Chenfeng Technology and Langte Intelligence release 2023 performance report

Recently, two LED lighting-related companies, Chenfeng Technology and Langte Intelligence, announced their 2023 performance reports. Among them, Chenfeng Technology’s revenue and net profit both increased, while Langte Intelligent’s performance declined.

Chenfeng Technology: LED lighting structural parts business drives performance growth

In 2023, Chenfeng Technology achieved revenue of 1.243 billion yuan, a year-on-year increase of 6.94%; net profit attributable to the parent company was 84 million yuan, excluding non-net profit attributable to the parent company of 23 million yuan, turning a loss into a profit year-on-year.

Chenfeng Technology is engaged in the research and development, production and sales of LED lighting structural parts, and is committed to the technology research and development and process improvement of green energy-saving lighting appliances. In addition, Chenfeng Technology is also optimistic about and layouts the development prospects of incremental distribution network operations, wind power generation, photovoltaic power generation and other business fields, and creates a dual-main business model of "LED lighting structural parts + new energy industry".

During the reporting period, Chenfeng Technology focused on the core business of LED lighting structural parts, optimized the production capacity layout, promoted the construction of investment projects in an orderly manner, improved the standardization level of the enterprise, controlled costs and improved efficiency, and achieved a turnaround in operating performance.

In the LED lighting structural parts business, Chenfeng Technology mainly produces LED bulb radiators, lamp holder products, printed circuit boards, lamp metal parts and related products. Among them, Chenfeng Technology’s printed circuit boards, lamp metal parts and related products achieved year-on-year revenue and gross profit margins during the reporting period. Growth, LED light bulb radiator products achieved gross profit margin growth. It is worth noting that in 2021, Chenfeng Technology raised 209 million yuan to invest in a production line for high-power LED lighting structural parts and kitchenware accessories. The project is expected to reach the scheduled state of use in June this year.

In terms of new energy business, Chenfeng Technology successively acquired 100% equity of Liaoning Jinqilin, 100% equity of Guosheng Electric Power, 85% equity of Guangxing Power Distribution, 100% equity of Wangtian New Energy, 100% equity of Guangxing Power Generation and 100% equity of Dongshan New Energy during the reporting period to carry out incremental distribution network operations, development and operation of wind power stations and photovoltaic power stations. In addition, the company has also been deeply involved in a number of incremental power distribution business reform pilot projects.

Langte Intelligence: Revenue and net profit both declined

In 2023, Langte Intelligence achieved revenue of 1.029 billion yuan, a year-on-year decrease of 20.31%; net profit attributable to the parent company was 109 million yuan, a year-on-year decrease of 40.09%.

Langte Intelligence is engaged in the business of intelligent controllers and intelligent products. The products are mainly used in smart homes and home appliances, lighting, automotive electronics and new consumer electronics and other industries.

During the reporting period, Langte Intelligence was affected by various factors such as weak demand in the downstream market, customers slowing down market investment, and fierce product price competition. Overall sales and gross profit margins declined.

Among them, the intelligent controller segment achieved operating income of 540 million yuan, a year-on-year increase of 3.34%; the smart home and home appliance business achieved operating income of 208 million yuan, a year-on-year decrease of 34.37%; the automotive electronics business achieved operating income of 88 million yuan, a year-on-year decrease of 25.08%; the consumer electronics business achieved operating income of 225 million yuan, a year-on-year increase of 201.66%. (Compiled by LEDinside Irving)

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