Last year's outstanding performance of Liard (300296) released the 2017 first quarterly report on the evening of April 20th. The company's performance achieved another good result. In the first quarter, the company achieved revenue of 1.128 billion yuan, and net profit doubled to 172 million yuan. Basic earnings per share. 0.21 yuan.
According to the report, in the first quarter of 2017, the company's revenue increased by nearly 40% year-on-year, mainly due to the increase in orders and acceptance items during the reporting period. In addition, the acquisition of Lan Shuo Technology, Vanke Times, Purui Lighting, Zhongtian Lighting, Junze Lighting, and NP Company resulted in an increase in operating income. However, the change in fair value of the shares held during the reporting period increased compared with the same period of the previous year, and the gains from changes in fair value decreased by 117.29% compared with the same period of the previous year.
At present, Liard has invested in mergers and acquisitions, and its five lighting companies form the largest lighting enterprise group in China. In the first quarter, the lighting business group's performance remained high, with operating income of 314 million yuan, an increase of about 70% over the same period of the previous year, and a gross profit margin of 43.91%.
In the traditional main business, the intelligent display sector also maintained rapid growth. In the first quarter, small orders were signed at 379 million yuan, an increase of 33.45% over the same period of last year; small-pitch TV orders reached 495 million yuan, an increase of 50% over the same period of last year; especially the small spacing of channel sales was newly signed at 609 million yuan, compared with the same period last year. The growth rate is nearly 6 times.
In addition, the cultural tourism sector achieved operating income of approximately 79 million yuan, and the VR experience achieved profit for the first time.
Last year, the company acquired NATURAL POINT (NP company), laid out the VR industry, and invested in researching the application space of VR and LED display products. On January 25th, the acquisition and completion of the entire equity of NP Company was completed, enriching the performance of the “VR Experience†section of “Happy Cityâ€. From February to March, NP Company realized operating income of 39.833 million yuan and consolidated net profit of 11.7954 million yuan.
As of the disclosure date of the announcement, the cultural tourism, intelligent display, and night travel economic sectors have not fully confirmed the total contract value of more than 10 million yuan in the contract amount of 787 million yuan.
It is worth noting that Liard's dependence on major customers has decreased. In the first quarter of this year, the total procurement volume of the top five suppliers increased year-on-year, but the proportion decreased from 35.68% in the first quarter of last year to 28.22%. The total revenue of the top five customers reached 217 million yuan, accounting for 19.26%.
The LED industry generally achieved good revenue last year. Peasant Zhouming Technology (300232) is expected to increase in the first quarter, and its net profit will double from the same period of the previous year, with a profit of up to 52 million yuan. The company pointed out that the domestic LED small-pitch market continued to improve, with sales on a large scale compared with the same period of last year, and the sales revenue of foreign trade continued to grow. Sunshine Lighting (600261) first quarter net profit increased by about 15%.
Essence Securities Research pointed out that LED display and model innovation will extend from hardware to content services and operational innovation. Under the background of the continuous improvement of LED small-pitch industry and the large-scale enterprises to meet the needs of large industries, the industry will usher in innovative development and frequent integration period, which will rely on “screen†to carry content and serve as a high-end attribute of media portal. Gradually expand content businesses such as cultural media and urban landscapes.
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