On August 17, Sanan Optoelectronics released the first half of 2010. During the reporting period, Sanan Optoelectronics realized operating income of 360 million yuan, completed a total profit of 250 million yuan, and realized a net profit of 202 million yuan. Compared with the same period of last year, sales revenue increased by 69.18%, total profit increased by 287.78%, and net profit attributable to shareholders of listed companies increased by 257.19%. (Figure 1, 2)
In addition, due to strong market demand for LED products, the production capacity of Sanan Optoelectronics expanded rapidly, the price of some products increased, and the profitability of the main business further improved. At the same time, the company received a subsidy of 127 million yuan in the first quarter, resulting in the net realization of the company in the middle of 2010. Profits have increased significantly over the same period last year.
Main business by industry, product status table
Main business by region
As a result of the company's non-public issuance of 31.5 million shares to a specific target in 2009, nearly RMB 800 million was invested to invest in the new LED Industrialization Project of Tianjin Sanan Optoelectronics Co., Ltd. The Tianjin Sanan LED Industrialization Project was put into production on June 24, 2010, forming an annual production capacity of 850,000 epitaxial wafers and 20 billion chips. Compared with the previous production capacity of 500,000 epitaxial wafers and 18 billion chips, the company's production capacity has more than doubled. In addition, at the beginning of 2010, the company signed an agreement with Wuhu City, Anhui Province, and decided to invest in the construction of LED industrialization base in Wuhu Economic and Technological Development Zone. The agreement stipulated that the total investment of the project is about 12 billion yuan (the first phase investment is 6 billion yuan), of which the purchase is completed. There are 200 MOCVD equipments with world-class levels. After the Wuhu project is completed and put into production, it will form an annual production capacity of 5.3 million ultra-high brightness LED red yellow blue green light epitaxial wafers and a production capacity of 117 billion chips. At present, the first phase of epitaxy and chip core equipment plant civil engineering is basically completed. The company has ordered 107 MOCVD and 486 sets of MS100 sorting machines. It is expected that the equipment will arrive in succession after September.
On the market front, according to media reports, the company has actively cooperated with domestic and foreign color TV manufacturers to carry out product certification, in order to enter the huge market supply chain of LCD backlights. At this time, the cut-in can be said to be justified. According to research institutes, domestic LED LCD TV penetration is expected to enter a period of rapid growth at the end of this year, with a penetration rate of 25%, reaching a climax by the end of next year, and the penetration rate is expected to reach 33.8%. The introduction of national energy consumption standards for flat-panel TVs will also stimulate domestic LCD TV companies to actively promote the popularization of LED LCD TVs. As the largest and most powerful LED chip company in China, the company is likely to have made great progress in the field of LCD backlighting.
In addition, the company signed a contract with the Wuhu City Housing and Urban-Rural Development Committee for a 600 million high-power LED street lamp, which sells 200 million LED street lamps every three years. The contract is conducive to the company's further development in the LED application products, especially the high-power street lighting market, and the proportion of products is expected to further increase. At the same time, the company and Chery Automobile Co., Ltd. jointly established a company in Wuhu Economic and Technological Development Zone. Sanan Optoelectronics holds 51% of the total share capital, and is engaged in the design of various related parts and components such as LED packaging, application, automotive lighting and other application fields. Production, sales, service and other services. It is expected that with the successive implementation of the 600 million yuan street lamp contract in Wuhu and the launch of the automotive lighting products of Wuhu Anrui Photoelectric Co., Ltd., the company's LED application products will continue to grow rapidly. From the perspective of gross profit margin, the gross profit margin of the chip reached 41.75%, while the application product has a certain decline in gross profit margin due to market expansion, but still reached 41%. The company is stepping up efforts to enter the downstream application field, integration strategy The intention is gradually clear. (Editor: Green Light Xiang)
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