The amount of government subsidies received by domestic LED chip manufacturers this year continues to climb.
Yesterday, Dehao Runda (002005.SZ) announced that the company's subsidiary, Dehaohao Optoelectronics Co., Ltd. received a subsidy of 75.8 million yuan from the local government of Anhui Bengbu City on August 4 and 5, which is the local government. Based on the company's investment projects in the local LED optoelectronic industry, it is specifically used to subsidize the construction expenditure of the project.
According to the statistics of the subsidies of all the announcements of this year, Dehao Runda has received a government subsidy of 461 million yuan. However, compared with Sanan Optoelectronics (600703.SH), the 461 million yuan subsidy of Dehao Runda is only a pediatrics. As of yesterday, Sanan Optoelectronics has received government subsidies of 1.345 billion yuan this year. .
Surging performance
The high subsidies directly boosted the performance of domestic LED chips in the first half of the year.
In mid-July, Sanan Optoelectronics and Dehao Runda announced that the company's net profit in the first half of this year will increase by 120% and 380% over the same period last year. Among them, Dehao Runda's net profit for the first half of this year is expected to be between 98.41 million yuan and 109 million yuan, while Sanan Optoelectronics' net profit for the first half of this year may exceed 445 million yuan.
Behind the frenzied growth in performance figures, a significant portion of the subsidies came from local governments to encourage LED chip makers to set up factories and purchase MOCVD equipment locally. Based on this, Sanan Optoelectronics also pointed out in its performance forecast that the increase in the amount of non-recurring profit and loss items is one of the main reasons for the company's net profit growth in the first half of the year.
In contrast, the performance of Ganzhao Optoelectronics (300102.SZ) in the first half of 2011 announced in late July is dwarfed, because government subsidies have not yet been put in place. In the first half of the year, Ganzhao photoelectric revenue was 182 million yuan, a year-on-year increase of only 40.27%, and net profit was 87.87 million yuan, a year-on-year increase of only 45.68%.
“The 16 MOCVD equipments of Yangzhou Super-raised Project will arrive at the Yangzhou subsidiary factory before July 31, 2011. It is expected that the company will receive full subsidy from the government in the second half of the year.†Ganzhao Optoelectronics reported that at the end of September last year, Yangzhou Dry Photoelectric The company signed 16 MOCVD procurement contracts with AIXTRON AG of Germany, with a total contract value of 201 million yuan.
Zhang Xiaofei, dean of the Higher Industrial Research Institute, said that the current subsidy for MOCVD in Yangzhou City is 8 million to 12 million yuan per MOCVD. If it is calculated according to the 50% standard of government subsidized equipment procurement contracts, the company will obtain the second half of the year. The amount of government subsidies will exceed 100 million yuan, which will naturally add a bright stroke to the annual performance of Ganzhao Optoelectronics, especially the increase in net profit.
Under the high subsidy, the bond is still issued.
Local government subsidies can only temporarily whitewash LED chip manufacturers' performance reports for one or two years.
On July 11, Dehao Runda issued a notice stating that the company intends to issue corporate bonds with a bond size of no more than 900 million yuan. The funds raised are intended to repay corporate debt, optimize the company's debt structure and supplement liquidity. Earlier, Dehao Runda just reviewed and approved the 3.5 billion yuan private placement proposal in early June. In October last year, Dehao Runda raised 1.5 billion yuan in the LED project.
“In fact, the key issue of Dehao Runda is that there are problems in talents and technology introduction. The production capacity of MOCVD equipment in place is slow.†An industry veteran pointed out that Dehao Runda’s current business is mainly based on small household appliances. The LED industry is in its infancy and there is currently no output.
DeHao Runda’s 2011 first-quarter earnings report showed that if the government subsidies received in the first quarter were deducted, Dehao Runda actually lost money in the first quarter. More terrible is that as of March 31 this year, Dehao Runda's short-term loans amounted to 948 million yuan, and total current liabilities amounted to 2.385 billion yuan, far higher than the peers of the company and Sanan Optoelectronics.
Kang Wei, director of Huarui Investment, said that at present, the domestic LED industry still lacks core competitiveness, and the government's subsidies and support at this time are much stronger, and there is nothing wrong with it. However, from the perspective of investment, the entire domestic LED industry and market have a great impact on policy orientation, and the future should be developed in a more market-oriented direction.
For Sanan Optoelectronics, Dehao Runda and Ganzhao Optoelectronics, the company's performance and financial status may not be important at present. The key is whether it can quickly debug MOCVD in place and quickly put into production to seize the opportunities in the LED chip market. This also directly led the LED industry to stage a "chasing chaos".
The newspaper learned that more than a dozen engineers of the LED chip department of the company have been dug in the near future. The technicians of Yaweilang Optoelectronics have been “stunned†by a new company. The other party even hired several headhunters to turn to their core technicians. It was lured with lure, and Shanghai Blu-ray, which was originally established earlier in China, had lost more than half of its extension technicians.
