[High-tech LED News] Tongfang shares announced the 2010 annual report: In 2010, the company achieved operating income of 18.258 billion yuan, an increase of 18.65%; net profit attributable to shareholders of listed companies was 480 million yuan, an increase of 36.48%; The stock income was 0.4867 yuan, a year-on-year increase of 35.31%.
Main business income is in line with expectations, but gross profit margin has dropped significantly
The company's semiconductor and lighting industry sales revenues are in line with expectations, but the overall gross profit margin has declined year by year, and semiconductor and lighting gross margins have also fallen sharply.
Due to the increase in long-term total liabilities and the increase in market interest rates, the asset impairment losses fluctuated significantly, mainly due to the provision for bad debts and the increase in impairment provision for fixed assets during the period; This was mainly due to the fact that the company recognized the shares of Runbang and Taisheng International, which were originally calculated based on long-term equity investments, as transactional financial assets. The change in investment income was large, mainly due to the investment income generated from the disposal of equity of BesTV Network Technology Co., Ltd. and Beijing Tongfang E-Commerce Co., Ltd. in the current period. The change in non-operating expenses was mainly due to the loss of external guarantees incurred by Taihao Technology Co., Ltd., a subsidiary of the company, in the current period; the income tax expenses changed significantly, mainly due to the increase in total profit for the period compared with the same period of the previous year.
LED chip manufacturing and application projects have not been profitable
The project plans to invest 800 million yuan for the expansion of high-brightness semiconductor light-emitting diode (LED) chips and high brightness.
The application of LED lighting products in the scale of special landscape lighting.
The main part of the fixed asset investment part of the company's high-brightness light-emitting diode (LED) chip application part was completed and the interior decoration began. By the end of 2010, the project had invested a total of 179,380,400 yuan, achieving a project income of -1,163,460,000 yuan, and the project revenue was lower than expected.
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Main business income is in line with expectations, but gross profit margin has dropped significantly
Comparison of gross profit margin of the company's comprehensive gross profit margin
| year 2010 | Year 2009 | Year 2008 | |
| Gross profit margin | 15.51% | 15.89% | 18.48% |
Semiconductor and lighting industry sales revenue and gross profit margin comparison
| (Unit: 10,000 yuan) | year 2010 | Year 2009 | Year 2008 |
| Sales revenue | 66,764.17 | 65,852.89 | 14,660.25 |
| Gross profit margin | 4.46% | 7.54% | 8.68% |
The company's semiconductor and lighting industry sales revenues are in line with expectations, but the overall gross profit margin has declined year by year, and semiconductor and lighting gross margins have also fallen sharply.
Large changes in financial costs
Due to the increase in long-term total liabilities and the increase in market interest rates, the asset impairment losses fluctuated significantly, mainly due to the provision for bad debts and the increase in impairment provision for fixed assets during the period; This was mainly due to the fact that the company recognized the shares of Runbang and Taisheng International, which were originally calculated based on long-term equity investments, as transactional financial assets. The change in investment income was large, mainly due to the investment income generated from the disposal of equity of BesTV Network Technology Co., Ltd. and Beijing Tongfang E-Commerce Co., Ltd. in the current period. The change in non-operating expenses was mainly due to the loss of external guarantees incurred by Taihao Technology Co., Ltd., a subsidiary of the company, in the current period; the income tax expenses changed significantly, mainly due to the increase in total profit for the period compared with the same period of the previous year.
LED chip manufacturing and application projects have not been profitable
The project plans to invest 800 million yuan for the expansion of high-brightness semiconductor light-emitting diode (LED) chips and high brightness.
The application of LED lighting products in the scale of special landscape lighting.
LED chip manufacturing and application project fundraising
| Project Description | Total investment (ten thousand yuan) | Accumulated investment amount (ten thousand yuan) | Amount not yet invested |
| High-brightness LED chip manufacturing and application industrialization project | 80,000.00 | 54,12.09 | 25,078.91 |
The raised funds promised project investment and income as follows: (Unit: RMB 10,000)
| Committed project name | The amount to be invested in 2010 | Whether to change the project | Actual investment amount for 2010 | Expected return | Income generated in 2010 | Whether it meets the schedule | Whether it meets the expected return |
| High-brightness LED chip manufacturing and application industrialization project | 0 | no | 17,938.04 | 28,265.00 | -1.163.46 | Affected by construction restrictions during the Beijing Olympics, the overall progress was postponed | no |
The main part of the fixed asset investment part of the company's high-brightness light-emitting diode (LED) chip application part was completed and the interior decoration began. By the end of 2010, the project had invested a total of 179,380,400 yuan, achieving a project income of -1,163,460,000 yuan, and the project revenue was lower than expected.
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