LED is the trend of the sun lighting Q2 energy-saving lamps fell more than expected

The reporter learned by insiders, energy-saving lamps, Yankon now take the initiative to remove gross margin is not high on the list, the annual income is likely to decline more than 20%, but the annual profits will not decline, but better than expected.

It is understood that in June 23rd the sun lighting stock price limit, from June 23rd to June 30th, the cumulative decline of 8.86%. Market uncertainty about the two quarter of the company and other factors, leading to abnormal performance on the market in the near future on the two.

The person said, in June 23rd the company's bonus arrival date, some structured private equity products have led to loss of line, selling mainly afternoon raised funds to follow suit, the volume is not great. Although PHILPS energy orders fell, while low gross margin of the company does not pick up, if the current momentum, better than expected at the beginning of some.

Two quarter energy-saving lamps fell more than expected

Informed sources, from the two quarter of this year, the traditional product revenue fell more than expected, 4-5 month decline in energy saving lamps faster, the revenue will be worse than expected.

The source said that this year, the share of energy saving lamps, the short term will lead to decline in revenue, but profits will not have much impact. Before the energy-saving lamps to replace incandescent lamp, in the promotion of national policy subsidies and other factors result in the energy penetration is very high, and now because of the excellent performance of LED LED, the replacement of energy-saving lamps is also represent the general trend of market behavior.

A brokerage researcher believes that last week's share price fell 8.7%, mainly because the market is worried about the decline in energy-saving lamps than expected and the company's 2 quarter results lower than expected. Global energy saving light is the trend of decline, the decline rate is indeed some of the more than expected; but the global demand for lighting has not declined, can only explain that LED shipments more quickly, it is not a bad thing.

It is worth noting that, from 2013, the main business analysis, the proportion of the company's rapid growth of LED lighting products, energy-saving lamp business has declined. The company's main business was the integration of electronic energy-saving lamps, energy-saving lamps, LED lighting products, LED lighting products revenue 983 million yuan, an increase of 170%; integration of the electronic energy-saving lamps income 1 billion 540 million yuan, down 0.06%, energy-saving lamps income 578 million yuan, down 7.91%. The highest gross margin of LED lighting products, reaching 24.81%.

Overseas orders postponed and government procurement does not affect the annual income

Informed sources said that the first half of the income does not reach the target, the main difference is there an overseas customer orders, to postpone the overseas customer orders a month, expected orders amounting to tens of millions of dollars, will affect the two quarter report, but will not affect the annual income.

A broker researcher believes that the company is one of the largest domestic LED light manufacturing enterprises, orders have the advantage of scale, short-term fluctuations will not affect the company's competitiveness, optimistic about the company's share of nearly two years of continued ascension.

In addition, the industry believes that the company's current profit is affected by the government procurement of energy-saving lamp project, if the two quarter shipments of government procurement of energy-saving lamps, will pull high current cost, drag the current profits, but basically does not affect the performance throughout the year.

For the government to promote the shipment, insiders further confirmed that it will swallow some of the profits of the current period, but will not affect the annual profit.

According to sun lighting, the company in 2013 full year operating income of 3 billion 169 million yuan, an increase of 22.22%, attributable to shareholders of listed companies net profit of $232 million, an increase of 10.27%. Company in 2014 first quarter operating income of 748 million yuan, an increase of $1 billion 465 million, attributable to shareholders of listed companies net profit of $80 million 266 thousand and 400, an increase of 22.39%.

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