High Frequency Inverter Charger High Frequency Inverter Charger,solar inverter charger,Inverter Charger,High Frequency Car Power Charger SUZHOU DEVELPOWER ENERGY EQUIPMENT CO.,LTD , http://www.fisoph-power.com
Liard’s order for 6 billion LED lighting business has reached the end of the flowering season
On September 21, a group of ten institutional investors visited Liard for an on-site study. Liu Yang, Director of Corporate Investor Relations, welcomed the investors and provided a comprehensive overview of the company’s historical development. He also gave a detailed introduction to Liard's small-pitch TV technology, highlighting its innovation and market potential.
Following the initial meeting, the institutional investors engaged in in-depth discussions with Li Yajun, Secretary Li Nannan, and Liu Yang, the investor relations director. The conversation covered various aspects of the company’s operations, including financial performance, market strategy, and future growth expectations.
**Q: What is the latest order status?**
**Liard:** As of last weekend, our total orders reached 60 billion yuan, which aligns with our annual plan. This includes 2 billion yuan from lighting and 17.1 billion yuan from overseas markets, primarily through Pingda and its subsidiaries.
**Q: What are the targets after the annual report?**
**Liard:** We expect to achieve between 100% and 150% of this year’s target, particularly in the landscape sector, where we aim for 2 to 2.5 billion yuan.
**Q: How will increased financial payments to local governments affect the company?**
**Liard:** So far, we haven’t experienced any impact. Our lighting orders are around 200 million yuan, and since it’s not an infrastructure project, it remains unaffected. We are also exploring the PPP model, which minimizes the overall impact on us.
**Q: What do you think about the industry growth rate for small-pitch TVs?**
**Liard:** The period from 2016 to 2018 was a breakthrough for the industry, with growth rates consistently between 40% and 50%. The overseas market is still in the early stages, with only about 10% of Pingda currently involved. However, international recognition of small-pitch TVs is growing rapidly.
**Q: What about the price of light balls compared to competitors?**
**Liard:** Domestic prices are similar, but there is a significant difference abroad, largely due to purchasing volume and regional pricing strategies.
**Q: Why has the gross profit margin improved more than last year?**
**Liard:** The lighting segment has seen a profit margin increase of over 30%, and since it accounts for more than one-third of our revenue, it has significantly boosted the overall gross margin. We anticipate even better performance next year.
**Q: What are the key advantages of small-pitch TVs over competitors?**
**Liard:** Our product chain is well-established, and we have been researching and developing small-pitch technology since 2010, launching it in 2012. This gives us a strong market position and technological edge. Additionally, our global market layout provides a competitive advantage, especially in high-end markets where we face little competition abroad.
**Q: What is the procurement model for landscape lighting?**
**Liard:** EPC models are common, covering design, implementation, and maintenance. Qualification is a major factor in winning bids.
**Q: Can the company capture 70% to 80% of the landscape market?**
**Liard:** With the government’s large-scale energy stations, we already hold around 90% of the market share. Local characteristics often favor lower-end products, but we focus on higher-value segments.
**Q: What about commercial real estate?**
**Liard:** Developers usually purchase directly, though bidding is also common.
**Q: Are there new competitors emerging?**
**Liard:** Zhu Ming is still active in displays, while lighting may see some competition from companies like Huihui (300506).
**Q: What are the differences between domestic and foreign lamps?**
**Liard:** High-temperature lamps are similar, but yield rates differ slightly.
**Q: How are lamp procurement costs managed?**
**Liard:** We maintain long-term partnerships with domestic suppliers, ensuring stable supply and cost control.
**Q: Why did net profit grow faster than sales revenue in the first half of the year?**
**Liard:** Last year, the M&A company contributed significantly to revenue but little to profit. This year, the same company is contributing more to profit, which explains the growth difference.
**Q: What is the company’s future strategy in the cultural sector?**
**Liard:** Each city and project has unique features, but we see significant potential in the cultural sector, especially in terms of future performance contributions.
**Q: Will the company invest in VR experiences?**
**Liard:** We’ve established a dedicated VR business unit and plan to integrate it into our projects. We’ll set up experience zones in first-tier cities, focusing on reproducibility and collaboration with government and operational teams.
**Q: What is the current market share of LED, and how are prices trending?**
**Liard:** The industry is still relatively fragmented, but small-pitch technology is gaining traction. In the long run, market concentration will increase, and prices are expected to stabilize.
**Q: What are the expectations for overseas market growth?**
**Liard:** We have direct sales teams operating internationally, which supports our expansion efforts.
**Q: What are the expectations for small-pitch TV growth?**
**Liard:** Last year, we achieved around 50% growth, with 70% coming from the domestic commercial market. The civilian market is still untapped.
**Q: What are the main focuses of the company’s businesses?**
**Liard:** Small-pitch technology is in the late stage of development, and our R&D efforts are focused on maintenance and market readiness. Lighting is now starting to generate returns, and we are actively exploring large-scale resources. Our M&A strategy is centered on cultural tourism and the development of “happy cities,†integrating display technology with broader economic ecosystems. The night travel economy is already showing strong growth.
**Q: How long does it take to confirm income and receivables after winning a bid?**
**Liard:** It typically takes about six months to confirm income and up to two years to receive payment.