Ledman(SZ:300162)2023-05-05 10:26Group 1: Company Strategy and Development - The company will continue to focus on the LED high-tech main business, implementing the "Seven New Strategies" to enhance technology and craftsmanship, maintain a leading edge, and expand market penetration [2][9]. - The company plans to raise up to 689 million yuan for a project to expand COB ultra-high-definition display capacity to 72,000 square meters and to supplement working capital [3][6]. Group 2: Market Outlook and Industry Trends - The LED display industry is a key emerging industry supported by national policies, with expected shipments of small-pitch LED displays in mainland China reaching 18 billion yuan in 2023, a year-on-year increase of 9.1% [3]. - The COB market currently accounts for 10% of the overall small-pitch market, with projections indicating it could reach 33.1% by 2027, with sales exceeding 15 billion yuan [6]. Group 3: Competitive Advantages - The company possesses a complete production capacity for various COB technologies, including conventional SMD and creative display products, catering to diverse customer needs [4][5]. - The company has accumulated over 500 domestic and international patents, including more than 80 related to COB technology, establishing a robust intellectual property system [4]. Group 4: Financial Performance - In 2022, the company reported a net profit of 31.1012 million yuan, a decrease of 34.46% year-on-year, primarily due to delays and cancellations in domestic projects [6][7]. - The company's comprehensive gross margin improved by 2.36 percentage points in 2022 compared to 2021, indicating a steady enhancement in profitability [8]. Group 5: International Business and Expansion - The company's international display business achieved revenue of 447 million yuan in 2022, a year-on-year increase of 26.70%, with growth in North America, South America, and the Asia-Pacific region [7]. - The company is actively expanding its business scale and extending its industrial chain, particularly in the LED display sector [6].