The company's R&D, design, production and sales of LCD TVs are traditional core businesses, accounting for approximately 60% of the main business revenue, and have formed a relatively complete product system to meet the one-stop procurement needs of customers. In 2015, the company acquired the popular network business and has become a rapidly developing Internet TV product in the industry. On the evening of February 27, Zhaochi announced the company's 2017 performance report. According to the company's report, in 2017, the company's total operating income was approximately RMB 10,317,280,400, a year-on-year increase of 37.98%; the operating profit was RMB 688,362,200, an increase of 125.96%; the total profit was RMB 695,541,100, an increase of 63.61% over the same period; The net profit of shareholders was 611,176,100 yuan, a year-on-year increase of 63.25%. Reduced costs, increased efficiency and increased performance. Zhaochi said that the main factors affecting business performance in 2017 are the company's efforts to strengthen the development of quality customers. In 2017, new domestic and foreign customers were added to continuously optimize product structure and customer structure. The traditional business of LCD TV, digital set-top box, LED products and accessories continued to expand. In addition, the joint operation of Internet TV business was gradually promoted, and the main business income achieved rapid growth. In addition, all business segments have achieved cost reduction and efficiency gains. Through personnel optimization and adjustment, strengthening cost control, and improving capital management capabilities, management fees and financial expenses are significantly reduced. It is worth mentioning that in July 2017, the company opened a new accounting estimate for bad debt provision for receivables, and asset impairment losses fell sharply compared to the same period last year. The company's R&D, design, production and sales of LCD TVs are traditional core businesses, accounting for approximately 60% of the main business revenue, and have formed a relatively complete product system to meet the one-stop procurement needs of customers. In 2015, the company acquired the popular network business and has become a rapidly developing Internet TV product in the industry. According to the plan of Zhaochi, the company will gradually adjust its product structure, actively deploy to the mid-to-high-end market, establish a large customer strategy, and carry out diversified strategic cooperation with well-known brands at home and abroad on a global scale. Based on the principle of long-term cooperation and mutual benefit. Integrate their respective advantages, jointly promote the design, manufacture and sales of products, and realize in-depth cooperation on brand authorization and joint sales in the field of audiovisual products. With the improvement of the development of large customers, the company's industrial layout has achieved remarkable results. For example, through the authorization of the strategic partner JVC, its brand launched Google TV and its supporting products. Therefore, in 2017, the company's LCD TV, set-top box, LED products and other business segments achieved steady growth in sales revenue. Broad prospects for the LED industry According to public information, Zhaochi has entered the midstream packaging industry and downstream application fields of the industrial chain in 2011. After several years of steady development, it has become a leading LED enterprise in China. In 2017, the company introduced a team of professionals from the industry to participate in the establishment of Shenzhen Zhaochi Lighting Co., Ltd., and actively built the brand building of Zhaochi in the field of lighting applications. Northeast Securities analysts said that with the further development of Zhaochi's LED business, the advantages of upstream and downstream synergies and scale effects will gradually show that the profitability of LED business is expected to increase. And the vertical integration of resources in the industry is conducive to further enlarge the LED business sector. It is expected that if the progress is smooth, the coordinated development of the LED industry chain will increase its output value by about 6-7 billion yuan. GF Securities analysts believe that on the one hand, in 2018, the global black electricity market is expected to achieve a cyclical recovery under the pull of major sports events, which will benefit the company's ODM business; on the other hand, the company's own brand popular TV is ushered in rapid development. The product's cost-effective positioning and good channel layout are expected to prompt the popular market to change the machine dividend. At the same time, the liquid crystal panel with a large impact on the cost side of the black electricity is expected to be improved in 2018, and the production cost is expected to be improved, resulting in an increase in profitability. In terms of LED business, the company currently mainly deals with LED packaging and application fields, and jointly invested in the construction of LED epitaxial wafers and chip projects with the Nanchang Municipal People's Government, and plans to expand upstream. At present, the company has a total of 500 packaging lines. It is expected to cooperate with the epitaxial wafer project to expand and expand 1000 packaging lines, and will be officially put into operation in the fourth quarter of 2018. At that time, the chip-package-application vertical integration of the entire industry chain will be realized. (
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