Summary of 2021 annual results and 2022 first quarter results of 5 listed Chinese LED chip companies

As of today, five LED chip companies, HC semitek, Changelight, Focus Lightings , Shenzhen MTC, and San’an, have disclosed their FY2021 results and Q1 2022 results, which are now compiled and shared with you.

HC Semitek

HC SEMITEK released its 2021 annual report, during which the company achieved operating revenue of 3,156,244,223.67CNY, an increase of 19.37% year-on-year, and net profit attributable to shareholders of the listed company of 93,623,596.06CNY, an increase of 413.29% year-on-year.

The company continues to make strategic adjustments to its product structure, vigorously develop mid- to high-end products, accelerate deep plowing of the new LED application market, and strengthen cooperation with domestic and foreign brand enterprises to maintain the company’s core competitiveness and leading position in the LED field. The company’s Mini RGB direct display product market share continues to maintain industry leadership, and has the ability to ship large quantities of Mini backlight products, has been applied to a number of well-known brand customers flagship display products. micro LED small and medium-sized products and strategic customers to achieve key progress in cooperation, yield rate steadily improved to meet customer system verification requirements; huge transfer technology and equipment and downstream strategic customers Joint development, progressing well. LED chips for plant lighting white light have achieved high volume supply to international famous brands, and the development and marketing application of LED chips for plant lighting red light is also actively carried out. During the reporting period, the company’s profitability improved significantly and further results were achieved in refining management, cost reduction and efficiency enhancement.

HC SEMITEK released a quarterly results announcement, saying that revenue for the first quarter of 2022 was approximately 677 million CNY, a decrease of 4.86% year-on-year; net profit was approximately 7.13 million CNY; basic earnings per share was 0.01CNY; revenue for the same period of the previous year was approximately 711 million CNY; net profit loss was approximately 31.79 million CNY; basic earnings per share was 0.03CNY.

Changelight

Changelight released its 2021 annual report. During the reporting period, the company achieved operating revenue of 1,879,142,370.67CNY, up 42.82% year-on-year; net profit attributable to shareholders of the listed company was 186,838,574.76CNY, turning a loss into a profit compared with the same period of the previous year.

The main reasons for the increase in net profit are: during the reporting period, benefiting from the market rebound in the LED industry, some chip prices rose, the company’s profitability has improved; the company’s Nanchang blue-green chip (Phase I) project production capacity fully released, the three production bases production capacity and product structure continued to optimize, operational efficiency continues to improve, the strong market demand led the company’s production and sales rate, capacity utilization rate is on the rise, resulting in the company As a result, the operating revenue and gross profit margin increased significantly year-on-year, resulting in a year-on-year increase in net profit; benefiting from the improvement in market conditions, the amount of asset impairment losses and credit impairment losses decreased year-on-year, resulting in a year-on-year increase in net profit.

Changelight2022 quarterly report shows that the company’s main revenue is 403 million CNY, down 7.84% year-on-year; net profit attributable to the mother -719.97 million CNY, down 116.66% year-on-year; net profit after deduction -21.1487 million CNY, down 432.05% year-on-year; in the first quarter of 2022, the company’s single quarter main revenue is 403 million CNY, down 7.00% year-on-year. In the first quarter of 2022, the company’s single-quarter main revenue was CNY403 million, down 7.84% year-on-year; single-quarter net profit attributable to the mother -CNY719.97 million, down 116.66% year-on-year; single-quarter net profit withheld -CNY21.1487 million, down 432.05% year-on-year; debt ratio was 45.33%, investment income -CNY227.83 million, financial expenses CNY24.7659 million, gross margin 21.28%.

Focus Lightings

Focus Lightings disclosed its 2021 earnings report. In 2021, the company achieved operating revenue of CNY2.009 billion, up 42.83% year-on-year; net profit attributable to shareholders of the listed company of CNY177 million, up 728.43% year-on-year; basic earnings per share of CNY0.34/share. Cash dividend of 0.4CNY per 10 shares to be distributed to all shareholders

The core operating indicators all showed significant growth, mainly due to.

(1) Capacity expansion to increase sales

The company’s products are represented by backlight, high light efficiency and flip-flop, which have high added value and strong market competitiveness. Benefiting from the sustained high boom of the semiconductor industry, especially the strong demand of the mid- to high-end chip market, while the company’s product structure continues to be optimized, the competitiveness continues to increase, the market share continues to rise, the trend is stable and clear. The company has consistently achieved full production and full sales, and its production capacity has been steadily released, which has led to significant year-on-year growth in operating income.

(2) Product upgrade to increase the selling price

The company deepened the implementation of the “adjust structure, improve performance, reduce costs, create efficiency” business strategy, operating efficiency in the industry’s leading level, especially to strengthen technological innovation, increase investment in research and development to implement product transformation and upgrading, backlight, high light effect, flip-chip and other high-end products represented by the performance continues to improve, the market demand is strong, the company timely raised the The company timely raised the corresponding part of the chip product selling price, gross margin significantly improved, which led to a significant year-on-year increase in operating profit.

(3) Capital planning to reduce expenses

On the basis of the continuous growth of net operating cash flow inflow due to the significant improvement of operating efficiency, the company successfully raised funds by issuing shares to specific parties, which effectively controlled the scale of interest-bearing liabilities, further reduced interest expenses and significantly improved the financial position, and significantly reduced the asset-liability ratio, which will have a significant positive impact on the operating performance in the current period and even in the future; the company timely increased its share capital, which on the one hand optimized On the other hand, it can better reward the shareholders, enhance the liquidity of the shares and help attract investors’ continuous attention.

