Upstream: Dehao turns to Yingqian Zhaoyou, Huacan is happy and smiles with sorrow
Let’s take a look at the situation upstream first. Sanan Optoelectronics, the "big brother" of epitaxial chips, has not released a performance report as of today, so it will not be released for the time being.
The 2014 performance of Dehao Runda, which has been in constant turmoil, has finally been dragged down by the "NVC incident". The recently released revised announcement shows that in 2014, it achieved a net profit of 10 million yuan to 50 million yuan attributable to shareholders of the listed company, achieving a turnaround from a loss of 114.207 million yuan in 2013. In its third quarter report of 2014, it estimated that the net profit attributable to shareholders of listed companies in 2014 would be between 60 million yuan and 90 million yuan. Dehao Runda stated that the reason for the revision of the performance forecast was due to the production and operation losses caused by internal disputes in NVC Lighting, a joint-stock company of Dehao Runda, as well as the relatively large economic losses caused by Wu Changjiang's illegal guarantee. As of the end of 2014 and currently, Dehao Runda holds 27.03% of NVC Lighting's shares, and the company will estimate corresponding losses in accordance with the relevant provisions of China's accounting standards.
After red and yellow light chip giant Qianzhao Optoelectronics got involved in blue and green light, its net profit dropped in 2014. It estimates that the net profit attributable to shareholders of listed companies in 2014 will be 55 million yuan to 75 million yuan, a year-on-year decrease of 28.89%-47.85%, and the profit in the same period last year was 105.4684 million yuan.
Compared with the loss of 8.6166 million yuan in 2013, Huacan Optoelectronics has indeed become a big winner this time. Due to the doubling of sales, the gradual realization of scale benefits, and the relatively stable market price, Huacan Optoelectronics expects to achieve a net profit attributable to shareholders of listed companies of approximately RMB 88 million to RMB 93 million in 2014.
Silan Micro also performed well. It predicts that the net profit attributable to shareholders of listed companies in 2014 will increase by 30%-50% year-on-year, while its net profit attributable to shareholders of listed companies in 2013 was 115 million yuan, which means that Silan Micro's expected profit in 2014 is 150 million yuan-173 million yuan. Silan Micro said that in 2014, the shipment volume of power management ICs, finished power devices, LED chips and finished products continued to maintain a substantial growth, and the company's product profitability was further improved.
When the chip giants finished their performance forecasts, Aoyang Shunchang, which crossed over from the traditional metal logistics business, had already released its annual report. In 2014, Aoyang Shunchang achieved a total revenue of 1.52 billion yuan and a net profit of 170 million yuan, a year-on-year increase of 83.32%. The net profit after deducting non-compliance was 149 million yuan, a year-on-year increase of 68.63%. It must be mentioned that the LED business is a key factor in its performance explosion: the company's LED business achieved a total operating income of 242 million yuan in 2014, a year-on-year increase of 630%, and contributed a net profit of 82.1267 million yuan. Its planned LED business sales revenue target for 2015 is 600 million yuan, and the operating income targets for metal logistics business and small loans are 1.6 billion yuan and 100 million yuan respectively. The net profit attributable to the parent company in the consolidated statement range is 260 million yuan, with a planned growth rate of 53%.
The overall performance of the chip giants is pretty good. What will be the performance of the sapphire concept stocks that are closely related to it? Crystal Optoelectronics' 2014 performance report shows that the company achieved revenue of 978 million yuan in 2014, a year-on-year increase of 56.16%; the net profit attributable to shareholders of listed companies was 152 million yuan, an increase of 33.00% compared with the same period last year.
Ored, which borrowed the shell of "Southwest Pharmaceuticals" to go public, also performed well in 2014, achieving revenue of 620 million yuan, a year-on-year increase of 59.7%, and net profit of 131 million yuan, a year-on-year increase of 73.26%. Perhaps based on the optimistic forecast of sapphire demand, it is expected to achieve revenue of 1.449 billion yuan and net profit of 258 million yuan in 2015. If this prediction comes true, it means that revenue in 2015 is expected to increase by 133.83% year-on-year, and net profit is expected to increase by 97.72% year-on-year. Orred said that in the forecast revenue target for 2015, it is estimated that sapphire crystal ingots are 431 million yuan, single crystal furnaces are 500 million yuan, sapphire wafers are 119 million yuan, consumer windows are 346 million yuan, and other products are 52.1189 million yuan.
