Half-year reports of 9 listed LED companies disclosed

Polyfill OptoelectronicsRevenue for the first half of 2022 was approximately 1.072 billion yuan, a year-on-year decrease of 5.98%; net profit attributable to shareholders of the listed company was approximately 112 million yuan, a year-on-year decrease of 10.23%.

公司主营业务属于LED封装。现阶段公司的发展战略是深耕LED行业，以背光LED和照明LED为依托，拓展车用LED、Mini/Micro LED、不可见光、高端照明等LED业务；在保证现有业务提高全球市场占有率的基础上，同时向半导体封装（分立器件封装）、膜材产业拓展，如功率器件、光器件、光学膜材等。

Polytronics stated that during the reporting period, in response to economic downturn pressures, various regions introduced numerous stimulus policies; however, global demand for consumer electronics terminals such as smartphones, PCs, and TVs continued to cool. Although the company's backlight LED business developed steadily, the overall market faced significant pressure.

报告期内，公司的车用LED业务持续表现突出，在全球战略客户中不断实现重大突破，销售占比稳步提升。其中车用背光产品已全面进入全球客户的供应链体系，是目前唯一的大陆品牌，基于显示屏在汽车座舱中拥有较高的价值量占比，未来市场容量还将继续提升。公司的车规级MiniLED背光源可应用于车内仪表、中控导航、后方娱乐及后视镜屏幕背光等车载电子；车规级 MiniLED 直接显示模组则可应用于汽车内部氛围，外部照明以及车外媒体显示。

此外，公司的Mini LED产品广泛应用于电视、电竞、笔记本电脑、商业显示及车载电子等终端。消费电子终端对于高端产品的探索已为Mini LED带来新的机遇，报告期内，公司的Mini LED产品进展顺利。

Weilan Lithium Coreachieved revenue of 3.802 billion yuan in the first half of 2022, a year-on-year increase of 23.29%; net profit attributable to shareholders of the listed company was 351 million yuan, a year-on-year increase of 3.49%.

公司主要从事锂电池、LED芯片及金属物流配送三大业务。其中，全资子公司江苏天鹏电源有限公司是高新技术企业，在圆柱动力电池领域具有16年的研发和制造经验的积累，拥有目前国内外顶尖水平圆柱型锂电池自动化产线。报告期内，公司锂电池业务实现营业收入约17.18亿元，同比增长43.31%。江苏天鹏实现净利润约2.47亿元，占上市公司归母净利润的70%左右。

LED business overall revenue was approximately 712 million yuan, achieving a net profit of approximately 31 million yuan. During the reporting period, the proportion of backlight product sales revenue to chip sales increased significantly compared to the previous year. Among them, the company's Mini products have covered series markets such as automotive displays, VR, laptops, MNT, and TVs. Inflation has led to a sluggish global electronic consumer market, and the release of demand for terminal products such as Mini LED has been slow, which has had a certain impact on the improvement of the company's performance.

LeyardRevenue for the first half of 2022 was approximately 3.702 billion yuan, a year-on-year increase of 2.8%; net profit attributable to shareholders of the listed company was approximately 268 million yuan, a year-on-year decrease of 6.02%.

After experiencing rapid growth in market demand in 2021, the LED display industry faced significant domestic outbreaks in April and May 2022, affecting all domestic operations and leading to a decline in display orders. Following the stabilization of the epidemic in June, display business recovered quickly, with orders in June-July increasing by nearly 50% month-over-month compared to April-May. In particular, costs and selling prices for existing Micro products (P0.4-0.9mm) decreased, and after the company launched its "Black Diamond" series, Micro LED orders surged significantly.

During the reporting period, the revenue share of the intelligent display segment reached 85.80%. Although domestic business, which holds a high proportion, was impacted by the pandemic, it still achieved a Year-on-year (YoY) growth of 16%, and its gross margin also improved compared to the same period last year.

文旅夜游受上半年国内疫情影响较大，收入出现大幅度下滑，毛利率因项目结算较上年同期提高9.26个百分点。

Revenue from the virtual reality sector increased by 13.63% compared to the same period last year, with gross margin showing steady improvement.

Bull Group Revenue for the first half of 2022 was 6.838 billion yuan, a year-on-year increase of 17.5%; Net profit attributable to shareholders of the listed company was 1.508 billion yuan, a year-on-year increase of 6.08%.

