On August 12th, Foshan Guoxing Optoelectronics released the first half of 2010. According to the report, the company realized operating income of RMB 406,824,500, an increase of 39.89% over the same period of the previous year; operating profit of RMB 83,364,700, an increase of 44.14% over the same period of the previous year; net profit attributable to owners of the parent company was RMB 71,873,900, compared with the same period of the previous year. The increase was 45.46%. As of June 30, 2010, the company's total assets were 865,095,500 yuan, an increase of 25.74% over the beginning of the year. The year-on-year increase in operating income was due to the expansion of the company's SMD LED products and the increase in sales volume; the increase in operating profit was due to the increase in operating income greater than the increase in operating costs; the main reason for the year-on-year increase in net profit was the increase in operating profit.
Main business by industry, product status table:
Main business sub-regional situation table:
At present, the company's fund-raising investment projects are being implemented. The production scale of SMD LED's main business continues to expand. In particular, the TOP LED in SMD LED devices has grown rapidly. The operating income in the first half of the year was 146,669,700 yuan, an increase of 193.33% over the same period of the previous year. Become the main profit growth point of the company. The company has started the planning and design of the new plant area on the south side of No. 18 Huabao South Road, the north side of Jihua Second Road and the east side of Fokai Expressway, and promoted the construction of infrastructure such as the fundraising investment project. The main project construction of the first phase of the Xu Rui Optoelectronics Co., Ltd. invested by the company has also been capped and began to be renovated. Since February 26, 2010, the company has held 15.00% of the shares of Xurui Optoelectronics Co., Ltd. through two subscriptions.
Use of raised funds:
According to the report, the company will continue to develop its R&D and innovation capabilities, enhance its core competitiveness, focus on the development of various high value-added SMD LED products, and maintain SMD LED masters. The continuous growth of the business has achieved the vertical extension of the industrial chain and improved the company's efficiency.
As for the main reason that the company's main business income increased by 39.89%, the report believes that the company's main business income source is still SMD LED. From January to June 2010, the revenue of this type of products maintained growth, accounting for 82.12% of the main business income, an increase of 6.50 percentage points compared with the same period of the previous year, although the profitability of the main business (growth rate) remained basically the same as that of the previous year. Stable, but the gross profit contribution rate of SMD LED continued to rise, rising from 73.25% to 80.17%.
The accounts receivable and inventories listed in the balance sheet of the report increased significantly. As of June 30, 2010, the book balance of accounts receivable increased by RMB 45,911,952.36 compared with the beginning of the year, an increase of 44.16%, mainly due to the increase in operating income. Among them, the operating income of TOP LED for display screen was RMB 129,402,227.22, an increase of 51,940,857.71 over the same period of the previous year. Yuan, on June 30, 2010, the balance of accounts receivable for display customers was 51,438,160.64 yuan, an increase of 25,140,477.11 yuan over the beginning of the year.
The book balance of inventories was nearly 200 million, an increase of 83,443,992.44 yuan compared with the beginning of the year, with a growth rate of 72.42%. The main reason was that the company actively increased the inventory in response to the tight supply and price increase of the chip, and guaranteed the supply of materials, and at the same time, in cooperation with the production season of air-conditioning customers. Off-site warehouse inventory. The company stated that it will strive to reduce the inventory of finished products and accelerate inventory turnover by strengthening communication with customers, increasing shipments, shortening delivery time and improving internal management.
As of June 30, 2010, the balance sheet (part):
As one of the three major LED packaging manufacturers in China, its SMD LED output is the first in China, and display and home appliances are the main downstream applications of SMD LED. As the LED market as a whole will continue to develop at a high speed in the second half of the year, this will help the company maintain high growth, and its long-term development is still worth looking forward to. At present, although the company does not have the LED chip production capacity, the company's cooperation with the US Sun Mings (SemiLEDs) and other holdings of the company has extended the industrial chain. At the same time, the funds raised after the listing will have a significant effect on expanding production capacity and increasing scale. After the investment is expected to be put into production, the company's production capacity will be doubled, and the scale advantage will be more prominent. The LED industry has entered a new round of rapid growth under the growth of display, backlight, automotive and lighting applications. Guoxing Optoelectronics will continue to share the tremendous growth of the market.
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