[Text / high-tech LED Zhao Hui] In the tide of LED mergers and acquisitions, the merger and acquisition of restructuring has become an important means for enterprises to quickly enter the LED market and expand the scale of production and sales.
Furi Electronics (600203.SH), which is mainly trade-oriented, is undoubtedly the master of this. With the help of Mai Rui Optoelectronics and Yuanlei Technology, the company's LED business has grown more than 2 times in the first half of this year.
On the evening of August 23, Furi Electronics disclosed the 2015 semi-annual report. According to the financial report data, Furi Electronics' operating income in the first half of the year reached 3.095 billion yuan, a year-on-year increase of 140.12%; the net profit attributable to shareholders of listed companies was 23.624 million yuan, an increase of 302.77% over the same period last year.
Among them, LED photoelectric and green energy environmental protection industry revenue was 381 million yuan, an increase of 67.43%, and the gross profit margin was 19.06%.
Furi Electronics said that in the first half of 2015, the company actively promoted internal asset integration and corporate integration, promoted asset integration of LED packaging companies and application products companies, and further optimized the integration of packaging, large screen and lighting products, and engineering projects. LED optoelectronic industry chain;
According to the disclosure, the subsidiary Mairui Optoelectronics steadily expanded its existing display business, further improved the research and development and marketing of small-pitch products, and expanded the market share of its products at home and abroad. Mai Rui Optoelectronics Huizhou LED Optoelectronic Industrial Park was initially launched in June. Put into use.
Another acquired subsidiary, Yuanlei Technology, is implementing LED lighting and backlight packaging product expansion projects to increase production capacity.
The original subsidiary, Furi Lighting, is strengthening the establishment of the marketing system and the integration of the marketing platform, segmenting the market for different application areas, and vigorously expanding the marketing channels inside and outside the province.
According to the financial report data, from January to June 2015, Mairui Optoelectronics completed operating income of 222 million yuan and realized net profit of 188.102 million yuan; Yuanlei Technology's operating income was 144 million yuan and net profit was 11.3502 million yuan.
The original LED subsidiaries of Furi Electronics, Furi Lighting, Furi Photoelectric, and cross-strait lighting, respectively lost RMB 4,451,500, RMB 922,170 and RMB 3,413,600.
The effect of the merger is obvious.
In July 2013, Furi Electronics acquired the display company Mairui Optoelectronics. In October 2014, it acquired a 51% stake in Yuanlei Technology, a packaging company, for 120 million yuan.
In the first half of this year, Furi Electronics acquired the communication company Zhongnuo Communication, which made Furi Electronics' communications and smart home appliance business revenue jump from 60 million last year to 840 million yuan.
The medium-term gross profit of the trading business, which accounts for 60% of Furi Electronics' revenue, is only 0.86%, and the gross profit of the communication and smart home appliance business is less than 10%. This shows the profit margin of the original business of Furi Electronics.
For Furi Electronics, whether it is the acquisition of Mairui Optoelectronics, Yuanlei Technology, or the acquisition of Zhongnuo Communication, it is based on the urgent need to find new profit growth points.
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