Tongfang Youyou's 2015 revenue stable gross profit improvement to improve performance

On March 22, Tongfang Youyou (01868) released its 2015 annual results announcement. The announcement shows that the revenue for the year ended December 31, 2015 was approximately RMB 602.4 million, which was stable compared to approximately RMB 558.2 million for the nine months ended December 31, 2014.

The gross profit for the year ended December 31, 2015 was 167 million yuan, a significant increase from the gross profit of 484.08 million yuan in 2014.

Tongfang Youyou said that the main reasons for the change in performance were: (1) selective acceptance of orders (the Group adopted a prudent order processing method during the year to select orders with relatively high gross profit margin); (2) economic relatives of some European countries The ground is slowing down.

As of December 31, 2015, the Group's chief operating decision makers have changed the structure of their internal reports that are regularly reviewed during the resource allocation and assessment of segment performance. The incandescent decorative light segment is incorporated into the LED decorative light segment, while the LED general lighting segment is combined with the stage light segment to form a general lighting segment.

Tongfang Youyou, formerly known as China's lighting overlord "Zhen Mingli", in August 2014, Tongfang Co., Ltd. (formerly known as Tsinghua Tongfang Co., Ltd., hereinafter referred to as "Tongfang Shares") subscribed for the 1 billion new shares issued by Zhen Mingli, accounting for its issuance. After 51.6% of the shares, Zheng Mingli became the controlling shareholder. In December of the same year, Zhen Mingli Holdings Co., Ltd. was renamed Tongfang Youyou Holdings Co., Ltd. Since then, the industry has also paid close attention to the specific direction of the lighting hegemony after entering the same party.

In 2015, Tongfang Youyou ushered in a new helm. The former chairman Lu Zhicheng retired due to age. The company issued a notice to appoint Fan Xin, the president of Tongfang, as the executive director and chairman of the board.

Therefore, this change coach, Tongfang Youyou ushered in the new helmsman, Fan Xin can continue the original good state, break the bottleneck, and achieve greater breakthroughs, but also received much attention.

Before holding Zhenmingli, since 2006, Tongfang has owned a substrate (Tongfang Guoxin), epitaxial chip (Nantong Tongfang Semiconductor), display backlight (Shenzhen Tongfang Optoelectronics), and lighting engineering (Tongfang Optoelectronic Environment) in the LED field. Other industries, together with the lighting overlord Zhen Mingli, have built a more complete industrial chain in the LED field, greatly enhancing the competitive advantage. However, the data shows that the financial situation itself is not optimistic, after the real Ming Li, the annual results for the nine months ended last year, turnover of 558 million yuan (RMB, the same below), a loss of 196 million yuan.

However, according to the 2015 mid-year report, as of the end of June, the medium-term loss from profit to profit, the loss of 156 million yuan in the middle of last year, the net profit in the middle of 2015 was 3.379 million yuan, the situation began to improve. However, the effect of 1+1>2 has not been achieved.