact of the macroeconomic environment, due to lower demand resulting in reducing the size of municipal projects. Packaging and display business revenue compared with the previous year, a decrease of 4.03%, mainly the result of the adjustment of the company's business strategy. Through the re analysis and deployment of the business, is expected to be restored in 2015.

Two, costs and expenses, sales expenses, administrative expenses and financial expenses compared with the average annual rise in varying degrees. The main reason is the expansion of the scale of the early expansion of personnel led to higher sunk costs, operating costs increased. Among them, the cost of sales increased significantly, mainly due to staff salaries, transportation and handling fees, increased advertising costs. Operating expenses increased by 1 million 377 thousand and 400 yuan over the previous year, mainly due to the delay in delivery of individual orders lead to customer chargeback.

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