In recent months, several leading LED companies have released their 2017 annual performance reports, showing a significant recovery in profitability. Among them, one of the top-performing firms stood out with nearly 1.1 billion yuan in revenue and a net profit of 211 million yuan, marking a year-on-year increase of up to 335%. This impressive growth has caught the attention of many investors.
On International Consumer Rights Day, March 15th, the headquarters of Xiamen Dry Photo Group opened its doors for the first time to institutional analysts and investors. Over 40 participants attended the event, which was also broadcast live online, allowing even more people to engage in real-time discussions.
The visit included a tour of the office building and production facilities, followed by an in-depth session where company executives shared insights on the firm’s current operations and future strategies. Key figures such as Chairman Jin Zhangyu, General Manager Cai Haifang, and other senior management members were present, answering questions from both on-site and online attendees.
During the meeting, the chairman, Jin Zhangyu, gave a live presentation that he personally scripted and narrated, showcasing the company's commitment to transparency and innovation.
General Manager Cai Haifang highlighted the company's strong 2017 performance, particularly in the chip business, which saw explosive growth. According to the annual report, net profit reached 210 million yuan, up 335% year-over-year. The chip and epitaxial film segment contributed 1.095 billion yuan in revenue, up 33.35%, making up 96.88% of total sales, a significant increase compared to previous years.
Marketing Director Huo Dongming discussed industry trends, noting that global chip market share is shifting toward domestic manufacturers due to reduced production capacity at international factories and increased expansion by local players. He also mentioned that Zhongwei’s micro-MOCVD equipment has started being delivered to domestic chip makers, signaling progress in equipment localization.
The discussion continued with presentations on "Blue and Green Business Unit Growth" and "New Technology and New Direction: MINI and MICRO-LED Development Trends." After the formal sessions, investors remained engaged in further conversations with the executive team.
Key highlights from the event included:
1. In 2017, dry blue and green light epitaxial film grew by 33.77%, while red and yellow light improved by 42.27%.
2. The 730 million yuan investment in Yangzhou Dry Photo’s flip chip production line was fully launched.
3. With the expansion in Nanchang, the company expects monthly production to reach 1.6 million units, starting with 800,000 units in the first phase.
4. A dedicated Future Display Research Institute was established, focusing on MiniLED and MicroLED technologies, with sample layouts already created.
5. MiniLED applications in TVs and mobile phone backlights are expected by year-end, though volume may come next year. However, the company is more optimistic about large-scale and automotive applications.
6. It is projected that MiniLED and MicroLED will double GaN production capacity, reaching 20 million units per month.
Chairman Jin Zhangyu concluded the event with a forward-looking speech, emphasizing that in the era of mass production, competition among LED chip companies will ultimately hinge on operational efficiency. The company plans to implement a detailed expansion strategy, enhance operational capabilities, control costs, and gain a stronger position in the competitive landscape.
Looking ahead, the company remains focused on upgrading the LED industry, investing heavily in MiniLED and MicroLED technologies to secure a leading role in the next wave of display innovation. The company is also optimistic about the potential of VCSEL technology, with successful R&D of VCSEL chips and significant progress in industrialization.
To investors, Dry Photo’s 2017 performance reflects a deep commitment to professionalism and precision. Starting with red and yellow LEDs, the company built a strong foundation in the industry. As it moves into new areas, the focus remains on strategic growth and long-term value creation.
While challenges remain, the combination of high-end applications, infrared technology, and emerging trends presents exciting opportunities. If executed well, Dry Photo could become the undisputed leader in GaAs-based red, yellow, and infrared technologies.
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