The hottest ledvance transformation and restructur

Ledvance transformation and restructuring continue to maintain optimistic future prospects

Mu Linsen issued the report on issuing shares and paying cash to purchase assets and raising supporting funds and related party transactions (Draft), updating the relevant financial data of ledvance2017h1

ledvance's transformation and restructuring continued, and there was still a loss in the first half of the year. Due to the strategic transformation of the company's business, ledvance incurred a large amount of restructuring related expenses, so the gross profit margin and net profit fell. In particular, the gross profit margin was greatly affected by the shrinkage of the traditional light source market and seasonal factors in the first half of the year, falling from 34.27% to 31.83%. From 2015 to 2017, the restructuring expenses incurred were 535 million yuan, 729 million yuan and 347 million yuan respectively

430million euros of future restructuring expenses have been accrued, which will not affect future annual profits and losses. Taking the time point of ledvance consolidation as the dividing line, the previous restructuring costs are included in the current year's profit and loss, and then the restructuring costs are accrued at the time of consolidation. Based on June 30, 2017, the estimated future restructuring expenses of 430million euros have been amortized to the next decade, without affecting future annual profits and losses

the proportion of traditional light sources decreased, and the proportion of LED continued to increase. In 2017h1, ledvance achieved a revenue of 3.872 billion yuan from traditional light sources, and LED light was released; The samples rejected by NIR model will be brought back to the laboratory source with a revenue of 1.932 billion yuan through mergers and acquisitions, 734 million yuan from OTC lamps, and 723 million yuan from smart home electronics and services. Among them, the revenue share of traditional light sources has further declined, while the revenue share of LED light sources and OTC lamps business has increased rapidly, which will become the main force of ledvance business growth in the future. It is estimated that in 2018, the income of LED will exceed that of traditional light sources

led should establish and improve the comprehensive evaluation criteria and industry standards for plastic granulator equipment. Vance has clear revenue structure adjustment goals and good prospects in the future. The company will gradually withdraw from the traditional light source business and increase the investment in LED, OTC lamps and smart home electronics. In this process, the company will gradually turn losses into profits with the help of the continuous improvement of global LED penetration and the trend of consumption upgrading. With the increase of ledvance's R & D capacity for new businesses and its use in areas that require high stiffness, good mobility and high dimensional stability, its technological and scale advantages will gradually appear, and its gross profit margin will recover and tend to be stable