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Weiwei Co., Ltd. recently announced its semi-annual report. Due to the decrease in orders from major customers, the company's operating income and net profit during the reporting period showed different degrees of decline compared with the same period of last year. It is worth noting that the company has increased the overseas market development of LED commercial lighting products.
Net profit in the first half of the year decreased by 94.21
In the report, the company achieved a business income of 207 million yuan, a year-on-year decrease of 54.63; net profit of 3,341,100 yuan, a year-on-year decrease of 94.21. The company listed in May this year announced its position in July. In the half-year, the performance of the face has changed dramatically, and the market is in turmoil. In the secondary market, Weiwei has fallen 37.69 since its listing, and the current price is 26.36.
Wei Wei shares announced on July 14 that it expects net profit attributable to shareholders of listed companies in the first half of 2012 to be 2.4 million to 3.4 million yuan, down 94.12~95.85 year-on-year. This performance was released in the first half of this year. The decline in performance forecast was the biggest, and Weiwei became a well-deserved new stock.
Yan Wei shares suddenly announced that the performance of the face changed, the market was caught off guard, the stock fell on the day of the announcement, and continued to fall 7.51 on the next trading day.
From the prospectus and listing announcement previously disclosed by Weiwei, there was no risk warning for the performance of the first half of the year. In 2009 and 2010, the net profit of Weiwei shares increased by 36.5 and 114.7 respectively compared with the previous year. Weiwei shares said in its prospectus that it will increase its profitability in the next three years and achieve an average annual growth of 30% in revenue and profit of its main business. .
In fact, a careful analysis of the prospectus of Weiwei shares can be found that Weiwei shares have shown signs of weak growth before listing. From 2009 to 2011, the company's operating income was 396 million yuan, 602 million yuan and 604 million yuan respectively, and the net profit was 2,953,800 yuan, 5,567,700 yuan and 57,315,500 yuan respectively. The net profit growth rates in 2010 and 2011 were respectively. For 101 and 2.95, it can be seen that after the rapid growth of Weiwei in 2010, the growth in 2011 was almost stagnant.
Not only that, the company's net profit for the first half of 2011 was 57.8 million yuan, and the annual net profit was 57.315 million yuan, which means that the company had a loss in the second half of last year; in the first quarter of this year, the net profit of Weiwei shares continued to fall by 27.97. Up to 18 million yuan.
According to the data from 2009 to 2011, the sales revenue in the peak season accounted for 74.51, 76.68 and 89.97, respectively. According to the analysis, the performance in the peak season has dropped sharply. Perhaps the overall performance of Weiwei shares has improved this year. difficult.
LED products are deeply rooted in overseas markets. From the annual report, the hurricane weather in the United States in 2011 has caused the company's main solar lighting business to suffer heavy losses. According to the company's board of directors, during the second half of 2011 to the first half of 2012, the US retail sales did not meet expectations and in the process of destocking, the external procurement volume decreased significantly during the reporting period, but the company's competitiveness and market position did not Affected, the relationship with major customers remains solid. He also said that as the major customers' destocking process is coming to an end, the demand for orders in the second half of this year is expected to gradually return to normal.
In addition, the company invested a large amount of money to develop new LED low-voltage lawn lamps, and has completed the first round of product development, which is expected to become a new profit growth point in the company's lawn lamp series.
The annual report shows that Weiwei has recruited a large number of LED lighting R&D talents since 2011 and established a domestic advanced optical laboratory. During the reporting period, more than ten LED commercial lighting products have been developed and put into the market, the first batch of 1.2 million US dollars. LED lighting orders have been exported to the United States from the end of July to mid-August last year. The official entry of LED commercial lighting products into overseas markets is of great significance to the company's future business development.
As the leader of the solar lighting industry in North America, the largest market for Weiwei shares in the future may still be the United States, but the company's business has now accelerated to Europe and the domestic market. According to the company's directors, Europe is the second largest solar lighting market after the United States. The successful experience of replicating the US market is the basic strategy for entering the European market. Wei Wei has officially launched the European market expansion in the first quarter of this year. It should be pointed out that, unlike the US market in which Wei Wei has been advancing for more than a decade, the company's entry into the European market will not only promote solar lighting products, but also newly developed LED products will enter simultaneously.
In addition, the anti-dumping issue of PV companies that are generally concerned about the outside world, Wei Wei shares responded that the company is engaged in the solar lighting industry, mainly the application of solar cells, and has not been affected by the anti-dumping of European and American PV companies.