Government subsidies drastically reduced the performance of Dehao Runda in the first half of the year by nearly 60%

On August 26th, LED upstream chip company Dehao Runda (002005) announced the 2013 interim report. During the reporting period, the company achieved operating income of 1.353 billion yuan, an increase of 10.52%; net profit was 50.501 million yuan, down 59.38 year-on-year. %.

For reasons of declining performance, Dehao Runda said that the overall downturn in the macroeconomic situation has adversely affected the company's operations. However, the "Daily Economic News" reporter noted that the company's semi-annual decline in performance was largely due to the reduction of subsidies this year by nearly 100 million yuan compared with the same period last year.

The first half of the year's performance fell by nearly 60%

On the 26th, Dehao Runda announced the semi-annual report for 2013. According to the company, during the reporting period, Dehao Runda achieved operating income of 1.353 billion yuan, an increase of 10.52% over the same period of the previous year; achieving net profit attributable to shareholders of listed companies 5050.1 Ten thousand yuan, a decrease of 59.38% over the same period of the previous year.

In the first half of the year, Dehao Runda's main business remained unchanged, still maintaining the dual main business pattern of LED and small appliances. For the company's small household appliance business, the company said that in the first half of the year, due to the continued appreciation of the RMB, the economic downturn and the intensified market competition, Dehao Runda's small household appliance business orders declined, and operating income decreased by 20.96% compared with the same period of the previous year.

For the LED business that the company has been actively transforming in recent years, Dehao Runda said that the company's LED business has made great progress this year. The production capacity of the company's chips began to be released in batches. The chip sales reached 168 million yuan, a substantial increase of 536.55% over the same period of last year. Equivalent to last year's sales.

Subsidies decreased by nearly 60% year-on-year

In fact, the LED industry has been far better than the previous two years. Not long ago, the semi-annual report released by upstream chip giant Sanan Optoelectronics (600703) showed that the company's LED chip main business demand is strong.

Dehao Runda also said that its LED business has made great progress, but in the face of investors' transcripts, the performance has fallen sharply. The "Daily Economic News" reporter noted that the reason for this situation is largely due to the old problems of the company and the industry - subsidies.

According to the data, Dehao Runda's government subsidy for the current profit and loss in the middle of 2012 was 154 million yuan, compared with 57.410 million yuan in the first half of this year. Only this data, the difference between the front and back is nearly 100 million yuan, reaching 96.59 million yuan. This problem not only affects the performance of the first half of this year, but actually has an impact on the first three quarters and even this year.

According to the profit forecast of the first three quarters released by the company, the company expects net profit for the first three quarters to be 46.271 million to 80.801 million yuan. It fell 30%~60% year-on-year. For reasons, the company also believes that it is due to factors such as the significant reduction in government subsidies received.

In this regard, the "Daily Economic News" reporter called the company as an investor, the company's relevant staff said that compared to the reduction of subsidies, the company's main business is improving. However, for the current operating rate of the company's MOCVD (LED production equipment), the staff said, "We have 92 furnaces (MOCVD), but only 50 of them are started, and the number of furnaces is six. Cheng, will gradually increase according to market conditions in the future."

( This article is reproduced on the Internet. The texts and opinions expressed in this article have not been confirmed by this site, nor do they represent the position of Gaogong LED . Readers need to verify the relevant content by themselves. )

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