The first half results of five companies including Skyworth Digital are released

Recently, five LED-related companies announced their results for the first half of 2023. Among them, Jingsheng Electromechanical and Haoyang Co., Ltd. achieved revenue and net profit growth, while Skyworth Digital, Hengtai Lighting, and Han's Laser saw revenue and net profit decline.

Skyworth Digital: Large-size MiniLED TV backlights have been sold in batches

In the first half of 2023, Skyworth Digital achieved revenue of 5.17 billion yuan, a year-on-year decrease of 17.15%; net profit attributable to the parent company was 318 million yuan, a year-on-year decrease of 35.36%; gross profit margin was 16.64%, a year-on-year decrease of 17.15%.

Skyworth Digital is mainly based on the development of optical communications, digitization, ultra-high definition, virtual reality and automotive display. Its business is divided into intelligent terminals, professional displays, operation services and others.

Among them, professional displays include vehicle-mounted human-computer interaction display assembly systems, vehicle-mounted intelligent display instrument systems, MiniLED backlight modules, small and medium-sized display modules, commercial large-screen displays, etc.

In the first half of this year, Skyworth Digital achieved revenue of 1.256 billion yuan in professional display, a year-on-year increase of 40.93%, and its revenue ratio increased from 14.28% in the same period last year to 24.29%.

According to Skyworth Digital, in the first half of the year, in the LED device business, the company's MiniLED backlight module technology has been at the leading level in the industry. Large-size MiniLED TV backlight panels based on AM drive and COB technology have been sold in batches to international first-line brand customers. In the future, they will be further promoted in professional monitors, car displays, VR displays and other products;

In the automotive electronic display assembly business, during the reporting period, the company obtained display assembly projects for multiple models, including: Changan Avita's new key new energy model project in 2023, FAW Bestune Car Co., Ltd. model project, etc. The company's market share continued to expand.

In the small and medium-sized first display module business, due to factors such as the decline in market demand, the unit price of this business order fell during the reporting period, the gross profit margin fell significantly year-on-year, and the net profit loss was serious. The company is working hard to improve efficiency and reduce costs, develop new customers, and deploy new technologies.

Jingsheng Electromechanical: Net profit increased by 82.78%

Jingsheng Electromechanical said that in the first half of the year, the company strengthened research and development innovation and actively Launching innovative photovoltaic equipment and extending the layout of high-end equipment products in the semiconductor industry chain; accelerating the construction of new projects and rapidly promoting the expansion of new generation diamond wire and other advanced materials and precision parts business; vigorously exploring the market and promoting market expansion of new products, the company's performance has grown rapidly year-on-year.

During the reporting period, Jingsheng Electromechanical achieved revenue of 8.406 billion yuan, a year-on-year increase of 92.37%; net profit was 2.206 billion yuan, a year-on-year increase of 82.78%.

Among them, equipment and service revenue was 6.107 billion yuan, a year-on-year increase of 71.23%; materials business revenue was 1.883 billion yuan, a year-on-year increase of 244.17%. As of June 30, 2023, the company's uncompleted crystal growth equipment and intelligent processing equipment contracts totaled 27.751 billion yuan, of which 3.324 billion yuan was unfinished in semiconductor equipment contracts.

Jingsheng Electromechanical belongs to the special equipment manufacturing industry, and its main business activities are the research and development, production and sales of photovoltaic equipment, semiconductor equipment and LED substrate materials. The main products include: crystal growth equipment, intelligent processing equipment, quartz crucibles and sapphire products, etc.

In the field of sapphire, Jingsheng Electromechanical can provide sapphire ingots, crystal rods and wafers that meet the needs of LED lighting substrate materials and window materials. At present, Jingsheng Electromechanical has mastered the growth technology of super-large sapphire crystals, successfully grown 700Kg-level sapphire crystals, and achieved large-scale mass production of 300Kg-level and above sapphire crystals, and 4-inch and above-sized sapphire wafers.

In the field of silicon carbide, Jingsheng Electromechanical has successfully grown 8-inch N-type silicon carbide crystals through multiple rounds of diameter expansion of its own seed crystals, and has built an 8-inch silicon carbide substrate R&D test line to accelerate the development of large-size silicon carbide substrate materials.

