Date Published: August 29, 2017 Source: Securities Times Share:

Last night (August 28), Zhouming Technology released its semi-annual financial report revealing that its revenue for the first half of 2017 amounted to approximately 1.22 billion yuan, representing an 81.71% increase year-over-year. The company's net profit surged to around 136 million yuan, reflecting a near 106.83% jump compared to the previous year. Zhouming Technology attributed its impressive performance to its leadership in the global LED display market, particularly in the specialized niche of LED small-pitch products, as well as its exceptional after-sales services.

According to Zhouming Technology's semi-annual report, the company’s LED display products are experiencing rapid growth, with higher gross profit margins coming from its overseas operations. In terms of revenue distribution, overseas income accounted for roughly 70%, while domestic income made up the remaining 30%. Specifically, overseas income totaled 787 million yuan, marking a 70.35% year-over-year increase, with a comprehensive gross profit margin of 38.56%. Domestic revenue reached 350 million yuan, surging by 142.03%, with a product gross profit margin of 18.62%.

Several key factors have contributed to the rapid growth of Zhouming Technology’s overseas revenue. First, the strong brand effect has significantly boosted customer recognition, especially in the first quarter of 2017 when the company topped the industry in LED display exports. Additionally, Zhouming Technology has launched a cloud-based video integrated management platform, offering customized professional templates and management rights tailored to different customer segments. This approach has proven highly effective in meeting diverse customer needs.

The robust demand in China’s domestic security monitoring sector has driven the growth of Zhouming Technology’s LED small-pitch business, with domestic revenue soaring by 246% to reach 280 million yuan. Meanwhile, overseas LED small-pitch business generated 370 million yuan, increasing by 90%. Zhouming Technology also announced the introduction of UTC LED small-pitch products into conference rooms, high-end retail spaces, and other markets, expecting further increases in industry penetration and replacement rates.

To excel in the Internet+ era, Zhouming Technology aims to create a comprehensive ecosystem within the LED display industry. In the LED lighting segment, the company is expanding its footprint through strategic acquisitions. Since July 2017, Zhouming Technology has made significant investments in energy-saving firms such as Aiga Lighting, Shandong Tsinghua Kangli, and Hangzhou Bai Nian. Most recently, the company proposed establishing Lianyungang Xingzhou Energy Saving to comprehensively cover high-end commercial lighting, landscape lighting, signage, and other lighting sectors, while also broadening its traditional EMC energy-saving business.

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Tags: Zhouming Technology, LED Display, LED Small Pitch

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