[Source: "High-tech LED - Research and Review" June issue / Tang Guirong]
“The newly-invested business has just generated sales, but the initial investment is very large, because the cost of R&D, management, and personnel is very high. Especially the trial cost of new products is very high, but the company’s sales are not yet available.†This is the interpretation of Suzhou Dongshan Precision Manufacturing Co., Ltd. (hereinafter referred to as “Dongshan Precisionâ€, 0023 23 84.SZ), Secretary-General Zhou Guihua’s 2011 lower-than-expected revenue.
Dongshan Precision mainly operates precision sheet metal parts, precision castings and assembly products for communication equipment, new energy, precision machine tool manufacturing and other industries.
On June 9, 2010, two months after the listing of Dongshan Precision, the company announced that it would take over 140 million yuan of super-raised funds to enter the LED industry, another popular project in the field of optoelectronics, set up in Suzhou and Shenzhen respectively. The expected internal rate of return for the two companies, of which the Suzhou project is as high as 194%.
However, in 2011, the domestic LED industry experienced a dilemma of overcapacity, and the average price of products in all links of the industrial chain fell by more than 30%. In 2010, the company invested heavily in the LED industry, but it became a quagmire that dragged down its performance.
According to financial report data, in 2011, the company's total revenue was 1.177 billion yuan, an increase of 33 33.42% compared with last year. However, the net profit was only 66.73 million yuan, a decrease of 26.40%. In the first quarter of 2012, the company's net profit attributable to shareholders of listed companies was 10.09 million yuan, a decrease of 68.18% compared with the same period last year.
“In 2011, the company invested in LED research and development, especially research and development equipment. The investment is about tens of millions of yuan. Like we saw this equipment is an electron microscope purchased by our company last year. It is all imported and probably cost us three. More than one million yuan." Zhou Guihua's words once again showed the company's confidence in the initial investment.
On April 20, 2012, Dongshan Precision released a private placement plan, which plans to raise 1.08 billion yuan, of which 170 million yuan will be invested in the LED project, while the other 900 million yuan will be invested in the traditional main business of the company: Precision Gold pieces and precision castings.
Then, Dongshan Precision is a good news.
First, on May 30, the company announced that it has signed a long-term supply framework agreement for LED lamps with an estimated total amount of RMB 200 million with Jucan Optoelectronics Technology (Suzhou).
Recently, the company announced that it has stopped purchasing SolFocus from the United States. Inc. officially notified the company to purchase a large amount of solar photovoltaic solar panels with a total value of US$17.17 million (equivalent to RMB 10,847.32,200,000). It is expected that December 31, 2012 Completed a few days ago.
On June 15, the company disclosed the winning bid, and the company has been officially recognized as the winning supplier in the Huawei V4 standard antenna competitive evaluation/bidding project. According to the confirmed statistics of the bidding code list, the total amount of successful bidding business is about RMB 61.128 million.
So far, in the past half a month, Dongshan Precision has gained in both traditional business and new business areas.
On June 12, Dongshan Precision adjusted the issue price and the number of issuances due to dividends. However, Dongshan Precision's fundraising project is basically the same as the IPO project two years ago. In the case of an IPO over-raised of 600 million yuan, the IPO project's input and output have not met expectations, and in addition, there will be fluctuations in raw material and product prices. Double risk, the future prospects of Dongshan Precision Emissions Project are worrying.
For Dongshan Precision, which is on the eve of the additional issuance, on the one hand, it is necessary to sign a series of large-amount agreements to raise the stock price in a short period of time. On the other hand, it is necessary to make prompt actions to ensure the investment in the changing situation of the next parade. Confidence in the company's future performance growth.
LED backlight market is not optimistic
In June 2010, Dongshan Precision established a wholly-owned Shenzhen subsidiary to implement the LCD module metal backplane project. In addition, another 80 million yuan was invested with the Chinese natural person Shen Yukang to establish the Suzhou Industrial Park Dorni Optoelectronics Technology Co., Ltd., accounting for 30% of the equity. At the same time, the company cooperated with Shen Mingdong and his nephew Shen Yurong to obtain a direct-type rear-projection LCD TV technology made of LED.
By the end of 2011, the company announced that its LED TV backlights have entered mass production. At the same time, the company has obtained the first batch of LED TV backlight module batch orders (more than 100,000 sets) of TCL Ace Electric Appliances, the order amount is about 35 million yuan, and the product orders are delivered before mid-December 2011.
Up to now, Dongshan precision LED backlight module production line is 3, with an annual production capacity of 4.5 million sets, including 1 line in Suzhou and 2 lines in Shenzhen. The follow-up will continue to expand. It is planned to reach 5 lines by 2013, with annual production capacity. More than 7.5 million sets.
"The LED backlight market is relatively mature. In particular, Japanese and Korean Taiwanese companies have mastered core patents and technologies. China has little room for development in the LED backlight market." A domestic LED backlight manufacturer emphasized to "High-tech LED".
