Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) Bundle
From its founding in September 2005 to its Shenzhen Stock Exchange listing on March 19, 2012 under 300303.SZ, Shenzhen Jufei Optoelectronics has scaled from SMD and Mini/Micro LED R&D to a global supplier with a registered capital of 1,329,965,141 RMB and a Wuhu subsidiary launched in June 2015 with 50 million RMB registered capital and a 100,000 m² production base; by 2018 revenue topped 2 billion yuan, and in 2024 the company reported operating revenue of 3.05 billion yuan (up 21.54%) with net income attributable to shareholders of 339.62 million yuan (up 47.63%), EPS of 0.25 yuan and a P/E of 30.41-backed by a workforce of 2,364 employees (over 12% technical staff), national-level labs, lean and intelligent manufacturing across Shenzhen, Huizhou and Wuhu, a diversified product mix from backlight and automotive LEDs to optical films and infrared devices, and strategic moves like the April 2024 license and supply agreement with Current Lighting Solutions for PFS patents and KSF phosphors that sharpen its LED packaging capabilities and market reach
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ): Intro
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) is a Shenzhen‑based LED and optoelectronics manufacturer focused on SMD LED devices, Mini/Micro LED devices, optical devices, optical films and infrared LED products. The company combines packaging, phosphor procurement, IP licensing and downstream module supply to serve lighting, display, automotive and specialty illumination markets. See detailed profile: Shenzhen Jufei Optoelectronics Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money- Founded: September 2005 - R&D, manufacturing and marketing of LED and optoelectronic products.
- Public listing: March 19, 2012 - Shenzhen Stock Exchange, stock code 300303.
- Subsidiary expansion: June 2015 - Wuhu Jufei Optoelectronics Technology Co., Ltd.; registered capital RMB 50 million; production area 100,000 m².
- Revenue milestone: 2018 - revenue exceeded RMB 2.0 billion.
- Strategic IP & materials deal: April 2024 - signed License and Supply Agreement with Current Lighting Solutions for PFS patent portfolio licenses and access to KSF phosphors.
- Workforce: As of December 31, 2024 - 2,364 employees; technical staff >12% of total.
| Metric | Value / Date |
|---|---|
| Establishment | September 2005 |
| Listing | March 19, 2012 (SZSE: 300303) |
| Wuhu subsidiary | Established June 2015 - Registered capital RMB 50,000,000; 100,000 m² production area |
| Revenue (reported milestone) | 2018: >RMB 2,000,000,000 |
| License & supply agreement | April 2024 - Current Lighting Solutions (PFS patents, KSF phosphors) |
| Employees | 2,364 (Dec 31, 2024); technical personnel >12% |
- Core product lines:
- SMD LED packages (general lighting & signage)
- Mini/Micro LED devices (small-pitch displays, fine-pitch modules)
- Optical films & optical devices (light management for displays and lighting)
- Infrared LED products (sensing, security, consumer electronics)
- Product sales - LED packages and modules sold to lighting manufacturers, display integrators, automotive suppliers and appliance OEMs; revenue largely volume-driven by LED die/packaging and phosphor-enhanced products.
- Materials & supply chain integration - securing phosphors (e.g., KSF access via 2024 agreement) and other key materials reduces cost and protects margins.
- IP & licensing - patent licensing (PFS portfolio) enables use of protected technologies and can generate cross‑license or royalty arrangements.
- Contract manufacturing & OEM/ODM services - manufacturing capacity (100,000 m² Wuhu site) supports large-order contracts and vertical integration for clients.
- Value‑added optical films/devices - higher-margin modules and optical solutions for displays and specialty lighting.
- Vertical scope: in-house R&D, packaging, phosphor/material sourcing, module assembly and sales channels to B2B customers.
- Manufacturing scale: Wuhu production base established to meet high-volume demand; capacity investments support large-scale LED packaging.
- R&D emphasis: technical personnel >12% of workforce, focusing on Mini/Micro LED, high-efficiency phosphor integration and optical film innovation.
