Two big data announced behind Linsen listed

Can withstand strong wind and big waves, hide too intrigues, from the July 27, 2011 successfully issued by the Audit Commission, January 30, 2015 to get the approval of the Commission in the first application, Linsen shares boil for three years, finally again to get at the key time of listing bell sounded.

Net profit CAGR of up to 98.22%

According to our public prospectus, our operating results showed rapid growth, operating income of 2 billion 873 million 646 thousand and 600 yuan from 2011 to 2013 growth of 1 billion 273 million 578 thousand yuan, the annual compound growth rate of 50.21%, net profit of 436 million 143 thousand and 900 yuan from 2011 to 2013 growth of 111 million 4 thousand and 300 yuan, the annual compound growth rate of 98.22%, to maintain rapid growth.

In Chinese, LED packaging factory in January 2014 to September: nationstar revenue 1 billion 142 million yuan, net profit of 100 million yuan; honglitronic revenue 687 million yuan, net profit of 54 million 862 thousand and 500 yuan; Jufei revenue 761 million yuan, net profit of 131 million yuan; REFOND revenue 688 million yuan, net profit of 40 million 182 thousand and 800 yuan; rectangular lighting revenues of 680 million yuan, net profit of 38 million 281 thousand and 800 yuan; allring technology revenue 400 million yuan, net profit of 34 million 113 thousand and 800 yuan.

The MLS from January 2014 to September revenue of 2 billion 770 million yuan, net profit of 338 million 248 thousand yuan. There is no doubt that for China, LED packaging factory, Linsen will undoubtedly become a huge amount of company.

Data sources: M.L.S. shares prospectus

The global market research firm TrendForce's green energy division LEDinside "2014 Chinese packaging industry market survey report" shows on the rate of market Chinese LED package, Chinese LED packaging manufacturers Linsen ranking in 2013 jumped to fourth, compared with 2012 growth of nearly 70%.

The scale of production has been our competitive advantage, by the end of September 30, 2014, the company has an annual output of 127 billion Lamp /SMD LED package production capacity, with 1635 automatic solid crystal machine, 2093 sets of automatic welding machine, 2189 sets of automatic machines, 434 sets of automatic fluorescent powder machines and other production equipment.

And the scale of production has also led to the implementation of large-scale procurement of Linsen chip, thus obtain lower chip prices, in addition, the scale of production can also effectively reduce unit labour costs and allocation of product manufacturing cost, reduce production costs.

The first three quarters of 2014, our gross margin of 27.99%, net interest rate of 12.22%, while the country star power over the same period the gross margin was 25.62%, net interest rate is 7.95%, honglitronic year gross margin was 23.78%, net interest rate of 8.11%.

Data sources: Company third quarter 2014 earnings

2014 revenue exceeded 4 billion yuan

Rawlinson said, 2014 revenue of 4 billion 1 million 667 thousand and 900 yuan, compared to 2013 increased 1 billion 128 million 21 thousand and 300 yuan, an increase of 39.25%, net profit of 439 million 424 thousand and 400 yuan, with basically the same as in 2013.

In 2014 the company revenues continue to increase, but net profit is not synchronized growth, the main reasons for MLS: first of all, the company in 2014 will continue to increase efforts to expand to LED lighting, LED lighting, advertising sales staff input, exhibition exhibition costs increased sharply, leading to the 2014 cost of sales 86 million 701 thousand and 800 yuan more than last year, an increase of 122%, the current engulfed part of the profits. At the same time, because the lighting market threshold low, competition is more intense, as new entrants, the production process should be improved, the scale advantage has not yet appeared, labor cost and manufacturing cost is high, so the lighting of the low margins, pulled down the company's overall gross profit margin; secondly, since the second half of 2014 SMD, increased product market competition, sales prices continued to decline, the unit price fell more than unit costs decline, the company in 2014 SMD product gross margin fell 5.31 percentage points over the previous year, the current level of profits thinned.

Our operating results are expected to continue to maintain growth during the first quarter of 2015, operating income is expected to increase 10%-30%, net profit is expected to increase 0-20%.

The concern is that the input and output of LED started to increase Linsen lighting since 2013, LED lighting sales mainly rely on the dealer channel. 2014 1-9 months, the company's LED lighting sales revenue of 301 million 852 thousand and 800 yuan, representing an increase of $194 million 28 thousand and 300 over the same period last year, an increase of 180%. (text / China LED network Amber)

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