17 companies including Konka, Visionox, and Kangguan announced their third-quarter results

Recently, 17 LED-related companies, including Shenzhen Konka, Visionox, Kangguan Technology, Mingwei Electronics, Haimuxing, and Ocean King, announced their third quarter results. Many companies increased revenue but not profits in the third quarter.

Shenzhen Konka

Shenzhen Konka’s third quarter revenue was 4.405 billion yuan, a year-on-year decrease of 42.80%; net profit attributable to the parent company continued to suffer losses. Revenue in the first three quarters was 14.877 billion yuan, a year-on-year decrease of 39.52%; net profit attributable to the parent company turned from profit to loss.

As the color TV business was affected by factors such as the decline in industry scale, rising supply chain costs, and product sales structure being in an adjustment period, Konka suffered a net profit loss during the reporting period. In addition, in the first half of 2023, new color TV products such as Mini/Micro LED are still in the introduction period, and the marketing strategy is in the adjustment period, which has affected the sales scale and total gross profit of the color TV business to a certain extent.

In the first half of the year, Konka's semiconductor industrial park with a total investment of 30 billion yuan has entered normal production. The park has multiple Mini/Micro LED production lines and testing center projects, including: a complete process mass transfer pilot line, an MLED testing center with comprehensive testing capabilities, an MLED direct display mass production line, a Mini LED backlight mass production line, and an MLED chip mass production line. Konka plans to form an industrial park worth RMB 100 billion within 10 years.

Visionox

In the third quarter, Visionox achieved revenue of 1.426 billion yuan, a year-on-year increase of 0.25%. In the first three quarters, Visionox’s revenue was 4.119 billion yuan, a year-on-year decrease of 14.79%; net profit attributable to the parent company continued to suffer losses during the reporting period.

In the first half of the year, affected by fluctuations in macroeconomic and consumer electronics demand, the prices of Visionox's mid- and low-end smartphone OLED products fluctuated greatly. The price of the company's OLED products has dropped due to competition, which has resulted in the company's OLED product revenue and gross profit margin changing significantly from the same period last year in the company's product revenue. This has also affected the OLED display industry and overseas revenue and gross profit margin in the sub-sectors to decline compared with the same period last year.

In the field of Micro LED, its joint venture company Chenxian Optoelectronics has completed the lighting of a variety of P0.5TFT-based Micro LED products. In September, Chenxian Optoelectronics officially laid the foundation for the world's first TFT-based Micro-LED production line with a total investment of 3 billion yuan, and is expected to ship in the second half of next year.

Kangguan Technology

In the third quarter, Kangguan Technology achieved revenue of 3.59 billion yuan, a year-on-year increase of 7.29%; net profit attributable to the parent company was 320 million yuan, a year-on-year decrease of 29.91%. In the first three quarters, the company's revenue was 8.562 billion yuan, a year-on-year decrease of 5.73%, and the net profit attributable to the parent company was 865 million yuan, a year-on-year decrease of 24.57%.

Kangguan Technology stated that in the third quarter, the company’s smart TV shipments increased by 24.41% year-on-year, and the business volume of intelligent interactive display products increased overall, with shipments increasing by 134.37% year-on-year. Among intelligent interactive display products, professional display products and innovative display products have experienced strong growth and are the key areas of Kangguan's R&D investment. The company will continue to work hard to develop more intelligent display products in new application scenarios.

Lianchuang Optoelectronics

Lianchuang Optoelectronics is mainly engaged in the research and development, production and sales of laser series and traditional LED chip products, intelligent control series products, backlight and application products, optoelectronic communication and intelligent equipment cables and metal material products.

In the third quarter, Lianchuang Optoelectronics achieved revenue of 810 million yuan, a year-on-year increase of 4.91%, and net profit attributable to the parent company was 104 million yuan, a year-on-year increase of 17.59%. In the first three quarters, the company's revenue was 2.469 billion yuan, a year-on-year decrease of 17.06%; the net profit attributable to the parent company was 319 million yuan, a year-on-year increase of 19.24%.

