On the evening of March 29, Inventronics, a leading LED driver power company, announced its 2021 annual report. Under the unfavorable environment of repeated global epidemics and shortage of raw materials such as upstream chips, the company still achieved a significant increase in revenue and profit during the reporting period. In 2021, the company's revenue will rise to 1.416 billion yuan, a year-on-year increase of 34.48%, and the net profit attributable to the parent is 182 million yuan, a year-on-year increase of 12.56%. The company simultaneously announced the dividend distribution plan, and proposed to distribute a dividend of 0.79 yuan (tax included) for 10 shares to actively reward investors.
The significant increase in revenue is mainly due to the rise in volume and price of high-power LED drive power supplies. During the reporting period, driven by domestic policies such as new infrastructure construction and smart city construction, as well as the acceleration of infrastructure construction driven by the economic development of overseas emerging countries, the LED market grew rapidly, and the company's performance remained stable. According to reports, the sales volume of high-power products in 2021 will increase by 35.44% year-on-year, and the sales revenue will be 971 million yuan, a year-on-year increase of 44.90%.
Relying on the world's leading technical advantages, Inventronics LED driver has established a good reputation among downstream customers. The company's products have been successfully applied to a number of lighting projects in the 2022 Winter Olympics, including the "Ice Yuhuan" connecting the three major venues, the Snow Torch Platform, the National Stadium "Bird's Nest", the National Speed Skating Stadium "Ice Ribbon", and the Chongli Prince City Ice and Snow. Town, Yanqing Winter Olympic Village and Yanqing Mountain News Center, etc., provide guarantee for the lighting of the event. In overseas markets, the demand for infrastructure and urban renovation in South America, the Middle East, South Africa and other places has grown significantly, and large-scale tenders and street lighting projects have increased significantly.
Behind the reputation and technological advantages is the R&D accumulation brought by the company's years of independent innovation. During the reporting period, Inventronics joined the UL8800 (horticultural lighting equipment and systems) bid committee and became the first member of the bid committee for LED drivers in China, winning the right to speak in the North American market and the horticultural lighting market. At the beginning of 2022, the company became a full member of the DALI Alliance, a global intelligent lighting industry organization, and one of the members of the focus group in China. In the future, the company is qualified to deeply participate in the development of new industry standards and the promotion of DALI-2 and D4i, so as to promote the continuous progress of the global intelligent lighting industry. .
In terms of smart lighting, programmability and digitalization, during the reporting period, the company achieved mass production of 5 R&D projects, including the European outdoor street lamp power supply with NFC function, the high-power intelligent dimming LED driver for plant lighting, and the new generation of compact high-voltage input Small and medium-power intelligent programmable LED drivers, as well as research and development of LED drive power for harsh power grids; at the same time, 3 new development projects have been added, involving digital drive power based on NFC programming, compact ultra-high voltage drive power, and ultra-narrow high-efficiency Development of intelligent plant lighting power supply. Benefiting from the popularization of smart city construction, the smart lighting market is rapidly expanding with an average annual growth rate of 24.79%, and Inventech will continue to benefit as a leader in the field of LED drive power.
It is worth mentioning that in 2021, under the promotion of the "two new and one heavy" policy, smart light pole construction projects will be implemented nationwide one after another, driving the company's product volume. According to Inventech Interactive Easy Reply, the company provides LED digital power solutions based on T/CSA051 standards and DALI-2 & D4i standards, which provide power for lamps and a digital serial communication interface, with data acquisition function, which can be widely used For smart light poles, it has inherent advantages in the application of the Internet of Things, and has been applied in Shenzhen, Hangzhou, Nanchang and other places.
While the domestic business is growing, the company's global strategic layout has achieved initial results. In 2020, the construction of the company's factories in India and Mexico will be completed, and mass production will be realized in 2021, which will significantly improve the competitiveness of the international market. During the reporting period, the revenue of North America and Europe reached 313 million yuan and 137 million yuan respectively, a year-on-year increase of 56.73% and 29.59%.
The performance of plant lighting increased by 137%, and new energy and energy storage continued to be invested
The accelerated penetration of LED in the field of plant lighting has become the core point of the company's performance prospects. According to reports, during the reporting period, the company's plant lighting drive power revenue was about 317 million yuan, a year-on-year increase of 137%, accounting for 25.29% of the LED drive power revenue.
According to the annual report, Inventech has a first-mover advantage in the field of horticultural lighting, and is at the forefront of the world in systematic patents and product research and development. During the reporting period, the company launched high-performance products such as 320W, 680W, 880W and 1200W for the horticultural lighting and sports lighting markets, achieving better efficiency and ease of installation on the higher technical threshold of the ultra-high-power product line, which fully fits the needs of the industry. market demand.
In terms of the market, in recent years, extreme weather has changed frequently around the world, and the new crown epidemic has triggered a food crisis. Invento has entered the horticultural lighting industry as early as 2013, and the burst of downstream demand is continuing to promote the company's business expansion. According to TrendForce data, the global LED plant lighting market will reach US$1.68 billion in 2021, and will grow rapidly at a compound growth rate of 29.3% from 2020 to 2025.
The company's LED drive power supply has basically grown steadily, and the development of new energy and energy storage business is also remarkable. During the reporting period, the company comprehensively increased investment in research and development, production, quality control, supply chain and market promotion related to the new energy business, focusing on accelerating the technical research and development and commercialization of on-board chargers for high-speed vehicles. A number of OEMs have carried out testing and introduction; in the field of energy storage, the company has carried out technology accumulation and patent layout in the cascade utilization of retired batteries. As the penetration rate of new energy vehicles continues to increase and the use of clean energy becomes more widespread, the company's new energy and energy storage business is expected to build a second growth curve for the company's performance in the future. According to reports, the company's new energy-related product revenue in 2021 has reached 38.9163 million yuan.
