Ruifeng, Lianjian, Lehman and other 8 companies announced third quarter results

Recently, LED-related companies such as Ruifeng Optoelectronics, Lianjian Optoelectronics, Ledman Optoelectronics, and Xingyu Co., Ltd. announced their third-quarter results. Among them, Xingyu Co., Ltd. and Sanxiong Aurora achieved both revenue and profit growth.

Ruifeng Optoelectronics

In the third quarter, Ruifeng Optoelectronics achieved revenue of 369 million yuan, a year-on-year decrease of 3.98%. Revenue in the first three quarters was 1.048 billion yuan, a year-on-year increase of 1.39%. During the reporting period, net profit attributable to the parent company turned from profit to loss.

Due to weak consumer market demand, the sales revenue and gross profit of Ruifeng Optoelectronics' display LED business, including LCD backlight LED, CHIP LED, RGB LED, MiniLED, etc., as well as lighting LED business, declined year-on-year in the first half of the year.

On the other hand, Ruifeng Optoelectronics' other LED businesses such as automotive LED, infrared LED, ultraviolet LED, laser projection business and touch display modules achieved sales of 162 million yuan in the first half of the year, a year-on-year increase of 54.36%. The growth of touch display and automotive business was the main reason for the revenue growth.

Lianjian Optoelectronics

In the third quarter, Lianjian Optoelectronics achieved revenue of 231 million yuan, a year-on-year decrease of 51.93%, and net profit attributable to the parent company was 16 million yuan, a year-on-year decrease of 49.96%. In the first three quarters, the company achieved revenue of 734 million yuan, a year-on-year decrease of 24.91%; net profit attributable to the parent company was 43 million yuan, turning a loss into a profit year-on-year.

In the first half of this year, Lianjian Optoelectronics’ LED display business achieved revenue growth, sales area increased by 16.17%, and gross profit margin increased from 1.73% to 30.75%. The growth in LED performance drove Lianjian Optoelectronics to achieve a turn from profit to loss in net profit.

In order to continue to focus on the development of LED display business, Lianjian Optoelectronics continues to sell non-core assets. In the first half of the year, Lianjian Optoelectronics disposed of two loss-making subsidiaries, Lima Network and Hong Kong Lianjian. In September, Lianjian Optoelectronics sold its subsidiaries Liandong Precision and Aipu New Media for a total price of approximately 80.26 million yuan.

Ledman Optoelectronics

In the third quarter, Ledman Optoelectronics achieved revenue of 301 million yuan, a year-on-year increase of 14.85%. In the first three quarters, the company achieved revenue of 828 million yuan, a year-on-year decrease of 5.74%. During the reporting period, net profit attributable to the parent company turned from profit to loss.

Affected by factors such as the macroeconomic situation and intensified market competition, Ledman Optoelectronics' overall revenue declined in the first half of the year. However, in various LED display subdivisions, Ledman Optoelectronics has shown a good development trend; its COB products occupy the forefront of the market share and have cooperated with more than 3,000 projects. We have continued to achieve results in major customers and channel construction, with the number of customers increasing year-on-year, and a total of more than 300 channel customer contracts completed; sales of smart conference interactive products have grown rapidly, etc.

In August, Ledman Optoelectronics’ COB expansion project with a total investment of 540 million passed the approval for fixed increase, and received approval for refinancing from the China Securities Regulatory Commission at the end of September. This project is used to produce small-pitch or Micro LED display panel products based on COB technology. The project's designed annual production capacity reaches 72,000 square meters (converted to 1.5mm pitch products).

Xingyu Shares

In the third quarter, Xingyu Shares achieved revenue of 2.812 billion yuan, a year-on-year increase of 25.23%; net profit attributable to the parent company was 315 million yuan, a year-on-year increase of 6.24%; in the first three quarters, it achieved revenue of 7.237 billion yuan, a year-on-year increase of 21.34%, and net profit attributable to the parent company was 782 million yuan, a year-on-year increase of 3.67%.

Xingyu Co., Ltd. focuses on the design, development, manufacturing and sales of automotive lights. Due to the growth of automobile market demand and the improvement of the company's internal technology, management, and production capacity, Xingyu Co., Ltd. achieved growth in revenue and net profit during the reporting period.

In the first half of the year, Xingyu Co., Ltd. undertook lamp development projects for 17 car models and electronic development projects for 2 car models, achieving mass production of 36 new car models. In terms of research and development, Xingyu Co., Ltd. has strengthened the research and development of DLP smart headlights based on DMD technology and HD smart headlights based on Micro LED technology. The products are expected to reach mass production levels by the end of 2023 and 2024.

