Yesterday (6), Leyard released the latest investor survey related information, revealing the operating status of 2020 and future planning.
The major changes in 2020 performance are caused by the provision of goodwill
Leyard said that the major changes in the 2020 performance forecast net profit are due to goodwill accruals. The global epidemic has had a greater impact on the overseas display business, the domestic night tour economy, and the cultural tourism business. The company has made a corresponding goodwill impairment on this, making the net profit in 2020 a loss for the first time since its listing.
In addition, Leyard also mentioned that the company’s inventory in the third quarterly report for 2020 was significantly reduced because of changes in accounting standards. The night tour economy business recognizes revenue according to the percentage of completion method. The part of “completed but not settled” previously recorded in “inventory” is transferred. Into “contract assets”.
Micro LED consumer TV may be launched in 2021
Leyard’s domestic display segment will maintain good growth in 2020, especially the breakthroughs made in Micro LED technology and the commissioning of mass production bases; conventional display products such as small spacing have also achieved expected development.
At present, the company’s promotion of Micro LED products is mainly in the domestic market, and the overseas Micro LED market promotion has not yet started. If the global epidemic is stabilized in 2021 and the company’s production capacity is in place in time, it will rapidly increase overseas expansion.
Leyard said that the current plan for Micro LED products is still focused on commercial self-luminous products, and samples of backlight products are sent in small batches. If the time is right in 2021, the company also plans to launch Micro LED products for consumer TVs and officially enter the consumer market.
According to LEDinside, the brand used by Leyard in the consumer sector is Planar. In 2020, Leyard spent more than half a year to cultivate the market of Planar brand TVs, and also began to develop and promote consumer electronic products such as audio and lighting to create a consumer electronics ecosystem.
Leyard Micro LED production capacity has basically been in full production since October. Leyard said that he initially thought it was a concentrated outbreak of some orders that did not land in the first half of the year after the domestic epidemic was brought under control. However, from the current point of view, it should still be due to industry adjustments brought about by industry concentration and integration. Companies with a higher market share will enjoy the dividends brought about by this industry adjustment, the more obvious it will be.
In addition, with regard to the issue of Lijing’s production expansion, Leyard stated that the company has set a plan for two phases during the joint venture with Jingdian. The first phase is from 2020 to 2022, and the production will be completed by the end of 2022; the second phase will be followed by the third phase. Year planning. If the first phase reaches production ahead of schedule and the market demand is also very full, the company will start the second cycle of expansion.
Resource integration by leading companies in the future will be the trend
Leyard said that the merger of Jingdian and Longda, just like the establishment of a joint venture company between Jingdian and Jingdian, indicates that the integration of resources in the upstream and downstream of the industry chain is becoming more obvious.
As a new type of technology, Micro LED is different from other display technologies in the path of mass transfer technology, so it requires upstream and midstream or downstream integration. Only if the technological path is consistent can we expand the development of new products along the technological path.
Leyard believes that it will become a major trend for leading companies in the LED industry to integrate or match resources with each other in the future.
In 2021, the development direction of night travel and cultural tourism will be gradually adjusted
On the whole, although the company encounters force majeure that will affect its performance in 2020, the strategic promotion is still in progress. The company is more optimistic about the prospects for development in 2021 and beyond, and the certainty is relatively large.
Looking forward to 2021, Leyard will continue to conduct research and development on new products and technologies, and increase the market promotion of original products. The night travel and cultural tourism sectors will stabilize at the same scale in the short term. At the same time, the company will gradually adjust the business development director of the two sectors.