Hongli Optoelectronics: Adjusting the LED business layout to prepare for the industry downturn
[Text / high-tech LED reporter]
As we all know, compared with other links in the industry chain, LED packaging companies have relatively low risk resistance. According to the survey data of the High-tech LED Industry Research Institute (GLII), the number of domestic packaging enterprises in 2011 will be significantly higher than in previous years, and the number of enterprises that are expected to close down during the year will reach 10%. At the same time, compared with the profit of more than 90% of LED packaging companies in 2010, the proportion of loss-making enterprises will increase significantly this year.
For Li Guoping, chairman of Hongli Optoelectronics, who has just entered the capital market, it should not be easy in the near future. According to the latest report released by the company in the third quarter of 2011, the total operating income of the company from January to September was 403 million yuan, up 28.67% year-on-year; operating profit was 66.20 million yuan, up 22.70% year-on-year; net attributable to shareholders of listed companies The profit was 51.16 million yuan, an increase of 10.73% year-on-year. Such results have been lower than market expectations.
What worries investors is that the company's third-quarter revenue fell 14.96%, while net profit fell 16.38% year-on-year and 33.52%. Gross profit margin was 31.74%, down 4.18 percentage points from the same period of last year.
0.54 percentage points.
In the last issue of "High-tech LED-Research and Review", Li Guoping wrote: As the focus of LED applications - the penetration rate of LED backlights and lighting has not been expected to increase, resulting in structural excesses in the production capacity of some enterprises in the industry. The war was chosen as the primary choice for competition. Obviously, Hongli Optoelectronics has not escaped the industry downturn of price war and gross profit, but the gross profit margin of 31.74% is at a higher level in the same industry.
On November 28, 2011, Guangzhou Hongli Optoelectronics Co., Ltd. (hereinafter referred to as “Hongli Optoelectronicsâ€) issued a notice stating that the 17th meeting of the Board of Directors reviewed and approved the use of some super-raised funds to expand the industrial base of Guangzhou Huadu Optoelectronics Base. The motion of the sex plant. According to the plan, after the completion of the construction of the base, the company's existing production system and auxiliary production system (ie, 1.8 billion production capacity in 2010) and all employees of the parent company will be relocated to the optoelectronic base west of Dongfeng Avenue of the automobile city, and some plants will be reserved. As a company to expand production capacity.
This move is considered to be Hongli Optoelectronics in order to better play the scale effect of Guangzhou Huadu Photonics Base, reduce management costs and improve work efficiency.
Recently, the company issued a notice saying that the high-tech industrial base in Huadu Airport of Guangzhou City obtained the state-owned land use right of the total land area of ​​about 50,000 square meters (the exact area is determined by the red line area determined by the Ministry of Land and Resources) through open bidding. Invest in the construction of production base projects for LED product application and development.
This year and next year, the industry is generally believed to be the low-end adjustment period of the LED industry. Domestic small and medium-sized LED enterprises will face a crisis of survival, and industry integration will become the norm. For listed companies like Hongli Optoelectronics, there will be great opportunities.
Because the continuous decline in the price of upstream products has also made it possible to release a large amount of demand in the downstream market.
Strictly control costs and increase R&D investment
According to the reporter, Hongli Optoelectronics is currently one of the largest suppliers of white LED devices in China. In 2010, its sales revenue of white LED devices reached 220 million yuan, accounting for 50.53% of sales, compared with previous years (2008, 2009 white light) LED sales accounted for 33.05% and 38.51%, respectively, which are in a steadily rising stage. When interviewing some downstream customers of the company, the reporter generally gave a high evaluation: "In terms of the mainland, the product quality of Hongli Optoelectronics is more secure than that of other companies, and the failure rate of patches is less than other companies. â€
For the price war in the packaging industry at the moment, Li Guoping also expressed deep sympathy when interviewed by Gao Gong LED reporter. According to his client, he has just purchased a batch of products from Hongli Optoelectronics and successfully lowered the price, and the price is not small. The customer analyzed to reporters that the decline in product prices comes from three aspects: the first is to ensure low inventory in the current case of falling orders, to maintain the stability of corporate revenue; the second is the decline in upstream feed costs, including The price of the chip has dropped sharply; the third is the improvement of technology. The mainstream products that represent higher technology have to be introduced into the market, and it is necessary to let the relatively low-end products give up the price space.