In the first half of the year, Lianchuang Optoelectronics’ laser series and traditional LED chip product business achieved revenue of 128 million yuan, a year-on-year decrease of 3.66%. The backlight and application products business was affected by the decline in market demand, with revenue of 459 million yuan, a year-on-year decrease of 23.74%.

Lianchuang Optoelectronics has divested some assets in the mobile phone business of the backlight segment at the end of 2022, reducing investment in the mobile phone business while increasing investment in the automotive, tablet, and industrial control fields.

Mingwei Electronics

Mingwei Electronics is mainly engaged in the R&D, design, packaging, testing and sales of integrated circuits. Its products mainly include display driver chips, linear power supply chips, power management chips, etc. The products are widely used in display screens, smart landscapes, lighting, home appliances and other fields. Ming Microelectronics is continuing to deploy Mini LED direct display and backlight markets.

In the third quarter, Ming Microelectronics achieved revenue of 194 million yuan, a year-on-year increase of 38.19%; in the first three quarters, revenue was 507 million yuan, a year-on-year decrease of 5.93%. Net profit attributable to the parent company continued to suffer losses during the reporting period.

Ming Microelectronics said that in the third quarter, the company's inventory digestion effect was significant, the capacity utilization rate of the packaging and testing plant rebounded, and the company's product prices and gross profit margins gradually stabilized.

The decline in performance in the first three quarters was mainly due to the impact of the overall macroeconomic and semiconductor cycle downturn, sluggish end market demand, and a large decline in the company's product gross profit margin; at the same time, the decline in product sales prices caused a large amount of asset impairment losses and other factors.

Baoming Technology

LED backlight manufacturer Baoming Technology is currently actively transforming. In the field of LED backlight, it has increased its layout in the field of Mini LED backlight. At the same time, it is also making cross-border layouts in the high-growing new energy lithium battery market to develop a second growth curve.

In the third quarter, Baoming Technology achieved revenue of 439 million yuan, a year-on-year increase of 99.53%. Revenue in the first three quarters was 990 million yuan, a year-on-year increase of 42.32%. Net profit attributable to the parent company continued to suffer losses during the reporting period.

In the first half of the year, Baoming Technology expanded sales channels, continued to optimize internal management, significantly reduced costs and increased efficiency, and its main business income and product gross profit margin increased compared with the same period last year.

In addition, Baoming Technology also signed the "Baoming Technology Composite Copper Foil Production Base Project Investment and Construction Contract" with Ma'anshan City in February this year. The total investment of the project is 6.2 billion yuan, which will accelerate the development of Baoming Technology in the new energy business.

Jingfeng Mingyuan

In the third quarter, Jingfeng Mingyuan achieved revenue of 301 million yuan, a year-on-year increase of 39.79%; net profit attributable to the parent company was 54 million yuan, turning a loss into a profit year-on-year. In the first three quarters, the company's revenue was 916 million yuan, a year-on-year increase of 13.56%, and the net profit attributable to the parent company continued to suffer losses.

Jingfeng Mingyuan is a power management driver chip design company that specializes in analog semiconductor power management chips. Its products include LED lighting driver chips, motor driver chips, AC/DC power chips, DC/DC power chips, etc.

In March this year, Jingfeng Mingyuan planned to acquire 38.87% of the equity of microcontroller chip company Lingou Chuangxin for 250 million yuan. In May, Jingfeng Mingyuan announced that it planned to raise 709 million yuan for high-end power management chip industrialization projects, R&D center construction projects, and supplementary working capital.

Haimuxing

In the third quarter, Haimixing’s revenue was 1.215 billion yuan, a year-on-year increase of 3.33%, and the net profit attributable to the parent company was 127 million yuan, a year-on-year increase of 1.02%. In the first three quarters, Haimuxing’s revenue was 3.361 billion yuan, a year-on-year increase of 41.78%, and the net profit attributable to the parent company was 312 million yuan, a year-on-year increase of 41.60%. Haimuxing said that the performance growth during the reporting period was mainly due to the increase in revenue recognized from order acceptance during the reporting period.

