Seven companies including Hikvision and Lidaxin announced their 2023 results

Recently, Sunshine Lighting, Shiyida, Lidaxin, Ocean King, Huati Technology, Aurora Australis, and Hikvision announced their 2023 results. Among them, Hikvision achieved both revenue and net profit growth, while the performance of many LED lighting-related companies declined.

Hikvision

In 2023, Hikvision achieved revenue of 89.340 billion yuan, a year-on-year increase of 7.42%; net profit attributable to the parent company was 14.108 billion yuan, a year-on-year increase of 9.89%.

Hikvision stated that the company's operating performance will improve quarter by quarter in 2023. Under the complex and changing operating environment, although the performance of the company's PBG, EBG, SMBG, overseas main businesses, and innovative businesses are not the same, the company's operating status remains stable.

Hikvision is positioned as an intelligent IoT product and service industry. Specific products and technologies include IoT sensing technology, artificial intelligence technology and big data technology, data service products, system operation and maintenance management and system operation services, smart homes, mobile robots and machine vision, infrared thermal imaging, automotive electronics, etc.

During the reporting period, Hikvision’s main business products and services and main construction projects generated revenue of 70.787 billion yuan in fiscal year 2023, accounting for 79.23% of revenue; robots, smart home, thermal imaging, automotive electronics, storage and other innovative businesses totaled 18.553 billion yuan in revenue, accounting for 20.77% of total revenue.

It is worth noting that in the field of large-screen display and control products, during the reporting period, Hikvision continued to deploy Mini LED, COB and energy-saving series products, forming a Established two self-developed production bases in Tonglu and Wuhan, focusing on LED core process manufacturing.

For business scenarios such as command centers, monitoring centers, conference exhibitions, etc., Hikvision has launched third-generation video integrated platform products, controller products and LED control systems to further improve the display effect and adaptability of LED screens, and improve the efficiency of command dispatching and business display applications.

LEEDERSIN

Affected by weak market demand, Ridarson achieved revenue of 6.681 billion yuan in 2023, a year-on-year decrease of 11.59%; net profit attributable to the parent company was 314 million yuan, a year-on-year decrease of 36.55%.

During the reporting period, Lidaxin's lighting category achieved operating income of 4.122 billion yuan, a year-on-year decrease of 18.42%; the IoT category achieved operating income of 1.862 billion yuan, a year-on-year decrease of 11.44%; the home appliance category achieved operating income of 484 million yuan, a year-on-year increase of 116.87%.

In the future, Lidaxin will continue to enter the field of Internet of Things with smart lighting as the starting point, and is committed to bringing Internet of Things products and services into homes and campuses, building a smart world where everything is connected, and providing customers with safe and trustworthy products, solutions and services in the fields of LED lighting products, control and security products, smart home appliances, software and cloud services.

Sunlight lighting

Sunshine Lighting is mainly engaged in the research and development, production and sales of lighting appliances. In 2023, Sunshine Lighting achieved revenue of 3.075 billion yuan, a year-on-year decrease of 17.58%; it achieved net profit attributable to the parent company of 215 million yuan, a year-on-year increase of 17.12%.

During the reporting period, Sunshine Lighting achieved cost optimization through the introduction of new materials and technology designs, improved manufacturing automation efficiency, supplier integration, bidding, and foreign exchange, which promoted the company's overall profitability.

During the reporting period, Sunshine Lighting has achieved multiple transformations, including the transformation from OEM to self-owned brands. Sunshine Lighting’s overall self-owned brand sales accounted for 57.28%, a year-on-year increase of 7%; it also realized the transformation of light source box lighting products, and the company’s overall lighting sales accounted for 76.93%. The lighting business of multiple business units accounts for more than 70%.

Ocean King

Ocean King achieved revenue of 1.701 billion yuan in 2023, a year-on-year decrease of 1.94%; net profit attributable to the parent company was 44 million yuan, a year-on-year decrease of 68.60%.

Ocean King's business is gradually transforming from the research and development, sales and production of special environmental lighting equipment to a service-oriented enterprise. Ocean King combines working environment lighting products with the Internet and leverages the product portfolio advantages of LED products + controller + service platform to provide customers with professional lighting solutions.

During the reporting period, Ocean King's lighting equipment business achieved revenue of 1.508 billion yuan, a year-on-year increase of 18.13%, and its proportion of total revenue increased from 73.63% in 2022 to 88.69%.

Huati Technology

In 2023, Huati Technology achieved revenue of 608 million yuan, a year-on-year increase of 40.34%; net profit attributable to the parent company was 60 million yuan, turning losses into profits year-on-year.

Huati Technology focuses on product R&D and manufacturing, engineering project installation, and investment, construction and operation of smart street lights in the field of urban lighting. In 2023, Huati Technology achieved performance growth by actively adjusting market strategies, expanding sales channels, increasing marketing efforts, and optimizing product production processes.

During the reporting period, sales of Huati Technology's window street lights and smart street light products increased. Urban lighting-related business achieved revenue of 513 million yuan, a year-on-year increase of 20.73%. Through the development of new urban lighting products, optimization of production processes, and the use of new materials, Huati Technology has improved the gross profit margin of lighting products to 29.06%.

In addition, Huati Technology's new lithium battery sales and lithium ore processing and sales businesses will also achieve revenue of 86 million yuan in 2023.

Shiyida

Due to reduced orders, reduced non-recurring profits and losses, and adjustments to the company's product structure, Shiyida achieved revenue of 594 million yuan, a year-on-year decrease of 6.88%; net profit attributable to the parent company was 10 million yuan, a year-on-year decrease of 92.75%.

Shiyida focuses on intelligent hardware manufacturing and intelligent terminal product business. Intelligent terminal products mainly involve the design, research and development, production and sales of LED intelligent lighting and related supporting products. During the reporting period, Shiyida's smart terminal products further gained favor from customers, with orders increasing and revenue growing. During the reporting period, Shiyida’s smart terminal product business revenue was 428 million yuan, accounting for 72% of revenue, and its gross profit margin increased to 26.27%.

Southern Lights

In 2023, Southern Lights achieved revenue of 469 million yuan, a year-on-year decrease of 26.98%, and net profit attributable to the parent company continued to suffer losses.

Nanjingguang's main products are LED backlight display modules, which are widely used in various professional display fields such as smartphones and vehicle-mounted displays, medical displays, industrial control equipment displays, home appliance displays, and other consumer electronics displays. Among them, smartphones are the main application field of Aurora backlight display modules.

During the reporting period, due to the decline in demand for backlights from terminal mobile phone manufacturers, fierce competition in the industry, and decline in sales and unit prices of major products, Southern Light's current operating income and gross profit margin declined. During the reporting period, Nanjiangguang’s backlight display module revenue was 462 million yuan, a year-on-year decrease of 27.35%. (Compiled by LEDinside Irving)

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