According to informed sources of sunshine lighting, in terms of energy-saving lamps, the company is now actively removing the list of low gross profit margins, and the annual revenue may fall by more than 20, but the profit for the whole year will not decline, but it is better than expected. It is understood that the company's stock price fell, from June 23 to June 30, the cumulative decline was 8.86. The market worried about the company's uncertainty in the second quarter and other factors, leading to abnormal performance in the secondary market in the near future. The above-mentioned people said that June 23 was the company's share-issuing date. Some structured private-equity products encountered a loss line, which led to selling. In the afternoon, there were mainly public funds to follow the market, and the transaction volume was not very large. Although Philips' energy-saving orders are now falling, and the low gross margin single-subsidiary company does not pick up, if it is based on the current momentum, it is better than expected at the beginning of the year. In the second quarter, the energy-saving lamps fell more than expected. The insiders revealed that from the second quarter of this year, the income of traditional products fell more than expected. The energy-saving lamps in April-May fell faster, and the income will be worse than expected. The above-mentioned people said that the decline in the share of energy-saving lamps this year will lead to a decline in revenue in the short term, but profits will not have much impact. In the past, incandescent lamps were replaced by energy-saving lamps. The penetration of energy-saving lamps was driven by factors such as national policy subsidies. Now, due to the excellent performance of LEDs, LED replacement of energy-saving lamps is the general trend and market behavior. A brokerage researcher believes that the stock price fell 8.7 last week, mainly because the market worried that the energy-saving lamps fell more than expected and the company's second-quarter results were lower than expected. The decline of global energy-saving lamps is the trend of the times, and the speed of decline is indeed somewhat unexpected. However, the global demand for lighting has not declined, which only shows that LED shipments are faster and not a bad thing. It is worth noting that from the analysis of the main business in 2013, the proportion of the company's LED lighting products has grown rapidly, and the energy-saving lamp business has declined. The company's main business is integrated electronic energy-saving lamps, energy-saving lamps, LED lighting products, etc. LED lighting products revenue of 983 million yuan, an increase of 170; the integration of electronic energy-saving lamps revenue of 1.54 billion yuan, down 0.06, energy-saving lamps and lanterns revenue 5.7 billion yuan, down 7.91 year-on-year. Among them, LED lighting products have the highest gross profit margin, reaching 24.81. Overseas orders are postponed and government procurement does not affect the annual income. People familiar with the matter said that the first half of the year did not reach the target, mainly due to an overseas customer order. The difference is that overseas customers' orders are delayed by one month, and the estimated order amount is several tens of millions of yuan, which will affect the second quarter report, but will not affect the annual income. A brokerage researcher believes that the company is one of the largest manufacturers of LED light source in China, with scale advantages, short-term fluctuations in orders will not affect the company's competitiveness, optimistic about the company's share continues to increase in the past two years. In addition, the industry believes that the company's current profits are affected by the government's procurement of energy-saving lamps. If the government purchases a large number of energy-saving lamps in the second quarter, it will increase the current cost and drag down the current profits, but will not affect the annual results. . For the government to promote the shipment situation, the insider further confirmed that it will swallow some of the current profits, but will not affect the profit for the whole year. Domestic market business development and growth, customer structure optimization insiders said that this year the company increased its promotion of the domestic market, mainly in two aspects, in the domestic dealers, roadshow LED new products in various regions; in the e-commerce sector, launched in April The Tesco flagship store e-commerce channel will gradually be launched on the E-commerce platform channels such as Jingdong and Amazon. According to the company's data, on the basis of the development of commercial lighting and outdoor lighting in 2013, the company will further strengthen the domestic market business development through the promotion of Sunlight LED brand, home and commercial LED product terminal stores, and LED large customer service projects. The marketing plan invested 100 million yuan. In terms of investment in e-commerce channels, in March, people familiar with the matter revealed that the company will add e-commerce channels in China this year, with a planned investment of 10-20 million yuan. The purpose of setting up e-commerce channels is mainly to develop its own brands. In addition, in the future, it will be optimized in terms of channel and customer structure. In December last year, Toshiba became a customer of the company and is currently working hard to expand other customers. In January this year, due to the expansion of overseas market and the development of independent brands, the company’s controlling subsidiary, Xiamen Sunshine Nike Lighting Co., Ltd. invested a total of 1 million Australian dollars to set up a wholly-owned subsidiary Australia Ainite Lighting Co., Ltd. It is understood that the current company's channels include the national promotion of energy-saving lamps national bidding projects, more than 1,000 dealers, engineering channels, etc.; and the company's own development channels, mainly including overseas supermarkets, Philips OEM, non-Philips such as LOWES, Osram , Toshiba, GE, etc.; with the development of e-commerce channels this year, the company's sales channels have become more diversified. The company's 2013 annual operating income was 3.169 billion yuan, a year-on-year increase of 22.22. The net profit attributable to shareholders of listed companies was 232 million yuan, a year-on-year increase of 10.27. The company's first quarter 2014 operating income was 748 million yuan, an increase of 1.465 billion yuan. The net profit attributable to shareholders of listed companies was 80.266 million yuan, a year-on-year increase of 22.39.
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