On January 11, the author was informed that LED thermal management accessories supplier Lejian Technology Co., Ltd. has recently submitted a GEM listing application to the Hong Kong Stock Exchange. The exclusive sponsor is CCB International. Lejian Technology is principally engaged in the production and sale of LED thermal management substrates and LED modules for general lighting and specialty lighting applications. Among them, LED thermal management substrate is the company's core business and main source of revenue. In 2014 and 2015, its revenue accounted for 59.6% and 66.9% respectively. Non-LED substrates and LED modules contribute to the company's non-core business, contributing the remaining revenue. Lejian Technology sells its products globally. Among them, the Mainland China and Hong Kong markets contributed more than half of the revenue in 2015, with revenues accounting for 26.2% and 28.7% respectively. In addition, the company's revenue from North America, South America and Europe accounted for 20.2%, 10.6% and 9.9% respectively. According to the report issued by the consulting organization, in recent years, the global LED lighting market has grown rapidly, and its market size has increased from US$10.3 billion in 2011 to US$29.1 billion in 2015, with a compound annual growth rate of 29.8%. It is expected that the growth rate of the LED lighting market will slow down from 2016 to 2020, but will still maintain a compound annual growth rate of 24.5%. Despite the rapid growth of the industry, the performance of Lejian Technology is not smooth. In 2014 and 2015, the company's revenue was 507 million Hong Kong dollars (the same unit) and 426 million, down 19% year-on-year. The adjusted net profit after deducting non-recurring gains and losses such as listing expenses were 48.435 million and 25.83 million respectively. The annual drop was 46.7%. However, as of July 31, 2016, the company's performance improved, its revenue was 272 million, an increase of 16.2% over the same period of the previous year. The adjusted net profit was 10.976 million, while the same period last year was a loss. 792,000. The performance of Lejian Technology has stabilized and rebounded, mainly due to the company's focus on adjusting its LED thermal management solution with higher gross profit margin and greater market space. The company's LED thermal management substrate and LED module revenues gradually increased, and its overall gross profit margin level was also raised.
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