According to the company's performance forecast, Daqi Laser expects the net profit for the first half of 2019 to be 357 million yuan -407 million yuan, a year-on-year decline of 60% -65%; net profit year-on-year decline is indeed more serious, the decline in net profit does not mean that the company is losing money, to put it bluntly, is to make money is not as much as it was last year.
In addition to the comprehensive family of laser performance predecline for three main reasons:
(1) the family of laser is the electronic instrumentation line of business, performance predecline is mainly affected by the cyclical downturn in the fee electronics industry, as well as part of the industry customers tend to be cautious of the impact of capital expenditures!
(2) and then the company again there is a cause of the company's performance declined only by the exchange rate fluctuations affect the company's foreign exchange gains over the same period last year by about 35 million yuan, the exchange rate market fluctuations who can not control, for any listed companies in the trade is an impact on the exchange rate market conditions can not be predicted by anyone.
(3) The last reason is that the large laser in 2018 dealt with the equity of Shenzhen Mingxin Test Equipment Co. and PRIMA, which brought the company about 187 million yuan of net profit, thus allowing the company's net profit to grow significantly, and 2019 to restore smooth performance are very normal.
Comprehensive the above three reasons is the real reason why the big family laser 2019 half-yearly report net profit forecast decline.
According to the performance forecast of the laser below to say my personal opinion:
The laser is in the laser industry in the leading company, but also in the A-share market is a white horse stock; and in the weekend the company announced the 2019 performance forecast, the company's half-yearly report is a substantial reduction is indeed a big drop in the glasses, out of the investor's expectations.
But after all, the large laser in the industry in the business weight is relatively large, once again according to the company's three major reasons for the performance of the pre-decline in the situation, the three major reasons are particularly market factors, not the company's own major operational problems caused by the so I think that the large laser profitability will certainly be gradually restored in the electronics industry, as well as the exchange rate market through the volatility of the period, into the stabilization of the period after the Definitely performance will restore the original growth rate.
I believe that the performance of the laser group fell temporarily, after all, the laser group independent research and development of the Draco series of picosecond lasers a new generation of core light source at home and abroad have occupied a large market, this is also the company's main profitability of an important source; as long as the company in this new generation of core light source to continue to make progress in the development of a steady pace, I believe that the laser group of the potential for growth is still huge.
The last point is that the laser is also a science and technology enterprises, in line with the current national policy to support the happy science and technology enterprises; because the laser has become a national science and technology successful focus on the promotion of enterprises, as well as Guangdong and Shenzhen key software enterprises, so the background of the laser has a policy to support the growth will continue to maintain the probability of the probability of a very large.
In short, we are also a little calm for the half-yearly report of the decline of the large group of laser, half-yearly report of the decline I believe that the time of the temporary, I believe that the large group of laser will soon return to the growth rate of net profit, so it is recommended to hold the shares of the investor does not need to panic, wait and see what happens.
After reading the praise, the waist is full of money, thank you for reading and attention.
Da Nu Laser (002008) on July 13th is also today released results forecast: first-half net profit of 357-410 million year-on-year decline of 60% -65%, the year-on-year, is the year-on-year profit than the previous year, that is, the first half of 2018 year-on-year profit decline of 60-65%, although the performance is down (the performance is down because: because of the cyclical downturn in the consumer electronics industry and some of the industry customers' capital expenditure tends to be cautious, the Company expects the operating income to decrease by about 7% compared with the same period of the previous year, due to the impact of product structure and market competition, the Company's consolidated gross profit margin is expected to decrease by 5-6 percentage points compared with the same period of the previous year; during the preview period, due to the impact of exchange rate fluctuations the Company's exchange gain decreased by about 35 million yuan compared with the same period of the previous year; during the same period of the previous year, the Company partially disposed of the equity interests of Shenzhen Mingshen Test Equipment Ltd. and PRIMA's equity interests, the total impact on the net profit attributable to shareholders of the listed company for the same period of last year is about 187 million yuan;
Combined with the impact of the above factors, it is expected that the Company's operating results for the half-year of 2019 will decrease by 60%-65% compared with the same period of last year, and decrease by 51%-57% year-on-year after deducting the impact of the disposal of equity interests in the same period of last year mentioned above, but there will not be any loss.
