List of 2024 performance forecasts for 11 LED companies including Skyworth and Alto

Recently, Skyworth Digital, Alto Electronics, GQY Video, Overclocking Three, Huati Technology, Sanxiong Aurora, Spacetime Technology, Chenfeng Technology, Fuman Micro, BiEiMicro, and Woge Optoelectronics released their 2024 performance forecast.

Skyworth Digital

In 2024, Skyworth Digital is expected to achieve a net profit attributable to the parent company of 210 to 290 million yuan, a year-on-year decrease of 65.12% to 51.83%. The company stated that the main reason for the decrease in net profit in 2024 compared with the same period last year is that due to the market competition environment, the sales unit price of intelligent terminal products has dropped significantly, and the small and medium-sized display module business has been under pressure, resulting in a year-on-year decrease in operating income and gross profit margin.

Alto Electronics

In 2024, Alto Electronics expects its net profit attributable to the parent company to turn from profit to loss. Alto Electronics stated that due to the impact of macroeconomic and industry factors, the company's credit and asset impairment losses increased year-on-year, and the repayment of its wholly-owned subsidiary Qianbaihui's domestic smart landscape lighting project business was lower than expected, resulting in a substantial loss of net profit.

On the other hand, Alto Electronics adheres to the "AI + video" strategy, increases the research and development and application of artificial intelligence technology, deeply explores advantageous market segments such as film and television, finance and communications, and digital content, and actively deploys new businesses such as virtual live broadcast of local life and urban renewal, and continues to promote cost reduction and efficiency improvement.

In 2024, Alto Electronics will increase its efforts to develop film, television, digital content and other fields, and its operating income in the domestic market will increase year-on-year. In the film field, the company has delivered a total of 36 LED movie screens. In 2024, the company is expected to achieve operating income of approximately 722 million yuan, a year-on-year increase of 9.71%.

GQY Video

GQY Video expects the company to achieve revenue of 135 million yuan to 185 million yuan, a slight decline or increase year-on-year; it is expected that the net profit loss attributable to the parent company will increase.

GQY Video stated that the main reasons for the performance losses include intensified industry competition, the gross profit margin of the company's main business and the net profit attributable to shareholders of listed companies have declined; the actual operating conditions of the joint-stock company Shenzhen Lanpu Video Technology Co., Ltd. did not meet expectations, and investment losses occurred in this period.

Overclocking Three

In 2024, Overclocking Three is expected to continue to lose net profit attributable to the parent company. During the reporting period, competition in the industry to which Overclocking's three core businesses, lithium-ion battery materials business, belongs intensified, demand growth was lower than expected, and the company's product prices continued to be under pressure, resulting in a decline in gross profit and operating losses.

Information shows that Overclocking Three is mainly engaged in lithium battery cathode materials, new heat dissipation devices for electronic products, and LED industry chain-related businesses. Lithium battery cathode materials are the company's main and key strategic business.

Huati Technology

In 2024, Huati Technology is expected to achieve revenue of 360 to 420 million yuan; net profit attributable to the parent company will turn from profit to loss. Huati Technology is a system solution provider whose main business is smart city new scenes and cultural lighting. Its main business includes urban lighting product R&D and manufacturing, engineering project installation business, lithium battery sales and lithium ore processing and sales business, operation management and maintenance and other businesses.

Sanxiong Aurora

Affected by factors such as the decline in the overall demand of the domestic lighting market and the prosperity of the industry, as well as the increase in the company's sales expenses and administrative expenses compared with the same period last year, in 2024, Sanxiong Aurora is expected to achieve a net profit attributable to shareholders of 40 million yuan to 48 million yuan, a year-on-year decline.

Sanxiong Aurora is mainly engaged in the research and development, production and sales of semiconductor lighting products and lighting control products, and provides supporting lighting solution design, installation and commissioning and other services. Its main products include LED lighting products and lighting control and other products.

Space-time Technology

As a lighting engineering service provider, Spacetime Technology focuses on cultural tourism lighting, landscape lighting, professional scene lighting and other fields, and is developing new businesses such as smart parking. Due to factors such as the decline in gross profit margin of landscape lighting projects, Spacetime Technology is expected to achieve revenue of 330 million yuan to 370 million yuan in 2024; net profit attributable to the parent company will be a loss.

Chenfeng Technology

In 2024, Chenfeng Technology expects net profit attributable to the parent company to be 6.2 million yuan to 9.3 million yuan, a year-on-year decrease of 88.91% to 92.61%.

Chenfeng Technology stated that due to the disposal of large amounts of non-current assets in 2023, the performance base is relatively large. The lack of large gains and losses from the disposal of non-current assets in this period is the main reason for the decline in performance. In addition, in terms of LED lighting business, the price and gross profit margin of the company's LED lighting structural parts-related products have declined, causing the company's lighting business segment profits to decline.

Fumanwei

In 2024, Fuman Micro is expected to achieve revenue of 690 million yuan to 700 million yuan, a slight year-on-year decline; the net profit loss attributable to the parent company will decrease.

Fumanwei stated that during the reporting period, the company focused on product innovation, technology iteration, operating cost control, and product structure adjustment, resulting in a steady increase in the company's product gross profit margin compared with the same period last year; however, affected by the decline in terminal demand in the LED display industry segment and the sales prices of related products repeatedly breaking new lows, the company's product sales revenue decreased compared with the same period last year.

Biyiwei

Biwei estimates that the company will achieve revenue of 670 million yuan to 710 million yuan in 2024, a year-on-year increase. Net profit attributable to the parent company continued to suffer losses. During the reporting period, BiYiWei continued to increase its market share in fast charging, high-power power supplies, smart home appliances, data centers, new energy and other fields. Revenue in the above fields increased by more than 50% year-on-year, driving the company's operating income to achieve year-on-year growth.

In addition, as the company continues to increase its product layout, expand overall solutions, increase in R&D investment, share-based payment expenses and other factors, the company's operating expenses increase year-on-year.

WOG Optoelectronics

Woge Optoelectronics predicts that the company will achieve revenue of 2.100 billion yuan to 2.350 billion yuan in 2024, a year-on-year increase of 15.79% to 29.58%; it is expected that the net profit attributable to the parent company will be a loss.

Woge Optoelectronics stated that during the reporting period, the company strengthened its core capability building and order acquisition capabilities, actively increased the market share of its existing business, and achieved a certain growth in operating income.

At the same time, due to the decline in sales unit price and comprehensive gross profit margin of the traditional optoelectronic glass finishing business and optoelectronic device products, the gross profit of the traditional business is under pressure. As consumer electronics gradually recovers, the operating income of traditional optoelectronic glass finishing business will increase in the second half of 2024 compared with the first half of the year. Especially in the field of automotive coating processing, the company will continue to increase the market share of this business.

In addition, the company's R&D investment during the reporting period is expected to be 120 million yuan, an increase of about 30 million yuan from the previous year. At the same time, because during the reporting period, the company's subsidiary Hubei Tongge Micro Company's new production capacity was in the investment and construction stage, and its subsidiary Jiangxi Dehong Display Company was in the stage of increasing utilization rate, it had a negative impact on the current profit. The situation has not yet had a positive impact.