High-tech LED network message / special correspondent Xiao Yuan
The good days of the rapid growth of Sanan Optoelectronics (600703.SH), a leading domestic LED company, continue.
After one month of releasing the 2010 financial report with a profit of 419 million yuan, Sanan Optoelectronics announced again on February 28 that the first phase of the Wuhu Optoelectronics Industrialization Phase of Anhui Sanan Optoelectronics Co., Ltd., a wholly-owned subsidiary of the company, has started production. It will have certain impact on the company's 2011 annual results and subsequent development.
A few days ago, Anhui Sanan Optoelectronics also received a subsidy of 60 million yuan from 8 MOCVD equipment granted by the People's Government of Wuhu City, Anhui Province.
A series of good news, let Sanan Optoelectronics continue to stage the "Buffalo" style. On February 27, Sanan Optoelectronics closed at 47.98 yuan, an increase of 9.44% compared with the low of 43.84 yuan on January 19.
In fact, the capital market's recognition of Sanan Optoelectronics is based on the Tianjin Sanan Optoelectronics LED industrialization project funded by Sanan Optoelectronics in 2009. In the same year after the second half of last year, it achieved a profit of 40.1 million yuan. The market has given higher expectations to Anhui Sanan Optoelectronics; on the other hand, it is based on the optimization of Sanan Optoelectronics' revenue structure. The proportion of LED application products in the proportion of total revenue has rapidly climbed to nearly 30%.
What's more, Sanan Optoelectronics held a large order of 350 million yuan LED street lights in Wuhu and Huainan in 2011.
Great changes in income structure
According to the financial report, in 2010, Sanan Optoelectronics' operating income was 863 million yuan, a year-on-year increase of 83.42%, and net profit was 419 million yuan, a year-on-year increase of 132.73%. Even after deducting the net profit of non-recurring gains and losses including government subsidies of 253 million yuan, it still reached 239 million yuan, an increase of 91.07%. The overall gross profit margin of the company increased by 12.79 percentage points to 47.39%.
It is worth noting that in 2010, Sanan Optoelectronics chip sales revenue was 591 million yuan, up 46.26% year-on-year; the gross profit margin of chip products increased from 32.05% in 2009 to 46.26%, a full increase of 14.21 percentage points. The revenue of LED application products soared to 223 million yuan, an increase of 563.86% year-on-year, and the gross profit margin of products was still as high as 40.28%.
Due to the explosion in the revenue of LED application products, the income structure of Sanan Optoelectronics has undergone tremendous changes in 2010. The proportion of chip revenue to total revenue decreased from 90% in 2009 to 69%; the revenue of LED application products rose to 26%, which not only became a new profitable person of Sanan Optoelectronics, but also strengthened Sanan Optoelectronics' domestic LED industry chain. Leading position in the middle.
The board of directors of Sanan Optoelectronics said that this year will focus on strengthening the layout of the LED industry chain, and actively participate in the industrial strategic cooperation between the upstream and downstream well-known enterprise alliances at home and abroad to ensure the company's main raw materials supply and stable sales channels.
On February 17, Taiwan’s “Economic Daily†reported that Sanan Optoelectronics will invest in Taiwan. The first phase plans to invest NT$50 million by the end of this year to set up an operation base and display center in Taipei Nangang Software Park to become the cross-strait economy. After the signing of the Cooperation Framework Agreement (ECFA), the first land-based indicator-type photovoltaic enterprise to operate in Taiwan. Xu Binghong, general manager of Sanan Optoelectronics Group and director of overseas marketing, said that Taiwan is a very important component supply area for Sanan Optoelectronics Group. More than 85% of its purchases come from Taiwan. This trip hopes to strengthen cooperation with Taiwanese companies in R&D, production and sales. Cooperation.
It is reported that Sanan Optoelectronics' top five partners in Taiwan include Taiwan Jingmei, Yiguang, Hongqi, AUO, Wangsil Technology and other companies, producing a variety of LED lighting appliances, TV, notebook computer backlights and other applications.
Local government demand
Sanan Optoelectronics' investment in Taiwan may be mainly based on strategic layout, which will not directly affect the company's revenue in the short term. From the information revealed by Sanan Optoelectronics, the focus of Sanan Optoelectronics this year is how to fully rely on the national “Twelfth Five-Year Plan†policy to grasp the needs of local governments to actively develop new energy industries and energy conservation and emission reduction. This is also the cornerstone of Sanan Optoelectronics' rapid growth in 2010.
