In the past year, Igor was not only listed and listed on the Shenzhen Stock Exchange for the first time, but its operating income exceeded 1 billion yuan for the first time, achieving steady growth.
In recent years, China's manufacturing industry has maintained rapid growth, and the scale of the industry has continued to expand. With the in-depth promotion of “energy saving and emission reduction†and “technical upgradingâ€, energy-saving products such as LED lighting, phase shifting transformers, photovoltaic power generation, and new energy vehicles have been obtained. Good development opportunities and supporting new energy transformer products have been booming, which has led to a surge in product demand for Igor in this field. The company has a broad space for industry development.
According to public information, Igor is a professional supplier dedicated to providing transformer products, complete power supply products and transformer core components to the global market. The main product series include inductive mode power supply products, electronic mode power supply products, special transformers and power transformers. And transformer core components and other five categories.
On May 18th, "2018 Guangdong Investor Relations Management Month in Listed Companies - Face-to-face Exchange Activities between Listed Companies and Institutional Investors", Igor Chairman Xiao Juncheng revealed some future development directions and plans of the company.
In terms of high-frequency transformer products, its high-frequency transformer product fund-raising project is under construction as planned. It is expected that the main project will be completed by the end of 2018, and it is expected to be put into use on schedule in June 2019.
As we all know, the current high-frequency transformer products are mainly used in the photovoltaic power generation industry. Before 2017, they will be mainly exported to Germany, the United States and Japan. In 2018, the domestic photovoltaic power generation industry will pick up. The main domestic customers are large customers such as Huawei and Hefei Sunshine. Igor is currently developing high-frequency magnetic components for new energy vehicles and charging piles, which are currently in the R&D and testing phase and have not yet generated revenue.
In terms of lighting business, Igor is the earliest mass production of LED drive power in China. It is a relatively influential brand in the industry, a relatively rich product line, and product and safety certifications in various countries and regions. According to Xiao Juncheng, chairman of Igor, with the evolution of the industry, Igor's lighting power development direction is: indoor, outdoor and commercial lighting.
At present, the competition in the lighting power industry is very fierce, not only the brand, but also the gap between quality and price. Igor is currently in the first echelon of LED lighting drive power industry, ODM and OEM models, both production capacity and quality have a competitive advantage. It is understood that the development direction of Igor LED lighting power supply products is to extend to the direction of intelligent control, which is also highly compatible with the development direction of smart home.
As a company providing power solutions, Igor became the first "going out" company in China more than 20 years ago. It has established subsidiaries in Germany, the United States, Japan and other places, and relies on the quality of special transformer technology. Advantages, becoming Japan's only overseas resident factory in Japan.
With the increase in Igor's overseas sales, the continued appreciation of the RMB against the US dollar has also had a certain negative impact on Igor's gross profit margin and net profit. It is understood that the company's operating income accounted for more than 50% of export sales, most of which are settled in US dollars, which is unfavorable for the growth of interest rates.
Xiao Juncheng said frankly that the export business has a long period of time compared with the domestic business. From the quotation to the signing of the contract, to the delivery of the order, and the final completion of the collection, the time span is large, and once the customer order is determined, it is generally impossible to use the exchange rate. Fluctuations adjust the price. If the renminbi is depreciating, it will have a favorable impact on product gross margin and exchange gains. If the renminbi appreciates, it will be adversely affected. Igor is also trying to use some methods or bank foreign exchange products to reduce the impact of exchange rate fluctuations on business performance.
Of course, in order to improve the positive growth of performance, Igor will continue to promote the construction of fundraising projects at the capital level to achieve the expected capacity targets and economic benefits. Among them, the second phase of Ji'an Igor project, the LED lighting power production project of the fundraising project, was completed in the first half of 2018 and started construction in 2018.
Why did the company choose to build a base in Ji'an, Xiao Juncheng explained that the transfer of industries to the interior is a major trend, the difficulty of employment in the Pearl River Delta region is increasingly prominent, and the liquidity is large, and the instability of personnel is unfavorable to the company's production efficiency and product quality. influences. Obviously, the stability of Ji’an Igor is higher than that of Foshan. In addition, the company is also increasing the proportion of automated production, gradually reducing the impact of production staff instability on production efficiency and product quality, and improving the productivity of unit labor.
On November 10 last year, Igor successfully landed in the capital market. Under the impetus of capital power, in addition to rail transit, clean energy, photovoltaic industry, wind power technology and other fields, Igor will increase the intelligent control of LED driver power. Product development and sales, maintaining industry advantages, continue to lead.
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