Interpretation of the 2007 annual report of listed companies in the lighting industry


At present, the stock market has become a hot spot of social concern. The stock market is not only a stock trading phenomenon, but also a barometer of the development of various industries. There are also some listed companies in the lighting industry, and their performance in the stock market deserves the attention of the lighting industry.

In a broad sense, there are many listed companies in the lighting industry. However, in the business structure of some listed companies, the proportion of the lighting industry is very small. For example, TCL Group (000100) and Garbo Group (600622) are only tens of millions of yuan. The scale of business is similar to that of many unlisted lighting companies, and will not have a significant impact on the overall performance of listed companies and stock market performance. Therefore, from the perspective of business scale, there are mainly seven listed companies in the domestic lighting industry: Feile Audio (600654), Foshan Lighting (000541), East China Science and Technology (000727), Zhejiang Sunshine (600261), and Snow Wright (002076). Yinghui (HK1163) and Zhen Mingli (HK1868). As of the end of August, these listed companies have released their 2007 mid-term business reports, let us look at their latest business conditions.

Industry veteran

Shanghai Feile Audio Co., Ltd. is a well-deserved "elder" in the lighting industry listed company. It was established in 1984. It is the earliest joint-stock enterprise in China. It publicly issued 500,000 yuan of common shares to the public for the first time. In 1986, stocks entered the securities counter trading ( In 1990, it was transferred to the Shanghai Stock Exchange. It is the earliest listed company in China and is known as the “China's first share”. At present, its major shareholder is Shenzhen Lihe Venture Capital Co., Ltd. (a joint venture between Tsinghua University and Shenzhen Municipal Government).

Fei Le Audio originally operated a variety of electronic products. In 2002, it acquired the first national lighting enterprise in China, Shanghai Yaming Bulb Factory Co., Ltd., and entered the lighting industry as a main business. According to the mid-year report, the company's total revenue in the first half of this year was 680 million yuan, of which the lighting industry's operating income was about 410 million yuan, and the net profit was about 24.1 million yuan, up 24.8% and 19.1% year-on-year respectively. The profit pillar of Feile Audio. Feile Audio is very optimistic about the development of the domestic lighting industry. It will increase the undistributed profit of Yaming Company in 2006 by increasing its capital to support the development of the lighting business.

Foshan Electric Lighting Co., Ltd. was listed in Shenzhen in 1993 and issued B shares in 2005 (200541). In 2006, the controlling stake of Foshan Lighting was sold to Osram Prosperity Holdings Co., Ltd. by Foshan Municipal Government. The actual controller was Hong Kong Prosperity Lighting Equipment Company. The scale of Foshan Lighting's assets is the largest in the lighting industry.

According to the mid-year report, the main business income in the first half of this year was 690 million yuan, a year-on-year increase of 15%; the net profit was about 300 million yuan, a year-on-year increase of 155.6%. Among them, the domestic sales income was 420 million yuan, a year-on-year increase of 10%; the foreign sales income was 270 million yuan, a year-on-year increase of 21%.

The history of Nanjing Huadong Electronic Information Technology Co., Ltd. can be traced back to 1937. The light source is its traditional industry. It was listed in Shenzhen in 1997, and the holding company is Nanjing Huadong Electronics Group Co., Ltd. (state-owned enterprise).

The main product of Huadong Technology in the lighting business is fluorescent lamps, with an annual output of 50 million pieces and a domestic market share of 1/5. However, in recent years, the business has become a secondary player in the company's overall business. According to the mid-year report, the company's total revenue in the first half of this year was 320 million yuan, of which the sales revenue of fluorescent lamps was 48 million yuan, down 10% year-on-year; the gross profit margin was 0.74%, a slight increase from the previous year.

In the first half of this year, Huadong Technology strengthened channel development, brand planning and market promotion, and actively entered the supermarket terminal and made breakthrough progress, and adjusted the price of some products; at the same time, vigorously developed the green lighting industry.

Rising star

Zhejiang Sunshine Group Co., Ltd. was listed in July 2000. The legal person shareholder of Zhejiang Sunshine is Century Sunshine Holding Group Co., Ltd. The ultimate actual controller is Chen Senjie and his family.

According to the mid-year report, Zhejiang Sunshine's operating income in the first half of this year was 810 million yuan, up 7.53% year-on-year, and completed 44.8% of the annual plan of 1.8 billion yuan. Due to the impact of raw material price increase and RMB appreciation, the net profit was about 47 million yuan. It was down about 10% year-on-year, and completed 39% of the annual planned profit of 120 million yuan. In the business structure, the energy-saving lamp business revenue reached 580 million yuan, and the T5 and its ancillary products were 110 million yuan. In the regional market distribution, the domestic market is 160 million yuan; followed by Europe, Asia (excluding China), North America, business income is more than 100 million yuan; in South America, Australia and Africa have tens of millions of dollars Business income.

This year, Zhejiang Sunshine plans to promote its marketing strategy and sales team, strengthen its own brand promotion, expand its product line, and increase the proportion of new business.

Guangdong Xuelaite Optoelectronics Technology Co., Ltd. was listed on the Shenzhen SME Board in October 2006. The controlling shareholder is Chairman Chai Guosheng (49.66%).


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