Jinko Electronics plans to increase 152 million net profit in 2015 by 6 times

On May 4, Jingke Electronics released the “Stock Issuance Plan”, which plans to issue no more than 66 million shares at an issue price of 2.3 yuan per share. The total amount of funds raised is expected to not exceed 152 million yuan. The purpose of raising funds is to supplement the company's working capital and expand the company's production and operation scale.

According to the announcement, in 2016, with the increase of orders from major customers in the first quarter and the opening of new large lighting customers, the company plans to expand the high-brightness LED packaging and module production line to expand the packaging production capacity. Equipment purchases are approximately $65 million.

As a research and development, manufacturing and sales company of LED devices, module light sources, optical components/light engines and intelligent lighting, Jingke Electronics belongs to the middle of the LED industry chain. The main customers are first-line well-known TV manufacturers (such as Skyworth TV, TCL, etc.) and well-known LED lighting companies (such as Philips Lighting, etc.). In LED backlights and LED package devices and components for lighting, Jinko Electronics uses its own brand to sell LED products.

Jingke Electronics is the unit of the National High-tech Research and Development Program (863 Program) and the unit of the “12th Five-Year” LED Support Project of the Ministry of Science and Technology.

The company said that the development of China's LED lighting industry is facing a significant historical opportunity. According to China CSAResearch statistics: In 2015, the overall size of China's semiconductor lighting industry reached 424.5 billion yuan, an increase of 21% over 2014. Among them, the output value of LED epitaxial chip link is about 15.1 billion yuan, an increase of about 10% compared with 2014; the output value of LED package reaches 61.5 billion yuan, an increase of 19%; the industrial scale of LED application field reaches 347.9 billion yuan, of which LED general illumination is still the market. The most important driving force for development, the output value reached 155.2 billion yuan, the growth rate was 32.5%, the penetration rate exceeded 30%, and the proportion of the application market also increased from 41% in 2014 to 45% in 2015.

From the perspective of the industrial cycle, since 2009, China's LED industry has experienced a round of “over-investment – ​​capacity digestion – price decline – terminal demand growth” industrial chain transmission. Since 2012, China's LED industry has begun to enter a track of healthy growth. The rapid growth is mainly due to the demand for LED applications at home and abroad, especially the growth of LED backlight and LED lighting applications, providing effective support for the development of LED industry.

In addition, the application of LED automotive lighting, medical, agricultural and other emerging fields is also constantly expanding. The application of smart lighting, optical communication and wearable devices has become a new highlight of LED applications in 2014.

In 2015, the company achieved operating income of 309 million yuan, a year-on-year increase of 43.42%; net profit was 11.37 million yuan, an increase of 619.33%. The company listed the new three board on April 29, 2016.

The total number of shares issued for this stock is not more than 66 million shares, and the issue price is 2.3 yuan per share. The total amount of funds raised is not expected to exceed RMB 152 million. The company's main business is the development, production and sales of LED devices, components and application systems. The purpose of raising funds for this stock is to supplement the company's working capital and expand the company's production and operation scale. In 2015, the company achieved operating income of 310 million yuan, net profit of 11.37 million yuan, and earnings per share of 0.05 yuan.

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