During the reporting period, the company focused on three major tracks: electrical connections, smart electrical lighting, and digital accessories. In the first half of 2022, the company's electrical connection business generated revenue of 3.356 billion yuan, a Year-on-year (YoY) increase of 12.30%; the smart electrical lighting business generated revenue of 3.263 billion yuan, a Year-on-year (YoY) increase of 23.62%; and the digital accessories business generated revenue of 202 million yuan, a Year-on-year (YoY) increase of 16.10%.

在LED照明方面，公司积极布局主流价位段差异化装饰灯，2022年上半年先后推出X18极致，X11永恒等10余款“轻智能”装饰灯。公司先后推出聚彩系列商照筒射灯、TP01天棚灯等产品。随着产品线的深入布局，业务范围已涵盖户外、工业、办公、医院、酒店、商业连锁等领域。

The mobile lighting business is booming. The company remains committed to creating a comfortable, eye-friendly lighting environment for consumers. By offering series-based dimming desk lamps, we cater to the needs of different market segments, comprehensively and three-dimensionally satisfying the requirements of all age groups and consumer tiers for desk lamps. For the supplementary lighting product category, based on users' actual daily life scenarios, we have launched innovative products such as night lights and cabinet lights.

Breakthrough in the no-main-light business. The company began incubating a new strategic business for no-main lighting last year and officially launched products such as magnetic track lights, spotlights, grille lights, and smart screens with voice control functions in March this year. Last year, the company acquired Bangqi Intelligence, a leading enterprise in the domestic field of luminous efficacy control, focusing on users' core needs for lighting to incubate a brand-new control system.

Depu Lightingannounced its semi-annual report for 2022, reporting revenue of 2.445 billion yuan, a year-on-year (YoY) decrease of 0.67%; net profit attributable to shareholders of the listed company was 156 million yuan, a year-on-year (YoY) decrease of 14.23%.

Depu Lighting products cover three major categories: residential lighting, commercial lighting, and automotive products. Since the second quarter of last year, the company has divested its engineering plastics business; excluding this factor, the company's revenue increased by 4.97% year-on-year. Among them, general lighting business achieved revenue of 2.135 billion yuan, up 7.73% year-on-year, while automotive business achieved revenue of 170 million yuan, up 84.15% year-on-year.

In the field of general lighting, Depu Lighting actively participates in market competition, striving to continuously expand its sales scale and consolidate its industry position in the residential lighting sector. At the same time, the company considers commercial lighting as a key vehicle for enhancing product value and strengthening customer loyalty within the general lighting domain. During the reporting period, the company actively expanded its commercial lighting customer base in Europe, North America, and China, achieving significant progress in numerous new projects, new customers, and new .

In the automotive business segment, Depow Lighting has clearly focused on two niche areas: automotive controllers and automotive lighting. During the reporting period, in accordance with its automotive strategic plan, the company actively promoted existing designated projects and strived to secure new business opportunities, while simultaneously advancing industry system certification and customer system audits. It has now completed certifications for all mainstream industry standard systems and passed customer system audits by major domestic and international automakers and auto parts giants, including SAIC, XPeng, Leapmotor, Toyota, Nissan, Mazda, Porsche, Hella, and Marelli, laying a solid foundation for future business expansion.

Sunlight LightingRevenue for the first half of 2022 was 1.995 billion yuan, a Year-on-year (YoY) decrease of 7.83%; Net profit attributable to shareholders of the listed company was 99.6462 million yuan, a Year-on-year (YoY) decrease of 64.27%.

Sunshine Lighting's main products include LED lighting products and lighting control systems, covering general lighting such as commercial lighting, residential lighting, office lighting, outdoor lighting, track lighting, industrial lighting, educational lighting, etc., while also covering emergency lighting, horticultural lighting, electrical appliances, etc.

Sunshine Lighting states that the company has always adhered to independent R&D, focused on developing niche markets, optimized product structure to increase product value-added; continued investment in R&D and increased innovation efforts to address and explore new demand scenarios; improved production automation levels, upgrading from machine replacement of labor to intelligent manufacturing to enhance production efficiency and product standardization and stability; established a safe and efficient supply chain system to improve supply chain control capability, elasticity and redundancy; attached importance to brand building and created a brand ecosystem; strengthened enterprise information construction to further improve management level and operational efficiency; from product manufacturer to solution integrator to system service provider, the future pursuit is through precise lighting design to build an intelligent low-carbon system capable of adaptively providing a healthy light environment.