The financial report shows that Sanan Optoelectronics signed an investment agreement with the Wuhu Municipal People's Government of Anhui Province, stipulating that Wuhu Municipal Government will grant Sanan Optoelectronics to purchase 200 MOCVD equipment subsidies. Among them, red and yellow MOCVD subsidies of 8 million yuan each, blue-green MOCVD each The subsidy is 10 million yuan. However, last year, Wuhu City also raised the subsidy for each MOVCD, up 20%, resulting in equipment subsidies received by Sanan Optoelectronics amounted to 525 million yuan.
In addition, because of the investment in the LED project in Wuhu, Sanan Optoelectronics has received an order for 600 million LED street lights in Wuhu. The Wuhu City Housing and Urban-Rural Development Committee purchased 200 million LEDs from Sanan Optoelectronics every year in 2010, 2011 and 2012. Street light. I believe this is the root cause of Sanan Optoelectronics' LED application revenue last year reached 223 million yuan and gross profit margin as high as 40.28%.
A somewhat alternative business model is also replicated in other cities. In December last year, Sanan Optoelectronics announced that Rixin Photovoltaic Co., Ltd., a joint venture with EMCORE Corporation of the United States, was selected to locate the Huainan Economic and Technological Development Zone in Anhui. The project plans to build an annual output of 1000MW photovoltaic systems and components with a total investment of 8 billion yuan. The construction period is 5 years and will be constructed in three phases. The first phase of the annual production of photovoltaic system and module 200MW production line will be completed and put into operation at the end of 2011. The Huainan Municipal People's Government will provide Nisshin Photovoltaic Co., Ltd. with two phases of project industrial land of not less than 1600 mu and financial subsidies of 500 million yuan, and subsidies of 1.4 yuan per product for sale of 1 yuan, and subsidies of no more than 1.4 billion yuan. Series of preferential policies.
In addition, as an additional condition for investing in Huainan City, Huainan City also promised to purchase 450 yuan of LED street lamps from Sanan Optoelectronics within 3 years, and purchase 150 million yuan each year. And this also means that Sanan Optoelectronics' 2011 LED street light orders are only 350 million yuan in the two markets of Wuhu and Huainan.
The good days of the rapid growth of Sanan Optoelectronics (600703.SH), a leading domestic LED company, continue.
After one month of releasing the 2010 financial report with a profit of 419 million yuan, Sanan Optoelectronics announced again on February 28 that the first phase of the Wuhu Optoelectronics Industrialization Phase of Anhui Sanan Optoelectronics Co., Ltd., a wholly-owned subsidiary of the company, has started production. It will have certain impact on the company's 2011 annual results and subsequent development.
A few days ago, Anhui Sanan Optoelectronics also received a subsidy of 60 million yuan from 8 MOCVD equipment granted by the People's Government of Wuhu City, Anhui Province.
A series of good news, let Sanan Optoelectronics continue to stage the "Buffalo" style. On February 27, Sanan Optoelectronics closed at 47.98 yuan, an increase of 9.44% compared with the low of 43.84 yuan on January 19.
In fact, the capital market's recognition of Sanan Optoelectronics is based on the Tianjin Sanan Optoelectronics LED industrialization project funded by Sanan Optoelectronics in 2009. In the same year after the second half of last year, it achieved a profit of 40.1 million yuan. The market has given higher expectations to Anhui Sanan Optoelectronics; on the other hand, it is based on the optimization of Sanan Optoelectronics' revenue structure. The proportion of LED application products in the proportion of total revenue has rapidly climbed to nearly 30%.
What's more, Sanan Optoelectronics held a large order of 350 million yuan LED street lights in Wuhu and Huainan in 2011.
Great changes in income structure
According to the financial report, in 2010, Sanan Optoelectronics' operating income was 863 million yuan, a year-on-year increase of 83.42%, and net profit was 419 million yuan, a year-on-year increase of 132.73%. Even after deducting the net profit of non-recurring gains and losses including government subsidies of 253 million yuan, it still reached 239 million yuan, an increase of 91.07%. The overall gross profit margin of the company increased by 12.79 percentage points to 47.39%.
It is worth noting that in 2010, Sanan Optoelectronics chip sales revenue was 591 million yuan, up 46.26% year-on-year; the gross profit margin of chip products increased from 32.05% in 2009 to 46.26%, a full increase of 14.21 percentage points. The revenue of LED application products soared to 223 million yuan, an increase of 563.86% year-on-year, and the gross profit margin of products was still as high as 40.28%.
