Sanan Optoelectronics Annual Report reviews high-speed growth
1. The internal and external incomes have increased significantly.
In 2009, the company's revenue and profit increased significantly, and the growth rate of net profit was much higher than the growth rate of revenue. Since the company completed the major asset reorganization at the end of June 2008, the economic benefits of LED business-oriented target assets from July 2008 have been included in the consolidated profit statement of the company, while benefiting from the increase in liquid crystal backlight penetration. The development of the public lighting industry, landscape lighting and other fields, the industry development momentum is good, the company as a leading industry to fully benefit. In addition to the company's own revenue and profit growth, the company received government subsidies of 56 million yuan in 2009, which is one of the reasons for the sharp increase in profits.
Since the company's restructuring in 2008, the main changes have brought about rapid growth in performance.
At the same time, the industry is expected to enter a stage of rapid development. Under the encouragement of national policies, the company faces a good internal and external environment, and the rapid growth of performance can continue.
2. Improved profitability and improved operational capacity
Affected by the financial crisis, the company's gross profit margin began to decline. It began to rebound from the first quarter of 2009. By the fourth quarter of 2009, the gross profit margin was 46.47%, up nearly 10 percentage points from the first quarter. At the same time, due to the decline in financial rates and management rates, the company's period rate decreased. At the same time, the company's inventory turnover rate and accounts receivable turnover rate are also increasing. Due to the issuance of additional projects in 2009, the total asset turnover rate has declined. Overall, it seems that the improvement of operational capacity is due to the impact of the financial crisis on the electronics industry. At the end of 2008, the income at the beginning of 2009 was relatively small. With the economic recovery, the company's income increased, the scale effect gradually reflected, and the product gross profit margin and period rate were significantly improved. The company's profitability improved. Increased operational capabilities. It is expected that with the recovery of the economy and the industry, the company's profitability and operational capabilities will be further improved and improved.
3. Opportunity and competition coexist
In 2009, the company completed the non-public issuance of 31.5 million shares to specific targets, and raised a net amount of 799.782 million yuan to invest in the construction of Tianjin Sanan Optoelectronics Co., Ltd. LED industrialization project. At the same time, the company decided to invest in the construction of LED industrialization base in Wuhu Economic and Technological Development Zone, engaged in R&D and manufacturing of LED epitaxial wafers, chips and packaging, and applied products. The total investment of the project is about RMB 12 billion, which is implemented in phases, with a phase of investment of RMB 6 billion. Yuan Renminbi.
The company ranks first in the domestic counterparts, and its market share ranks first in the country, and its position in the industry. The company has increased its investment in the LED field to build an international LED enterprise. With the support of national policies, the domestic LED industry is facing a good development environment. However, with the rise of the LED industry, some major domestic LED manufacturers have expanded their production, and the entry of some companies outside the industry and multinational LED companies has also intensified competition. The company currently has opportunities and competition.
4. Rapid expansion of production capacity to meet industry demand
Although the popularity of LED personal lighting has been around for a while, with the rapid increase in backlight penetration and the promotion of government procurement and commercial lighting, the LED industry is driving at a high speed. Due to the rapid growth of the industry, the investment of manufacturers has led to the popularization of LEDs in technology and cost, which has accelerated the popularity of personal lighting. It is expected that the compound annual growth rate of the industry will be more than 50% in the next two years. The stage of rapid growth is long-term optimistic for the industry.
The company currently has 22 MOCVD and matching chip manufacturing lines and testing equipment, with an annual production capacity of 850,000 pieces of epitaxial wafers. The annual production scale of the Tianjin project is 850,000 pieces/year, and the chip is 20 billion pieces/year. It is expected to start production in April, when the company's MOCVD will reach 37 units, and the company's production capacity will expand rapidly. And with the construction of the future Wuhu project, the company's scale will expand dramatically. The expansion of the company's production capacity lays the foundation for the rapid development of the LED industry. The expansion of production capacity is in line with the needs of the industry.
5. The company has financing needs
The company recently decided to invest in the construction of LED industrialization base in Wuhu Economic and Technological Development Zone with a total investment of about RMB 12 billion. Such a large-scale investment has financing needs for the company. The company's distribution plan decided to use the existing company's total share capital of 277,684,949 shares as the base, and it is also a financing option to transfer 10 shares of capital reserve to every 10 shares to all shareholders. As the project progresses, the company's financing needs will be even stronger.
