Qixi Holdings diverted into the LED smart phone without breakthrough

Qixi Holdings has diverted into the LED smart phone without breakthrough.

Every reporter Guo Rongcun sent from Guangzhou

The growth of traditional computer business was weak, and there was no major breakthrough in the smartphone business. Qixi Holdings (002027, closing price 4.14) announced yesterday (June 4) that it plans to establish Guangzhou Qixi Photoelectric Co., Ltd. to enter LED application products and other fields.

However, after years of radical growth in the LED industry, it has become a "blood storm." Qixi Holdings also admitted that “the main products do not involve LED core technology, and the company faces the challenge of fierce market competition and fast product replacement.”

Smartphone business is not up to expectations

In 2012, the sales revenue of Qixi Holdings was 1.337 billion yuan, an increase of only 5.1% over 2011. The company's operating income in 2010 was 1.644 billion yuan.

At present, the business of Qixi Holdings mainly consists of two major pieces, one is computer machine and peripheral products, and the other is digital communication products. In 2012, although Qixi Holdings' computer business grew by 17.16%, the operating income of computer peripheral products fell sharply by 46.8%. In terms of digital communication products, in 2012, the company invested a lot of energy in the field of smart phones, and its operating income increased by 58.01% compared with 2011.

However, the gross profit margin of these seven types of products is not high. The gross profit margin of the computer is 7.18%, the gross margin of computer peripheral products is 5.75%, and the digital communication products are only 10.59%. This made the company's net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses last year was only 3.123 million yuan.

In its 2012 annual report, Qixi Holdings said that due to the impact of mobile terminals such as smart phones, the PC market has developed far less than expected and is on a downward trend. According to market research firm IDC, global PC shipments fell by 3.2% year-on-year in 2012, while Asia-Pacific (excluding Japan) PC shipments were 121 million units, a 2% decrease from 2011, the first decline.

In 2012, Qixi Holdings shifted its development focus to smart mobile terminals represented by smart phones, striving to make smart phones a breakthrough in the main business of bigger and stronger companies.

However, this transformation is not going well. In March of this year, Qixi Holdings announced that the company’s decision to apply for the withdrawal of the 407 million yuan increase plan submitted to the CSRC in July last year was due to the failure of the pre-invested brand-operated stores to meet expectations and the overall market development was not good. The funds were originally planned to be invested in the smartphone business.

Relevant people of the company previously said that the overall feeling of development in the smart phone business in 2012 was lower than expected. After discovering this situation, I dare not invest hundreds of millions of dollars.

Insufficient LED technology reserves

The original business has not improved, and Qixi Holdings has set its sights on the optoelectronic industry. The newly established Guangzhou Qixi Photoelectric Co., Ltd. has a registered capital of RMB 10 million, of which Qixi Holdings intends to invest 5.1 million yuan with its own funds, with a capital contribution ratio of 51%; natural person Sun Debing plans to invest RMB 4.9 million in currency, with a capital contribution ratio of 49%. . The business scope includes LED application products, electronic products and spare parts.

The company said that it is involved in the field of optoelectronics, mainly in response to market demand, responding to the call for national energy conservation and emission reduction, corresponding to the market development of LED lighting and related products, thereby expanding the company's business scope and striving to improve the company's performance.

Can you improve the company's performance through this project? Qixi Holdings does not seem to have much confidence. The company’s secretary-general, Yan Xinyuan, said in an interview with the reporter of “Daily Economic News” that at present, the company’s foundation in LED is not enough to undertake the company’s main business.

"Some businesses do some look, but it does not mean that they will inevitably turn to this aspect. Our registered capital is relatively small, and there is not much developmentality at the technical level," he said.

The current LED industry competition has been quite fierce. Many large-scale LED companies have closed down since 2011 in Shenzhen. For Qixi Holdings, which has little accumulation in the LED industry, the challenge can be imagined. Hong Shibin, executive director of the Marketing Committee of China Household Appliances Business Association, told reporters that for Qixi Holdings, the original computer business has limited growth potential, and entering the emerging LED industry should be a useful attempt.

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