Due to a large amount of orders, Owens became a "dark horse" in the LED industry in the first half of this year.
On June 13, LED New Third Board listing company Owens (836614, OC) announced that it had received a contractual agreement from Shanghai Gaoyuan Investment Development Co., Ltd. on annual orders. Shanghai Gaoyuan Investment is expected to be between 2016 and 2019. The total contract amount for the 3-year contract totaled 8.695 billion yuan.
Aoqis announced a fixed plan on August 23. The company intends to issue no more than 80 million shares to investors who meet the conditions, the financing amount does not exceed RMB 64 million, and the issue price of the shares is 8.00 yuan.
In the program, the company stated that the funds raised for this purpose are mainly used for the company to expand the automated production line, open up the global market, and supplement the working capital.
In the first half of the year, Otis realized operating income of 531 million yuan, a year-on-year increase of 256.61%; net profit of 64.236 million yuan, an increase of 850.25%; net cash flow from operating activities was 19,177,800 yuan, a year-on-year decrease of 73.24%, the company said the main system During the reporting period, the purchase and purchase of materials for production and management increased significantly, and the collection period became longer.
In terms of specific business, LED lamps accounted for 443 million yuan, accounting for 84.54% of the company's main business income.
The company's operating income increased by 256.61%, mainly due to: (1) In the report period, the company successfully developed new products of T-lamp series, and the newly developed CSP packaging technology was applied to the bulb series, and the research and development speed was obviously accelerated. (2) The company vigorously explored domestic and foreign markets to increase the sales revenue in the current period.
In this semi-annual report, Ochs did not publicize the product gross margin data. The reporter initially estimated that the gross profit margin of its LED products in the first half of this year was 22.8%, down 10.5 percentage points from the same period of last year. The decrease in gross profit margin was mainly due to the difference in product structure and the increase in the ratio of products with lower gross profit.
Earlier, some media reported that "price civilians" and "high cost performance" have always been the highlights of Aoqisi products. At the same time, Owens' gross profit margin, from the perspective of external public data, actually outperformed most listed LED companies on the basis of “high cost performanceâ€.
As of June 30, 2016, the company's accounts receivable balance was 271 million yuan. According to the report, although the company has established a relatively complete risk credit management system and the historical bad debt rate is low, the balance of accounts receivable of the company at the end of the period is large. In the future, if the customer defaults on the payment of goods, the company's accounts receivable will not be able to be made. The risk of recovery.
At the same time, in terms of corporate cash and cash equivalents, the company's cash ending balance at the end of the first half of the year was 470,500 yuan, a decrease of nearly 13 million yuan from the beginning of the year; assets with limited ownership or use rights at the end of the period were 740 million yuan, accounting for the company's total assets. 50%; In addition, since the company's production line equipment is obtained through financial leasing, its long-term payables are 367 million yuan.
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