LED plant lighting power business detonates performance

According to the data of the LED Research Institute of Advanced Industry and Research (GGII), the output value of China's LED plant lighting lamps reached 1.7 billion yuan in 2018, a year-on-year increase of 31%. At the same time, according to the statistics of GGII, the global LED plant lighting market will exceed 3 billion U.S. dollars in 2020, and China’s LED plant lighting exports will exceed 500 million U.S. dollars, a year-on-year increase of more than four times.

Relying on the precise grasp of the development trend of industry segments, Songsheng actively deployed the research and development of LED plant lighting drive power products in 2018, and launched the VP series and other LED plant lighting drive power products in 2020. It directly ushered in a sales breakthrough in the field of plant lighting applications, and the revenue share of the sub-sectors also immediately increased to 12.30%. Moreover, driven by the vigorous development of the plant lighting application market, the company's industrial LED drive power products have achieved a rapid growth of 44.65% in 2020, which has greatly boosted the company's total revenue.

Not only that, based on the continuous explosion of the plant lighting market segment and the continuous release of the company's first-mover advantage. According to the prospectus, in the first quarter of 2021, the revenue of Songsheng's LED plant lighting drive power products has reached 112 million yuan, which has exceeded the full-year level of 2020. The proportion of operating income has also increased significantly from 12.30% in 2020 to 46.51%. , To achieve leapfrog growth.