Ten companies including Wanrun Technology, Hongli Intelligence, and Sunshine Lighting announced their first-half results

Recently, Wanrun Technology, Hongli Intelligence, Sunshine Lighting, Lianyu Shares, Netac Intelligent, Ocean King, Delong Laser, Qinshang Shares, GQY Video, and Starlight Shares announced their results for the first half of 2024. Among them, Lianyu Technology and Netac Intelligent achieved net profit growth, while Wanrun Technology and Xingguang Technology turned losses into profits.

Wanrun Technology: LED lighting business drives performance growth

In the first half of 2024, Wanrun Technology achieved revenue of 1.999 billion yuan, a year-on-year decrease of 8.47%, and net profit attributable to the parent company was 28.8088 million yuan, a year-on-year increase of 524.61%, achieving a turnaround from loss to profit; net profit after non-attributed to the parent company was 14.0166 million yuan, a year-on-year increase of 157.30%, achieving a turnaround from loss to 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.

LED manufacturing business has become one of the important factors in the performance growth of Wanrun Technology. Under the multiple pressures of increasingly fierce competition in the LED market, rising material prices, and strict price control by clients, during the reporting period, Wanrun Technology adhered to market demand leadership, actively stabilized the existing market and old customers, tapped incremental markets, and developed new customers, achieving double growth in order performance.

In the first half of the year, Wanrun Technology’s LED light source devices and related business revenue was 199 million yuan, a year-on-year increase of 31.84%, accounting for 9.94% of total revenue. In this business, Wanrun Technology focuses on exploring market segments such as consumer electronics, automotive electronics, fire security and smart home. During the reporting period, Wanrun Technology actively participated in exhibitions to display and promote LED automotive electronic products and technologies, and was committed to serving customers Provide users with comprehensive automotive lighting solutions and expand the scale of LED automotive electronics business.

LED lighting and related businesses achieved revenue of 206 million yuan, a year-on-year increase of 14.10%, accounting for 10.33% of total revenue. During the reporting period, Wanrun Technology continued to delve into the rail transit lighting market, continued to dig into the sign lighting and light strip lighting market segments, actively explored new application scenarios such as smart homes and consumer electronics, and strengthened the development of the educational lighting market. In addition, during the reporting period, Wanrun Technology was also vigorously developing LED lighting projects and won bids for multiple projects.

Hongli Zhihui: LED packaging business revenue increased by 14.84%

In the first half of the year, Hongli Zhihui achieved revenue of 1.902 billion yuan, a year-on-year increase of 12.14%; net profit attributable to the parent company was 80 million yuan, a year-on-year decrease of 34.19%.

During the reporting period, Hongli Zhihui continued to focus on the "one body, two wings" industrial development strategy, continued to consolidate the business foundation of the semiconductor packaging sector, and focused on the Mini/Micro LED new display and automotive lighting and electronic sectors.

In the LED semiconductor packaging business, Hongli Zhihui achieved revenue of 1.534 billion yuan, a year-on-year increase of 14.84%, accounting for 80.68% of total revenue, a gross profit margin of 16.77%, and a comprehensive product yield rate of 97.99%. Its packaging products include Mini LED backlight, direct display, white LED, automotive grade LED, UV LED, LED bracket and other products.

Hongli Zhihui said that under the increasingly severe market situation, the company's lighting packaging sector has continuously optimized its market sales strategy, strived to build an efficient sales system, increased the sales share of key strategic customers and key market areas, and achieved double growth in output and sales. The turnover of full-spectrum products, outdoor products, filament products, patented products and other series has grown steadily and reached a record high.

In the LED automotive lighting business, Hongli Zhihui continues to leverage its integration advantages in the automotive-grade LED packaging-module-car lighting industry chain to promote the collaborative integration of internal resources within the sector, and at the same time actively expands business cooperation channels to seize market incremental space. The LED automotive lighting business achieved a main business income of 290 million yuan, accounting for 15.26% of total revenue, a gross profit margin of 27.84%, and a comprehensive product yield rate of 96.13%.

During the reporting period, Hongli Zhihui successfully obtained the supplier codes of new customers such as Leapao, and obtained new project appointments; at the same time, some products of Chery, Geely, BAIC, Hezhong and other brands were put into mass production. In the field of commercial vehicles, the company supplies headlights and taillights in batches to Yutong Bus, BAIC Heavy Truck, etc., and has reached cooperation with internationally renowned manufacturers such as VOLVO Construction Machinery, Grote, and Itzfal. In order to cope with the rapid growth of new project orders, Hongli Zhihui expanded the production capacity of its independent dedicated line for automotive-grade LED lamp beads.