Let's analyze the reasons for the decline in performance mentioned in the interim report: 1) operating income fell by only 7% due to the environment; 2) because of exchange rate fluctuation gains decreased by about 35 million yuan compared to the same period of the previous year; 3) gains from the disposal of equity interests in subsidiaries in the same period of the previous year (this part of the reason can be ignored, after all, not every year there are equity interests available for sale). So the real operational reason for the decline in earnings was only about 7%, a fluctuation that should be understandable and within the normal range. We also need not make a fuss, do not see a decline in earnings on the wind, as if the sky is falling, but to go to the cocoon, to find the essence of the decline in profits, and then operate!
We take a look at the background of Daqi Laser, Daqi Laser is a high-tech enterprises in Shenzhen, Shenzhen key software enterprises, key enterprises in Guangdong Province equipment manufacturing industry, national innovative pilot enterprises, national scientific and technological achievements to promote the demonstration base of the focus of the promotion of demonstration enterprises, the national layout of the planning of the focus of the software enterprise, the main scientific research project was recognized as a national Torch Plan project. Daqo Laser is a leading enterprise in China's laser equipment industry. As a world-renowned laser processing equipment manufacturer, Daqo Laser turns "laboratory equipment" into laser technology equipment that can work continuously and stably for 24 hours through continuous independent research and development, and it is one of only a few companies in the world that owns the "UV laser patent". We are one of the few companies in the world that owns a patent for a UV laser. With the support of strong capital and technology platform, the company has realized the development of small power to large-scale high-power laser technology equipment research and development, production of leapfrog development.
Daqo Laser provides domestic and foreign customers with a complete set of laser processing solutions and related supporting facilities. The main products include laser marking machine series, laser welding machine series, laser cutting machine series, new energy laser welding equipment, laser demonstration series, PCB drilling machine series, industrial robots and other series of more than 200 kinds of industrial laser equipment and intelligent equipment solutions.
Daqo Laser's products cover a wide range of industries, including IT manufacturing, new energy power battery manufacturing, electronic circuits, instrumentation, computer manufacturing, cell phone communications, home appliances, kitchen and bathroom, automotive parts, precision instruments, construction and building materials, hardware and tools, apparel and clothing, city lighting, jewelry, crafts and gifts, and food and pharmaceutical packaging.
Daqo Laser has a perfect sales and after-sales service network in the domestic industry, covering the whole country, and dozens of branches and agents overseas, and has set up a specialized industry service department to provide laser processing process analysis and a full range of laser application solutions for customers in different industries, so as to make the laser technology realize a seamless connection with the manufacturing process of various industries.
Daqo Laser currently has a research and development team of thousands of people, more than 800 domestic and foreign patents and 106 computer software copyrights, of which many core technologies are at the international leading level. The company has established strategic partnerships with many famous universities across the country, such as the joint establishment of related laboratories and talent training bases and other projects. Production based on ISO9001 quality control system and ISO14001 environmental management system, the product in its incoming materials, processing, machine, shipment of all aspects of strict control, to ensure product performance and quality, and a number of series of products have received the EU CE certification.
This is a large cluster of laser product line involved in the industry and the achievements made, but also was CCTV report "big country heavy weapon" mentioned in the Daqi Laser, we can see Daqi Laser (002008) is now the layout of the product and sales layout is very stable, the market demand is very stable, and the product involved in the forward-looking are very stable. Products involved in the forward-looking are very strong, in new energy vehicles, industrial robots, intelligent equipment and other equipment involved in the laser have a complete solution! So I personally think that with the improvement of the environment in the second half of the year and new energy vehicles and industrial robots, the real impact of the 7% of earnings will be able to pick up soon, there is no need for this preview and exhaustion, distraction, and even affect the work and life! Of course, this is just a little personal opinion, I hope not to constitute any impact on your operation.
Da Nu Laser is a sensational white horse stock, the sensation does not lie in the rate of increase, but in the north of the funds to buy to the "burst"
March 5, Da Nu Laser announcement that the proportion of shares held by foreign investors more than 28%, has been forced to close the Shenzhen-Hong Kong through the trading of the buy channel, can only be sold, can not be purchased! .
Daqo Laser is one of the absolute leaders of the domestic laser equipment, Daqo self-developed Draco series of picosecond lasers a new generation of core light source to break the monopoly of foreign countries to achieve the scale of sales, the gross profit rate is higher large 41.53%, amazing profitability.
Daqi Laser 2017 revenue in one fell swoop into the tens of billions of levels, reaching 11.560 billion yuan, up 66.12%, net profit of 1.665 billion yuan, up 120.75%.
