Six LED lighting-related companies including Inventron announced their first-half results

Recently, LED lighting-related companies such as Inventronics, AICA, Minbang Optoelectronics, Hengtai Lighting, Igor, Jingfeng Mingyuan and other companies have successively announced their first-half results. Among them, Minbao Optoelectronics and Igor achieved revenue and net profit growth, Inventronics turned losses into profits, and Jingfeng Mingyuan narrowed its losses.

Inventronics

Inventronics is mainly engaged in the research and development, production, sales and technical services of LED lighting supporting products such as LED drive power supplies, sensors, control systems and LED modules. In the first half of the year, the company achieved operating income of 1.335 billion yuan, a year-on-year increase of 23.32%; net profit attributable to the parent company was 34.9169 million yuan, turning a loss into a profit year-on-year.

During the reporting period, thanks to the completion of the strategic merger and acquisition of Osram's Digital Systems Europe and Asia business (DS-E business) in 2023, Inventron's sales volume increased significantly compared with the same period last year; at the same time, the company actively optimized its product structure, strengthened its operational management capabilities and internal control, and achieved a turnaround from losses to profits in the first half of 2024.

The semi-annual report shows that the consolidation of DS-E business has promoted the rapid growth of the company's revenue scale. The company's LED drive power supply business achieved revenue of 956 million yuan, a year-on-year increase of 20.52%, while the revenue growth rates of the light strip and sign business, module business, and control system business were 83.62%, 80.94%, and 93.11% respectively.

It is reported that Inventronics’ original “Inventronics” brand LED drive power supply mainly focuses on medium and high power with relatively high technical requirements, while the acquired DS-E business “OSRAM” brand products mainly produce various small and medium power LED drive power supplies, LED modules, LED light engines, and electronic control devices.

During the reporting period, the company continued to promote integration work and accelerated the transfer of "OSRAM" brand assets. By establishing an LED lighting business group, it fully integrated the marketing teams of the "Inventronics" brand and the "OSRAM" brand to increase cross-selling opportunities for the two brands. It established subsidiaries and sales offices in different overseas countries and regions to jointly serve domestic and foreign customers, enhance the company's brand influence in Eurasia, and thereby enhance the global competitiveness of the company's brand.

AICA

AICA's operating income in the first half of the year was 380 million yuan, a year-on-year decrease of 7.56%; the net profit loss attributable to the parent company was approximately 56.27 million yuan.

AIKE Co., Ltd. is a high-tech enterprise specializing in the research and development, production, sales and service of outdoor intelligent lighting and cloud control systems. Its products include smart landscape lighting, smart road lighting and other series. In addition, in recent years, AICA has also continued to make cross-border deployments in the new energy track.

During the reporting period, AICA achieved revenue of 220 million yuan in the LED optoelectronic products segment, a year-on-year decrease of 23.20%, with a gross profit margin of 22.50%; the new energy electronic auxiliary material product segment achieved revenue of 73.217 million yuan, a year-on-year increase of 14.42%, with a gross profit margin of 11.55%; photovoltaic wind power product sales and construction achieved revenue of 39.076 million yuan, with a gross profit margin of 9.43%.

Minbao Optoelectronics

Minbao Optoelectronics achieved operating income of 816 million yuan in the first half of the year, a year-on-year increase of 8.99%; net profit attributable to the parent company was 127 million yuan, a year-on-year increase of 8.08%.

The main business of Civil Explosion Optoelectronics covers two major business segments: commercial lighting and industrial lighting. It also expands into special lighting fields such as plant lighting, emergency lighting, beauty lighting and explosion-proof lighting. Among them, the parent company Civil Explosion Optoelectronics specializes in the commercial lighting business, and the subsidiary Aigeste specializes in the industrial lighting business.

In the first half of the year, Minbang Optoelectronics continued to increase investment in research and development and technological innovation, continuously developed and broadened product application fields, and accelerated product iterative updates. In addition, in terms of market expansion, the company further increases promotion efforts in major markets and enhances the depth of cooperation with customers. At the same time, it actively explores market demand in emerging countries, increases market development efforts in emerging countries, and expands new customers.