As a manufacturer of laser intelligent equipment, Haimixing continues to overcome the difficulties in the chip, display module and display integration processes in the new display field. It has mastered the 50μm level Micro LED mass transfer technology and is able to provide mass bonding and rework solutions for Mini LED display modules with a yield rate of 99.99%. In the first half of the year, Haimuxing made new development progress in its Mini LED and Micro LED mass transfer and mass welding equipment, and achieved prototype sales.

Northern Huachuang

In the third quarter, Northern Huachuang achieved revenue of 6.162 billion yuan, a year-on-year increase of 34.88%, and net profit attributable to the parent company was 1.085 billion yuan, a year-on-year increase of 16.48%. In the first three quarters, the company achieved revenue of 14.588 billion yuan, a year-on-year increase of 45.70%; net profit attributable to the parent company was 2.884 billion yuan, a year-on-year increase of 71.06%.

Northern Huachuang said that in the first three quarters of 2023, the market share of the company's semiconductor equipment business has steadily increased, operating efficiency has continued to improve, and the company's revenue and net profit attributable to the parent company have continued to grow compared with the same period last year.

Information shows that North Huachuang is mainly engaged in the business of electronic process equipment and electronic components. Electronic process equipment mainly includes semiconductor equipment, vacuum equipment and new energy lithium battery equipment, which are widely used in integrated circuits, advanced packaging, semiconductor lighting, new displays and other fields.

Huaxing Yuanchuang

In the third quarter, Huaxing Yuanchuang’s revenue was 451 million yuan, a year-on-year decrease of 20.35%; the net profit attributable to the parent company was 60 million yuan, a year-on-year decrease of 54.69%. In the first three quarters, Huaxingyuan generated revenue of 1.338 billion yuan, a year-on-year decrease of 19.84%; net profit attributable to the parent company was 191 million yuan, a year-on-year decrease of 31.37%. Regarding the decline in performance, Huaxing Yuanchuang said that during the reporting period, due to the impact of macroeconomics, customers' willingness to invest decreased, and the company's operating income decreased.

Huaxing Yuanchuang is a provider of industrial automation testing equipment and complete line system solutions. It is reported that Huaxing Yuanchuang is closely following the iteration of panel display technology, and its reserves of new generation display testing technologies such as Micro LED and Micro OLED are constantly increasing. Micro LED series testing equipment has been supplied to well-known customers such as Chenxian Optoelectronics and Konka. Micro OLED series testing equipment is actively cooperating with many end customers in the development of next-generation products.

Igor

Igor's business revolves around the "2+X" strategic layout, based on energy products and lighting products, while actively deploying new application fields such as vehicle power supply, vehicle inductor, communication power supply and energy storage.

In the third quarter, Igor’s revenue was 945 million yuan, a year-on-year increase of 41.42%; the net profit attributable to the parent company was 75 million yuan, a year-on-year increase of 28.56%. In the first three quarters, the company's revenue was 2.518 billion yuan, a year-on-year increase of 22.49%, and the net profit attributable to the parent company was 165 million yuan, a year-on-year increase of 15.56%.

In the first half of the year, the market demand for Igor's new energy products was strong, with a year-on-year increase of 317.1827 million yuan, a year-on-year increase of 55.24%, continuing to maintain rapid growth momentum; lighting products achieved revenue of 335.8202 million yuan, a decrease of 27.93% from the same period last year, mainly due to weak overseas market demand leading to a year-on-year decline in exports.

Ocean King

In the third quarter, Ocean King's revenue was 302 million yuan, a year-on-year decrease of 26.46%; the net profit attributable to the parent company was 09 million yuan, a year-on-year decrease of 52.86%; in the first three quarters, Ocean King's revenue was 1.142 billion yuan, a year-on-year decrease of 5.72%; the net profit attributable to the parent company was 89 million yuan, a slight increase of 0.98% year-on-year.