In terms of Mini LED technology, Hongli Zhihui continues to promote the research and development of new products, realizing the Hongyi series of large-size module P1.25 products and the Hongping P0.78 ultra-small room away from mass production and shipment of the product. In the field of Mini LED backlight, the company has consolidated its leading position in the field of VR applications, and at the same time actively expanded applications in many new scenarios such as notebooks, aviation and navigation, handheld game consoles, and drone controllers. In the automotive field, Hongli achieved mass production of its first automotive backlight module in the middle of this year.

It is worth noting that on the day the results were announced, Hongli Zhihui also announced that the company planned to acquire a 5% stake in Hongli Display held by Nanchang Guangheng Electronics for RMB 4.6472 million. After the acquisition is completed, Hongli Display will become a wholly-owned subsidiary of the company. Hongli Display's business scope includes TFT-LCD, PDP, OLED and other flat-panel display screens and display material manufacturing; LED display screen manufacturing; electronic components and assembly manufacturing; optoelectronic device and other electronic device manufacturing; lighting fixture manufacturing.

Sunshine Lighting: Positive changes in market demand, LED lighting business revenue growth

In the first half of the year, Sunshine Lighting achieved revenue of 1.661 billion yuan, a year-on-year increase of 8.29%; net profit attributable to the parent company was 73 million yuan, a year-on-year decrease of 48.18%; net profit after non-attribution to the parent company was 122 million yuan, a year-on-year increase of 16.71%.

Sunshine Lighting stated that in the first half of 2024, the lighting industry showed a certain degree of positive changes in terms of overall development and import and export trade. Business development in the first half of the year was basically in line with expectations at the beginning of the year, and the quality of operations has improved. The decline in net profit was mainly due to the impact of changes in the fair value of the trading financial assets held by the company on the current profit. The growth in net profit after deducting non-attributed profits shows that the company's main business still maintains steady growth.

Information shows that the company's main business is the research and development, production, and sales of lighting appliances, and it also provides customers with comprehensive lighting solutions. The main products include LED lighting products and lighting control systems, covering commercial lighting, home lighting, office lighting, outdoor lighting, track lighting, industrial lighting, educational lighting and other general lighting, as well as emergency lighting, plant lighting, and electrical appliances.

Lianyu Shares: Overseas high-power lighting business sales increased

Lianyu Shares achieved revenue of 772 million yuan in the first half of the year, a year-on-year increase of 20.48%; net profit attributable to the parent company was 76 million yuan, a year-on-year increase of 2.56%.

Lianyu Co., Ltd. focuses on the R&D, production and sales of medium and high-power LED lighting products. Its main products include LED lamps and light sources. The products are mainly used in outdoor and industrial lighting fields, and continue to expand into plant lighting, sports lighting, explosion-proof lighting and other special lighting fields.

During the reporting period, Lianyu's performance growth was mainly due to the fact that overseas markets were still in a period of rapid development, the return of manufacturing in the North American market, coupled with the continued advancement of infrastructure construction, increased demand for high-quality, high-power outdoor and industrial lighting. In addition, under the dual-carbon background, the outdoor and industrial lighting fields are accelerating the transformation to high-efficiency, low-energy consumption LED lighting solutions. These have provided guarantee for the stable growth of Lianyu Shares' performance. In the first half of the year, Lianyu's overseas business revenue was 739 million yuan, a year-on-year increase of 22.24%.

In addition, during the reporting period, Lianyu Co., Ltd. increased the research and development of cutting-edge technologies in industries such as intelligent control systems and wireless networking, and accelerated the construction of overseas production bases to further increase the scale of overseas production and supply and strengthen the company's global supply capabilities.

Netac Intelligence: Achieving double growth in revenue and net profit

Netac Intelligent achieved revenue of 736 million yuan in the first half of the year, a year-on-year increase of 12.83%; net profit attributable to the parent company was 34 million yuan, a year-on-year increase of 1.22%.

Netac Intelligent’s main business includes two major segments: electrical controllers and finished products and intelligent power supplies and controllers. Among them, electrical controllers and finished products mainly include smart controllers for various household appliances, power tools, and new consumer home appliance finished products; smart power supplies and controllers include new energy battery packs, BMS, plant lighting and other products.

Netac Intelligent said that during the reporting period, the company's downstream demand recovered, and end customer orders for power tools and household appliances both achieved year-on-year growth. Among them, the household appliances sector increased by 27.36%, and the power tools sector increased by 18.4%. Downstream demand gradually recovered.

Ocean King: Achieved double growth in professional lighting revenue and profit in the first half of the year

In the first half of the year, Ocean King achieved revenue of 724 million yuan, a year-on-year decrease of 13.71%; net profit attributable to the parent company was 43 million yuan, a year-on-year decrease of 46.35%.