According to product classification, during the reporting period, Minbang Optoelectronics' LED commercial lighting products achieved revenue of 484 million yuan, a year-on-year increase of 17.83%; LED industrial lighting products achieved revenue of 296 million yuan, a year-on-year decrease of 1.78%.

Hengtai Lighting

Hengtai Lighting's main business is the production, research and development and sales of LED lighting products. The products are mainly used in industrial lighting, office lighting and commercial lighting. In the first half of the year, the company achieved operating income of 299 million yuan, a year-on-year increase of 24.80%; net profit attributable to the parent company was 22.5571 million yuan, a year-on-year decrease of 30.96%.

During the reporting period, due to sluggish domestic demand, weak demand in the LED lighting market and competition over inventory, companies were more likely to grab export orders at low prices. In order to maintain existing customers and develop new customer demand, the company adopted price reduction promotions for some products. In addition, factors such as the company's pain of running into cross-border operations and management resulted in a serious shortage of delivery capabilities, the failure of production capacity to fully meet order demands, and the mismatch between the response speed of the supply chain and the pace of production, which had a certain impact on the company's performance.

Looking forward to the second half of 2024, Hengtai Lighting will deeply tap the potential of the LED industrial and commercial lighting equipment market segments, develop new products to provide customers with differentiated products and services, further optimize the cost structure and sales network, continuously improve the professionalism and teamwork capabilities of employees, and improve the core supply chain system and the coordination and integration between Nantong and Vietnam factories.

Igor

Igor focuses on the R&D, production and sales of power supplies and power component products for industrial and consumer fields. The products can be widely used in photovoltaic power generation, industrial control and lighting fields. In the first half of the year, the company achieved total operating income of 2.053 billion yuan, a year-on-year increase of 30.44%; net profit attributable to the parent company was 176 million yuan, a year-on-year increase of 95.38%.

During the reporting period, mainly benefiting from the strong demand in the global new energy industry, the company's energy products achieved revenue of 1.485 billion yuan, a year-on-year increase of 329 million yuan, a year-on-year increase of 28.44%, and continued to maintain a rapid growth trend.

Lighting products achieved revenue of 452 million yuan, an increase of 117 million yuan from the same period last year, a year-on-year increase of 34.81%. This was mainly due to the recovery of market demand in the lighting industry, the company's active optimization of product structure, promotion of technological innovation and product upgrades, and improvement of the competitiveness of lighting products, thereby increasing revenue growth during the reporting period.

Other products achieved revenue of 116 million yuan, an increase of 33.3832 million yuan over the same period last year, a year-on-year increase of 40.61%, mainly due to the increase in incubation business shipments and effective progress in customer development.

Jingfeng Mingyuan

Jingfeng Mingyuan achieved operating income of 735 million yuan in the first half of the year, a year-on-year increase of 19.40%; the net profit attributable to the parent company was a loss of 30.5076 million yuan.

Jingfeng Mingyuan’s business focuses on the two major sectors of power management chips and control driver chips, specifically covering four major product lines: LED lighting power chips, motor control driver chips, AC/DC power chips and DC/DC power chips. The change in operating income in the first half of the year was mainly due to the significant year-on-year increase in sales volume and revenue of the AC/DC power chip business and motor control driver chip business.

During the reporting period, the company's LED lighting power supply product sales revenue was 443 million yuan, a year-on-year decrease of 8.85%, mainly due to the fact that the sales growth of general LED lighting products was not as fast as the decline in product unit price. However, the company's sales revenue from smart LED lighting products continued to grow, its high-performance lighting product line achieved breakthroughs with two international customers, and its market share continued to increase.

In terms of gross profit margin, due to the adjustment of product sales structure and the cost reduction caused by the new generation of process batches, the gross profit margin of LED lighting products has been continuously restored, achieving a gross profit margin of 29.71%, an increase of 7.62 percentage points over last year.