Wanrun Technology focuses on LED packaging, and it is not too late to start its backlight and lighting business. Last year, the company's overall sales were approximately 430 million yuan, of which packaging accounted for approximately 70% of revenue, approximately 310 million yuan, and lighting approximately 120 million yuan. "Because of the good quality and high price, the company's LED products were mainly exported in the early days, and now exports still account for 60%. Of course, this situation will change in the future." Hao Jun said.
It is reported that Wanrun's packaging production capacity has gradually expanded since its listing. It is currently about 700KK/month. Compared with other manufacturers' thousands of KK/month, the production capacity is still insufficient. In this regard, Hao Jun's explanation is that "Wanrun's style is more conservative. The company will formulate a production plan at the beginning of each year and divide it into each quarter. Once the order changes, the company will immediately adjust."
In addition, the company has integrated around the backlight industry chain and launched ten backlight "Laiba" production lines in Songshan Lake, which will help improve the company's service capabilities and increase revenue. It is understood that the company's main backlight customer is Konka, and the development of the other two new customers is also progressing smoothly. Taking Changhong as an example, the samples have been completed. Hao Jun said that backlight competition is equally fierce, but slightly better than lighting. There are two reasons. One is the technical threshold, and the other is the industry structure.
Deeply develop commercial license channels
In 2013, the LED market exploded, and home lighting showed a trend of change. Under this situation, various manufacturers are restless and desperate to expand production, and some manufacturers have even invested heavily in channel construction. Hao Jun believes that these practices of LED companies are justifiable, and Wanrun is also very moved. However, the company ultimately decided to focus on developing the commercial license and engineering project markets and not intervene in the residential consumer market for the time being. This is mainly due to the mid-to-high-end positioning of the company's products and the current situation of the company. Commercial consumers focus more on quality, while residential consumers focus more on price.
In the early days of the brutal growth of the LED industry, many manufacturers did not hesitate to use inferior materials in order to lower prices and seize the market, and even offered a ten-year warranty. Nowadays, LED lights on the market even sell for 3-4 yuan each. Hao Jun directly criticized "the quality is difficult to guarantee." According to his judgment, it is still possible to sell an LED lamp with a somewhat reliable quality for more than ten yuan if the cost is well controlled.
Hao Jun bluntly said that channels are Wanrun’s shortcoming. "We attach great importance to this, but it is unavoidable that the company's current annual profits are more than 40 million yuan, and its ability to resist risks is still insufficient." He said, "When the company's profits are 200 million yuan, it will be more appropriate to use tens of millions to build channels." Hao Jun pointed out, "LED lighting prices dropped significantly in 2012, with an annual drop of 30%. In 2013, the drop was very small, about 10%. Since the price has reached an acceptable range, shopping malls have officially entered the stage of large-scale lighting replacement since last year."
Last year, Wanrun won an LED lighting replacement contract for 42 Jingkelong stores, and this year the company successfully entered the Wanda Plaza Chongqing store. "The company hopes that every time it becomes a customer, it will leave a reputation of Wanrun." Hao Jun said.
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