In the first half of 2018, the domestic and international economic environment was extremely complex, and China's macro economy continued to develop steadily. Sino-US trade disputes made the external economic environment full of uncertainty, and the domestic lighting industry market became more competitive. Sanxiong Aurora gives full play to the company's dominant position and brand influence in the field of commercial lighting, while vigorously expanding the home lighting market, accelerating the opening of lighting product stores, actively exploring hardware channels, increasing the coverage of the marketing network and the distribution density of sales terminals. Make the company's operating income continue to grow. However, due to the increase in market investment and the decline in product gross profit margin, the company's operating profit after non-deduction during the reporting period fell year-on-year. In the first half of 2018, Sanxiong Aurora achieved operating income of 1.063329 million yuan, a year-on-year increase of 11.77%; of which LED lighting products were 924.2172 million yuan, a year-on-year increase of 17.44%; traditional lighting products were 99.6392 million yuan, a year-on-year decrease of 24.59%. LED products have accounted for 90.27% of the total revenue of lighting products. The net profit attributable to shareholders of listed companies was 94,203,400 yuan, a year-on-year increase of 6.15%. Although the company's operating income grew steadily in the first half of the year, as home lighting products, especially lighting products, entered the stage of rapid market investment and hardware channels were also in the market development period, the company's sales expenses in the first half of the year increased by approximately 34.67 million yuan year-on-year, mainly due to the market This is due to the substantial increase in advertising expenses and other related expenses brought about by expansion and marketing efforts. The substantial increase in sales expenses caused the company's net profit after non-deduction in the first half of the year to drop by approximately 17.58 million yuan year-on-year, a decrease of 25.37%. At present, Sanxiong Aurora’s sales market is dominated by professional lighting markets such as commercial lighting and tooling lighting, and its channel network is dominated by first- and second-tier cities. It has high requirements for professional technical service capabilities and service response speed. In order to further expand the market space, the company accelerates the expansion of the home lighting market under the premise of consolidating its relative leading advantage in the professional lighting field, and provides users with more timely and professional services. In the first half of the year, Sanxiong Aurora increased the sinking of its physical marketing network channels, further developed distributors in second and third-tier cities, and extended sales channels to third- and fourth-tier cities, vigorously explored hardware channels, and increased the coverage and density of the company's sales channels. Continue to improve the establishment of sales terminals. In the first half of the year, the company newly built more than 500 professional terminals and household terminals, and developed more than 300 new hardware showcase terminals. As of the end of the reporting period, the total number of the company's home lighting product specialty stores or specialty areas was approximately 2,000. At the same time, the company has also carried out higher standards and image upgrades for the decoration and decoration of some sales terminal specialty stores, which has improved the store image of the company's sales terminals and the consumer experience of the majority of consumers. In terms of e-commerce channels, Sanxiong Aurora continued to improve the construction of the e-commerce operation team and increase resource input. In addition to opening flagship stores on Tmall and JD.com, the company added Vipshop flagship stores during the reporting period to further develop professional e-commerce channel distributors. In order to better expand overseas business, Sanxiong Aurora opened a new office in Dubai in the first half of the year to provide customers in the Middle East and surrounding regions with better business docking and services. In the first half of the year, Sanxiong Aurora continued to promote brand building to build a high-end lighting brand in China. During the reporting period, the company and the Manchester City Football Club of the United Kingdom renewed a strategic cooperation agreement and continued to maintain a cooperative partnership with the Manchester City Club; participated in the Indonesian International Lighting Exhibition, the 2018 Australian International Building Materials Exhibition, the Shanghai Hotel Engineering Design Exhibition and other large domestic and foreign exhibitions. High-quality products are widely concerned and affirmed by customers; the first Sino-British lighting design salon was successfully held in the UK, absorbing foreign advanced lighting technology and design concepts, and at the same time effectively promoting the Sanxiong Aurora high-end lighting brand; in the core city airports, The high-speed rail and other companies put poster advertisements to comprehensively increase the exposure of Sanxiong Aurora brand; conduct in-depth brand communication through Weibo, WeChat, Baidu and other social media platforms to attract more online clicks. Through multiple measures, the company's brand awareness and influence among consumers have been further expanded. Sanxiong Aurora is guided by market demand and continues to increase independent innovation, increase new product research and development, technology upgrades, and process improvements to further enhance the company's product market competitiveness. In the first half of the year, the company invested 20,043,700 yuan in research and development, a year-on-year increase of 22.41%, accounting for 1.89% of operating income. Commercial lighting, tooling lighting and other professional lighting have very strict standards and requirements for product professional technical parameters, quality stability, etc. The company’s R&D department makes full use of the industry’s professional technical advantages accumulated over the years, and at the same time strengthens the integration of external resources such as universities, International cooperation on professional subjects such as, optics, etc. In order to ensure that the company's product quality meets the design standards, the company's R&D department will also intervene in the product design work of key component suppliers in different forms. Professional lighting products sometimes need to be customized according to the needs of users, while home lighting products have higher requirements for appearance diversity. In order to meet the needs of different markets, the company has optimized and expanded the R&D team and continuously developed new products to the market. , To meet the needs of different markets. Sanxiong Aurora has relatively complete manufacturing capabilities, and has formed its own unique control system in terms of production technology, process control, product quality control, etc., which effectively ensures that professional lighting fixtures have stricter product quality, technical parameters, and delivery dates. Need to provide strong support and guarantee for the sales market. Efficiency improvement and quality improvement are the eternal theme of production and manufacturing. The company's manufacturing bases continue to improve production efficiency through automated transformation of production lines, purchase of automated production equipment, optimization of production scheduling models, and process improvements to meet the growing market needs. During the reporting period, the company implemented more than 10 automation technology transformation projects with greater impact, and the production efficiency of the corresponding production links has been improved to a certain extent. Through the continuous transformation of automation technology, the company not only improves production efficiency, but also promotes the steady improvement of the company's product quality. Since its listing in March 2017, the management of Sanxiong Jiguang has actively promoted the implementation of fundraising projects. The company's physical marketing network sinking, improving and expanding projects are progressing smoothly, terminal construction and channel sinking related work is progressing rapidly; O2O e-commerce platform construction projects and cross-border e-commerce overseas market expansion projects are being carried out in an orderly manner as planned; R&D center expansion and upgrading projects Add Sanxiong Technology as the main body of implementation, and change the implementation location from No. 1 Lanbei Road, Lanhe Town, Nansha District, Guangzhou to Shiqi Town, Panyu District, Guangzhou City where Sanxiong Technology is located; add Zhaoqing Sanxiong as the LED intelligent lighting production base construction project Implementation subject; LED green lighting expansion construction project completed the construction of part of the plant. Due to the complicated approval procedures for infrastructure projects, the company's progress in fund-raising projects involving infrastructure construction projects has been delayed, and the investment progress is somewhat different from the original plan. According to the actual construction situation and investment progress, the company has postponed the time for the LED smart lighting production base construction project and the LED green lighting expansion construction project to reach a usable state. Before the fund-raising project is put into production, the company will increase production capacity through technological transformation and automatic transformation of production lines, or meet market growth needs through OEM. Up to now, the company's business growth has not been restricted due to production capacity issues. Further optimize the business process, and continuously improve the company's management level and operational efficiency In the first half of the year, Sanxiong Aurora continued to optimize the internal business processes and division of functions, continued to promote the standardization and information construction of the company's management, continuously improved the processing efficiency of information flow, and continuously improved the company's management capabilities and overall operational efficiency.
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