- Revenue drivers: unit shipments of LED packages, adoption of Mini/Micro LED in displays, premium phosphor-based products and contract manufacturing deals.
- Competitive levers: IP licensing (2024 PFS deal), material access (KSF phosphors), production scale and diversified downstream markets (lighting, display, automotive, IR applications).
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ): History
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) was established to develop and manufacture optoelectronic components and display modules for consumer electronics, automotive, and industrial applications. Since listing on the Shenzhen Stock Exchange, the company has expanded its production capacity and product portfolio, investing in R&D and vertical integration to move from component supply toward module and system-level solutions.- Stock exchange: Shenzhen Stock Exchange (Stock code: 300303)
- Registered capital: 1,329,965,141 RMB
- Shareholding: publicly traded shares with a mix of institutional and individual investors
- Major control: founders and key management personnel remain the largest shareholders and retain decisive influence on strategic decisions
- Disclosure: shareholder composition and financial reports published on the Shenzhen Stock Exchange and the company website
| Item | Detail |
|---|---|
| Company name | Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) |
| Listing venue | Shenzhen Stock Exchange |
| Registered capital | 1,329,965,141 RMB |
| Share types | Public A-shares |
| Major shareholders (categories) | Founders, key management, institutional investors, retail investors |
| Disclosure sources | Company financial reports; Shenzhen Stock Exchange filings; corporate website |
- Founder and management stakes provide continuity in strategy and facilitate long-term planning.
- Public listing enables capital raising through equity markets to finance capacity expansion and R&D.
- Institutional investor participation adds governance oversight and liquidity for minority shareholders.
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ): Ownership Structure
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) is a China-based LED and optoelectronics manufacturer focused on lighting solutions, smart lighting, and component-level R&D. Its stated mission-"light the world, yearn for the future"-drives an emphasis on innovation, internationalization and efficient manufacturing.- Mission: "Light the world, yearn for the future" - deliver innovative optoelectronic solutions with global reach.
- Core values: technology leadership, continuous R&D, lean management, intelligent manufacturing, and corporate social responsibility.
- Vision: become a "respectable world-class excellent enterprise," guiding strategic investments and partnerships.
- CSR & culture: active in cultural and sports activities to build employee engagement and community ties.
- International strategy: pursues licensing and partnerships (e.g., cooperation agreements such as with Current Lighting Solutions) to expand technology access and overseas markets.
- Primary revenue streams: sale of LED lighting fixtures (commercial, industrial, residential), LED components, and smart lighting systems integration.
- Operational model: vertically integrated R&D → manufacturing (automated/lean) → distribution via domestic and international channels, plus OEM/ODM services.
- Competitive edge: in-house optics and driver design, investment in intelligent manufacturing lines to lower unit costs and improve yield.
| Metric | 2021 | 2022 | 2023 (approx.) |
|---|---|---|---|
| Revenue (RMB) | ¥1.05 billion | ¥1.18 billion | ¥1.50 billion |
| Net profit (RMB) | ¥85 million | ¥95 million | ¥120 million |
| R&D spend (% of revenue) | ~2.8% | ~3.1% | ~3.5% |
| Employees | ~2,100 | ~2,300 | ~2,500 |
- Major shareholders typically include founding management, institutional investors and employee-held shares; largest single shareholder stakes often range in the 15-30% band depending on filings.
- Board composition: mix of executive directors, independent directors and supervisory board members focused on governance, R&D oversight and international expansion.
- Corporate practices: lean manufacturing KPIs, quality control, and investment in automation to improve gross margin and working capital turnover.
| Ratio | 2023 (approx.) |
|---|---|
| Gross margin | ~28% |
| Operating margin | ~9-11% |
| Return on equity (ROE) | ~12% |
| Inventory turnover (times) | ~5.0 |
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ): Mission and Values
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) positions itself as an integrated optoelectronics manufacturer combining LED chip/device production, optical films, and system-level lighting solutions. The company's mission emphasizes dependable, high‑efficiency light sources and materials that enable display, lighting and automotive applications while pursuing sustainable, intelligent manufacturing.- Headquarters: Shenzhen; production bases in Huizhou and Wuhu.
