Han's Laser release 2014 third quarterly report

Absrtact: October 28 night, Han's laser released the third quarter of 2014 report. 2014 years ago, the three quarter, the company to achieve business income of 4.265 billion yuan, growth of 31.3% per cent, the realization of net profit of 529 million yuan, an increase of 67.89%. At the same time, the company is expected to 2014 annual ownership of listed companies

October 28 night, Han's laser released the third quarter of 2014 report. 2014 years ago, the three quarter, the company to achieve business income of 4.265 billion yuan, growth of 31.3% per cent, the realization of net profit of 529 million yuan, an increase of 67.89%. At the same time, the company is expected to be 2014 attributable to the listed company's shareholders of the net profit change interval of 6.01 yuan to 701 million yuan, the year-on-year change of 10% to 30%.

From the earnings point of view, the third quarter of Han's performance contribution is clearly greater than the first two quarters, which is directly related to the release of new Apple.

However, from October 20 onwards began to suspend the planning of major issues of the Han laser before the suspension of the stock market suffered a decline. Since September, there has been one of the actual control of Gao Yun, the outside of the concept of sapphire is frequently bad, since September 10 Apple released a new iphone, as of October 17, the company's shares fell 12.49%.

There are also disagreements over corporate perceptions. The latest disclosure of the three-quarter shareholder situation, Han's top ten shareholders still continued the end of the first half of the "fund holding group" situation, from 7 funds 1 social security into 6 funds 1 social security, and securities research institutions for the concept of sapphire attitude has been generally optimistic about the differentiation.

Rely on apples?

The Apple industry chain, the concept of sapphire is almost the most dazzling halo around the head of Han's laser, it can be said that the market is most interested in the point.

The direct manifestation of the figures is that Han's laser 2014 third quarter of the quarterly performance of the year significantly pulled up the annual results. The company's single quarter to achieve operating income of 1.972 billion yuan, an increase of 67.05%, the net profit attributable to the parent company net profit of 288 million yuan, an increase of 120.86%.

"From the observation of previous years, the company orders in the second half of the general better than the first half, confirmed that sales are also concentrated in the second half." Han's deputy general manager of Laser Benny told the 21st Century reporter.

Lin Zhaotian, an analyst at Qilu Securities, pointed out that net profit growth in the three quarter was significantly higher than net profit growth, partly because of the high gross margin of overseas orders.

The 21st century economic reporter learned from the industry close to Han's laser, including Apple's latest release of IPhone6, Iphone6 Plus, Apple Watch, and previous iphone, ipad series, MacBook, charger Products in the process of more or less use of the laser equipment of Han's laser, including laser marking machine, laser welding machine, laser cutting machine.

The devices correspond to the "small Power laser equipment field" disclosed in the company's earnings report, which contributed more than 40% of the revenue to the company in the first half of the year. First half, small power laser equipment to achieve sales revenue of 978 million yuan, an increase of 14.8%, accounting for the main business income ratio of 42.66%.

The reporter learned from the above people, since 4 May this year, Han's laser has begun to receive Apple's orders on laser equipment, September, October, November is a tense time to rush.

"In addition to Apple, Samsung is also the top five customers of Han's laser, and Apple is much bigger than Samsung." said the industry personage.

But it is also because of the reliance of big clients that led to a 2013-year slowdown in performance. As a result of small power laser equipment accounted for a large proportion of the company's income, 2013, the company for "market reasons" small power laser equipment sales declined year-on-year, the company's overall gross profit rate fell 8%.

Earnings showed that 2011, 2012, 2013, the first half of 2014, the company achieved net profit of 579 million yuan, 618 million yuan, 529 million yuan, 241 million yuan. "The reason for the 2013-year performance growth is that Apple IPHONE5S/5C released sales in 2013, and it is not very obvious that the equipment was not so much updated in its technological innovation," said Apple. "A brokerage fellow in eastern China who has a deep research on Han's laser, said to the 21st century economic reporter.

"The proportion of income that major clients contribute to the company's operating income is declining every year because the overall sales volume of the company is on the rise." "Han's laser securities staff of the 21st Century Economic Report reporter reply, the company in high-power laser equipment, laser plate making and printing equipment, PCB equipment, LED equipment and products business are continuing to break through." "Large-power laser equipment, this year, Han's laser received from auto companies, military companies, orders from the last year, a big increase." "said the former East China Securities brokerage researcher.

Institutional divergence Sapphire concept

As a manufacturer of laser cutting equipment, Han's laser is considered to be the direct beneficiary of Apple's application of sapphire cover. Benny once told reporters, "Sapphire has a hard character, using mechanical method to operate, each grinding a few slices need to change a diamond knife, so down the diamond will be worn, and laser cost is much lower, laser technology for sapphire materials for more applications in mobile phones, tablets and other consumer electronics products to provide the possibility. He said that Han's laser cutting equipment in the sapphire cover of the cutting technology has matured.

Then, first the sapphire cover was absent from Apple's new iphone. September 10, the sapphire concept plate fell.

Subsequently, September 25, the company's chairman, the actual controller Gao Yun through the bulk trading system to reduce the company 32 million shares, reduce the average price of 18.92 yuan/share, based on the calculation, the amount of cash is about 605 million yuan, so that the market quite surprised.

Then, after the national day, Apple Partners, the United States Sapphire manufacturers GTAT application for bankruptcy protection, the outbreak of the industry shook again, a large-a-share company to enter the sapphire companies have been again frustrated.

October 17, Han's laser bulletin said it will start from 20th to suspend the planning of major issues.

"Gao Yun reduction must have its own reasons, may be the future of the company's strategic planning, he because the early prediction of sapphire bad news and radical reduction of the possibility of small, the company should have some business action." "The former East China Securities brokerage analyst on the 21st century Economic report reporter said.

The mechanism of the heavy-warehouse laser has different reactions. The top ten shareholder movements show that the bank Schroeder growth Stock Securities Investment fund in the three quarter increased the company 3.9999 million shares, easy to achieve positive growth of securities investment funds adhere to the unchanged 19 million, Analytica's two fund a reduction of 200,000 shares, One overweight 799,900 shares, Yinhua 100 index classified securities investment funds and the National Social Security Fund 411 portfolio are new shareholders, and the end of the two quarter of the National Social Security Fund 601 combination, Teda Manulife market capitalisation of the preferred Stock securities investment funds, Gyeongbokgung securities investment funds are in the top ten shareholder list disappeared.

21st Century economic reporting reporter also found that the big push of the sapphire industry many brokerages in the recent "silence", but also like Guotai, Ping An securities still have continued to publish relevant reports on the sapphire industry "strong." "GTAT filing for bankruptcy does not mean that Apple has given up the sapphire cover, followed Apple's actions closely, and that after the short-term shocks, the industry's positive factors have to be seen." Guotai analyst Chrysosporium points out. "Apple may turn its target to the" third party "in Taiwan and the mainland, and we are still bullish on the future of the sapphire industry. Ping An securities Liu Sunyi that.

"The instability of the quality of the crystals grown by the gtat heat exchanger increases the difficulty of the post-processing, and Apple may abandon this method, but regardless of the method used, Han's laser as the most downstream cutting link in the sapphire industry chain should not be affected." "But this is a matter of time, but it's not clear when the sapphire cover can be applied to the iphone," said a former brokerage analyst. ”