公司将围绕LED照明的主营业务，持续大力推行自动化、智能化、精益化生产，提高人均产能，积极降本增效，深挖内部管理效益，进一步拓展发展空间和盈利能力。

Huati TechnologyRevenue in the first half of 2022 was approximately 207 million yuan, a year-on-year decrease of 40.29%; net profit attributable to shareholders of the listed company was a loss of approximately 16.39 million yuan.

In the first half of this year, due to the multiple and recurring outbreaks of the domestic COVID-19 pandemic, the pace of work in areas such as company marketing promotion, business acceptance, implementation, delivery, and acceptance was affected to varying degrees, resulting in a decline in the company's operating performance.

In 2021, while maintaining its technological leadership in the lighting sector, the company continued to invest heavily in R&D for second-generation multi-functional smart poles, multi-functional smart pole operation and management software platforms, smart pole edge computing gateways, AI boxes, artificial intelligence algorithms, Huhe 100 (IoT edge computing gateway), intelligent metering terminals, and new scenario service systems for smart cities.

公司在继续保持西部地区市场占有率的同时，进一步拓展省外业务，成为国内最大的城市照明综合服务提供商之一。公司利用智慧路灯进入智慧城市，通过建设加后期运营的模式，逐渐建立了从单一的产品销售，逐步升级为产品销售加智慧城市运营服务全产业链的模式。

Furthermore, the company pioneered the concept of "urban cultural lighting". In urban lighting design, it introduced the concept of "cultural customization", combining lighting design technology with light art to create a series of culturally customized lighting products, further enhancing the city's cultural refinement. At the same time, it actively expanded its product line by pioneering the concept of "new infrastructure for all elements of urban space". In the design and manufacturing of urban public facilities, it incorporated concepts such as "Internet of Things (IoT)" and "public art". Through the combination of technology and art, it designed a series of IoT urban furniture products for all elements of spaces such as urban roads and parks, including integrated poles, various pole-box facilities, pole-mounted equipment, and urban furniture.

Igor Revenue for the first half of 2022 was 1.388 billion yuan, a Year-on-year (YoY) increase of 53.49%; Net profit attributable to parent company shareholders was 84.659 million yuan, a Year-on-year (YoY) decrease of 40.45%.

Company focuses on the R&D, production, and sales of power supplies and power components for industrial and consumer applications. Currently, the company follows a "2+X" strategic layout, based on energy products and lighting products, while actively expanding into new application areas such as automotive power supplies, communication power supplies, and energy storage.

During the reporting period, energy products generated revenue of 866 million yuan, a year-on-year (YoY) increase of 70.59%. Among them, new energy products saw a YoY growth of 121.72%, maintaining a strong momentum of rapid growth; industrial control transformers increased by 43.1212 million yuan compared to the same period last year, representing a YoY rise of 17.34%. Lighting products increased by 103 million yuan compared to the same period last year, with a YoY growth of 28.28%.

Net profit attributable to shareholders of the listed company decreased by 40.45% year-on-year in the reporting period, mainly due to: In the same period last year, the company completed the external sale of land and buildings at Guicheng Science Park, realizing a net gain of 104 million yuan. Excluding the impact of the aforementioned asset disposal, net profit for this reporting period increased significantly compared to the same period last year.

Lant Intelligent Revenue for the first half of 2022 was 517 million yuan, a year-on-year increase of 23.16%; net profit attributable to shareholders of the listed company was 75.2122 million yuan, a year-on-year increase of 17.27%. The main reasons are as follows:

1. During the reporting period, benefiting from the rapid development of the new energy vehicle and energy storage industries, the company actively implemented its "key account" strategy, deeply explored customer needs, expanded product breadth, increased sales of products applied to automotive electronics and off-grid lighting, and achieved steady growth in sales revenue.

2. During the reporting period, the company actively carried out cost reduction and efficiency improvement work to increase output per capita; implemented "minimum expense" measures to control the growth rate of expenses, continuously enhancing profitability.

3. During the reporting period, due to domestic pandemic control measures and inflation in Europe and the US, the US dollar continued to appreciate. The company recorded exchange gains of approximately RMB 20 million, a significant increase compared to the same period last year, further enhancing the company's profitability.

公司从事智能控制器及智能产品的研发、设计、生产和销售，产品主要运用于智能家居及家电、离网照明、汽车电子和新型消费电子等行业。

During the reporting period, the off-grid lighting sector achieved revenue of 236.1395 million yuan, a year-on-year (YoY) increase of 137.95%; the automotive electronics sector achieved revenue of 51.8334 million yuan, a YoY increase of 123.49%; the smart home and home appliances sector achieved revenue of 174.6006 million yuan, a YoY decrease of 19.16%.