Wanrun Technology: Endogenous and Epitaxial Drives High Growth in 2015

The 2014 annual report was lower than expected. During the reporting period, the company achieved operating income of 523 million yuan, an increase of 19.91% over the same period of the previous year; net profit of 39 million yuan, down 10.58% over the same period of last year, of which the net profit attributable to shareholders of listed companies was 40.4 million yuan, compared with the previous year. The decline was 9.10% over the same period. The lower-than-expected results were mainly due to the fact that LED lighting products did not increase in 2014, and the revenue growth rate was only 1.2%. Coupled with the relocation of the company's factory buildings at the end of 2014, non-recurring losses occurred during the relocation process.

The growth of LED lighting products has driven the company's high growth in 2015. Under the condition of steadily developing medium and high-end packaged devices, the company launched LED lighting products in 2015. The domestic lighting market continues to innovate business models, providing EMC lighting energy-saving renovation for Jingkelong, Shibao Department Store, Rizhao Department Store, Wanda Department Store and many other supermarket chains, and the BT model to contract the Xiantao City Housing and Urban-Rural Development Committee The city's urban road lighting construction project won the bid for projects such as China Southern Power Grid, Dongguan Metro, and Shenzhen Guangming New District Street Light Project. It is expected that the LED lighting products will drive high growth in 2015.

The 2015 outsourcing is worth looking forward to. The company has clearly stated that it will strengthen the restructuring of high-quality target companies with core cutting-edge technologies, mature channels or brands in the LED downstream application industry, and carry out vertical integration within the LED industry chain or supporting integration of peripheral industries. Give full play to scale effects and differentiated complementary effects to enhance the company's comprehensive competitiveness in the LED industry.

The stock chips are scattered, and the institutional shareholding ratio is very low. It is unlikely that the stock price will fall sharply due to the change in market style. Due to changes in the overall market style in the fourth quarter of 2014, the company's institutional shareholding ratio is very low, the chip distribution is very scattered, the institutional game component has been minimized, and the possibility of a sharp drop in stock prices due to the influence of style changes is extremely low.

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