On August 22, the domestic small and medium-sized backlight faucet Jufei Optoelectronics (300303.SZ) disclosed the 2015 semi-annual report. According to the financial report data, from January to June 2015, Jufei Optoelectronics' operating income was 416 million yuan, down 13.49% year-on-year; the net profit attributable to shareholders of listed companies reached 67.954 million yuan, down 18.77% from the same period of last year.
If the non-recurring gains and losses such as government subsidies are deducted, the interim net profit of Jufei Optoelectronics is only 49,116,800 yuan, a decline of 40.94%.
As Jufei Optoelectronics said in the China Daily, although the company is a small and medium-sized backlight company in China, “but in the face of domestic and foreign competitors, if the company cannot continuously improve its overall competitiveness, it may be disadvantageous in the fierce market competition. status."
The downside risks of product unit price and gross profit margin also “threaten†the original advantages of Jufei Optoelectronics.
According to the financial report data, in the middle of 2015, the revenue from LED backlight business, which accounted for 89% of Jufei Optoelectronics' revenue, was 368 million yuan, down 11.07% year-on-year. The most important thing is that the backlight gross profit as the main business has dropped rapidly from 30.77% in the first half of last year to the current 26.15%.
As a result of the expansion of the LED industry, the lighting LED business revenue decreased by 35.78%, and the revenue was only 37.5 million yuan.
The intensification of backlight competition has also forced Jufei Optoelectronics to begin diversifying its path.
In the mid-year report, Jufei Optoelectronics said that it has begun to increase competition for major international customers in the industry. At present, the domestic backlight companies have a small share of international large customers, and the market size of these customers is far beyond the existing market.
"The smooth implementation of the internationalization strategy will expand the new development space for the company, and the international customers will have a large scale, high concentration, and excellent customer quality. Once the cooperative relationship is established, it can quickly increase the volume and quality of the company. Since 2013, the company has implemented an internationalization strategy, which lasted for two years. After the difficult market expansion in the previous period, it has gradually entered the stage of substantive cooperation.†Jufei Optoelectronics said that the current influential Han, Japan, Taiwan, etc. The well-known electronic backlight module companies are willing to cooperate actively, and most of them have officially cooperated with the company or are actively promoting the cooperation process, and international customers have begun to increase their volume. .
Emerging electronic materials, including optical films, have also become an entry point for the diversification of Jufei Optoelectronics. It is understood that Jufei Optoelectronics on the one hand through the introduction of advanced equipment, improve product quality, establish quality advantages, cost advantages; on the other hand, actively explore the first-line customers, the use of good relationships with customers already established, to play close to the market advantage Expand product sales scale and increase market share. At present, first-line customers have been introduced one after another, the number of customers continues to increase, and sales volume increases month by month.
Testing water cross-border communication and data services is the "new darling" of Jufei to explore new business.
In July 2015, Jufei Optoelectronics signed a formal agreement with Newinfo Holdings Limited to acquire a 51% stake in LiveCom Limited. At present, the work related to equity transfer is actively progressing.
LiveCom is registered in Hong Kong and has a SBO operating license for communications services. It operates three main types of services: international basic network services, corporate IT consulting and integrated services, and overseas Chinese TV services.
Two weeks before the disclosure of the semi-annual report, Jufei Optoelectronics received an approval letter from the CSRC. Jufei Optoelectronics plans to raise more than 600 million yuan, and the funds raised will be used for backlight LED products (devices, light strips) expansion projects, lighting LED product expansion projects and LED technology R & D center expansion projects.
According to the previous issuance plan, among the 600 million yuan raised funds, 320 million yuan was used for the expansion of backlight LED products, 214 million yuan for lighting LED product expansion projects, and 0.66 billion yuan for LED technology R&D center expansion.
Jufei Optoelectronics is embarking on a diversified path to break the single bottleneck of product structure.
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