Recently, numerous LED-listed companies have unveiled their first-half performance previews for this year. Based on high-tech LED tracking observations, the majority of these firms have seen significant improvements in their performance, while only a handful have experienced a downturn in the first half of the year.
Today, five LED-listed companies—Overclocking Three, Dehao Runda, Ruifeng Optoelectronics, Tailong Lighting, and Snowlight—have released their first-half performance forecasts. Surprisingly, three of them—Shelley, Overclocking III, and Dehao Runda—are experiencing varying degrees of decline. What could be the reason behind this?
Tailong Lighting Expects First-Half Net Profit Increase by 11%-28%
Tailong Lighting has released its performance forecast. The company anticipates that the net profit attributable to shareholders of listed companies from January to June 2017 will range between 12.30 million and 14.45 million yuan, representing a year-on-year change of 11.00% to 28.00%.
The company attributes this outlook to the following factors:
1. During the reporting period, the scale of production and sales of the company’s core business products increased year-on-year. Additionally, the company enhanced cost control measures and reduced various expenditures, leading to an increase in net profit compared to the same period last year.
2. During the reporting period, the impact of non-recurring gains and losses on net profit is expected to fall between 100,000 and 200,000 yuan.
Ruifeng Optoelectronics Sees First-Half Net Profit Surge by 80%-100%
Ruifeng Optoelectronics has also released a performance forecast. The company expects the net profit attributable to shareholders of listed companies from January to June 2017 to be between 42.664 million and 47.384 million yuan, representing a year-on-year change of 80.00% to 100.00%.
The company provides the following reasoning:
1. In the first half of 2017, the LED industry landscape and development trends have been favorable. Industry concentration is rising, and the company’s technological and service advantages are becoming more prominent. All major businesses are surpassing targets, with vehicle lighting, filament, and UV segments driving new growth. This has caused the company’s net profit to grow rapidly in the first half of the year. Furthermore, non-recurring gains and losses have also contributed to the company's profit growth.
2. During the reporting period, the company’s non-recurring gains and losses are estimated to reach 22 million yuan, primarily due to research and development project subsidies and industrial project grants.
Overclocking 3 Forecasts Semi-Annual Net Profit Drop by 10%-0%
Overclocking 3 has released its performance forecast. The company expects the net profit attributable to shareholders of listed companies from January to June 2017 to be between 20,325,900 and 22,614,300 yuan, representing a year-on-year change of -10.00% to 0.00%.
The company explains this forecast as follows:
From January to June 2017, the company’s main business revenue and product sales gross profit margin remained stable compared to the same period in 2016. However, due to the gradual relocation of the production lines of Meiwanjia and Zhenrong branches to the Huizhou production base in the second quarter of 2017, along with expenses related to the initial public offering and other activities, the company’s short-term management costs increased, causing a slight decrease in net profit compared to the same period last year. By June 30, 2017, the production lines of the two branches had been relocated and production capacity restored, which will not significantly affect the company’s future performance.
Snowlight Expects Semi-Annual Net Profit Drop by 30%-10% Year-On-Year
Snowlight has also issued a performance forecast. The company expects the net profit attributable to shareholders of listed companies from January to June 2017 to be between 13.13 million and 20.591 million yuan, representing a year-on-year change of -30.00% to 10.00%.
The company bases this prediction on the following reasons: It is due to the increase in the company’s financing scale from financial institutions and the rise in financial expenses during the reporting period.
Dehao Runda Predicts a Loss of 60 Million to 70 Million in the First Half of the Year
Dehao Runda has issued a performance forecast. The company expects the net profit attributable to shareholders of listed companies from January to June 2017 to be between -70 million and -60 million yuan, representing a year-on-year change of -536.51% to -474.15%.
The company provides the following explanations:
1. During the reporting period, the company’s LED and small household appliance businesses maintained a relatively stable development, with operating income increasing by about 13% year-on-year and gross profit margin increasing by about 0.3% year-on-year;
2. During the reporting period, financial expenses increased by approximately 130 million yuan year-on-year, mainly due to an exchange loss of approximately 75 million yuan caused by the appreciation of the RMB. Last year during the same period, there were foreign exchange gains of 49,127,400 yuan due to RMB depreciation.
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