Ocean King is combining working environment lighting products with the Internet, giving full play to the product portfolio advantages of LED products + controller + service platform to provide customers with professional lighting solutions.

Ocean King said that in the first half of the year, the company achieved double growth in professional lighting revenue and profits, and professional lighting profits achieved a growth of no less than 20%. However, it failed to make up for the losses incurred by its holding subsidiary Shenzhen Mingzhihui Smart Technology Co., Ltd. (hereinafter referred to as Mingzhihui). The main reason for its losses was that due to the impact of local government fiscal tightening and the cooling of the real estate market, the number of new orders for landscape lighting projects declined, resulting in a decline in Mingzhihui's operating income.

During the reporting period, Ocean King’s lighting equipment business revenue was 705 million yuan, a year-on-year increase of 3.94%, accounting for 97.27% of revenue; urban and road lighting engineering construction business revenue was 12.54 million yuan, a year-on-year decrease of 91.85%.

DeLonghi Laser: Revenue increased by 34.90% in the first half of the year

Delong Laser achieved revenue of 278 million yuan in the first half of the year, a year-on-year increase of 34.90%; net profit turned from profit to loss. De'Longhi Laser's main products are precision laser processing equipment and lasers. In the semiconductor field, De'Longhi Laser can provide Micro LED stripping/mass transfer equipment, LED/Mini LED wafer laser stress-induced cutting equipment, silicon carbide ingot slicing equipment, laser annealing equipment, etc.

It is reported that in the field of Micro LED, De'Longhi Laser's Micro LED laser stripping and laser repair equipment has been delivered to customers and generated revenue, and Micro LED laser mass transfer equipment has received orders from leading customers.

In the first half of the year, Delonghi Laser actively promoted the acceptance of orders on hand, especially the early research and development of new products and customized equipment. During the reporting period, the company's orders continued to grow. However, in order to continue to invest in the research and development of new products, and at the same time actively participate in market competition and increase the expansion and support of new businesses, the company's number of employees increased, employee salaries increased, and research and development expenses and sales-related expenses increased faster than the same period last year, which affected the net profit.

Qinshang Shares: Actively exploring domestic and foreign markets, lighting sales orders have increased

Qinshang Shares achieved revenue of 222 million yuan in the first half of the year, a year-on-year increase of 18.40%; net profit attributable to the parent company turned from profit to loss.

The main business of Qinshang Co., Ltd. is the semiconductor lighting business, focusing on the research and development, production and sales of smart lighting, outdoor lighting, landscape lighting, and outdoor courtyard lighting products. The revenue growth in the first half of the year was mainly due to Qinshang's active development of domestic and foreign markets and the increase in sales orders. Among them, the outdoor garden supplies business revenue was 178 million yuan, a year-on-year increase of 51.76%, accounting for 80.22% of the total revenue.

GQY Video: Large-screen splicing display system business revenue fell by 36.80%

GQY Video achieved revenue of 77 million yuan in the first half of the year, a year-on-year increase of 0.94%; net profit attributable to the parent company continued to suffer losses.

GQY Video Co., Ltd. specializes in large-screen intelligent display overall solutions. The company's main products and services cover large-screen splicing display systems, high-resolution visualization systems, and system integration services. Among them, the large-screen splicing display system business includes Mini/Micro LED splicing screens, DLP splicing and LCD splicing and other products.

In the first half of the year, GQY Video’s large-screen splicing display system business achieved revenue of 47.28 million yuan, a year-on-year decrease of 36.80%; system integration business revenue was 29.61 million yuan, a year-on-year increase of 1788.13%.

Starlight Shares: Multiple LED lighting business revenue growth

In the first half of the year, Starlight Shares achieved revenue of 70 million yuan, a year-on-year increase of 18.83%; net profit attributable to the parent company turned a profit.

During the reporting period, Starlight's ultraviolet germicidal lamp business revenue decreased by 38.81% year-on-year; automotive lighting business revenue increased by 2.26% year-on-year; LED indoor lighting revenue increased by 82.94% year-on-year; fluorescent lamp indoor lighting business revenue increased by 257.30% year-on-year; lithium battery production equipment series product revenue increased by 268.30% year-on-year.

During the reporting period, Starlight Co., Ltd. closely followed the development trend of science and technology, acquired the equity of quantum information technology company, and laid out the development of new productivity. At the same time, the company actively expands its business and has established a number of new subsidiaries, covering intelligent lighting, healthy lighting, information security, quantum secure communications and other fields, broadening the company's business territory and further enhancing the company's professional capabilities in various market segments.