In 2009, the company's revenue and profit increased significantly, and the growth rate of net profit was much higher than the growth rate of revenue. Since the company completed the major asset reorganization at the end of June 2008, the economic benefits of LED business-oriented target assets from July 2008 have been included in the consolidated profit statement of the company, while benefiting from the increase in liquid crystal backlight penetration. The development of the public lighting industry, landscape lighting and other fields, the industry development momentum is good, the company as a leading industry to fully benefit. In addition to the company's own revenue and profit growth, the company received government subsidies of 56 million yuan in 2009, which is one of the reasons for the sharp increase in profits.
Since the company's restructuring in 2008, the main changes have brought about rapid growth in performance.
At the same time, the industry is expected to enter a stage of rapid development. Under the encouragement of national policies, the company faces a good internal and external environment, and the rapid growth of performance can continue.
2. Improved profitability and improved operational capacity
Affected by the financial crisis, the company's gross profit margin began to decline. It began to rebound from the first quarter of 2009. By the fourth quarter of 2009, the gross profit margin was 46.47%, up nearly 10 percentage points from the first quarter. At the same time, due to the decline in financial rates and management rates, the company's period rate decreased. At the same time, the company's inventory turnover rate and accounts receivable turnover rate are also increasing. Due to the issuance of additional projects in 2009, the total asset turnover rate has declined. Overall, it seems that the improvement of operational capacity is due to the impact of the financial crisis on the electronics industry. At the end of 2008, the income at the beginning of 2009 was relatively small. With the economic recovery, the company's income increased, the scale effect gradually reflected, and the product gross profit margin and period rate were significantly improved. The company's profitability improved. Increased operational capabilities. It is expected that with the recovery of the economy and the industry, the company's profitability and operational capabilities will be further improved and improved.
3. Opportunity and competition coexist
In 2009, the company completed the non-public issuance of 31.5 million shares to specific targets, and raised a net amount of 799.782 million yuan to invest in the construction of Tianjin Sanan Optoelectronics Co., Ltd. LED industrialization project. At the same time, the company decided to invest in the construction of LED industrialization base in Wuhu Economic and Technological Development Zone, engaged in R&D and manufacturing of LED epitaxial wafers, chips and packaging, and applied products. The total investment of the project is about RMB 12 billion, which is implemented in phases, with a phase of investment of RMB 6 billion. Yuan Renminbi.
The company ranks first in the domestic counterparts, and its market share ranks first in the country, and its position in the industry. The company has increased its investment in the LED field to build an international LED enterprise. With the support of national policies, the domestic LED industry is facing a good development environment. However, with the rise of the LED industry, some major domestic LED manufacturers have expanded their production, and the entry of some companies outside the industry and multinational LED companies has also intensified competition. The company currently has opportunities and competition.
4. Rapid expansion of production capacity to meet industry demand
Although the popularity of LED personal lighting has been around for a while, with the rapid increase in backlight penetration and the promotion of government procurement and commercial lighting, the LED industry is driving at a high speed. Due to the rapid growth of the industry, the investment of manufacturers has led to the popularization of LEDs in technology and cost, which has accelerated the popularity of personal lighting. It is expected that the compound annual growth rate of the industry will be more than 50% in the next two years. The stage of rapid growth is long-term optimistic for the industry.
The company currently has 22 MOCVD and matching chip manufacturing lines and testing equipment, with an annual production capacity of 850,000 pieces of epitaxial wafers. The annual production scale of the Tianjin project is 850,000 pieces/year, and the chip is 20 billion pieces/year. It is expected to start production in April, when the company's MOCVD will reach 37 units, and the company's production capacity will expand rapidly. And with the construction of the future Wuhu project, the company's scale will expand dramatically. The expansion of the company's production capacity lays the foundation for the rapid development of the LED industry. The expansion of production capacity is in line with the needs of the industry.
5. The company has financing needs
The company recently decided to invest in the construction of LED industrialization base in Wuhu Economic and Technological Development Zone with a total investment of about RMB 12 billion. Such a large-scale investment has financing needs for the company. The company's distribution plan decided to use the existing company's total share capital of 277,684,949 shares as the base, and it is also a financing option to transfer 10 shares of capital reserve to every 10 shares to all shareholders. As the project progresses, the company's financing needs will be even stronger.
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