Caihong's revenue in 2019 is 5.860 billion yuan, and its loss margin in the first quarter of 2020 will be expanded

On April 30, rainbow Co., Ltd. released its annual report for 2019 and its first quarter financial report for 2020. According to the annual report, in 2019, the company achieved an operating revenue of 5.86 billion yuan, including 4.66 billion yuan of LCD panel revenue and 321 million yuan of glass substrate revenue. In 2019, the net profit attributable to the parent company will be 64.8964 million yuan.

According to the first quarter financial report, the company achieved a total operating revenue of 1.763 billion yuan, a year-on-year increase of 47.31%; and a net profit attributable to the parent company of - 580 million yuan, a year-on-year increase of - 330 million yuan, expanding the loss margin. During the reporting period, the company's gross profit rate was - 14.6%, up 1.1% year on year, and its net interest rate was - 33%, down 5.1% year on year.

According to the annual report, in 2019, the company produced 1.8713 million pieces of liquid crystal substrate glass and sold 1.7843 million pieces of liquid crystal substrate glass; in total, 11.341 million pieces of liquid crystal panel were produced and sold 11.7751 million pieces in total.

As for the main reasons for the increase of the company's LCD panel and substrate glass revenue in 2019 compared with that in 2018, rainbow said that: (1) the first and second phases of LCD panel projects in this period have been transferred to fixed operation, and the production and sales volume of panel products have increased compared with the previous year, and the revenue has increased; (2) the post processing production line of G8.5 glass substrate has been transferred to fixed operation in this period, and the product revenue has increased.

Rainbow said that in 2019, the company accelerated the adjustment of industrial structure, made great efforts to promote the construction of key projects, orderly promoted all business work as planned, steadily improved the production yield of g8.6 LCD panel, significantly reduced cost and increased efficiency, and entered the substantive stage of am-woled technology research and development. According to the industrial development direction of "high efficiency, large size and refinement", LCD substrate glass is rapidly promoted, the comprehensive efficiency of g7.5 production line is greatly improved, and the operation scale is steadily and efficiently expanded. The first domestic overflow process G8.5 + base plate glass production line independently designed and developed by the company completed the construction plan in advance, ignited the operation, and smoothly transferred to the trial production stage.

It is noteworthy that, according to the announcement, in 2019, rainbow shares has recognized a total of 2.176 billion yuan of government subsidies. Previously, rainbow Co., Ltd. disclosed in the announcement that Xianyang rainbow Optoelectronic Technology Co., Ltd., the holding subsidiary of the company, received the relevant government subsidy notice issued by the high tech Zone Branch of Xianyang Finance Bureau in 2019. In order to promote the rapid development of the enterprise, it has allocated 2 billion yuan of various subsidy funds to rainbow optoelectronic for the operation and development of rainbow optoelectronic.

Looking forward to the future, rainbow shares said that in recent years, the terminal display market demand continued to grow, driving the scale of flat panel display industry to continue to expand.