Furi electronic LED M&A profit integration into the future

[Text|High-tech LED reporter Luo Shenghua] Furi Electronics (600203.SH), which has been losing money for many years, has finally turned over in the LED business after acquiring the two companies, Mairui Optoelectronics and Yuanlei Technology.

Recently, Furi Electronics released its 2014 annual report. The announcement shows that in 2014, the company achieved a total operating income of 3.511 billion yuan, an increase of 40.48% compared with the same period of last year. The net profit attributable to shareholders of listed companies was 78.751 million yuan, an increase of 2.98% over the same period. .

It is worth noting that although Furi Electronics has increased its net profit, it seems that it is difficult to break the loss curse that has been in business for many years.

The report shows that after deducting non-recurring gains and losses, Furi Electronics' net profit was -556.571 million yuan, which was in negative growth. This means that if you simply look at the company's operations, the company is actually in a loss state, the amount of losses reached 55,557,100 yuan, and as early as 2012 and 2013, the company's loss has reached 71.692 million yuan, 99,695,900 respectively. yuan.

For the changes in operating income and profit in 2014, Furi Electronics explained that in recent years, it has made good progress through extensional expansion. New M&A companies such as Mairui Optoelectronics and Yuanlei Technology are in good operating condition, which promotes the growth of production and sales of related businesses. .

LED substantial growth in business performance <br> <br> Although Furi Electronics principal operations include optoelectronic and LED Green environmental protection, communications and intelligence appliances, domestic and foreign trade supply chain business, but its performance this year in terms of LED particularly rosy.

The report shows that in 2014, the company's total business was 3.511 billion yuan, of which LED photoelectric and green energy environmental protection business totaled 540 million yuan, an increase of 264.27%.

In 2013, the company's total business in LED optoelectronics and green energy environmental protection business was 148 million yuan.

In 2012, the sales revenue of Furi Lighting, a subsidiary of LED lighting, was only 34.075 million yuan, and its net profit was only 144,300 yuan.

Furi Electronics has been involved in the LED industry since 2001. The enthusiasm for the LED industry has not stopped because of the loss of LED projects. In the past three years, Furi Electronics has even reached the state of full power in the LED business development.

In 2012, the company completed the asset and business restructuring of its subsidiary Futian Lighting (formerly Fujian Furi Keguang Electronics Co., Ltd.) and Furi Optoelectronics (formerly Fujian Xingxin Electronics Manufacturing Co., Ltd.).

In 2013, the company invested 20 million yuan to acquire 20% equity of Cross-Strait Lighting, and intervened in the LED contract energy management project business; invested 195 million yuan to acquire 92.80% equity of Mairui Optoelectronics, further expanding the company's LED display business scale and improving the company's industry status.

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