Ocean King is integrating working environment lighting products with the Internet, giving full play to the product portfolio advantages of LED products + controller + service platform to provide customers with professional lighting solutions. In the context of the unstable global economy in the first half of the year, Ocean King seized market opportunities to tap into market demand, achieve sales revenue growth, and strengthen inventory turnover, operational efficiency, and R&D investment intensity.

Qinshang Shares

Currently, Qinshang Shares is mainly engaged in the research, production and sales of outdoor lighting, landscape lighting and outdoor garden supplies. In the first half of this year, all of Qinshang’s revenue came from the semiconductor lighting business, which dropped by nearly 40% year-on-year.

In the third quarter, Qinshang's performance declined due to factors such as a decline in orders for the semiconductor lighting business. In the third quarter, Qinshang’s revenue was 58 million yuan, a year-on-year increase of 38.59%, and net profit attributable to the parent company continued to suffer year-on-year losses. In the first three quarters, the company's revenue was 245 million yuan, a year-on-year decrease of 48.61%; the net profit attributable to the parent company was 62 million yuan, a year-on-year decrease of 19.16%.

Overclocking three

In the third quarter, Overclocking 3’s revenue was 180 million yuan, a year-on-year decrease of 25.01%. In the first three quarters, the company's revenue was 528 million yuan, a year-on-year decrease of 35.66%. During the reporting period, net profit attributable to the parent company turned from profit to loss. Overclocking Three stated that the revenue decline during the reporting period was mainly due to the decline in revenue from lithium battery cathode materials and LED lighting fixtures business.

It is worth noting that Overclocking Three describes the company as mainly engaged in lithium battery cathode materials, new heat dissipation devices for electronic products, and LED industry chain-related businesses. Lithium battery cathode materials have become the company's main and key strategic business.

Luoman Shares

In the third quarter, Luoman Shares achieved revenue of 203 million yuan, a year-on-year increase of 572.26%, and net profit attributable to the parent company was 40 million yuan, turning a loss into a profit year-on-year. In the first three quarters, the company's revenue was 405 million yuan, a year-on-year increase of 240.28%; the net profit attributable to the parent company was 76 million yuan, a year-on-year increase of 817.92%.

Luoman Holdings stated that during the reporting period, the company rapidly promoted the national layout of landscape lighting business, continued to deeply explore the East China regional market, and actively expanded new markets such as Shenzhen, Chongqing, Qingdao, Dalian, Kaifeng, Jinjiang, Shangrao, etc., production and operations rebounded for the better, and operating income increased significantly compared with the same period last year.

In addition, the company increased its collection efforts, strengthened the collection of accounts receivable and cash flow management. During the reporting period, it recovered some long-aged accounts receivable, and the bad debts formed by this part of the accounts receivable were reversed, thereby increasing profits.

Haoyang Shares

In the third quarter, Haoyang Shares achieved revenue of 302 million yuan, a year-on-year decrease of 15.76%; net profit attributable to the parent company was 87 million yuan, a year-on-year decrease of 30.95%. In the first three quarters, the company achieved revenue of 1.011 billion yuan, a year-on-year increase of 8.77%; net profit attributable to the parent company was 311 million yuan, a year-on-year increase of 2.81%.

The main products of Haoyang Co., Ltd. include: stage entertainment lighting equipment, architectural lighting equipment, trusses and ultraviolet disinfection equipment, etc. In the first half of the year, as domestic measures restricting performing arts activities were fully relaxed, market demand for performing arts equipment recovered rapidly, and Haoyang's performance increased year-on-year.

Mingjiahui

Mingjiahui achieved revenue of 21 million yuan in the third quarter, a year-on-year increase of 91.97%. Revenue in the first three quarters was 68 million yuan, a year-on-year decrease of 57.28%. Net profit attributable to the parent company continued to suffer losses during the reporting period.

Mingjiahui's main business is the design and construction of lighting projects, the research and development, production and sales of lighting products and a small amount of contract energy management business. The company carries out lighting engineering design, construction projects, EMC projects, smart street lights and cultural tourism night tour investment and operation projects. During the reporting period, the company's performance declined due to the decrease in construction projects.