Jufei Optoelectronics '2022 net profit of 188 million yuan fell 30.72% year-on-year

On March 24, Jufei Optoelectronics (300303) released its 2022 annual performance report. The announcement showed that the total operating income for 2022 was 2,261,793,903.64 yuan, down 4.62% from the same period last year; the net profit attributable to shareholders of listed companies was 188,211,661.09 yuan, down 30.72% from the same period last year.

The announcement shows that Jufei Optoelectronics's total assets were 4,914,303,299.20 yuan, down 0.83% from the beginning of this report; basic earnings per share were 0.14 yuan, compared with 0.21 yuan in the same period last year.

In 2022, the domestic and international economic environment is complex and changeable, demand for consumer electronics products is weak, and operating income from traditional products continues to decline. However, with the rapid penetration of automobile intelligence and electronicization and the widespread application of Mini LED product terminals, the company's new businesses with good profitability such as automobile LEDs and Mini LEDs have developed rapidly. The company's internationalization strategy continues to advance, its overseas high-end market share increases, new production capacity steadily expands as planned, and the comprehensive gross profit margin is basically the same as the previous year. In the future, the company will continue to increase investment in R & D and marketing efforts in Mini/Micro LED and automotive LED products to provide a strong guarantee for the company's performance.

During the reporting period, in order to comprehensively improve its comprehensive competitiveness, the company increased investment in research and development of new products and new technologies, ensuring the industry leading position of automotive LEDs, Mini LEDs, Micro LEDs and other products.

During the reporting period, the company established the Mini-Micro Display Business Unit, actively promoted channel construction, increased market development efforts, and introduced outstanding talents in the industry. The overall labor cost increased this year, resulting in an increase in sales expenses and management expenses.

Data shows that Jufei Optoelectronics specializes in the research and development, production and sales of SMD LED products, and its main business is LED packaging. At this stage, the company's development strategy is to deeply cultivate the LED industry and rely on backlight LEDs and lighting LEDs to expand LED businesses such as automotive LEDs, Mini/Micro LEDs, invisible light, and high-end lighting; while ensuring that existing businesses increase global market share, the company also expands into semiconductor packaging (discrete device packaging) and film materials industries, such as power devices, optical devices, and optical films.