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 in the first half of 2017 reached approximately 1.22 billion yuan, representing an 81.71% increase year-over-year. Net profits soared by nearly 106.83%, totaling around 136 million yuan. Zhouming Technology emphasized its leading position in the global LED display market, particularly excelling in small-pitch LED products, advanced technology, and superior after-sales services.

According to the company's semi-annual report, Zhouming Technology's LED display products are experiencing rapid growth, with overseas income contributing significantly higher gross profit margins compared to domestic sales. In terms of proportion, overseas income accounted for roughly 70% while domestic income made up around 30%. Specifically, overseas revenue reached 787 million yuan, marking a 70.35% increase year-over-year, with a comprehensive gross profit margin of 38.56%. Domestic revenue, on the other hand, amounted to 350 million yuan, rising by 142.03%, with a product gross profit margin of 18.62%.

The key factors driving the rapid expansion of overseas income include the brand effect, exclusive customization services, and international talent acquisition. In the first quarter of 2017, Zhouming Technology ranked first in the LED display export market, with overseas clients increasingly recognizing the company’s brand. Additionally, Zhouming has developed a cloud-based video integrated management platform to offer personalized solutions tailored to specific customer segments.

Domestically, the growing demand for security monitoring applications has fueled the expansion of Zhouming Technology’s LED small-pitch business, which saw a staggering 246% increase in revenue, reaching 280 million yuan. Overseas small-pitch LED business also achieved impressive results, with revenues amounting to 370 million yuan, reflecting a 90% year-over-year growth. Zhouming Technology noted that UTC’s LED small-pitch products, which offer excellent cost-effectiveness, are gaining traction in the conference room and high-end retail markets, with further potential for increased market penetration and replacements.

To enhance its presence in the Internet+ sector, Zhouming Technology aims to create a comprehensive ecosystem within the LED display industry. In the LED lighting segment, the company is diversifying through mergers and acquisitions (M&A). Since July 2017, Zhouming has invested in several energy-efficient firms, including Aiga Lighting, Shandong Tsinghua Kangli, and Hangzhou Bai Nian. Recently, there have been plans to establish Lianyungang Xingzhou Energy Saving, aiming to comprehensively cover high-end commercial lighting, landscape lighting, signage, and other lighting segments while expanding into traditional EMC energy-saving businesses.

For those interested in the full story, please visit the original source at: www.securetimes.com.

Tags: Zhouming Technology, LED Display, LED Small-Pitch

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