Yesterday, Dehao Runda (002005.SZ) announced that the company's subsidiary, Dehaohao Optoelectronics Co., Ltd. received a subsidy of 75.8 million yuan from the local government of Anhui Bengbu City on August 4 and 5, which is the local government. Based on the company's investment projects in the local LED optoelectronic industry, it is specifically used to subsidize the construction expenditure of the project.
According to the statistics of the subsidies of all the announcements of this year, Dehao Runda has received a government subsidy of 461 million yuan. However, compared with Sanan Optoelectronics (600703.SH), the 461 million yuan subsidy of Dehao Runda is only a pediatrics. As of yesterday, Sanan Optoelectronics has received government subsidies of 1.345 billion yuan this year. .
Surging performance
The high subsidies directly boosted the performance of domestic LED chips in the first half of the year.
In mid-July, Sanan Optoelectronics and Dehao Runda announced that the company's net profit in the first half of this year will increase by 120% and 380% over the same period last year. Among them, Dehao Runda's net profit for the first half of this year is expected to be between 98.41 million yuan and 109 million yuan, while Sanan Optoelectronics' net profit for the first half of this year may exceed 445 million yuan.
Behind the frenzied growth in performance figures, a significant portion of the subsidies came from local governments to encourage LED chip makers to set up factories and purchase MOCVD equipment locally. Based on this, Sanan Optoelectronics also pointed out in its performance forecast that the increase in the amount of non-recurring profit and loss items is one of the main reasons for the company's net profit growth in the first half of the year.
In contrast, the performance of Ganzhao Optoelectronics (300102.SZ) in the first half of 2011 announced in late July is dwarfed, because government subsidies have not yet been put in place. In the first half of the year, Ganzhao photoelectric revenue was 182 million yuan, a year-on-year increase of only 40.27%, and net profit was 87.87 million yuan, a year-on-year increase of only 45.68%.
“The 16 MOCVD equipments of Yangzhou Super-raised Project will arrive at the Yangzhou subsidiary factory before July 31, 2011. It is expected that the company will receive full subsidy from the government in the second half of the year.†Ganzhao Optoelectronics reported that at the end of September last year, Yangzhou Dry Photoelectric The company signed 16 MOCVD procurement contracts with AIXTRON AG of Germany, with a total contract value of 201 million yuan.
Zhang Xiaofei, dean of the Higher Industrial Research Institute, said that the current subsidy for MOCVD in Yangzhou City is 8 million to 12 million yuan per MOCVD. If it is calculated according to the 50% standard of government subsidized equipment procurement contracts, the company will obtain the second half of the year. The amount of government subsidies will exceed 100 million yuan, which will naturally add a bright stroke to the annual performance of Ganzhao Optoelectronics, especially the increase in net profit.
Under the high subsidy, the bond is still issued.
Local government subsidies can only temporarily whitewash LED chip manufacturers' performance reports for one or two years.
On July 11, Dehao Runda issued a notice stating that the company intends to issue corporate bonds with a bond size of no more than 900 million yuan. The funds raised are intended to repay corporate debt, optimize the company's debt structure and supplement liquidity. Earlier, Dehao Runda just reviewed and approved the 3.5 billion yuan private placement proposal in early June. In October last year, Dehao Runda raised 1.5 billion yuan in the LED project.
“In fact, the key issue of Dehao Runda is that there are problems in talents and technology introduction. The production capacity of MOCVD equipment in place is slow.†An industry veteran pointed out that Dehao Runda’s current business is mainly based on small household appliances. The LED industry is in its infancy and there is currently no output.
DeHao Runda’s 2011 first-quarter earnings report showed that if the government subsidies received in the first quarter were deducted, Dehao Runda actually lost money in the first quarter. More terrible is that as of March 31 this year, Dehao Runda's short-term loans amounted to 948 million yuan, and total current liabilities amounted to 2.385 billion yuan, far higher than the peers of the company and Sanan Optoelectronics.
Kang Wei, director of Huarui Investment, said that at present, the domestic LED industry still lacks core competitiveness, and the government's subsidies and support at this time are much stronger, and there is nothing wrong with it. However, from the perspective of investment, the entire domestic LED industry and market have a great impact on policy orientation, and the future should be developed in a more market-oriented direction.
For Sanan Optoelectronics, Dehao Runda and Ganzhao Optoelectronics, the company's performance and financial status may not be important at present. The key is whether it can quickly debug MOCVD in place and quickly put into production to seize the opportunities in the LED chip market. This also directly led the LED industry to stage a "chasing chaos".
The newspaper learned that more than a dozen engineers of the LED chip department of the company have been dug in the near future. The technicians of Yaweilang Optoelectronics have been “stunned†by a new company. The other party even hired several headhunters to turn to their core technicians. It was lured with lure, and Shanghai Blu-ray, which was originally established earlier in China, had lost more than half of its extension technicians.
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