[Text|High- tech LED reporter Zhao Hui] In 2013, the net profit attributable to shareholders of the parent company was 2,174,300 yuan, and the net profit loss after deducting non-recurring gains and losses was 4,397,000 yuan. This is the Sichuan Jiuzhou Optoelectronics just listed on the New Third Board. The 2013 annual performance statement handed over by Science and Technology Co., Ltd. (hereinafter referred to as “Jiuzhou Optoelectronicsâ€).
According to the audit report released by Jiuzhou Optoelectronics (830995), Jiuzhou Optoelectronics realized the main business income of 571.28 million yuan in 2013, an increase of 72.57% compared with 2012. The net profit attributable to shareholders of the parent company was 2,174,300 yuan, a decrease of 46.32% over the same period of last year. .
It is worth noting that Jiuzhou Optoelectronics' net profit after deducting non-recurring gains and losses in 2013 was a loss of 4,397,000 yuan, a decrease of 237.27% over the same period of last year. In 2013, when the demand for the lighting market grew rapidly, the net profit after deducting Africa fell by more than two times and had to be noticed.
In particular, as a LED company with an income of nearly 600 million yuan, the net profit has just exceeded 2 million yuan, and the net profit margin is less than 5‰, which is only 3.81‰.
"Jiuzhou Optoelectronics is mainly based on lighting, and the display and packaging are not large." Industry insiders familiar with LED told the "High-tech LED" reporter that the scale Jiuzhou photoelectric computing is a first-line enterprise, but profitability It’s so weak that I didn’t expect it.
According to the "Audit Report" released by Jiuzhou Optoelectronics, the revenue of lighting products in 2013 was 35,754,400 yuan, the revenue of packaging and display was 75,498,700 yuan, and the income of lighting engineering was 1,360,700 yuan. The fastest growing revenue was lighting revenue. , an increase of 194.54% over the same period of last year, lighting products accounted for 62.92% of total revenue.
However, it is the gross profit margin of lighting products that accounted for 60% of the total revenue is obviously too low. In 2013, the gross profit margin of lighting products was only 11.85%, which was 3 percentage points lower than the gross profit margin of 14.84 in 2012.
The overall gross profit margin of the package and display is as low as 6.81%, which is much lower than the average gross profit level of the general display companies.
According to the latest semi-annual report of LED listed companies, Zhouming Technology, which is similar to Jiuzhou's business type, had an overall gross profit margin of 29.73% in the first half of 2014 and a gross margin of 19.15% in lighting products.
At the same time, from the annual report data released by Jiuzhou Optoelectronics, Jiuzhou Optoelectronics still has the problem of excessive accounts receivable. As of the end of 2013, the balance of accounts receivable of Jiuzhou Optoelectronics was 31,142,260 yuan, accounting for the main income of the year. 54.64%, which also led to a low cash flow from business activities, only 1.137 million yuan.
In the "Public Transfer Instructions" announced by Jiuzhou Optoelectronics, the risk of collection of accounts receivable was also drunk with a warning. "At the end of 2013, the company's accounts receivable increased by 47.77% compared with the end of 2012, with the company's future business scale. Expanded, accounts receivable may increase year by year, and the company still has the risk of unforeseen bad debt losses arising from the inability to recover receivables."
According to the audit report released by Jiuzhou Optoelectronics (830995), Jiuzhou Optoelectronics realized the main business income of 571.28 million yuan in 2013, an increase of 72.57% compared with 2012. The net profit attributable to shareholders of the parent company was 2,174,300 yuan, a decrease of 46.32% over the same period of last year. .
It is worth noting that Jiuzhou Optoelectronics' net profit after deducting non-recurring gains and losses in 2013 was a loss of 4,397,000 yuan, a decrease of 237.27% over the same period of last year. In 2013, when the demand for the lighting market grew rapidly, the net profit after deducting Africa fell by more than two times and had to be noticed.
In particular, as a LED company with an income of nearly 600 million yuan, the net profit has just exceeded 2 million yuan, and the net profit margin is less than 5‰, which is only 3.81‰.
"Jiuzhou Optoelectronics is mainly based on lighting, and the display and packaging are not large." Industry insiders familiar with LED told the "High-tech LED" reporter that the scale Jiuzhou photoelectric computing is a first-line enterprise, but profitability It’s so weak that I didn’t expect it.
According to the "Audit Report" released by Jiuzhou Optoelectronics, the revenue of lighting products in 2013 was 35,754,400 yuan, the revenue of packaging and display was 75,498,700 yuan, and the income of lighting engineering was 1,360,700 yuan. The fastest growing revenue was lighting revenue. , an increase of 194.54% over the same period of last year, lighting products accounted for 62.92% of total revenue.
However, it is the gross profit margin of lighting products that accounted for 60% of the total revenue is obviously too low. In 2013, the gross profit margin of lighting products was only 11.85%, which was 3 percentage points lower than the gross profit margin of 14.84 in 2012.
The overall gross profit margin of the package and display is as low as 6.81%, which is much lower than the average gross profit level of the general display companies.
According to the latest semi-annual report of LED listed companies, Zhouming Technology, which is similar to Jiuzhou's business type, had an overall gross profit margin of 29.73% in the first half of 2014 and a gross margin of 19.15% in lighting products.
At the same time, from the annual report data released by Jiuzhou Optoelectronics, Jiuzhou Optoelectronics still has the problem of excessive accounts receivable. As of the end of 2013, the balance of accounts receivable of Jiuzhou Optoelectronics was 31,142,260 yuan, accounting for the main income of the year. 54.64%, which also led to a low cash flow from business activities, only 1.137 million yuan.
In the "Public Transfer Instructions" announced by Jiuzhou Optoelectronics, the risk of collection of accounts receivable was also drunk with a warning. "At the end of 2013, the company's accounts receivable increased by 47.77% compared with the end of 2012, with the company's future business scale. Expanded, accounts receivable may increase year by year, and the company still has the risk of unforeseen bad debt losses arising from the inability to recover receivables."
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