As we all know, compared with other links in the industry chain, LED packaging companies have relatively low risk resistance. According to the survey data of the High-tech LED Industry Research Institute (GLII), the number of domestic packaging enterprises in 2011 will be significantly higher than in previous years, and the number of enterprises that are expected to close down during the year will reach 10%. At the same time, compared with the profit of more than 90% of LED packaging companies in 2010, the proportion of loss-making enterprises will increase significantly this year.
For Li Guoping, chairman of Hongli Optoelectronics, who has just entered the capital market, it should not be easy in the near future. According to the latest report released by the company in the third quarter of 2011, the total operating income of the company from January to September was 403 million yuan, up 28.67% year-on-year; operating profit was 66.20 million yuan, up 22.70% year-on-year; net attributable to shareholders of listed companies The profit was 51.16 million yuan, an increase of 10.73% year-on-year. Such results have been lower than market expectations.
What worries investors is that the company's third-quarter revenue fell 14.96%, while net profit fell 16.38% year-on-year and 33.52%. Gross profit margin was 31.74%, down 4.18 percentage points from the same period of last year.
0.54 percentage points.
In the last issue of "High-tech LED-Research and Review", Li Guoping wrote: As the focus of LED applications - the penetration rate of LED backlights and lighting has not been expected to increase, resulting in structural excesses in the production capacity of some enterprises in the industry. The war was chosen as the primary choice for competition. Obviously, Hongli Optoelectronics has not escaped the industry downturn of price war and gross profit, but the gross profit margin of 31.74% is at a higher level in the same industry.
On November 28, 2011, Guangzhou Hongli Optoelectronics Co., Ltd. (hereinafter referred to as “Hongli Optoelectronicsâ€) issued a notice stating that the 17th meeting of the Board of Directors reviewed and approved the use of some super-raised funds to expand the industrial base of Guangzhou Huadu Optoelectronics Base. The motion of the sex plant. According to the plan, after the completion of the construction of the base, the company's existing production system and auxiliary production system (ie, 1.8 billion production capacity in 2010) and all employees of the parent company will be relocated to the optoelectronic base west of Dongfeng Avenue of the automobile city, and some plants will be reserved. As a company to expand production capacity.
This move is considered to be Hongli Optoelectronics in order to better play the scale effect of Guangzhou Huadu Photonics Base, reduce management costs and improve work efficiency.
Recently, the company issued a notice saying that the high-tech industrial base in Huadu Airport of Guangzhou City obtained the state-owned land use right of the total land area of ​​about 50,000 square meters (the exact area is determined by the red line area determined by the Ministry of Land and Resources) through open bidding. Invest in the construction of production base projects for LED product application and development.
This year and next year, the industry is generally believed to be the low-end adjustment period of the LED industry. Domestic small and medium-sized LED enterprises will face a crisis of survival, and industry integration will become the norm. For listed companies like Hongli Optoelectronics, there will be great opportunities.
Because the continuous decline in the price of upstream products has also made it possible to release a large amount of demand in the downstream market.
Strictly control costs and increase R&D investment
According to the reporter, Hongli Optoelectronics is currently one of the largest suppliers of white LED devices in China. In 2010, its sales revenue of white LED devices reached 220 million yuan, accounting for 50.53% of sales, compared with previous years (2008, 2009 white light) LED sales accounted for 33.05% and 38.51%, respectively, which are in a steadily rising stage. When interviewing some downstream customers of the company, the reporter generally gave a high evaluation: "In terms of the mainland, the product quality of Hongli Optoelectronics is more secure than that of other companies, and the failure rate of patches is less than other companies. â€
For the price war in the packaging industry at the moment, Li Guoping also expressed deep sympathy when interviewed by Gao Gong LED reporter. According to his client, he has just purchased a batch of products from Hongli Optoelectronics and successfully lowered the price, and the price is not small. The customer analyzed to reporters that the decline in product prices comes from three aspects: the first is to ensure low inventory in the current case of falling orders, to maintain the stability of corporate revenue; the second is the decline in upstream feed costs, including The price of the chip has dropped sharply; the third is the improvement of technology. The mainstream products that represent higher technology have to be introduced into the market, and it is necessary to let the relatively low-end products give up the price space.
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