In 2017, China's leading LED display manufacturer, Lian De, and Zhou Ming reported their financial results, showing significant growth driven by increased shipments of small-pitch LED products. The companies are expecting a rapid growth phase for their high-end small-pitch solutions in 2018. As key suppliers of LED driver ICs, both companies have seen strong demand from major clients. Recently, their stock prices surged, reaching an intraday high of 81.3 yuan, up 3.96% on the day.
The two major clients, Lian De and Zhou Ming, experienced double-digit growth in both revenue and net profit in 2017. Lian De saw its revenue rise by 48.71% and net profit jump by 68.18%, while Zhou Ming recorded a 73.33% increase in revenue and a 65.52% rise in net profit. This growth was fueled not only by strong domestic demand but also by expanding international operations. For example, Lian De signed a new contract worth 10.2 billion yuan in 2017, exceeding its initial forecast of 8.75 billion yuan by 17%. Of this, approximately 275 million yuan came from small-pitch orders, marking a 51% increase. It’s clear that small-pitch LED products are gaining momentum rapidly.
Zhou Ming highlighted the robust global demand for small-pitch LEDs, with sales increasing consistently both domestically and internationally. Both companies are optimistic about the upcoming year, anticipating more international sporting events, large exhibitions, and corporate clients driving demand. Small-pitch LED products are now entering the mid-to-high-end market segment, marking a new growth phase for the industry. Currently, they hold the top position in the global LED driver IC market.
As part of their strategic shift, both companies have moved away from low-margin basic products, with small-pitch LED products now accounting for as much as 70% of their business. This focus on premium offerings has helped them maintain a competitive edge and drive long-term profitability. With continued innovation and expansion into new markets, the future looks bright for these industry leaders.
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