Hengtai Lighting’s net profit in the first three quarters was 106 million yuan, a year-on-year increase of 57.57%

On October 17, Hengtai Lighting released its third quarter report for 2022. The report shows that the company’s revenue in the first three quarters of this year was 534 million yuan, a year-on-year decrease of 9.04%; the net profit attributable to shareholders of the listed company was 106 million yuan, a year-on-year increase of 57.57%.

Hengtai Lighting said that the decline in revenue was mainly due to multiple factors that led to a large decline in new orders at the end of the second quarter and the beginning of the third quarter. Accordingly, shipments in the third quarter were reduced compared with the same period last year.

Information shows that Hengtai Lighting is mainly engaged in the research and development, manufacturing, sales and service of industrial lighting and commercial lighting products. The products are mainly used in office lighting, industrial lighting and commercial lighting. The company plans to apply for listing on the Beijing Stock Exchange and has successfully passed the meeting.

It is understood that Hengtai Lighting plans to raise 199.198 million yuan for annual production of 5 million sets of LED lighting fixtures, R&D center upgrades, and intelligent production equipment technical transformation projects.

Among them, the "annual output of 5 million sets of LED lighting fixtures project" has a total investment of 157.055 million yuan. The project construction period is 24 months. Through the construction of production plants and intelligent three-dimensional warehouses, the purchase of production equipment such as assembly conveyor lines, anti-static workbenches, intelligent detection aging lines, semi-automatic screw machines, as well as shelves, stackers, conveyors, transfer machines and other equipment required for intelligent three-dimensional warehouses.

When talking about the necessity of LED lighting project construction, Hengtai Lighting said that in recent years, China's LED lighting exports have gradually increased. More than 90% of the company's products are sold to the United States and Canada, and its customers are relatively stable. With the increase in foreign orders and the gradual growth of the domestic market, if the company cannot expand its production scale in time, it may miss good development opportunities in the industry competition in the future.

After the project is implemented, it will further increase the company's production capacity and improve product quality, meet the increasingly stringent quality requirements of customers, meet the growing market demand, and also help to obtain more overseas high-quality customers, which will further enhance the company's market share and industry status in LED lighting fixtures.

The "R&D Center Upgrade Project" has a total investment of 21 million yuan and a construction period of 12 months. The main research and development contents include strategic cooperation with the optoelectronics colleges of universities, the development of LED plant lights and UV lamps, LED product research and development centers, IOT intelligent interconnected LED lighting systems, etc., aiming to further enhance the company's technological research and development strength in the LED lighting industry.

The "Intelligent Production Equipment Technical Transformation Project" has a total investment of 21.143 million yuan and a project construction period of 12 months. The implementation of the project will further improve production efficiency, reduce labor costs, deepen the main business, and enhance the industry's status.