Rectangular lighting application products revenue growth of more than 6 times listed investment projects are basically not effective

[Text / Gaogong LED Zhao Hui] The net amount of funds raised by Changfang Lighting in 2012 was 495 million yuan, of which 198 million yuan was raised in the LED lighting source expansion project, and the LED lighting fixture expansion project invested 65 million yuan. yuan. According to the latest semi-annual report data, as of now, the two fundraising projects have not achieved the expected benefits.

On the evening of August 24, Changfang Lighting (300301.SZ) disclosed the 2015 semi-annual report. The financial report shows that in the first half of the year, the company achieved a total operating income of 610 million yuan, an increase of 33.74% over the same period of the previous year of 456 million yuan; the net profit attributable to shareholders of listed companies was 35.347 million yuan, an increase of 8.60% over the same period of 3,527.19 yuan.

In the first half of 2015, the revenue of the rectangular lighting package and supporting business was 355 million yuan, and the application product revenue was 248 million yuan, accounting for 58.2% of the total revenue.

Rectangular lighting business breakdown table unit: 10,000 yuan

According to the report, the Changfang Lighting subsidiary Huizhou Changfang has officially signed the construction contract and invested in the construction. In 2015, the company will arrange decoration and put into production according to the project construction. The project will be built into a research and development, production and sales. Lighting manufacturing center.

Previously, Changfang Lighting acquired a 60% stake in Kang Mingsheng in cash and in the form of shares. The consolidated statements were completed on April 2015. In terms of rectangular lighting, it is believed that restructuring can promote the company to achieve vertical integration of the industrial chain, complement each other, enhance the proportion of the company's LED lighting application business, give full play to the advantages of the industrial chain, strengthen the cooperation between the company and Kang Mingsheng's production process, and facilitate collaboration. produce. At the same time, it can reduce the intermediate links of product circulation, save transaction costs, and help strengthen the core competitiveness of the company and Kang Mingsheng in the LED industry.

The financial report showed that Kang Mingsheng's net profit for the first half of the year was 2,706,840 yuan.

EMC packaging is also one of the key directions for the first half of the long-party lighting. Rectangular Lighting actively promotes the independent patented products of EMC application package brackets, and has introduced EMC brackets with high heat resistance, UV resistance, high integration, high current and small size.

Recently, Changfang Lighting's fixed-income plan has been accepted by the China Securities Regulatory Commission. It is understood that the non-public offering of A-shares is mainly to invest in lighting energy-saving service projects and supplementary liquidity.

In contrast, the investment project of Changfang Lighting when it was listed in 2012 has not achieved the expected benefits. In the first half of the year, the LED lighting fixtures with a raised fund of RMB 65 million had a loss of RMB 1,159,400. As of the end of June 2015, the accumulated loss was RMB 26,803,300.

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