In the early days of LED-backlit TV development, South Korea's Samsung, LG, Japan's Sony, Toshiba, Sharp, Panasonic and other TV giants handed over most of the backlighting business to OEMs in Taiwan.
"There are very few companies in China that do large-size LED backlights, mainly because Taiwan's backlight manufacturers have matured and developed into a certain scale." Liu Guoxu, executive vice president of Yimeixinguang, said that if domestic backlight manufacturers do large-size LED backlights, It is directly competing with Samsung, LG and Taiwan.
“Although there are also mainland companies doing LED backlighting, they have not done well.†Liu Guoxu said that for large-size backlight companies, the most important thing is to have long-term cooperation with several TV manufacturers. But in fact, in recent years, Konka, TCL, Hisense and other color TV brand manufacturers are also developing their own LED backlight business. Konka is involved in backlight packaging through its participation in Ruifeng. TCL, Great Wall and other companies are working together to solve the problem of backlight supply through joint ventures with Taiwanese companies.
A senior executive of Konka Group said that color TV manufacturers generally rarely purchase LED backlights in consideration of backlight incompatibility.
It is understood that the current gross margin of large-size LED backlights is maintained at around 2 5% -3 5%, while the gross margin of small and medium-sized LED backlights is only 10% -15%. Wang Yujie continued to say that the small and medium size backlight market will not change much in the future, but the future gross profit margin of the medium and large size backlight market will drop to 10%-15%.
"If you have not entered the backlight market in the first half of this year, it will be difficult to enter again in the future, because there are many large companies in Japan, South Korea and Taiwan, and the market is already crowded." Liu Guoxu said.
In fact, there is a potential patent risk in the LED backlight market. Previously, an LED backlight supplier of Chi Mei Optoelectronics suffered huge compensation for infringing the patents of Japanese companies.
"The LED backlight market is mainly dominated by Japanese and Korean companies. In 2009, Taiwan was only authorized by patents to do OEM work for Japanese and Korean companies." Wang Yujie said that international brands show that big manufacturers are very cautious about patent-protected LED backlights. In particular, LED TVs that are delivered to the European and American markets must not use patent-free backlights.
Therefore, most domestic LED backlight manufacturers only accept orders in small quantities. "It is good to maintain several domestic TV manufacturers and get millions of orders every month." A domestic large-size backlight manufacturer expressed helplessness to "High-tech LED".
"After two years, with the improvement of the LED backlight cost-effective solution, the backlight market is very difficult to do." A middle-level of Ruifeng Optoelectronics said that now because the LED backlight is not fully mature, there is still room for growth. However, if domestic companies want to grow bigger in the backlight market, they will not do much.
“The newly-invested business has just generated sales, but the initial investment is very large, because the cost of R&D, management, and personnel is very high. Especially the trial cost of new products is very high, but the company’s sales are not yet available.†This is the interpretation of Suzhou Dongshan Precision Manufacturing Co., Ltd. (hereinafter referred to as “Dongshan Precisionâ€, 0023 23 84.SZ), Secretary-General Zhou Guihua’s 2011 lower-than-expected revenue.
Dongshan Precision mainly operates precision sheet metal parts, precision castings and assembly products for communication equipment, new energy, precision machine tool manufacturing and other industries.
On June 9, 2010, two months after the listing of Dongshan Precision, the company announced that it would take over 140 million yuan of super-raised funds to enter the LED industry, another popular project in the field of optoelectronics, set up in Suzhou and Shenzhen respectively. The expected internal rate of return for the two companies, of which the Suzhou project is as high as 194%.
However, in 2011, the domestic LED industry experienced a dilemma of overcapacity, and the average price of products in all links of the industrial chain fell by more than 30%. In 2010, the company invested heavily in the LED industry, but it became a quagmire that dragged down its performance.
According to financial report data, in 2011, the company's total revenue was 1.177 billion yuan, an increase of 33 33.42% compared with last year. However, the net profit was only 66.73 million yuan, a decrease of 26.40%. In the first quarter of 2012, the company's net profit attributable to shareholders of listed companies was 10.09 million yuan, a decrease of 68.18% compared with the same period last year.
“In 2011, the company invested in LED research and development, especially research and development equipment. The investment is about tens of millions of yuan. Like we saw this equipment is an electron microscope purchased by our company last year. It is all imported and probably cost us three. More than one million yuan." Zhou Guihua's words once again showed the company's confidence in the initial investment.
On April 20, 2012, Dongshan Precision released a private placement plan, which plans to raise 1.08 billion yuan, of which 170 million yuan will be invested in the LED project, while the other 900 million yuan will be invested in the traditional main business of the company: Precision Gold pieces and precision castings.
Then, Dongshan Precision is a good news.
First, on May 30, the company announced that it has signed a long-term supply framework agreement for LED lamps with an estimated total amount of RMB 200 million with Jucan Optoelectronics Technology (Suzhou).
Recently, the company announced that it has stopped purchasing SolFocus from the United States. Inc. officially notified the company to purchase a large amount of solar photovoltaic solar panels with a total value of US$17.17 million (equivalent to RMB 10,847.32,200,000). It is expected that December 31, 2012 Completed a few days ago.