In 18 years, Da Nu Laser realized operating income of 11.03 billion yuan, a year-on-year decline of 4.6%, net profit of 1.73 billion yuan, an increase of 3.22%, the gross profit margin also declined, the gross profit margin of laser products is 37%, or higher, compared to 17 years of operating income has declined, but the net profit is still rising, the decline in revenues and the decline in Apple's orders Not unrelated, but the rise in profits may have a certain degree of relevance to non-recurring gains and losses. Apple's sales decline on the A-share company's industrial chain is more than just a big family laser, which is also something to pay attention to.
Daqi Laser expects the company's 2019 half-year operating results to decline by 60%-65% compared with the same period of the previous year, after deducting the impact of the disposal of equity in the same period of the previous year mentioned above, a year-on-year decline of 51%-57%.
Subject to the cyclical downturn in the consumer electronics industry and the impact of some industry customers' capital expenditure tends to be cautious, the company expects operating income to decline by about 7% compared to the same period last year, due to the product structure and market competition, the company's consolidated gross margin is expected to decline by 5-6 percentage points compared to the same period last year. The company announced a cyclical downturn in the consumer electronics industry, is not implied that the entire industry shipments of smartphones decline, temporarily unable to judge, it is also inconvenient to evaluate, but the smartphone penetration rate is very high, high-growth is no longer possible, and the related industrial chain performance growth needs to be vigilant.
Another reason is the exchange loss, about 35 million dollars.
The white horse stock is the market's heart love, is also the focus of the institutional group holding stocks, in the economic downward pressure, in the consumer growth rate decline, I personally believe that we should be careful to prevent the white horse stock performance growth rate is not as expected by the market, once the performance growth rate is not as expected by the market, the institutional holdings of the loosening of the holdings, the group holdings of the collapse of the stock is prone to stock price adjustments.
The north has been the market as smart money, become part of the institutional investment in the shadow stock, from the large group of laser performance decline, the north may not be the gods, every time is as wise as a torch.
First of all, correct this problem, the big laser did not pre-loss ah, at least pre-decrease, net profit reduction only, not to loss!
Daqi Laser is more dependent on Apple, Apple is not down, so the profits fell.
During the period from January 1, 2019 to June 30, 2019, the company is expected to have a net profit of 360 million yuan - 410 million yuan, a decrease of 60% - 65% compared to 1.019 billion yuan in the same period of the previous year.
During the forecast period, subject to the cyclical downturn in the consumer electronics industry and the impact of cautious capital expenditure by some industry customers, the Company expects its operating income to decrease by approximately 7% compared with the same period of the previous year, and due to the impact of the product structure and market competition, the Company's consolidated gross margin is expected to decrease by 5-6 percentage points compared with the same period of the previous year; during the forecast period, due to the impact of exchange rate fluctuations the Company's foreign exchange gain decreased by approximately 35 million yuan; the same period last year, the company partially disposed of Shenzhen Mingxin Test Equipment Co., Ltd. and PRIMA's equity, the total net profit attributable to shareholders of listed companies in the same period last year, the impact of about 187 million yuan.
See? The main reason is the downturn in the cell phone industry.
The cycle of cell phones and car cycle is basically the same, the decline of cell phones began earlier, in fact, from the end of 2017. Cars started in July of last year.
Consumption in both industries continues to be sluggish, and cell phones are mainly due to the lack of innovation, coupled with the 5G replacement expectation, which leads to users postponing the replacement.
How bad is the cell phone industry? Let's look at the data
In June, the number of new domestic cell phone devices 29.69 million units, a slight increase of 3% from the previous year, down 22% year-on-year. the number of new devices in Q2 2019 totaled 85.55 million units, a decline of 21.6% year-on-year, of which Huawei's sales were basically flat year-on-year.
More than 20% decline in the second quarter, worse than the car ah! This 5G expectations really killed the cell phone industry, hurry to implement 5G. However, it is quite heartening to see Huawei sales not falling! Those who said not to buy Huawei, where are you?
As Da Nu Laser relies heavily on the cell phone industry, its laser equipment is used in the production of cell phones, so it is also dragged down by the cell phone industry.
However, the decline of more than 50%, indeed, more than the cell phone industry decline ah! This shows that the competition in the industry is also very fierce, which also reflects that the core competitiveness of the Daqi laser is not particularly outstanding.
I hope that high-power lasers hurry to mass production, low-power competition is too fierce ah!
On the large laser performance pre-loss thing, should be seen from the announcement of the situation, the performance of the large laser has seen a significant decline in the year-on-year cycle to reduce the more than 60%, and there is no loss, but only compared to the same period last year, the overall performance is still maintained a certain amount of growth.
