Decorative lighting manufacturer Zhen Mingli (1868) announced its interim results as of June 30 this year, recording a net profit of 83.327 million yuan, an increase of 37.47%, earnings per share of 0.11 yuan, and an interim dividend of 0.027 yuan. The stock price of Zhen Mingli fell 23.59% yesterday, closing at 11.66 yuan, and the transaction surged to 310 million yuan.
Interim earned 83.33 million yuan and increased 37%
During the period, the sales of LED decorative lights of the company's core products increased by 70.1% to 202 million yuan. The sales of traditional lighting products did not fall and rose, increasing by 8% to 152 million yuan. The LED lighting fixtures launched for the first time this year achieved sales of 7.6 million yuan. The total revenue was about 1.5%, but the overall gross profit margin fell by 3.3 percentage points to 34.5%. Executive Director Tang Yiming pointed out that the decline in gross profit was mainly affected by the increase in machine depreciation and the seasonality of product demand. With the increase in sales of high-margin products in the second half of the year, it is believed that the gross profit margin will improve throughout the year.
LED lights will increase to 400 million monthly output next year
Tang Yiming said that energy-saving, environmentally friendly and safe LED replacement incandescent lamps is the trend of the times. The EU and Australia are about to legislate to ban incandescent lamps. The US government has also explicitly requested to promote LED lamps. It is expected that the global market share of LED lamps will reach 55% in 2010. To this end, the company will vigorously increase the production capacity of LED lighting fixtures. The monthly production capacity of its LED bulbs will be 200 million at the end of August (30 million in June last year). The monthly production capacity will increase to 250 million at the end of this year. To 300-400 million per month. In addition, the company's first phase of construction in Vietnam will be launched in the fourth quarter. The company will gradually transfer labor-intensive processes to Vietnam. The local labor price is currently only half of that in Guangdong Province, and the supply is sufficient, and there are coastal ports. Supporting facilities for easy export.
According to Tang Yiming, the contribution of LED products to the company's sales in the first half of the year was 41%, and the second half is expected to account for more than 50% of sales. According to Tang Yiming, the gross profit margin of the company's LED products is higher than 50%, while the traditional lighting is 30%. At the same time, the company is actively preparing to add chip (wafer) production business in Guangdong Province starting next year, changing the current situation of relying entirely on imports from Taiwan and Japan, when the production cost can be saved by 30% to 40%.
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