On June 15, the company disclosed the winning bid, and the company has been officially recognized as the winning supplier in the Huawei V4 standard antenna competitive evaluation/bidding project. According to the confirmed statistics of the bidding code list, the total amount of successful bidding business is about RMB 61.128 million.
So far, in the past half a month, Dongshan Precision has gained in both traditional business and new business areas.
On June 12, Dongshan Precision adjusted the issue price and the number of issuances due to dividends. However, Dongshan Precision's fundraising project is basically the same as the IPO project two years ago. In the case of an IPO over-raised of 600 million yuan, the IPO project's input and output have not met expectations, and in addition, there will be fluctuations in raw material and product prices. Double risk, the future prospects of Dongshan Precision Emissions Project are worrying.
For Dongshan Precision, which is on the eve of the additional issuance, on the one hand, it is necessary to sign a series of large-amount agreements to raise the stock price in a short period of time. On the other hand, it is necessary to make prompt actions to ensure the investment in the changing situation of the next parade. Confidence in the company's future performance growth.
LED backlight market is not optimistic
In June 2010, Dongshan Precision established a wholly-owned Shenzhen subsidiary to implement the LCD module metal backplane project. In addition, another 80 million yuan was invested with the Chinese natural person Shen Yukang to establish the Suzhou Industrial Park Dorni Optoelectronics Technology Co., Ltd., accounting for 30% of the equity. At the same time, the company cooperated with Shen Mingdong and his nephew Shen Yurong to obtain a direct-type rear-projection LCD TV technology made of LED.
By the end of 2011, the company announced that its LED TV backlights have entered mass production. At the same time, the company has obtained the first batch of LED TV backlight module batch orders (more than 100,000 sets) of TCL Ace Electric Appliances, the order amount is about 35 million yuan, and the product orders are delivered before mid-December 2011.
Up to now, Dongshan precision LED backlight module production line is 3, with an annual production capacity of 4.5 million sets, including 1 line in Suzhou and 2 lines in Shenzhen. The follow-up will continue to expand. It is planned to reach 5 lines by 2013, with annual production capacity. More than 7.5 million sets.
"The LED backlight market is relatively mature. In particular, Japanese and Korean Taiwanese companies have mastered core patents and technologies. China has little room for development in the LED backlight market." A domestic LED backlight manufacturer emphasized to "High-tech LED".
In the early days of LED-backlit TV development, South Korea's Samsung, LG, Japan's Sony, Toshiba, Sharp, Panasonic and other TV giants handed over most of the backlighting business to OEMs in Taiwan.
"There are very few companies in China that do large-size LED backlights, mainly because Taiwan's backlight manufacturers have matured and developed into a certain scale." Liu Guoxu, executive vice president of Yimeixinguang, said that if domestic backlight manufacturers do large-size LED backlights, It is directly competing with Samsung, LG and Taiwan.
“Although there are also mainland companies doing LED backlighting, they have not done well.†Liu Guoxu said that for large-size backlight companies, the most important thing is to have long-term cooperation with several TV manufacturers. But in fact, in recent years, Konka, TCL, Hisense and other color TV brand manufacturers are also developing their own LED backlight business. Konka is involved in backlight packaging through its participation in Ruifeng. TCL, Great Wall and other companies are working together to solve the problem of backlight supply through joint ventures with Taiwanese companies.
A senior executive of Konka Group said that color TV manufacturers generally rarely purchase LED backlights in consideration of backlight incompatibility.
It is understood that the current gross margin of large-size LED backlights is maintained at around 2 5% -3 5%, while the gross margin of small and medium-sized LED backlights is only 10% -15%. Wang Yujie continued to say that the small and medium size backlight market will not change much in the future, but the future gross profit margin of the medium and large size backlight market will drop to 10%-15%.
"If you have not entered the backlight market in the first half of this year, it will be difficult to enter again in the future, because there are many large companies in Japan, South Korea and Taiwan, and the market is already crowded." Liu Guoxu said.
In fact, there is a potential patent risk in the LED backlight market. Previously, an LED backlight supplier of Chi Mei Optoelectronics suffered huge compensation for infringing the patents of Japanese companies.
"The LED backlight market is mainly dominated by Japanese and Korean companies. In 2009, Taiwan was only authorized by patents to do OEM work for Japanese and Korean companies." Wang Yujie said that international brands show that big manufacturers are very cautious about patent-protected LED backlights. In particular, LED TVs that are delivered to the European and American markets must not use patent-free backlights.
Therefore, most domestic LED backlight manufacturers only accept orders in small quantities. "It is good to maintain several domestic TV manufacturers and get millions of orders every month." A domestic large-size backlight manufacturer expressed helplessness to "High-tech LED".
"After two years, with the improvement of the LED backlight cost-effective solution, the backlight market is very difficult to do." A middle-level of Ruifeng Optoelectronics said that now because the LED backlight is not fully mature, there is still room for growth. However, if domestic companies want to grow bigger in the backlight market, they will not do much.
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