At the same time, in the concept of energy conservation and environmental protection, more and more residents of consumers choose energy-saving lighting products as the first choice lighting products, LED lamps and other energy-saving lighting products, the rapid popularization of a strong support of the overall scale of the lighting market growth.
Research data show that 2016 China led downstream applications in the market scale of 369.7 billion yuan, year-on-year growth of 15.71%, the increase compared with 2015. The display, backlight, lighting and other application plates accounted for 12%, 11%, 66% and 11% respectively. Ggii forecast, 2017 China led downstream application output value will reach 445.1 billion yuan, growth rate of 20.4%.
As the first national recognition Technology Center in lighting industry, the main business is the development, production and sales of lighting appliances, the major products are green lighting products for general lighting, including LED lighting products, integrated electronic energy-saving lamps, T5 high-power fluorescent lamps and matching luminaires.
Up to now, the sun Lighting has been established in Zhejiang, Fujian, Jiangxi, Anhui four bases, with 400 million LED light source and 80 million sets of LED lamps annual production capacity. In the bulb products and lamp-type products, some of the items have been formed in size.
According to the senior engineer led access to financial results found that the first half of the 2017 revenue to achieve 2.403 billion yuan, the year-on-year increase of 13.01%, the realization of the net profit attributable to shareholders of listed companies 232 million yuan, year-on-year growth of 6.71%, the company's income and net profit to maintain a stable growth. Among them, LED products revenue 2.128 billion yuan, year-on-year growth of 22.34%, income accounted for 89.41%, traditional energy-saving lamp products revenue 252 million yuan, the year-on-year decrease of 30.46%, income accounted for 10.59%.
September 5, Sunshine Lighting held 2017.5 annual live performance statement, the participants for the general manager of Mr. Guanyong, director of finance Zhou Yamei Ms. Zhao Fanghua, Secretary of the Board of directors and some of the company's shareholders and institutional investors.
The performance statement will be the company's board secretary, Mr. Zhao Fanghua first introduced the company's 2017.5 Annual report related situation, followed by the company's operation of the question and answer link. Specific questions and answers are as follows:
Q: What is the trend in the future led industry?
Answer: From the lighting industry overall shipments, more than 80% of all LED lighting products. From the point of view of replacement, penetration rate is only 20%-30%, three years the industry has not reached the bottleneck, the concentration of the industry will gradually improve.
Q: What measures does the company have in brand promotion and channel construction?
A: At present, in the promotion of brands in increasing the development of independent brands, like the Australian market that grew well last year, almost half of the business is owned by the brand, but there is also the problem of competition with OEM customers, but we still focus on the same as the independent business adjustment, so this year, Oceania business has a big adjustment. U.S. subsidiaries this year we have to increase capital, continue to increase the investment in engineering channels, because this business development of its own brand than the retail channel is less difficult, including our France, Germany, the newly established companies are to develop independent brand business. Domestic sales, the future focus is on the establishment of strategic partnership between real estate developers, large decoration companies, gradually landing projects, expand the residential area of channels.
Q: What are the main causes of the decrease in the level of lamp gross profit? Is the bargaining power weak? How often do you negotiate with your customers?
A: The increase in the price of lamps and lanterns is more obvious, such as packaging, housing plastic parts and hardware, and so on, the cost rises more than the light source. This year, the material rise in a larger range, slightly beyond the company's expectations, and customer bargaining will lag, mainly in the cost of rising pressure, depending on the company's cost tolerance, and then negotiate with customers.
Q: The first half of the year led sales growth is about how much? What is the main reason for the first half income growth is lower than the early budget?
A: Led sales grew by more than 60%, but sales rose 22%, so the price fell by about 25%, more than the 15% decline in the year's budget, which led to lower revenue growth than the early budget.
Q: The company reported this year due to accounting policy adjustments affected more than 12 million, if last year also according to the new accounting policy standards, last year, the amount of other synthetic income estimated how much?
A: This part of the company's government subsidy is deferred income, 10 years amortization, because there is no new big government subsidy in this year, so even last year, in accordance with the new accounting policy adjustment, the amount of other comprehensive income recorded last year is estimated to be similar to this year.
Q: In the past few years, the company's income from operating outside the government subsidy is about 50 million yuan? Will this part of the subsidy continue in the future?
A: The government subsidy in external revenue, mainly from the local government tax return income, in the next few years will be, but the specific amount may gradually decrease as the year increases.
Q: 2016, the company plans to reduce the value of various assets to prepare more than 90 million, this year what will happen?
A: Since this year, the amount of energy-saving lamps have been very small, if there is a mention, more is LED equipment, we will do the book value and market price test, if there is impairment, still accounting, but this year the overall will be much less than last year.
Q: Many of the companies doing foundry lighting gradually listed, for the competitive structure of the foundry how to look at?
A: At present, part of our business is OEM, part of the domestic sales, domestic sales including engineering and furniture. The listed companies do the works mainly for the three-male aurora and NVC lighting; The furniture part is similar to the OP illumination, a piece is similar to the lighting of Foshan, the foundry mainly has the Shanghai yaming and Pettibone illumination under the Flying music stereo. The company's business is relatively complex, the overall and Pettibone lighting is more similar, but larger than him. So each company specializes in the field or there is a difference, with the industry concentration of the rise, the advantages of large enterprises show up, and small enterprises shut down more obvious, large enterprises in the foundry market or there is a rise in space. Companies in the domestic production needs to increase the strength, because the base is relatively small so the rise in space is very large.
Q: The company is operating cash flow is very good, but from the capital operation look a bit conservative, what is the company's consideration?
A: The company is concerned about the industry's capital operation changes, but the current good target is difficult to obtain, the company in the industrial layout or focus on the expansion of channels, including engineering lighting, commercial lighting and other fields. The second half of the company also launched overseas mergers and acquisitions, but not yet disclosed.
Q: What measures are available for the introduction of talent at present?
A: Since this year, our recruitment is no longer limited to the introduction of Shangyu, many marketing professionals are recruited from abroad, such as the United States, Germany. Technical personnel recruitment is more difficult, the company has set up in Shanghai and Hangzhou Research and Development Center, the introduction of talent is relatively easy.
Q: Where is the focus of the company in the next few years?
A: In the next few years the company's focus is still in the lighting industry, of course, from the product category will focus on improving the proportion of lamps.
Q: What are the company's next steps in motivating employees? Will the group level Employee incentive plan be considered?
A: At present the company's business is mainly concentrated in the subsidiary, the subsidiary level has completed the stage of equity incentive, each subsidiary's management team holds 5% of the equity ratio, for the group level of equity incentive companies will further study.