The gross profit margin of LED lighting products is as high as 24. 81

According to people familiar with sunshine lighting, in terms of energy-saving lamps, the company is now taking the initiative to remove the list with low gross profit margin. The annual income may decline by more than 20, but the annual profit will not decline, instead, it is better than expected. It is understood that the company's share price fell to a limit of 8. From June 23-6. 86. The market is worried about factors such as the company's uncertainty in the second quarter, which has led to abnormal performance in the secondary market in the near future. The above-mentioned person said that June 23 is the company's share delivery date. Some structured private equity products have encountered a loss line, resulting in selling. In the afternoon, there are mainly public funds to follow the trend, and the transaction volume is not very large. Although Philips's energy-saving orders are now declining, and the low gross profit margin companies are not picking up, if the current momentum is seen, it is better than expected at the beginning of the year. In the second quarter, the decline in energy-saving lamps exceeded expectations. Informed sources revealed to the agency that from the second quarter of this year, the income of traditional products fell more than expected, 4- Energy-saving lamps fell faster in May and their income will be worse than expected. The above-mentioned people said that the decline in the share of energy-saving lamps this year will lead to a decline in income in the short term, but profits will not have much impact. In the past, the replacement of incandescent lamps by energy-saving lamps LED to a high penetration rate due to factors such as national policy subsidies. Now, due to the excellent performance of LED, it is the general trend and market behavior for LED to replace energy-saving lamps. A brokerage researcher believes that the stock price fell by 8 last week. 7, mainly because the market is worried that the decline in energy-saving lamps is more than expected and the company's second quarter results are lower than expected. The decline of energy-saving lamps is the general trend, and the rate of decline is indeed somewhat higher than expected; However, the demand for lighting has not declined, which only shows that LED shipments are faster and not a bad thing. It is worth noting that from the analysis of the main business in 2013, the proportion of the company's LED lighting products has increased rapidly, and the energy-saving lamp business has declined. The company's main businesses are integrated electronic energy-saving lamps, energy-saving lamps, LED lighting products, etc. The income of LED lighting products is 9. 5%. 8. 3 billion yuan, up 170 year on year; Integrated electronic energy-saving lamp income 15. 4 billion yuan, down 0. 06, energy-saving lamp income 5. 7. 8 billion yuan, down 7. 91. Among them, the gross profit margin of LED lighting products is high, reaching 24. 81. Delays in overseas orders and government procurement do not affect the annual revenue. People familiar with the matter said that the revenue in the first half of the year did not reach the target, mainly due to a difference in orders from overseas customers. Orders from overseas customers were postponed for one month, it is estimated that the order amount will reach tens of millions of yuan, which will affect the second quarter report, but will not affect the annual income. A brokerage researcher believes that the company is one of the large-scale enterprises in LED light source manufacturing in China. It has scale advantages. Short-term fluctuations in orders will not affect the company's competitiveness. It is optimistic that the company's share will continue to increase in the past two years. In addition, the industry believes that the company's current profits are affected by the government's procurement of energy-saving lamps. If the government purchases a large number of energy-saving lamps in the second quarter, it will increase the current cost and drag down the current profits, but basically it will not affect the full-year performance. For the government to promote shipments, insiders further confirmed that it will devour part of the current profits, but will not affect the full-year profits. The business in the domestic market has developed and expanded, and the customer structure has been optimized. Insiders said that this year the company has increased the promotion of the domestic market, mainly in two aspects. In terms of domestic distributors, various regional roadshows have LED to new products; In terms of e-commerce, Tmall flagship store e-commerce channel was launched in April, and will gradually launch e-commerce platform channels such as Jingdong and Amazon. According to the company's data, on the basis of the development of commercial lighting and outdoor lighting in 2013, through the promotion of sunshine LED brand, the construction of Terminal Stores for household and commercial LED products, and the service of LED major customers and projects, to further strengthen the development of domestic market business, the domestic marketing plan in 2014 will invest 0. 1 billion yuan. In terms of investment in e-commerce channels, in March, people familiar with the matter disclosed to the agency that the company will add new e-commerce channels in China this year and plans to invest 1000- 20 million yuan, the main purpose of setting up e-commerce channels is to develop its own brand. In addition, the channel and customer structure will be optimized in the future. Toshiba became the company's customer in last December and is currently trying to expand other customers; In January this year, due to the expansion of overseas markets and the development of independent brands, Xiamen sunshine Enai Lighting Co. , Ltd. , the company's controlling subsidiary, set up a wholly-owned subsidiary, Australia ainette Lighting Co. , Ltd. , with a cash contribution of 1 million Australian dollars. It is understood that the company's current channels include national promotion of energy-saving lamps, national bidding projects, more than 1000 distributors, engineering channels, etc; As well as the company's own development channels, mainly including overseas supermarkets, Philips OEM, non-Philips such as LOWES, Osram, Toshiba, GE, etc; With the development of e-commerce channels this year, the company's sales channels have become more diversified. The company's annual operating income in 2013 was 31. 6. 9 billion yuan, a year-on-year increase of 22. 22, net profit attributable to shareholders of listed companies is 2. 3. 2 billion yuan, a year-on-year increase of 10. 27. The company's operating income in the first quarter of 2014 was 7. 4. 8 billion yuan, a year-on-year increase of 14. 6. 5 billion yuan, net profit attributable to shareholders of listed companies was 8026. 640 thousand yuan, a year-on-year increase of 22. 39.