Da Nu Laser has always belonged to the top companies in the field of high technology, in the relevant field in an irreplaceable position, the most striking is that the proportion of foreign capital holding Da Nu Laser reached 28%, can not buy, can only choose to sell.
Foreign investment in the A-share market focuses on value, so foreign investors can continue to buy shares of Daqi Laser, indicating that Daqi Laser has a very strong value in the eyes of foreign investors, and the proportion of the purchase reached the upper limit, indicating that in the value of the level of foreign investors for Daqi Laser is very optimistic.
From the early development point of view, the profitability of the laser is very strong, the average annual profitability has reached more than 50%, which is a high-speed growth trend, an enterprise in the development of the early stage of the realization of the business of high-speed growth in the medium term to a relatively stable growth, which is a very normal profitability curve, the laser has experienced a high-speed growth in the early stage, and now the revenue is relatively relatively stable, there is a certain drop back. Stable, there is a certain fallback, is a normal phenomenon.
At the same time, from the perspective of industry development, the last two years, the ability of science and technology competition continues to strengthen, but also will compete for a certain market share, the pressure of not advancing or retreating, will allow some technology stocks rapid growth space to be limited, this time to see who has a stronger breakthrough ability, once the breakthrough in the development of bottlenecks, will be able to cocoon into a butterfly to become a giant company. Individuals are still more optimistic about the future of the public laser, although revenue fell year-on-year, but the business is more normal, still has the status of leading technology, it is worth focusing on.
The same period of the previous year attributable to listed companies than the same period of the previous year down: 60% -65% Company shareholders' net profit profit: 101,859.79 million yuan Run profit: 35,650.93 million yuan - 40,743.92 million yuan Secondly, the performance of the preview of the pre-audit situation of the performance forecast related to the financial data has not been pre-audit by a certified public accountant. During the forecast period, subject to the cyclical downturn of the consumer electronics industry and the influence of cautious capital expenditure of some customers in the industry, the Company's operating income is expected to decrease by about 7% compared with the same period of the previous year, and the Company's consolidated gross profit margin is expected to decrease by 5-6 percentage points compared with that of the same period of the previous year due to the influence of the product structure and competition in the market; during the forecast period, due to the influence of exchange rate fluctuation, the Company's exchange gain is estimated to decrease by about 35 million yuan compared with that of the same period of the previous year. Reduce about 35 million yuan;
Daqo Laser is a laser and supporting equipment in Shenzhen, counting more old companies. Performance is only a year-on-year decline, no loss, proving his ability to make money. Plus now the economic environment is bad, many factories are closed.
Personal advice in the short and medium term can play the bottom position below 30 blocks, the highest price in this period of time 60.45, half of the discount to buy, 20 of 25 can be added, over 45 to throw (personal advice, do not provide any direct advice)
Da Nu Laser July 13, 2019 announcement:
2019.1.1 to 2019.6.30 Profit of about 356.5 million dollars, compared to earnings of almost 1 billion dollars in the same period last year. Just a drop in earnings no loss.
Reasons for the decline in earnings:
1. industry customers tend to be cautious in capital expenditure;
2. cyclical downturn in the consumer electronics industry and exchange rate fluctuations;
3. product structure and market competition;
The capital market is still optimistic about the Daqi laser, the company is expected to 19 to 21 years EPS were:1.34, 2.2, respectively. 2.3. If valued at 24 times PE, corresponding to the share price of 52.73 yuan, maintain the buy rating.
Short-term investors to avoid. Medium and long term investors can buy. The best point of purchase is to step back on the 20-day average in batches and buy low.
For a listed company, its profitability will be affected by a variety of factors. Including changes in market demand, the rising cost of raw materials, rising wages for labor, and, in the case of a foreign trade enterprise, the impact of international political factors.
Daqi Laser is a high-end equipment company engaged in laser, robotics and automation technology in the field of intelligent manufacturing solutions. This time, the midterm report fell 60%, so that investors were shocked. It has always been the impression that this company, Grand Laser, is a high-performing enterprise, but in the performance forecast disclosed on the evening of July 12, it is expected that the net profit for the first half of 2019 will be 357 million to 407 million yuan. Year-on-year decline of 60% to 65%. Subject to the cyclical downturn in the consumer electronics industry and the impact of overly cautious capital user spending in some industries, the company expects operating income to decline by 7% compared with the previous year. (A) how to see:
1, business operations can not always smooth sailing, business both certainly will be affected by a variety of factors. In fact, this is the biggest risk of investing in business, some factors can be predicted, some factors are not measurable. So the large laser company performance changes is also a very normal thing, which is not at all rare in the capital market. Wasn't there another company before that said its scallops ran away and affected its performance that year? So whether a company is good or not, sometimes we should not look at what the company says, but look at the final result. As the saying goes, it is only when the tide goes out that we know who is swimming naked.
