Affected by subsidiaries, Shilan Micro's performance continued to decline

After the net profit fell sharply by more than 75% last year, Silan Micro (600460)'s performance in the first quarter of this year was not satisfactory. Recently, the company's first-quarter results forecast shows that the first quarter net profit is expected to decline by more than 80%. The continuous decline of the company's performance, or related to the subsidiary Hangzhou Shilan Mingxin Technology Co., Ltd. (hereinafter referred to as "Slan Mingxin") dragged down.

According to the announcement, Silan Micro expects net profit in the first quarter of this year to decrease by more than 80% year-on-year. In the first quarter of 2015, Silan Micro achieved net profit of approximately 29.42 million yuan. For the reasons for the pre-reduction of the first quarter results, Silan Micro said that there are two main aspects. First, because the company's subsidiary Shilan Mingxin is affected by the small scale of output and large fixed cost allocation, there is still a certain degree of operating loss, and the other is because the company's shareholding company Hangzhou Youwang Electronics Co., Ltd. last year. During the same period, large-scale investment income was obtained from the sale of available-for-sale financial assets, but no investment income was obtained in the current period.

It is worth noting that Silan's performance in 2015 also performed poorly. According to the company's annual report, in 2015, Silan Micro experienced a decline in revenue but a sharp decline in net profit. Last year, the company's operating income reached about 1.926 billion yuan, a year-on-year increase of 3.02%, but the company's net profit fell sharply by 75.74% year-on-year, from about 164 million yuan in 2014 to about 39.776 million yuan. The net profit of Silan's micro-deduction was a loss. Last year, the company's net profit after deduction was a loss of 27,561,000 yuan, down 129.26% year-on-year. The company once said in the annual report that the increased competition in the LED chip industry and the large loss of the subsidiary Silan Mingxin during the reporting period were the main reasons for the sharp decline in the company's net profit.

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