On the evening of March 6, Silan Micro (600460) released its 2016 annual performance report. During the reporting period, the company's total operating income was 2,375.05 million yuan, an increase of 23.29% over the same period of 2015; the company's operating profit was 12.27 million yuan, compared with 2015. During the same period, the increase of RMB 53.32 million; the net profit attributable to shareholders of the parent company was RMB 95.89 million, an increase of 140.47% over the same period of 2015.
Among them, in 2016, the operating income of the company's integrated circuits increased by 20.92% compared with the same period of last year. The main factor in the growth of IC operating revenue is the significant increase in shipments of LED lighting driver circuits. At the same time, AC-DC, MCU, digital audio and video products have a certain degree of growth.
With the recovery of the domestic LED chip market, especially the rapid development of the high-density LED color screen market, Silan Microelectronics Hangzhou Silan Mingxin Technology Co., Ltd. on the one hand increased the market development efforts, accelerated inventory turnover, on the other hand Accelerated the construction of chip capacity. In 2016, the sales volume and output of LED chips increased by 236.98% and 108.98% respectively compared with the same period of 2015.
With the gradual release of new capacity, Silan Mingxin's profitability has improved; in the fourth quarter of 2016, Silan Mingxin's losses have narrowed significantly.
The data shows that the gross profit margin of Silan Micro LED products in 2016 was 6.27%, which was still 18.18 percentage points lower than the previous year. Among them, in 2016, the main LED epitaxial chip, Silan Mingxin's operating income was 288 million yuan, and the net profit loss was 59.15 million yuan. Meikale, which is mainly engaged in LED display devices, achieved operating income of 168 million yuan and net profit of 7.51 million yuan.
In terms of expansion projects, the Silan Mingxin LED production plant expansion project: the total investment of the project is 75 million yuan. As of the end of 2016, Silan Mingxin has completed the project investment of 751.445 million yuan, and the project progress is 99%.
The subsequent expansion project of Silan Mingxin LED chip: The total investment of the project is 270 million yuan (the original budget of the project is 80 million yuan, adjusted to 270 million yuan in 2016). By the end of 2016, Silan Mingxin has The investment in the project was 172,460,100 yuan, and the progress of the project was 65%.
In the past two years, the LED chip business has been the "pain point" of the Silan micro-business segment.
After the net profit in 2015 fell by more than 75%, Silan's performance in the first quarter of 2016 was not satisfactory. The continuous decline in performance is related to the drag on the performance of Silan Mingxin. Previously, the company is expected to suffer from a small degree of output and a large share of fixed costs, and there is still a certain degree of operational losses.
In the 2015 financial report, the increased competition in the LED chip industry and the large loss of the subsidiary Silan Mingxin during the reporting period were the main reasons for the sharp decline in Silan's net profit.
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