Dehao Runda invested 800 million yuan in this year to switch to LED

In just one year, the LED industry revenue has begun to take shape, and the determination of Dehao Runda (002005.SZ), a leading small appliance company that turned losses last year, to become more stable in the LED industry.

Today, the 2009 financial report released by Dehao Runda shows that last year's revenue was 1.922 billion yuan, down 23.81% year-on-year. Net profit was 48.99 million yuan, up 178.51% year-on-year. It successfully turned losses into profit, including LED industry revenue of 172 million yuan. It has grown by 135 times year-on-year and has begun to take shape. In 2008, Dehao Runda lost 62.4 million yuan.

According to the financial report, as the profitability of the LED industry is significantly higher than that of the small household appliance business, the company's operating performance has rebounded significantly during the reporting period after a sharp loss in the previous year. Therefore, this year, Dehao Runda will continue to implement the small household appliances and LED dual main business strategy.

On the one hand, the stable development of small household appliances business, the export orders for small household appliances business increased by about 20% compared with last year, domestic sales reached more than 200 million yuan; on the other hand, continue to vigorously develop the LED industry, it is expected that this year's annual capital expenditure plan will It has reached 800 million yuan.

“This year, we will strive for some production capacity of Wuhu and Yangzhou projects to enter the trial production stage.” Dehao Runda executives said that the company will actively implement the cooperation agreement with South Korea’s EPIVALLEY company this year to enable Dehao Runda’s LED chips and out-of-band projects. As soon as possible, the company will strive to make Dehao Runda become the LED epitaxial wafer and chip manufacturer with the highest level of technology, the best operational efficiency and legally authorized to use international patents.

The executives pointed out that the company will rapidly expand the influence and market share of Dehao Runda in the LED display and lighting products market through reasonable mergers and acquisitions. It is reported that Dehao Runda has spent RMB 123 million to acquire the assets of Guangdong Jianlongda Optoelectronics Co., Enping Jianlong Circuit Board Factory and Shenzhen Ruituo Display Technology Co., Ltd. last year to expand its LED business.

"If small appliances are in the Red Sea market, then LED is still blue ocean." Wang Haolei, chairman of Dehao Runda, once described the future of the LED industry, and Dehao Runda’s financial report last year also showed that its gross profit margin for small household appliances was only 20.11. %, while the integrated gross profit margin of LED products is 38.11%.

Perhaps based on this, Dehao Runda is accelerating the pace of its LED industry.

On February 1, Dehao Runda Wuhu LED Optoelectronic Industry Base with a total investment of 6 billion yuan was officially launched. According to the plan of Dehao Runda, the LED chip project of the base is planned to invest 500 million yuan. The annual average sales revenue will reach 487 million yuan after the completion of production. The LED packaging project plans to invest 570 million yuan. After completion, the annual sales revenue will reach 1.92 billion yuan; LED lighting project plans to invest 533 million yuan, after the completion of the annual sales revenue will reach 1.8 billion yuan.

In fact, Dehao Runda's strength is largely dependent on the “Ten Cities and Ten Thousand Cities” program of the Ministry of Science and Technology, which promotes LED lighting in 21 cities across the country. This is a market of 500 billion yuan.

Dehao Runda's big hand is also sought after by the capital market. Yesterday, Dehao Runda closed at 18.22 yuan, compared with the lowest price of 2.15 yuan in October last year, an increase of 7.5 times, known as one of the most stocks in the 2009 A-share market.

However, Dehao Runda is not without risk in moving to the LED industry. Zhang Xiaofei, CEO of Gaogong LED, told the “First Financial Daily” that due to the problems reflected in the “Ten Cities and Ten Thousand Cities” pilot cities last year, it can be said that there is currently no LED street light enterprise that has truly “passed through” and fully solved all the LED street lights. problem.

In addition, there are currently more than 500 LED street lighting enterprises in the country. Due to the plethora of porridge, the mature LED companies adopt the first-package trial in the competition, with a view to pre-emptive, the result is bigger, and the loss is bigger. There are still many companies that do not have enough practical experience, and the street lamps that are made are unqualified and cannot be sold; those who make qualified products are also unable to sell because of local protectionism.

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