Chau Ming Technology: Overseas creative screen performance increased by small spacing to open up the future

1, Redio creative screen growth, profit growth rate is much higher than income growth

From January to June, the accumulated income reached 624 million yuan, an increase of 178 million yuan over the same period of last year. Among them, the rapid growth of Redio increased by 58.69 million, and the blue chip contributed another 81.6 million. The parent company increased 38 million yuan, including lighting and LED packaging. There was a slight decline; although the company's revenue growth did not increase significantly, but the profitability increased significantly, in the first half of the 57 million consolidated profits, Redio contributed 30.63 million yuan, and Lanpu had another 10.14 million yuan, the company's original business 16.21 million yuan, a substantial increase from last year's 6.58 million yuan; Lei Dio and Lanpu products high gross profit, and the company's structural adjustment continued to drive the company's gross profit margin growth, the first half of the cumulative gross profit margin reached 34.5%, an increase of 5.13 percentage points, is profit The growth rate is much higher than the main reason for income growth.

2, Redeo's overseas creative screen growth can be expected

The overseas creative screen market needs a strong design concept. Redio's "Black Onyx" creative products have won 7 international top design awards. Many years of overseas market operations, combined with a relatively stable supply chain system in overseas markets, are beneficial to the company's realization of overseas markets. Rapid growth after the breakthrough; it is expected that Redio will maintain a relatively fast growth trend in the next 2-3 years;

3, small spacing gradually force, drive LED display continues to upgrade

With the upgrade of LED display technology and the rapid decline of the cost of LED packaging devices, small pitches gradually enter the commercial market; small pitch itself is the main manifestation of the display pixel itself. From the perspective of product definition, small pitch products are in the absence. The advantages of seam stitching, etc., have a strong substitution effect on LCD liquid crystal screen, PDP plasma splicing screen, DLP rear projection splicing screen and the like. In the first half of the year, the company achieved a small-interval operating income of 167,794,600 yuan, an increase of 113.01% over the same period of the previous year, and another new order of 249,914,200 yuan, an increase of 192.72% over the same period of last year; in addition, as the cost decreased, the original ordinary LED display products also It is expected to significantly increase new market applications, pixel enhancements and growth in new applications continue to drive the growth of the LED display market.

4, LED lighting to find new development ideas

The scale of LED lighting of the company is quite different from that of the market giants. It will be developed from the perspective of intelligent lighting and special lighting. The subsidiary Xiaoming Technology is committed to promoting intelligent lighting products, and cooperates with Qingke (Ali shares) and Ali Intelligent Cloud. Promote the development of intelligent lighting products together; because smart lighting needs overall design coordination in the home, the company cooperates with the Internet decoration platform Tuba Rabbit to obtain 2B2C market channels; intelligent lighting and promote the application of LIFI system in indoor navigation and other scenarios, It is also conducive to improving the overall competitiveness of the company and participating in the offline O2O transformation process.

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