[Text / high-tech LED Zhao Hui] Even if the gross profit margin is the first in the lighting industry to reach 71%, the loss of the special lighting company Ocean King in the second quarter of 2015 still exceeds 35 million yuan. This result has made people in the industry call "I don't understand."
On the evening of August 31, Ocean King (002724.SZ) disclosed the 2015 semi-annual report. According to the financial report, from January to June 2015, Ocean King Lighting's operating income was 343 million yuan, down 18.14% year-on-year; the net profit attributable to shareholders of listed companies was 15.5613 million yuan, down 143.49% year-on-year.
The most embarrassing thing is that Ocean King achieved a net profit of RMB 20,075,500 in the first quarter of 2015. That is to say, in the second quarter alone, Ocean King lost more than 35.56 million yuan.
Ocean King’s net profit for the whole year of 2014 was only 35.78 million yuan. Ocean King’s profit loss last year was exhausted. This amazing rate of loss can not help but surprise.
According to the financial report data, the comprehensive gross profit margin of Ocean King Lighting is as high as 70.62%, which is definitely the highest in the lighting industry. In the same period of 2014, Ocean King's comprehensive gross profit margin also remained at 70.52%. The same gross profit margin, even if operating income fell by 18%, net profit from the same period last year's profit of 35.78 million to the current loss of 15.56 million yuan, the rapid decline is also incomprehensible.
Ocean King explained in the China Daily that “the company paid a total of 25,641,700 yuan in employee compensation in the supply chain management department, quality assurance department and laboratory in the first half of 2015.â€
The data shows that Ocean King Lighting's sales expenses in the first half of the year amounted to 181 million yuan, while the operating cost for the same period was only 101 million yuan, and the sales cost was nearly double the operating cost, which is almost impossible in the general production enterprise or lighting industry.
This is not an accident.
According to the financial report data, the gross profit margin of Ocean King Lighting in 2012, 2013 and 2014 was as high as 71.11%, 71.84% and 71.83% respectively. At the same time, the corresponding sales expenses were 456 million yuan, 447 million yuan and 433 million respectively. Yuan, the most incredible thing is that as a production-oriented enterprise, the sales expenses in these three accounting periods are far higher than the cost of the main business in the same period.
This is all due to the unique sales model of Ocean King.
Gaogong LED has published in November 2014 a detailed description of Ocean King Lighting's “freak†between more than 2,000 salespeople in nearly 800 service departments, relying on high-margin and high-profit companies and 133 service centers across the country. Sales model. For related articles, please click: http://
Ocean King is specialized in the research, development, production, sales and service of special environmental lighting equipment. The products are widely used in electric power, metallurgy, railway, oil field, petrochemical, public security, fire, coal, military, port, stadium, civil aviation, ship and machinery. Manufacturing and other industries. The company's main products cover fixed lighting, mobile lighting and portable lighting equipment, a total of more than 200 models of special environmental lighting equipment system.
Because these companies have extremely high response time requirements for lighting equipment and are generally remote, forcing Ocean King Lighting to arrive at the National Construction Service Center and Service Department to meet customer demand within 24 hours (72 hours in special cases) The requirement of providing lighting services on site has also led to the dilemma of the high cost of marine king sales.
Although Ocean King has a first-mover advantage in the field of special environmental lighting, the days of Ocean King are becoming "difficult" due to the continued downturn in the macro economy and the intensified competition in the special environmental lighting industry.
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