I am afraid that Luxiao Technology will no longer be able to "Luxiao". Luxiao Technology, which was still profitable in the past few years, cannot escape the fate of "loss" in 2014. Luxiao Technology’s net profit in 2014 is expected to be a loss of 32 million yuan to 38 million yuan, a year-on-year decrease of 183.97% to 199.71%. The company stated that the main reasons for the decline in the company's performance during the reporting period were due to the impact of the economic situation and environmental protection, the increase in costs and the increase in receivable time; the decline in sales scale of the company's industrial transformation and upgrading, the rapid failure of foreign investment to bear fruit in the year, and the increase in comprehensive financial expenses.
The performance forecast of Denon Optoelectronics, an equipment manufacturer that is at risk of delisting in 2014, is quite surprising. It estimates that the net profit of the listed company in 2014 will be 20 million to 25 million yuan, turning losses into profits. In the same period in 2013, it suffered a loss of 130.06 million yuan. Does this mean that Denon Optoelectronics will successfully protect its shell?
MO Source Dachang Nanda Optoelectronics estimates that the net profit attributable to shareholders of the listed company in 2014 will be 45 million yuan - 55 million yuan, a decrease of 9.22% - 25.73% from the same period last year. Among them, the impact of non-recurring gains and losses on net profit ranges from 4 million yuan to 6 million yuan; the profit in the same period in 2013 was 60.5861 million yuan.
Midstream: Ruifeng and Wanrun are haunted by the curse of "increasing revenue without increasing profits"
Packaging giant Hongli Optoelectronics has performed quite steadily in the past two years, and several major acquisitions have also added to its success. It estimates that the net profit attributable to shareholders of listed companies in 2014 will be 82.4044 million yuan to 94.6125 million yuan, a year-on-year increase of 35% to 55%.
Jufei Optoelectronics, the "champion" of domestic small-size backlight sources, also has promising results. Its estimated net profit attributable to shareholders of listed companies in 2014 is 170.2164 million yuan to 189.8568 million yuan, a year-on-year increase of 30%-45%.
Ruifeng Optoelectronics, the king of medium and large-sized backlight sources, has paid more and more attention to the development of "lighting LED" in recent years. In order to seize the market, Ruifeng Optoelectronics is willing to sacrifice profits, so it is not surprising that it "increases revenue without increasing profits." Ruifeng Optoelectronics estimates that the net profit attributable to shareholders of listed companies in 2014 will be 20 million yuan to 30 million yuan, a year-on-year decrease of 47%-65%.
Ruifeng Optoelectronics is not alone. The packaging factory Wanrun Technology, which was the first to publish its 2014 annual report, also joined the army of "increasing revenue without increasing profits". The company achieved operating income of 523 million yuan in 2014, a year-on-year increase of 19.91%; of which the net profit attributable to shareholders of listed companies was 40.4049 million yuan, a year-on-year decrease of 9.10%. According to the specific content of the announcement, during the reporting period, the operating income of LED light source device products was 391 million yuan, an increase of 27.18% over the same period last year, and the gross profit margin reached 24.39%, a decrease of 0.82% year-on-year; the operating income of LED lighting products was 121 million yuan, an increase of 0.96% over the same period last year, and the gross profit margin reached 37.5%, a decrease of 5.39% year-on-year.
Cangfang Lighting, known as the "price butcher", can be said to have successfully counterattacked. The company estimates that the net profit attributable to shareholders of listed companies in 2014 will be 50 million yuan - 53 million yuan, an increase of 81.91% - 92.82% over the same period last year. The company stated that the reason for the change in performance was that the LED industry as a whole was improving, market demand continued to rise, and the company's various businesses were carried out in an orderly manner. With the increase in marketing efforts and business expansion, the company's operating income increased year-on-year. At the same time, the company strengthened operating cost control, and net profit increased accordingly.
Downstream: Lighting PK display screen loses everything?
