Guoxing Optoelectronics' revenue in 2010 was 877 million, a year-on-year increase of 39.7%.

On March 8, 2011, Guoxing Optoelectronics (002449) officially released the 2010 annual report. In 2010, the company realized operating income of 877,465,500 yuan, an increase of 39.74% over the previous year. The total profit was 175,489,400 yuan, an increase of 27.70% over the previous year; The net profit of the shareholders of the listed company was 147,379,100 yuan, an increase of 28.28% over the previous year; the basic earnings per share was 0.81 yuan; the weighted average return on equity was 13.24%, and the operating performance continued to grow.

SMD device gross profit decline main business income increased by 40%

In 2010, the company's main business income increased by 40.00%, mainly due to the company's expansion of TOP LED sales revenue increased by 20,042.6 million yuan, making the main business income increased by 32.09% over the previous year;

The sales revenue of SMD LED component products such as lighting and lighting increased by RMB 61,245,900, which increased the income from the main business by 9.81% over the previous year;

The gross profit margin of LED devices decreased, mainly due to the promising TOP LED of the company's expansion market. In order to expand market share, the sales price was actively lowered, the sales volume of products increased significantly, and the gross profit margin decreased.

The gross profit of LED components has increased, mainly due to the strong individualization of components and the introduction of new products by the company;

The gross profit margin of processing has declined, mainly due to structural changes in processed products.

Inventory increased by 109.24% year-on-year

The report shows that the company's inventory in 2010 increased by 109.24% year-on-year. The main reasons were as follows: First, the company's production scale expanded, chip supply was tight, and raw materials increased by 22,246,300 yuan, which increased the inventory by 19.47% compared with the end of the previous year; Increased by 792.99 million yuan, the inventory increased by 6.94% compared with the end of the previous year; second, because the chip parameters have a certain degree of dispersion, about 70% of the TOP LEDs produced by the same batch of chips are concentrated in the same gear, which can be sold as scheduled. For the order customer, the remaining products will be inventories in the short term, and will be sold to customers with corresponding gear requirements. The company's TOP LED production increased by 234.42% year-on-year, and finished products increased;

The first batch of MOCVD of Xurui Optoelectronics arrived in November 2010 and there is no revenue.

Xu Rui Optoelectronics Co., Ltd., which holds 15% of the company's shares, as of December 31, 2010, the company's total assets were 394,142,800 yuan, liabilities were 92,182,600 yuan, and net assets were 30,253,200 yuan. Since the first batch of the main production equipment MOCVD arrived in November 2010, it entered the stage of installation and commissioning, and production and sales have not yet been formed. Therefore, no operating income was realized in 2010. However, due to the administrative expenses and financial expenses incurred in installation and commissioning equipment and other aspects, a loss of 4,608,500 yuan was incurred in 2010.

Some fundraising projects did not meet the expected targets

The company promises to use the raised funds to invest in four projects, namely “new surface mount LED technology transformation project”, “power LED and LED Light source module technology transformation project”, “LED backlight technology transformation project” and “semiconductor”. Key technologies and industrialization of lighting fixtures."

Among them, the “new surface mount light-emitting diode technology transformation project” invested RMB 97.24 million in this year. As of December 31, 2010, the accumulated investment was RMB 134,270,500, and the investment progress was 69.97%. The realized benefit of this year was RMB 48,886,300. Seeing that the project has basically achieved the expected benefits.

"Power LED and LED light source module technical transformation project" invested 89.825 million yuan this year. As of December 31, 2010, the accumulated investment was 8.892 million yuan, the investment progress was 5.14%, and the project reached the scheduled usable status date is December 2012. Because the project investment has not reached the production stage, the project benefits have not yet been generated.

The “LED backlight technology transformation project” invested 957,100 yuan this year. As of December 31, 2010, the accumulated investment was 7,427,400 yuan, and the investment progress was 9.95%. The project reached the scheduled usable status date in December 2012 due to project investment. The project has not yet reached the production stage and has not yet produced project benefits.

The “Key Technology and Industrialization of Semiconductor Lighting Fixtures” project invested 2.265 million yuan this year. As of December 31, 2010, the accumulated investment was 2.265 million yuan, the investment progress was 4.17%, and the project reached the scheduled usable status date in December 2011. Project benefits have not yet been generated because the project investment has not reached the production stage.

For several projects that did not meet the planned progress or expected benefits, the report explained that the company obtained the land for the investment project located on the north side of Jihua 2nd Road and the east side of Fokai Expressway in 2008, and the season in 2010. The land on the north side of Hua Er Road and the west side of Huabao South Road are connected. In order to improve land use efficiency, the two cities need to re-unify the planning and construction. It is expected that the plant infrastructure will be completed in the second half of 2011 to mid-2012, resulting in the company's “power type”. Two fund-raising projects for LED and LED light source module technology transformation project and LED backlight technology transformation project failed to carry out investment construction as planned.

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