2, in recent years, with the implementation of the national strategy of high-quality development, to promote the structural reform of the supply side, to promote the strategic adjustment of the economic structure, some of the traditional manufacturing enterprises are also facing a difficult transition, on the one hand, to continue to eliminate backward production equipment, on the other hand, but also to face the impact of the rise in the cost of other raw materials, such as labor costs. For an enterprise, the revenue situation is mainly composed of the following aspects, one aspect is the enterprise's raw material costs, if raw material prices continue to rise, then the company's costs will increase, followed by the cost of land, such as with the rise in housing prices, the increase in rents, the enterprise cost will increase, in addition to the management costs, if the enterprise operation and management is not strict, imperfect, there are a lot of In addition, there are management costs, if the enterprise management is not strict, imperfect, there are many loopholes, will also cause a lot of losses, as well as the increase in the wages of enterprise employees, social aspects of the economy, the political environment, changes in the total social demand and so on.
(2) how to do
1, from the point of view of the enterprise to deal with this situation, on the one hand, is to strive to reduce the cost of production of enterprises. Objectively some of the rising prices of raw materials, which is beyond the control of enterprises, but enterprises can control their management in the production and operation process, all aspects of the cost. Efforts to reduce the management costs of enterprises, reduce unnecessary expenditures, to slim down the company. In addition, the increase in wages of enterprise employees, this is sometimes also can not control, generally in times of economic crisis, companies often through layoffs and reduce wages of enterprise employees to maintain business operations. In short, from the point of view of the enterprise to do a good job of market research and study, know your enemy and know yourself, and make positive preparations to deal with.
2, from the investor's point of view, if you are a large group of laser this company's stock holders, then you have to consider whether to sell or buy this company's stock. If you are confident about the future growth of this company's stock performance, you can continue to hold. Similarly, if you are not very optimistic about the company's future prospects, you can take advantage of the relatively high levels to sell the stock. Looking at the stock holder structure of this company, the company is mainly institutional investors with some foreign investors. Out of the need for the introduction of the Science and Technology Innovation Board, the country's emphasis on the development of science and technology. Some fund companies have made allocations to science and technology enterprises, and in the past few years, the stock price of this company has been in a slow-bull pattern. Currently showing a downturn.
I personally believe that the current investment in Da Nu Laser is not very rational, because in general, the company's stock price is a bit on the high side. The overall presentation of a downward trend, combined with the current market environment is not particularly good, generally to avoid this kind of weak stock.
This is my point of view, and I welcome your criticism.
Daqi Laser this disclosure of the 2019 semi-annual report performance is not a pre-loss, but a pre-decline, is expected to achieve a net profit of 356 million yuan -407 million yuan than the same period last year, down 60% -65%, after deducting the non-recurring gains and losses in the disposal of equity matters during the same period last year, the net profit is also a year-on-year decline of 51% -57%. Such performance, for the big laser is obviously negative.
On the one hand, in the past, the large laser in 2014-2018 have realized net profit year-on-year growth, is one of the white horse stocks in the A stock market, the market for its performance there are greater expectations, in the stock market, less than the expected is a "sin" type of shortcomings;
On the other hand. This time the big laser in the quarterly net profit fell 55.92% year-on-year background, half-yearly report again fell 60% -65% year-on-year, which means that the big laser in the second quarter also failed to reverse the company's operating decline in the field of laser processing equipment.
Reflected in the performance of the reasons for the decline, excluding non-recurring gains and losses, respectively, are subject to the cyclical downturn in the consumer electronics industry and part of the industry customers tend to be cautious in capital expenditure, the company's integrated gross margin down 5% -6% and exchange rate fluctuations, the fundamentals of the poor, the company's secondary market will be buried in the stock price time bomb.
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Good year, bad year of stocks, just by a bunch of chicken essence to hold up the sky, I really dare not buy such a ticket, China is now more than fifteen tickets try not to go to buy, Lei a whole lot of this is not, the chicken essence of the favorite and mine. Chicken essence actually like to report to the group, to study them to make money, you will see to others to play mahjong will not win!