Focus Lightings released its first quarterly report for 2022, during which the company achieved operating revenue of 481,129,645.09CNY, up 7.15% year-on-year, and net profit attributable to shareholders of the listed company of 24,759,883.61CNY, up 60.66% year-on-year.

The main factors driving the business upward and upward are.

1, the company has always adhered to the development strategy of “focus on resources and strengthen the main business”, and continued to refine the business strategy of “adjusting structure, improving performance, creating efficiency and casting brand”, with a high degree of unity in business thinking and high quality and efficiency, and the core business is in a period of rapid development.

2, the sudden and severe epidemic led to staff attendance restrictions, road transport disruption, the impact of the industrial chain, the company rose to the challenge, the whole heart, one hand to grasp the epidemic prevention and control, the other hand to grasp the full production and full sales, capacity release superimposed on the accurate grasp of product positioning and market demand, backlight, high efficiency, high voltage, flip-chart products as the representative of high-end products production and sales, to ensure that the capacity utilization rate remains high, operating income continued to grow It is not easy to come by.

3, the company adhere to the refinement of management mode covering the entire process of operation, especially to strengthen the independent innovation of technology, cost control. R&D investment increased significantly, high-end product structure upgraded, and selling price steadily increased; production efficiency continued to improve, financing costs dropped significantly, and expenses were well controlled. Total profit and net profit increased significantly, and net profit after deducting non-recurring gains and losses improved significantly.

Shenzhen MTC

Shenzhen MTC released its 2021 earnings report, achieving operating revenue of CNY22.538 billion during the reporting period, up 11.65% year-on-year; achieving net profit attributable to shareholders of the listed company of CNY333 million, down 81.12% year-on-year.

At present, the company’s LED segments are developing well, and the whole industry chain is accelerating to take off. The company has completed the in-depth layout of the whole LED industry chain of “upstream chip, midstream packaging and downstream application”, and achieved revenue of CNY 4.572 billion in 2021, up 24.17% year-on-year, which has become the second growth curve of the company and helped the company upgrade to “smart display”. “The LED chip business is led by MTC Semiconductor, achieving net profit of CNY304 million in 2021, up 353.59% year-on-year; the LED packaging business is led by MTC Light CNY, achieving net profit of CNY208 million in 2021, up 94.27% year-on-year, and in the LED display field, MTC Light CNY released A number of Mini, small pitch and outdoor display products, is one of the first companies to launch Mini flip-flop series of single lamp products and mass production, while combining Mini LED with IMD packaging technology to achieve the development and mass production of P0.6~P0.9 micro-pitch display devices, orderly expand its market share in the display field to achieve the goal of industry leadership.

Shenzhen MTC disclosed its first quarter report for 2022. During the reporting period, the company achieved total revenue of CNY 3,733 million, down 28.70% year-on-year; net profit attributable to the mother company of CNY 346 million, down 25.90% year-on-year; net profit after deduction of non-net profit of CNY 288 million, down 31.95% year-on-year.

San'an

San’an disclosed its 2021 annual results report. 2021, the company achieved operating revenue of 12.572 billion CNY, up 48.71% year-on-year; net profit attributable to shareholders of the listed company was 1.313 billion CNY, up 29.20% year-on-year.

San’an said that the next 2-3 years is a crucial period for the company’s development, the company will focus on the rapid expansion of integrated circuit business and the continuous increase of the proportion of high-end LED product structure, for which the company has made all the preparations, customer pre-expansion has been gradually improved, the planned production capacity layout has been implemented, organizational structure adjustment, technology update, internal control authority settings have been implemented in place. According to the company’s project new production capacity planning, LED business segments of new production capacity mainly in Quanzhou San’an and Hubei San’an, with the continuous release of production capacity, LED segments of the high-end product structure accounted for a significant increase

San’an released 2022 first quarter report that in the first quarter of this year, the company achieved operating revenue of CNY3.107 billion, up 14.35% year-on-year; net profit attributable to shareholders of the listed company was CNY46 million, down 43.01% year-on-year.

San’an said that during the reporting period, affected by the epidemic control, annual maintenance and downstream customer rhythm adjustment, the company’s integrated circuit business (including Xiamen San’an Integrated Circuit Company Limited, Hunan San’an Semiconductor Company Limited, Quanzhou San’an Semiconductor Technology Company Limited filter business) as a whole achieved revenue of 620 million CNY and net profit of 152 million CNY (including the current period recognized non-recurring profit and loss of 215 million CNY). According to the preliminary communication with customers, as the impact of the epidemic is eliminated, it will be gradually replenished in the future.

This also led to an increase in its inventory amount. During the reporting period, San’an’s inventory amount increased by CNY712 million compared to December 31, 2021, including raw materials increased by CNY150 million, work-in-process increased by CNY139 million, semi-finished products increased by CNY65 million, and inventory goods increased by CNY358 million. inventory goods increased by CNY358 million, including LED epitaxial chip business increased by 230 million CNY, integrated circuit business (including Hunan Sanan Semiconductor Co., Ltd., the filter business of Quanzhou Sanan Semiconductor Technology Co., Ltd. and Xiamen Sanan Integrated Circuit Co., Ltd.) increased by 99 million CNY, and LED supplies business increased by 29 million CNY.

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