As of March 10, 2016, from the 33 LED-related listed companies that have announced their annual results for 2015, there are 16 companies with double revenue and net profit, and 10 companies with double declines. In addition, there are two companies (diligence and Meida) that there is no increase in profits. The revenue growth is relatively obvious, including Zhou Ming Technology, Lian Jian Optoelectronics, Liard, Hongli Optoelectronics, Changfang Lighting, Wanrun Technology, Weiwei, Snowlight, Maoshuo Power and Jingsheng Electromechanical. Loss-making enterprises include: Huacan Optoelectronics, Ganzhao Optoelectronics, Tianlong Optoelectronics, Keheng, and Kangqiang Electronics. The net profit decreased significantly compared with last year: Jufei Optoelectronics, Foshan Lighting, Ocean King.
The analysis of the positive factors of business growth is as follows:
(1) The LED lighting market has good demand, the leading enterprises have perfect management, stable operation, increased market expansion, and maintained stable growth in the main business;
(2) Extensive expansion of enterprises, integration of mergers and acquisitions, merger of financial statements, and significant growth in revenue. Ruzhou Ming Technology will include its holding subsidiary Redio in the consolidated statement, Lianjian Optoelectronics to complete the acquisition of 100% equity of Youtuo Public Relations and 100% equity of Easystar and the acquisition of 28.4% equity of Accumulated Focus Media, Liard Feng Culture and Jin Lixiang merged into the consolidated statements, Changfang Lighting acquired 60% equity of Kang Mingsheng, Shell Wright will merge the operating income of Fushun Optoelectronics Technology Co., Ltd., and Moso Power will acquire Fangzhengda, and the FPC business will be included in the consolidated statements. In addition, Wanrun Technology has frequent actions, acquiring Sun Microelectronics, participating in Zhongshan Auman, investing in Changchun Wanrun to integrate high-end assets of LED in the middle and lower reaches, improving the industry chain, and simultaneously integrating three Internet advertising media companies through acquisition and equity participation. To foster new and continuously growing sources of profit, enhance the company's profitability and comprehensive competitiveness.
2015 Guangdong LED Partial Enterprise Financial Report 
2. Key LED listed companies' assets increased by 20.63%
As of March 2016, only a few companies have announced their full-year financial results, so the following three temporary financial reports are used temporarily.
As of the third quarter of 2015, the total assets of 28 key listed companies with LED as the main business in the country totaled 103.894 billion yuan, an increase of 20.63% compared with the beginning of the year. Among them, the growth of Qiwei's assets reached 326.27%, and Wanrun Technology increased 108.38. %, Lianchuang Optoelectronics 87.42%, Changfang Lighting 71.08%, Lianjian Optoelectronics 53.98%, Foshan Lighting 48.03%, Moso Power 43.50%, Mulinsen 31.75%.
In 2015, the expansion of assets of LED listed companies, in addition to contrarian capital increase and expansion, the most prominent is the asset restructuring brought by mergers and acquisitions. According to incomplete statistics, in 2015, the amount of M&A in the LED industry has exceeded 30 billion yuan (6 billion yuan in 2014 and 2.6 billion yuan in 2013). The number of M&A targets and the amount of M&A have doubled. The scope of M&A involves the whole industry chain, horizontal mergers and acquisitions, and vertical mergers and acquisitions. Cross-border mergers and acquisitions, overseas mergers and acquisitions are surging, and heavy-duty mergers and acquisitions led by LED listed companies or key enterprises are frequent.
Figure 2: Assets and growth of key LED listed companies nationwide as of September 2015
3. LED key listed companies' revenue increased by 14.52% year-on-year.
From January to September 2015, the operating income of 28 LED companies was 32.765 billion yuan, a year-on-year increase of 14.52%. There are 12 enterprises with an operating income of over 1 billion yuan, namely Sanan Optoelectronics (operating income 3.602 billion yuan, the same below), Dehao Runda (3.351 billion yuan), Sunshine Lighting (3.130 billion yuan), and Mulinsen (2.887 billion yuan) ), Foshan Lighting (2.232 billion yuan), Lianchuang Optoelectronics (1.790 billion yuan), Silan Micro (1.419 billion yuan), Guoxing Optoelectronics (1.334 billion yuan), Hongli Optoelectronics (1.135 billion yuan), Liard ( 11.24 billion yuan), Lianjian Optoelectronics (1.088 billion yuan), and Changfang Lighting (1.018 billion yuan). In terms of growth, companies with a growth rate of more than 30% year-on-year include Qiwei (77.18%), Hongli (65.24%), Liard (55.41%), and Changfang Lighting (49.81). Wright (46.05%) and so on.
Figure 3: LED key listed operating income and growth from January to September 2015
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