Three Male Auroras

In the third quarter, Sanxiong Aurora achieved revenue of 671 million yuan, a year-on-year increase of 15.41%; net profit attributable to the parent company was 67 million yuan, a year-on-year increase of 168.63%. In the first three quarters, the company achieved revenue of 1.678 billion yuan, a year-on-year decrease of 0.29%; net profit attributable to the parent company was 144 million yuan, a year-on-year increase of 59.66%.

Sanxiong Aurora mainly provides LED lighting fixtures, lighting sources and lighting control products, with application areas covering commercial lighting, office lighting, industrial lighting, home lighting, outdoor lighting, etc.

Sanxiong Jiguang said that the company's revenue in the third quarter increased year-on-year, but revenue in the first three quarters is expected to decline slightly; due to the decline in the prices of some upstream raw materials and components and the company's strengthening of cost reduction and efficiency improvement measures, the company's comprehensive gross profit margin increased year-on-year during the reporting period.

Changfang Group

In the third quarter, Changfang Group achieved revenue of 125 million yuan, a year-on-year decrease of 20.61%. Revenue in the first three quarters was 451 million yuan, a year-on-year decrease of 23.89%. During the reporting period, net profit attributable to the parent company continued to suffer losses.

Changfang Group is mainly engaged in the research and development, design, production and sales of LED lighting source devices, LED lighting products and other electronic products such as electric fans and portable energy storage products. In the first half of the year, Changfang Group's performance declined due to factors such as insufficient overall demand in the LED industry and the Nanchang Light Source Factory being in trial production.

It is reported that in May last year, Changfang Group announced its investment in advanced LED packaging and MiniLED expansion projects in Nanchang, Jiangxi. The project is expected to have a total investment of 2 billion yuan. The projects mainly include ultraviolet LED, infrared LED, full spectrum LED and MiniLED packaging, as well as bracket production.

Among them, the first phase of the project will first relocate 330 production lines of the Huizhou factory to Nanchang Industrial Park, where they will be produced and operated by Jiangxi Changfang Semiconductor Company. In the later stage, the Mini LED packaging business will be carried out by adding new packaging product equipment. After reaching production, it is expected to increase the high-end packaging production capacity by 2500KK/month, and the annual output value is expected to reach 2 billion yuan.

Langte Intelligence

In the third quarter, Langte Intelligence achieved revenue of 204 million yuan, a year-on-year decrease of 49.20%; net profit attributable to the parent company was 30 million yuan, a year-on-year decrease of 50.84%. In the first three quarters, the company achieved revenue of 598 million yuan, a year-on-year decrease of 34.89%; net profit attributable to the parent company was 61 million yuan, a year-on-year decrease of 55.39%.

Langte Intelligence is engaged in the business of intelligent controllers and intelligent products. The products are mainly used in smart homes and home appliances, lighting, automotive electronics and new consumer electronics and other industries. During the reporting period, due to fierce price competition in smart home and home appliance business and automotive electronics business, Langte Intelligent adjusted prices, resulting in a decrease in overall sales and gross profit margin.

In addition, the sales of energy storage products, including off-grid lighting, are affected by local energy subsidy policies and international currency exchange fluctuations. Customers have slowed down their market investment pace, and demand has declined, resulting in a year-on-year decline in sales. Previously, Langte Intelligence said that in 2023, the company will continue to focus on intelligent controllers and intelligent products, and delve into the fields of energy storage and automotive electronics.

Blue Arrow Electronics

In the third quarter, Blue Arrow Electronics achieved revenue of 157 million yuan, a year-on-year decrease of 16.15%; net profit attributable to the parent company was 80 million yuan, a year-on-year decrease of 57.28%. In the first three quarters, the company's revenue was 530 million yuan, a year-on-year decrease of 4.91%; the net profit attributable to the parent company was 49 million yuan, a year-on-year decrease of 11.99%.

Blue Arrow Electronics is engaged in the semiconductor packaging and testing business, providing discrete devices and integrated circuit products for the semiconductor industry and downstream areas. The company's main products are discrete device products such as triodes, diodes, and field effect transistors, and integrated circuit products such as AC-DC, DC-DC, lithium battery protection ICs, and LED driver ICs.

In the first half of the year, Blue Arrow Electronics’ new production capacity was gradually released, economies of scale gradually formed, and product gross profit margins increased. The company also strengthened its business expansion to new customers, gradually expanded its overall business scale, and increased its product sales volume and sales revenue. Currently, Blue Arrow Electronics’ packaging and testing customers include semiconductor industry customers such as Jingyuan Micro, Weisi Micro, and Jingfeng Mingyuan.