Three major business to achieve greater growth
During the reporting period, the revenue from the company's 2017 revenue was 15.925 billion yuan, a year-on-year increase of 32.14%, and the net profit after deduction was -214 million yuan, a year-on-year decrease of 200.07%. Leading the puzzle to increase revenue and net profit growth. The matching matters indicated that the main reason for the increase in operating income in 2017 was the precision structural parts business, the growth of trade and logistics services business and display materials and touch devices business.
In 2017, the precision structural parts business was operated by Dongfang Liangcai, a subsidiary. The revenue from its precision structural parts business increased by 53.68% compared to 2016. The end brand customers of Dongfang Liangcai's main services included OPPO and Xiaomi, and their 2017 shipment performance. Stronger. The market demand for upstream precision structural parts has also continued to increase due to the continuous increase in handset shipments to downstream end customers.
In 2017, the trading and logistics service business was operated by its subsidiary, Zhong An. The operating revenue increased by 42.58% compared to 2016. The main reason was that after the company acquired multiple subsidiaries, the overall asset size and profitability continued to increase, and the company and banks financed. Institutional cooperation has become more stable. The loans obtained from banks are larger and the interest rates are relatively low. The company has more funds to invest in trading business.
In 2017, the display materials and touch device business was operated by the subsidiary Dijing Optoelectronics, and its operating income increased by 14.48% compared with 2016. The main reasons are: 1. The terminal customers of display materials and touch devices downstream include Huawei, voice, etc. Brand, 2017 market demand continues to increase, making the industry orders for display materials and touch devices grow rapidly; 2. The company actively expands downstream new application areas. In 2017, the company's sales in the vehicle display field increased by 191 million yuan compared with 2016. The growth rate is as high as 143%. 3. In 2017, in 2017, the supply of global low-generation line panel capacity was tightened. At the same time, the demand for high-end panels for terminal products and technology upgrades increased. The unit price of the company increased significantly, and customer orders increased.
Stable in the first three quarters of 2017, large loss in the fourth quarter
In the fourth quarter of 2017, Linzhizhizhi made a larger change in net profit, and the first quarter to the third quarter were relatively stable. The main reasons for the large loss after the adjustment in the fourth quarter were as follows: Subsidiary company rewards for accomplishment were accrued; In addition, in 2017, Lingzhi Zhizou implemented a major asset reorganization to acquire 100% equity of Leadey Technology, resulting in a significant increase in the administrative expense ratio in the fourth quarter.
In addition, the gross profit margin of the four major business segments in the fourth quarter of 2017 was 9.44%, lower than the 10.13% for the full year. The decline in gross profit ratio in the fourth quarter was mainly due to the decrease in the company’s orders in the fourth quarter. , The company's capacity utilization rate decreased, the fixed cost was higher, and the gross profit rate of precision structural parts decreased.
Oriental Bright and Huawei, 360, Mito and other customers reached a cooperation
In addition, according to IDC's forecast, as the global smart phone market will pick up in 2018, Dongfang Liangcai has entered into a cooperation agreement with new customers including Huawei, 360 Mobile Phones and Mito Mobile, and has entered into the pilot production stage or achieved order production. Started sales. One of them reached a cooperation agreement with Huawei to enter the trial production stage; and 360 mobile phone manufacturers have already made trial production orders; and Mito mobile phone manufacturers have started cooperation in 2017 and currently have production orders.
Among the new customers developed, it is expected that there will be a larger sales volume in 2018. The orders of new customers are basically in the negotiation or proofing stage in the first quarter of 2018, so the orders and sales are relatively small, and it is expected that the sales in the second half will be There is a large increase. At the same time, electronic products have a certain seasonality. In the first half of the year, they were off-season and sales in the second half of the year were significantly higher than in the first half of the year. Therefore, it is reasonable to expect that the sales growth rate of plastic precision structural parts in plastics in 2018 will be 3%.