In the past two days, eight companies including Weiwei Co., Ltd., Changfang Group and Zhaochi Co., Ltd. successively released the first half of 2018 performance forecast or amendment notice.
Among these companies, the net profit of six companies including Weiwei and Guangdong Ganhua showed different degrees of decline. Only Huacan Optoelectronics and Alto Electronics showed an upward trend. In terms of net profit, Huacan Optoelectronics is in a better situation.
Huacan Optoelectronics
On July 13, Huacan Optoelectronics released a performance forecast. The company expects net profit attributable to shareholders of listed companies from January to June 2018 to be 219.63 million to 33.48 million, an increase of 35%-55% over the same period of the previous year.
The main reasons for the growth of Huacan Optoelectronics during the reporting period are as follows:
1. During the reporting period, the LED industry maintained a high level of downstream, such as small-pitch LED, urban landscape lighting, automotive LED lighting and Other sub-sectors, the demand for LED chips is also strong, compared with the new capacity release this year The overall production and sales rate continued to be good, driving the company's sales revenue growth in the first half of 2018.
2. Although the price of LED chips declined during the reporting period, the company's overall gross profit margin of the LED business remained good due to the continuous decline in cost and the continuous improvement of light efficiency brought by technological innovation, coupled with the continued expansion of sales of high-margin products.
In May, 2015, Meixin Semiconductor achieved consolidated results, which contributed to the company's gross profit margin increase and net profit during the reporting period.
4. During the reporting period, the company's sales expenses and financial expenses increased significantly, mainly due to the expansion of scale and the entry of new project loans into the interest-bearing cycle. At the same time, due to large exchange rate changes, the company's US dollar debt is large, which has a greater impact on the company's operating performance. The combined loss due to exchange rate changes in the second quarter of the second quarter was approximately 45 million.
Alto Electronics
On July 14, Alto Electronics announced the amendment of the performance forecast. The company expects net profit attributable to shareholders of listed companies from January to June 2018 to be 80 million to 100 million, an increase of 30.98%-63.73% over the same period of the previous year.
According to preliminary calculations, Alto Electronics' operating income in the first half of 2018 increased significantly compared with the same period of last year. Operating cash flow improved significantly compared with the same period of last year, but the growth rate of net profit did not reach expectations. The main reason was the change in the company's operating income structure during the reporting period. As a result, the overall gross profit margin was less than expected, and sales expenses and R&D investment were higher than expected.
Zhaochi shares
On July 14, Zhaochi Co., Ltd. issued a performance forecast. The company expects net profit attributable to shareholders of listed companies from January to June 2018 to be 229,459,900 to 327,797,000, a decrease of 30%-0% from the same period of the previous year.
Zhaochi said that the company focused on its main business and solidly promoted various work. The sales of its products were relatively stable. The operating income from January to June 2018 was about 5.6 billion yuan, an increase of 49% over the same period of the previous year. However, on the one hand, due to the rising cost of various raw materials, the unit price of commodities decreased, resulting in a decrease in gross profit margin of products; on the other hand, due to the exchange rate loss caused by fluctuations in the RMB exchange rate, the financial expenses increased compared with the previous year, so it was attributed to the shareholders of listed companies during the reporting period. Net profit has declined.
Rectangular Group
On July 13, the Changfang Group issued a performance forecast. The company expects net profit attributable to shareholders of listed companies from January to June 2018 to be 7.5 million to 11 million, down 10.72%-39.13% from the same period of the previous year.
The Changfang Group said that the decline in performance in the first half of 2018 compared with the same period last year was mainly due to the following reasons:
1. The holding company Shenzhen Kangmingsheng Technology Industrial Co., Ltd. completed its 2014-2015 performance commitment period. Compared with the same period of last year, the performance of the first half of 2018 has not changed much and remained basically stable.
2. The listed company optimizes the shareholder structure and adjusts the strategic thinking of the new major shareholder. In the first half of 2018, the company gradually adjusted the existing product structure of the parent company to reduce and destock the low-end LED light source packaging products with poor profitability. Although it led to a decrease in the profit level in the first half of 2018, this move laid the foundation for the company's follow-up product upgrade and sustainable development.
3. The income from wealth management investment decreased by about 40% compared with the same period of last year. It is estimated that the impact of non-recurring gains and losses on net profit in the first half of 2018 is about 8 million yuan.
Changying Precision
On July 13, Changying Precision released a performance forecast. The company expects net profit attributable to shareholders of listed companies from January to June 2018 to be 52.94 million to 235.53 million, down 85%-65% from the same period of the previous year.
There are two main reasons for changes in company performance:
1. Domestic products of major products are less than expected.
2. A number of international customers' new products and new energy auto parts products are in the development stage.
In addition, the company also mentioned that the impact of non-recurring gains and losses on current operating results was approximately RMB 22.62 million.
Wei Wei
On July 13, Weiwei Co., Ltd. issued a performance forecast. The company expects the net profit attributable to shareholders of listed companies from January to June 2018 to be 10 million to 40 million. Compared with the same period of last year, it decreased by 95.57%-82.27%.
Weiwei shares have three explanations for the change in performance:
1. Affected by the national macro-policy, financial “de-leverage†and the introduction of the national 5.31 PV new policy, the company's main EPC cooperation customers are in tight capital, and the scale of power station investment has declined. As a result, the company's EPC business has been reduced in the first half of the year and its revenue has decreased.
2. The cost increases during the period. Due to rising financing costs, financial expenses increased; in the first half of the year, the company increased investment in research and development of power lithium battery products, resulting in an increase in research and development costs.
3. The estimated impact of non-recurring gains and losses on the company's net profit is RMB 22 million.
Jucan Optoelectronics
Jucan Optoelectronics released a performance forecast. The company expects a net profit loss of 8 million yuan to 12 million yuan attributable to shareholders of the listed company from January 1, 2018 to June 30, 2018, while the profit for the same period last year was 55,765,300. yuan. It is estimated that the impact of non-recurring gains and losses on net profit from January to June 2018 will be approximately RMB 10.4 million.
For the change in performance, Jucan Optoelectronics believes that there are three reasons:
1. Affected by the development of the industry and the intensification of market competition, the price of products in this period has been adjusted, resulting in a decline in gross profit margin and a sharp drop in gross profit.
2. With the development of business needs, the company's management personnel increased, and management expenses increased significantly;
In order to supplement the insufficient working capital, the company increased the amount of debt financing, which led to an increase in interest expenses. At the same time, due to exchange rate fluctuations, the exchange loss in the current period increased compared with the same period of last year.
Guangdong Ganhua
On July 14, Guangdong Ganhua issued a performance forecast. The company expects net profit attributable to shareholders of listed companies from January to June 2018 to be -31 million to -42 million, down 54.38%-109.16% from the same period of the previous year.
The main reasons for the company's estimated operating loss during the reporting period were:
1. Guangdong Jiangmen Biotechnology Development Center Co., Ltd., a wholly-owned subsidiary, suspends production, and needs to accumulate large amounts of asset impairment provisions and staff placement fees.
2. The “Yunxin-Hongrui 24 Collective Fund Trust†products purchased by the company suffered a large loss.

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