Haoyang Co., Ltd.: Domestic demand for performing arts equipment increased sharply, and net profit increased by 27.12%

Haoyang Co., Ltd.’s main products include: stage entertainment lighting equipment, architectural lighting equipment, trusses Racks and UV disinfection, equipment, etc. In the first half of the year, Haoyang Co., Ltd. achieved revenue of 709 million yuan, a year-on-year increase of 24.16%; net profit attributable to the parent company was 223 million yuan, a year-on-year increase of 27.12%.

Haoyang shares, in the first half of the year, domestic measures restricting performing arts activities were fully relaxed, and the market demand for performing arts equipment recovered rapidly, driving the demand for the company's products to grow. Haoyang's stage entertainment lighting equipment business revenue was 668 million yuan, a year-on-year increase of 28.91%, with a gross profit margin of 50.91%. Among them, domestic market sales were 63.66 million yuan, a year-on-year increase of 66.77%.

During the reporting period, Haoyang Co., Ltd. also continued to increase investment in research and development and launch new products; it actively explored domestic and foreign markets to further enhance its brand influence; it accelerated the improvement of production capacity and promoted the construction of production capacity projects.

In terms of production capacity projects, in January this year, the performance lighting equipment production base of Haoyang Co., Ltd. was officially capped. The project has a total investment of 600 million yuan to build stage entertainment lighting equipment production plants, exhibition halls and office areas.

Hengtai Lighting: Overseas demand has decreased, and the company's net revenue and profit have declined

Hengtai Lighting is mainly engaged in the production, research and development, and sales of LED lighting products. The products are mainly used in office lighting, industrial lighting, and commercial lighting. It mainly uses direct sales with ODM as the mainstay and OEM as the supplement. model, the main source of sales is the North American market.

In the first half of the year, Hengtai Lighting achieved revenue of 239 million yuan, a year-on-year decrease of 31.87%; net profit attributable to the parent company was 0.33, a year-on-year decrease of 51.98%; gross profit margin dropped to 24.89% from 28.47% in the same period last year.

Hengtai Lighting stated that the decline in revenue was mainly due to a significant decrease of 56.92% in the first quarter of this period compared with the same period last year. Although orders in the second quarter have significantly recovered compared with the first quarter, the decline has significantly narrowed, and performance continues to recover, the overall operating income in the first half of 2023
is still lower than the same period last year.

The main reason for the decline in net profit is that the company focuses on the North American market. Affected by factors such as the Federal Reserve's sharp interest rate hike and overseas economic uncertainty, the overall market demand has decreased. Due to weak demand in the LED lighting market, the company adopted a price reduction strategy, resulting in a decline in gross profit margin during the reporting period.

Looking forward to the second half of the year, Hengtai Lighting will continue to focus on the LED industrial and commercial lighting market segments; accelerate the construction of factories in Vietnam to reduce the risk of supply chain dispersion; establish a domestic sales company to develop the domestic market.

Han’s Laser: Continue to promote Mini/Micro LED equipment business

Han's Laser specializes in intelligent manufacturing equipment and key components. Its main products are divided into three categories: general components and industry popular products, industry-specific products, and extreme manufacturing products.

Among them, industry-specific products include information industry equipment, new energy equipment, and semiconductor equipment. Semiconductor equipment is mainly used in the production and processing of semiconductors, LEDs, display panels and other pan-semiconductors.

In the first half of the year, Han's Laser orders declined as downstream customers became more cautious in their investments. At the same time, Han's Laser has increased its resource investment in the photovoltaic industry and power battery industry, as well as increased investment in research and development in the semiconductor industry and core devices, and its expenditures have increased.

During the reporting period, Han's Laser achieved revenue of 6.087 billion yuan in the first half of the year, a year-on-year decrease of 12.25%, and net profit attributable to the parent company of 424 million yuan, a year-on-year decrease of 32.88%.

Among them, Han’s Laser’s semiconductor equipment (including pan-semiconductor) business achieved operating income of 838 million yuan, a year-on-year decrease of 19.16%.

Han's Laser said that the LED market recovered slowly in the first half of the year, and the company continued to promote the technology upgrade and performance improvement of LED equipment such as laser stripping, laser full cutting and MiniLED repair.

In the field of Micro LED, the company is simultaneously advancing the layout of MIP and COB packaging routes, and has developed equipment for mass transfer, mass welding, and repair of Micro LED, which has received good market verification feedback.

In terms of third-generation semiconductor technology, the silicon carbide laser slicing equipment developed by the company is continuing to promote cooperation with leading customers in the industry to prepare for large-scale production, and has launched a new product of silicon carbide laser annealing equipment.