GLII Comments: In 2012, NVC Lighting LED business achieved revenue of 250 million yuan, and LED revenue accounted for 7.1%. In 2013, NVC Lighting LED business achieved revenue of 740 million yuan, and LED revenue increased to 19.6%. NVC's LED lighting business can be described as a rocket-type development, which should be greatly out of the expectations of many executives, and also verified the view of GLII on the expected development of traditional lighting manufacturers in 2013. In 2013, there were only a handful of LED lighting companies in China, and in 2014, NVC, Sunshine and other lighting manufacturers will be one of them.
On the evening of March 26, NVC Lighting (02222, HK) released its 2013 performance report. The report shows that the company's revenue last year was 3.774 billion yuan (RMB, the same below), a year-on-year increase of 6.4%, gross profit was 797 million yuan, an increase of 4.7%. However, due to the significant drop in administrative expenses and other expenses, the company's net profit achieved a 28-fold increase, reaching 245 million yuan.
It is worth noting that the LED business is not as profitable as traditional lighting products. NVC Lighting revealed in the report that the price of LED lighting is prevalent, and the profitability of LED products is lower than that of traditional lighting products.
Last year, a substantial decline in management fees
According to the 2013 performance report released by NVC Lighting, there has not been a large increase in revenue. However, the reporter noted that NVC Lighting's trade receivables last year was 1.16 billion yuan, compared with 711 million yuan in 2012, an increase of more than 60%. In addition, NVC Lighting's net profit performance is eye-catching, with a profit of 245 million yuan in 2013, a 28-fold increase over the same period last year.
The reporter learned that the reason why the company's net profit can have such a high increase is related to the significant drop in management fees and other expenses.
In 2013, the management fee for NVC Lighting was 259 million yuan, and in 2012 this cost was 316 million yuan. Under other expense subjects, NVC Lighting's data for 2013 was 2.618 million yuan, compared with 231 million yuan in 2012. It is understood that other expenses mainly include loss of assets, loss of property, plant, equipment and waste, and donation expenses.
In the 2012 performance report, NVC Lighting explained that other expenses have increased significantly. During the reporting period, the significant increase in other expenses of the company during the same period was mainly due to the impairment loss of 2.2 caused by the Group's acquisition of WorldCom and its wholly-owned subsidiaries in 2008. 100 million yuan.
WorldCom refers to WorldCom Investment Co., Ltd., which was established in August 2005 in the British Virgin Islands. In order to strengthen the layout of the energy-saving lamp project, NVC Lighting acquired the company and its subsidiaries.
For the specific circumstances of the fee changes, the "Daily Economic News" reporter yesterday (March 27) contacted the relevant person of NVC Lighting Securities, but did not receive a response.
LED market price war is fierce
As a traditional lighting company, NVC Lighting has increased its layout in the LED field in the past two years. In 2013, the company's revenue from LED lighting products reached 741 million yuan, accounting for 19.6% of total revenue.
In its 2013 performance report, NVC Lighting stated that with the concept of energy conservation and environmental protection being deeply rooted in the hearts of the people, the green property of LED lighting has been widely accepted by the market. With the sharp decline in the price of lighting products, the government has vigorously supported and promoted it, and the implementation of the incandescent lamp elimination plan has been gradually implemented. The LED lighting industry has grown significantly in 2013 and is unique in many industries with weak market demand.
According to the data provided by NVC Lighting Performance Report, the company's LED business growth in 2013 reached 197.4%. However, the profitability of the company's LED lighting products currently lags behind traditional lighting products.
NVC Lighting Performance Report shows that the gross profit of the company's LED products last year was 16.4%, but the gross profit margin of some traditional products, such as T4 and T5 brackets was 34.9%, and the gross profit margin of HID light source was 59.9%; only one product of CFL lamps The gross profit margin is lower than LED, which is 15.1%.
NVC Lighting explained that the LED lighting industry is an emerging industry, especially in the lighting application market, with a large number of companies and intense price wars.
Wu Yulin, president of the Foshan Lighting Association, said in an interview with the Daily Economic News that traditional lighting companies are now transforming toward LEDs. In order to increase sales and seize market share, they have to sacrifice profits.