Leyard, the originator of small-pitch LED displays, predicts that its net profit will increase by 90%-110% year-on-year in 2014, reaching 152 million yuan-168 million yuan. The net profit in the same period in 2013 was 80.2252 million yuan. Leyard said that the reason for the change in performance was that the company's LED small-pitch TV orders in 2014 were nearly 670 million yuan, a year-on-year increase of about 103%; overseas orders were nearly 350 million yuan, a year-on-year increase of nearly 75%; the synergy effect of mergers and acquisitions was obvious. Kinda Lighting and Leyard Video exceeded their promised profits for 2014, and the government subsidy amount exceeded 30 million yuan, so the current operating income and net profit increased significantly.
Also benefiting from small-pitch LED displays is Unilumin Technology, which estimates its annual profit in 2014 to reach 60 million yuan to 66 million yuan, a year-on-year increase of 81.97% to 100.17%. Unilumin Technology stated that the main reason for the improvement in the company's operating performance in 2014 was that the company's plans and deployments in the field of external sales and small spacing were actively and effectively implemented. The company's overall revenue from export sales increased significantly compared with the same period in 2013. Orders and revenue from the UTV small spacing series products achieved rapid growth. Among them, the revenue from export sales of the UTV small spacing series products increased by approximately 260% year-on-year.
Lianjian Optoelectronics’ net profit attributable to the parent company in 2014 increased by 760.64%-840.56% over the same period, with profits ranging from 140 million yuan to 153 million yuan. Among them, Timeshare Media, which was acquired through external mergers and acquisitions in 2014, made outstanding performance after consolidation in May, achieving a net profit of 86 million yuan to 93 million yuan. Excluding the time-sharing contribution performance, Lianjian Optoelectronics' internally generated net profit was 54 million yuan to 60 million yuan. The company's net profit attributable to the parent company in the same period last year was 16.2669 million yuan, and the organic growth rate during the same period nearly tripled.
有钱“任性”喜欢搞“零首付”的艾比森用业绩证明了自己“玩得起”。公司预计2014年度归属于上市公司股东的净利润1.51亿元-1.62亿元，同比增长32%-42%。艾比森表示，业绩变动原因为2014年公司海外订单持续快速增长，同比增长近
Ocean King Lighting, which has gone through mountains of knives and sea of fire and finally successfully IPOed, recently released a revised performance forecast, adjusting the original expected net profit attributable to shareholders of listed companies in 2014 from 176.5905 million yuan to 198.5486 million yuan to 163.8579 million yuan to 181.1061 million yuan, a year-on-year increase of -5% to 5%. Ocean King stated that the reason for the performance revision was due to internal adjustments and changes in the external environment in the power grid, metallurgy, coal, factory power and other industries, which resulted in the company's fourth quarter sales revenue being lower than expected, and the company's net profit did not meet expectations.
In 2014, Jiawei Co., Ltd. achieved a net profit attributable to shareholders of listed companies of RMB 8 million to RMB 11 million, a year-on-year decrease of 45.54% to 60.39%. Jiawei Co., Ltd. said that in 2014, the company's traditional LED lawn lamp business and special photovoltaic module business revenue declined slightly, while LED lighting business revenue continued to grow. The overall business revenue increased slightly compared with last year; net profit dropped significantly compared with 2013, mainly due to the company's sales expenses and administrative expenses rising significantly.
In 2014, Qinshang Optoelectronics, which was in constant turmoil, turned from a profit to a loss. It recently issued a revised performance forecast announcement. The company expects the net profit attributable to shareholders of listed companies to be 20.7987 million yuan to 41.5974 million yuan in 2014, a year-on-year decrease of 60% to 80%. The profit in the same period in 2013 was 103.9935 million yuan. The company had previously estimated that the net profit attributable to shareholders of listed companies in 2014 would be between 103.9935 million yuan and 124.7922 million yuan. Qinshang Optoelectronics stated that the main reasons for the performance revision were: due to the impact of the macro economy and the further intensification of competition in the LED market, the company's orders in 2014 were lower than expected, resulting in the company's full-year sales falling short of expectations; the company's research and development expenses increased during the reporting period; the company's provision for inventory depreciation increased during the reporting period; the company's joint venture losses increased than expected; the construction progress of some of the company's 2014 projects was slower than expected, resulting in a decrease in revenue recognized during the reporting period.
ANNA