Looking for a bright spot: the self-owned funds reserve nearly 6 billion yuan, Mu Linsen's semi-annual report revenue of 2.087 billion yuan
Mulinsen (002745) released a semi-annual report. In the first half of the year, the company achieved operating income of 2.087 billion yuan, an increase of 4.31% over the same period of the previous year; realized total profit of 182 million yuan, down 33.63% year-on-year; net profit attributable to shareholders of listed companies was 153 million yuan. It fell by 34.13% year-on-year.
In terms of specific business, SMD LED revenue was 1.388 billion yuan, up 23.38% over the same period of last year; the gross profit margin of the product was 22.17%, a slight decrease from the same period of last year, but still at the middle level of the industry; the traditional Lamp LED revenue was 343 million yuan. The gross profit margin of the products was 32.26%, which remained at a high level.
According to the report, after experiencing the general decline in the price of the LED industry chain in 2015, the gross profit is gradually picking up as the price of the product is stable and the cost is decreasing during the reporting period. However, compared with the same period of the first half of last year, the gross profit is still relatively high. Big difference.
In terms of cash flow from operating activities, the balance at the end of the first half of the year was 143 million yuan, an increase of 153.81% over the same period of the previous year, indicating that the company's daily cash flow situation has improved.
Expansion, integration acceleration
During the reporting period, the re-integration and distribution of resources in the LED industry was continuously staged, and the integration of mergers and acquisitions became more and more fierce. In the first half of 2016, the company's fixed-income project supporting funds will be put in place, and the implementation of fund-raising projects in Jiangxi Xinyu and Ji'an production bases will be further expanded. The company's business scale enhances the company's comprehensive competitiveness and ability to resist risks.
Continued capacity expansion will strengthen the company's leading position in the LED packaging business, enhance the company's profitability and overall market competitiveness, and provide a strong guarantee for the company's subsequent development.
At the same time, through the acquisition of the equity of Hong Kong Super Time Lighting (Group) Co., Ltd. and the two capital increase of the development of Jingguang Lighting (Xiamen) Co., Ltd., the company can quickly acquire the technical process and market share of lighting emerging products, and complete the LED industry chain. The upstream extension has enabled the company to maintain strong competitiveness in the fierce competition in the LED industry.
In the first half of the year, Mu Linsen and a consortium of general partners such as strategic investor IDG Capital and Yiwu State-owned Capital Operation Center participated in the bidding for the acquisition of Osram Lighting's business assets. Currently, the bidding is progressing steadily.
At the same time of the semi-annual report, Mulinsen issued an announcement on foreign investment, and plans to invest 5.5 billion yuan to build an annual LED lighting production base of 10 billion yuan in Yiwu.
The data shows that as of the end of the first half of the year, the company's total cash, bank deposits and other monetary funds amounted to 5.967 billion yuan, which provided good financial support for the company's continued market force and industrial mergers and acquisitions.
There are a number of reductions and improvements
In terms of technical reserves, on the basis of the traditional LED packaging process, the company has made a number of innovations in the machine equipment, raw material supply, production process and other aspects of the product, such as custom-made automatic solid crystal for ASM, a world-renowned LED packaging equipment supplier. Machines, wire bonding machines and sealing machines.
In the raw material glue supply, the self-developed high flame-retardant and anti-UV epoxy resin preparation technology enhances the flame retardant performance and UV resistance of LED package products, effectively improves the safety of the products, and makes the company the first in the same industry in China. The enterprises that have obtained the certification of the UL Industry Association of the United States have improved the international competitiveness of the company's products.
The "gold wire change copper wire welding technology" independently researched and developed in the production process process, because the price of copper is lower than gold, and the conductivity and thermal conductivity are better, the cost of the product is greatly reduced.
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