On the evening of March 26, NVC Lighting (02222, HK) released its 2013 performance report. The report shows that the company's revenue last year was 3.774 billion yuan (RMB, the same below), a year-on-year increase of 6.4%, gross profit was 797 million yuan, an increase of 4.7%. However, due to the significant drop in administrative expenses and other expenses, the company's net profit achieved a 28-fold increase, reaching 245 million yuan.
It is worth noting that the LED business is not as profitable as traditional lighting products. NVC Lighting revealed in the report that the price of LED lighting is prevalent, and the profitability of LED products is lower than that of traditional lighting products.
Last year, a substantial decline in management fees
According to the 2013 performance report released by NVC Lighting, there has not been a large increase in revenue. However, the reporter noted that NVC Lighting's trade receivables last year was 1.16 billion yuan, compared with 711 million yuan in 2012, an increase of more than 60%. In addition, NVC Lighting's net profit performance is eye-catching, with a profit of 245 million yuan in 2013, a 28-fold increase over the same period last year.
The reporter learned that the reason why the company's net profit can have such a high increase is related to the significant drop in management fees and other expenses.
In 2013, the management fee for NVC Lighting was 259 million yuan, and in 2012 this cost was 316 million yuan. Under other expense subjects, NVC Lighting's data for 2013 was 2.618 million yuan, compared with 231 million yuan in 2012. It is understood that other expenses mainly include loss of assets, loss of property, plant, equipment and waste, and donation expenses.
In the 2012 performance report, NVC Lighting explained that other expenses have increased significantly. During the reporting period, the significant increase in other expenses of the company during the same period was mainly due to the impairment loss of 2.2 caused by the Group's acquisition of WorldCom and its wholly-owned subsidiaries in 2008. 100 million yuan.
WorldCom refers to WorldCom Investment Co., Ltd., which was established in August 2005 in the British Virgin Islands. In order to strengthen the layout of the energy-saving lamp project, NVC Lighting acquired the company and its subsidiaries.
For the specific circumstances of the fee changes, the "Daily Economic News" reporter yesterday (March 27) contacted the relevant person of NVC Lighting Securities, but did not receive a response.
LED market price war is fierce
As a traditional lighting company, NVC Lighting has increased its layout in the LED field in the past two years. In 2013, the company's revenue from LED lighting products reached 741 million yuan, accounting for 19.6% of total revenue.
In its 2013 performance report, NVC Lighting stated that with the concept of energy conservation and environmental protection being deeply rooted in the hearts of the people, the green property of LED lighting has been widely accepted by the market. With the sharp decline in the price of lighting products, the government has vigorously supported and promoted it, and the implementation of the incandescent lamp elimination plan has been gradually implemented. The LED lighting industry has grown significantly in 2013 and is unique in many industries with weak market demand.
According to the data provided by NVC Lighting Performance Report, the company's LED business growth in 2013 reached 197.4%. However, the profitability of the company's LED lighting products currently lags behind traditional lighting products.
NVC Lighting Performance Report shows that the gross profit of the company's LED products last year was 16.4%, but the gross profit margin of some traditional products, such as T4 and T5 brackets was 34.9%, and the gross profit margin of HID light source was 59.9%; only one product of CFL lamps The gross profit margin is lower than LED, which is 15.1%.
NVC Lighting explained that the LED lighting industry is an emerging industry, especially in the lighting application market, with a large number of companies and intense price wars.
Wu Yulin, president of the Foshan Lighting Association, said in an interview with the Daily Economic News that traditional lighting companies are now transforming toward LEDs. In order to increase sales and seize market share, they have to sacrifice profits.
Electronic components are components of electronic components and small machines and instruments. They are often composed of several parts and can be used in similar products; often refer to certain parts of electrical appliances, radios, instruments and other industries, including capacitors, transistors, General term for electronic devices such as hairspring and spring
Components Sourcing,ADS8168IRHBT,10M50DAF484C8G,Chip,Components Supplier
Huizhou Liandajin Electronic Co., Ltd , https://www.ldjpcb.com