On the evening of August 17, Guoxing Optoelectronics (002449) released its semi-annual report for 2017. Over the reporting period, the company achieved a total operating income of 1.597 billion yuan, representing a 51.45% increase compared to the same period last year. The net profit attributable to shareholders of listed companies was 153 million yuan, marking a 62.44% rise from the previous year. By June 30, 2017, the company’s total assets amounted to 5.639 billion yuan, with the net assets attributable to shareholders of listed companies reaching 2.953 billion yuan.
As a leader in domestic LED device packaging, Guoxing Optoelectronics boasts a stable team and excellent technical capabilities, having passed comprehensive production and quality management certification systems. Its main products include LED epitaxial wafers and chips (various power and size epitaxial wafers, LED chip products), device products (display device products, white light device products, special device products, indicator device products), components (display modules and backlights), and lighting applications (light sources and lighting products).
One of the company's significant strengths lies in its vertically integrated industrial chain system. During the reporting period, Guoxing Optoelectronics adhered to the corporate development strategy of "vertical integration across the upstream, midstream, and downstream sectors." It has become one of the few companies in China capable of covering the entire industrial chain, including epitaxy and chips, packaging and modules, and LED application products.
In 2016, the company's new packaging project capacity gradually came online. In the first half of 2017, Guoxing Optoelectronics further invested capital to expand production, strengthening its domestic leadership in advanced product packaging capabilities and deepening its business cooperation relationships with customers. Additionally, the company’s extension and chip business transitioned from losses to profitability, ensuring chip supply and packaging stability. Leveraging innovation, the company accelerated its globalization strategy, with overseas sales continuing to grow rapidly. By deepening its integration strategy, Guoxing Optoelectronics utilized the synergistic advantages of the entire industrial chain, including chips, packaging, and lighting applications. This approach allowed for effective cost control across the upper, middle, and lower streams, creating a complementary endogenous system that enhanced overall strength and profitability.
Guoxing Optoelectronics continued to bolster its research and development capabilities during the first half of 2017. The company invested 582.125 million yuan in R&D, a 19.56% increase from the previous year. The company participated in the "Key Technology of Complex Surface Thermal Function Structure Design and Controllable Key Technology" project and received the "2016 National Science and Technology Progress Award Second Prize," approved by the State Council of the People's Republic of China.
According to statistics, Guoxing Optoelectronics filed 17 new patent applications in the first half of the year, including two invention patents and 15 utility model patents.
The company achieved notable progress in the first half of the year:
• Developed small indoor high-density 0808/0606 and outdoor high-defense high-density 1921 devices, enabling indoor P1 and outdoor P4 small-pitch high-density displays, maintaining its leading position in domestic display packaging trends;
• Improved the self-owned brand REESTAR series 3535, 2727, and other device series to meet the needs of high-end display devices;
• The Xingrui RooStar white light series products achieved a batch efficiency of 200lm/W, with LED lighting for automotive lighting passing rigorous verification, achieving technical upgrades;
• The Intelligent Lighting COB became the first intelligent lighting COB in the U.S. to obtain LM-80 certification;
• Launched CHIP LED 0.35mm ultra-thin 0402 series products, actively exploring smaller size areas;
• Introduced touch-key display modules with color-adjustable COB and integrated modules featuring minimal international light loss;
• Launched new products such as inorganic UV LEDs, VCSEL infrared 3535, and primary lens forming UV LED P3528, and actively expanded new high-growth areas such as UV, IR, automotive, and plant lighting;
• Released cost-effective EA series and DB eagle eye series track lights, panel lights, diamond downlights, and candle lights;
• Created panel light series products, enhancing brand influence and passing the highest level energy efficiency certification of DLC 4.0 in the U.S.;
• The company’s wholly-owned subsidiary, National Star Semiconductor, developed the copper process vertical violet chip and successfully produced the flip chip for mobile phone flash.
During the reporting period, Guoxing Optoelectronics maintained a mid-to-high-end product positioning, deepening its LED packaging technology and manufacturing capabilities. The company pursued a "large customer and strong customer" strategy, optimizing the customer structure of high-end white-light packaging and consolidating its leading position in the field of display packaging. This effort promoted the stability and expansion of the component market, while expanding the scale advantage of faucet product packaging. Following the successful capacity and efficiency release of the packaging project in 2016, the company plans to further invest up to 350 million yuan to construct its leading product packaging and expansion project, enhancing its industry-leading position through economies of scale to improve the core competitiveness of its main business.
The company also strengthened its upstream technology leadership and optimized the management of its upstream chip business. On one hand, it integrated resources from existing chip subsidiaries, Guoxing Semiconductor and Yaweilang, adjusted its corporate structure and product mix, and expanded epitaxial chip production capacity through technological innovation and equipment upgrades, achieving significant results in supporting operations between chips and packaging. On the other hand, the company actively explored new areas of upstream chip development, collaborating with RaySent technology and others, aiming to build a new blue ocean of related technologies and products based on silicon substrates.
Guoxing Optoelectronics focused on the layout of downstream lighting sub-applications, highlighting the brand personality of "high precision" through innovative and differentiated product design. It positioned the development of engineering channels and sales models for group customers, deepening the development of lighting application segments.
To strengthen brand promotion and further expand domestic and international markets, Guoxing Optoelectronics deepened enterprise construction and implemented brand upgrades, solidifying the development of the international market. Through mainstream industry media, networks, outdoor advertising, forums, and other methods, the company carried out all-around, multi-angle, and in-depth publicity of its brands and products, building a robust brand promotion system. It maintained communication with government agencies and industry associations, establishing good public relations. New product promotion events were held to consolidate brand awareness and market penetration.
The company optimized its media presence and actively participated in renowned exhibitions both domestically and internationally, such as the Guangzhou International Advertising Logo Exhibition, the Netherlands ISE International Audiovisual and System Integration Exhibition, and the American InfoComm2017 Audiovisual Display Technology and System Integration Exhibition. It improved its online stores and exhibition halls, showcasing its high-end brand image.
Using internet social thinking, the company created a self-media operation platform. It fully utilized the overseas advantages of German National Star Company to expand the application market of chips, packaging, components, and lighting by integrating resource-intensive development.
Up to now, Guoxing Optoelectronics has over 1,000 lighting sales channel outlets across the country, 10 prefecture-level city agencies, 9 provincial-level operation centers, and 4 directly-operated offices. The number of core dealers has reached over 800. The company has also strengthened the development and expansion of overseas markets such as Europe, the United States, and Southeast Asia, achieving remarkable results.
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