Due to the explosion in the revenue of LED application products, the income structure of Sanan Optoelectronics has undergone tremendous changes in 2010. The proportion of chip revenue to total revenue decreased from 90% in 2009 to 69%; the revenue of LED application products rose to 26%, which not only became a new profitable person of Sanan Optoelectronics, but also strengthened Sanan Optoelectronics' domestic LED industry chain. Leading position in the middle.
The board of directors of Sanan Optoelectronics said that this year will focus on strengthening the layout of the LED industry chain, and actively participate in the industrial strategic cooperation between the upstream and downstream well-known enterprise alliances at home and abroad to ensure the company's main raw materials supply and stable sales channels.
On February 17, Taiwan’s “Economic Daily†reported that Sanan Optoelectronics will invest in Taiwan. The first phase plans to invest NT$50 million by the end of this year to set up an operation base and display center in Taipei Nangang Software Park to become the cross-strait economy. After the signing of the Cooperation Framework Agreement (ECFA), the first land-based indicator-type photovoltaic enterprise to operate in Taiwan. Xu Binghong, general manager of Sanan Optoelectronics Group and director of overseas marketing, said that Taiwan is a very important component supply area for Sanan Optoelectronics Group. More than 85% of its purchases come from Taiwan. This trip hopes to strengthen cooperation with Taiwanese companies in R&D, production and sales. Cooperation.
It is reported that Sanan Optoelectronics' top five partners in Taiwan include Taiwan Jingmei, Yiguang, Hongqi, AUO, Wangsil Technology and other companies, producing a variety of LED lighting appliances, TV, notebook computer backlights and other applications.
Local government demand
Sanan Optoelectronics' investment in Taiwan may be mainly based on strategic layout, which will not directly affect the company's revenue in the short term. From the information revealed by Sanan Optoelectronics, the focus of Sanan Optoelectronics this year is how to fully rely on the national “Twelfth Five-Year Plan†policy to grasp the needs of local governments to actively develop new energy industries and energy conservation and emission reduction. This is also the cornerstone of Sanan Optoelectronics' rapid growth in 2010.
The financial report shows that Sanan Optoelectronics signed an investment agreement with the Wuhu Municipal People's Government of Anhui Province, stipulating that Wuhu Municipal Government will grant Sanan Optoelectronics to purchase 200 MOCVD equipment subsidies. Among them, red and yellow MOCVD subsidies of 8 million yuan each, blue-green MOCVD each The subsidy is 10 million yuan. However, last year, Wuhu City also raised the subsidy for each MOVCD, up 20%, resulting in equipment subsidies received by Sanan Optoelectronics amounted to 525 million yuan.
In addition, because of the investment in the LED project in Wuhu, Sanan Optoelectronics has received an order for 600 million LED street lights in Wuhu. The Wuhu City Housing and Urban-Rural Development Committee purchased 200 million LEDs from Sanan Optoelectronics every year in 2010, 2011 and 2012. Street light. I believe this is the root cause of Sanan Optoelectronics' LED application revenue last year reached 223 million yuan and gross profit margin as high as 40.28%.
A somewhat alternative business model is also replicated in other cities. In December last year, Sanan Optoelectronics announced that Rixin Photovoltaic Co., Ltd., a joint venture with EMCORE Corporation of the United States, was selected to locate the Huainan Economic and Technological Development Zone in Anhui. The project plans to build an annual output of 1000MW photovoltaic systems and components with a total investment of 8 billion yuan. The construction period is 5 years and will be constructed in three phases. The first phase of the annual production of photovoltaic system and module 200MW production line will be completed and put into operation at the end of 2011. The Huainan Municipal People's Government will provide Nisshin Photovoltaic Co., Ltd. with two phases of project industrial land of not less than 1600 mu and financial subsidies of 500 million yuan, and subsidies of 1.4 yuan per product for sale of 1 yuan, and subsidies of no more than 1.4 billion yuan. Series of preferential policies.
In addition, as an additional condition for investing in Huainan City, Huainan City also promised to purchase 450 yuan of LED street lamps from Sanan Optoelectronics within 3 years, and purchase 150 million yuan each year. And this also means that Sanan Optoelectronics' 2011 LED street light orders are only 350 million yuan in the two markets of Wuhu and Huainan.
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