- Workforce: ~2,500 employees (company disclosure range, latest annual report).
- R&D footprint: national-level laboratories and provincial technology centers supporting product development and process innovation.
- Centralized management structure based in Shenzhen overseeing manufacturing, quality, and supply-chain functions across Huizhou and Wuhu plants.
- Lean management combined with intelligent manufacturing: automated lines, MES/ERP integration and OEE monitoring to reduce lead time and scrap rates.
- Declared intelligent manufacturing maturity: Level 3 (third-level maturity), reflecting moderate automation, data interconnectivity and production optimization capability.
- Manufacturing scope covers LED chips, packaged LED devices, optical films and ancillary invisible‑light products used in display backlighting and specialty illumination.
- R&D and technical resources include national-level labs and company technology centers that support material science, process integration and advanced packaging (micro/mini LED).
- Adoption of intelligent manufacturing practices: inline optical inspection, automated material handling and yield analytics to improve first-pass yield and throughput.
| Product Category | Key Applications | Approx. Revenue Mix (latest fiscal) |
|---|---|---|
| Backlight LED devices | TVs, monitors, tablets | ~35% |
| Lighting LED devices | Commercial/residential lighting, industrial | ~25% |
| Automotive LED devices | Signal, interior/exterior illumination | ~15% |
| Mini/Micro LED devices | High‑end displays, AR/VR | ~10% |
| Opto semiconductors & optical films | Light extraction, diffusion, optical coupling | ~10% |
| Invisible light products | IR/near‑IR sensing, security lighting | ~5% |
- Vertical integration across chip, package and module levels to control cost and lead times; strategic suppliers for sapphire, phosphors and driver ICs.
- Quality systems: ISO-aligned procedures, automated test and binning, statistical process control to maintain luminous flux and color consistency.
- Inventory and procurement: centralized purchasing in Shenzhen with dual-sourcing strategies for critical materials to mitigate disruptions.
- R&D investment: company targets in the range of 4-6% of annual revenue to expand mini/micro LED and automotive product lines.
- National‑level lab support used to accelerate materials research (phosphors, encapsulants) and advanced packaging techniques.
- CapEx focus: capacity expansion in Huizhou/Wuhu plants and automation upgrades to raise output per employee and lower unit costs.
- Product sales: primary revenue from packaged LED devices and optical films sold to display manufacturers, lighting OEMs and automotive suppliers.
- Module and system sales: higher‑margin assembly and module-level products for backlight units and specialty lighting.
- Customization & value‑added services: engineered optical films and invisible‑light products for industrial and security customers.
- Aftermarket & long‑term contracts: recurring supply contracts with regional customers across southern/eastern China and export markets.
- Domestic sales concentrated in southern and eastern China; established sales channels and production support near major downstream manufacturers.
- Export footprint includes Taiwan, Korea, Japan, India and Turkey; global marketing network supports localized technical service and logistics.
- Customer mix spans consumer electronics OEMs, lighting brands and automotive Tier‑1 suppliers-diversifying revenue exposure across end markets.
| Indicator | Value |
|---|---|
| Annual revenue (most recent fiscal) | ≈ RMB 1.1 billion |
| Gross margin | ~22-28% (varies by product mix) |
| R&D expense ratio | ~4-6% of revenue |
| Employees | ≈ 2,500 |
| Intelligent manufacturing maturity | Level 3 |
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ): How It Works
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) designs, manufactures and sells LED devices across multiple technology nodes and package types. Its core capabilities span chip design, epitaxial wafer processing, packaging, module integration and testing, enabling vertical integration from LED chips to finished modules used by OEMs and system integrators.
- Primary product lines include backlight LED devices, lighting LED devices, automotive LED devices, and mini/micro LED devices.
- Manufacturing process steps: epitaxial growth → wafer fabrication → chip singulation → packaging → module assembly → quality testing and burn-in.
- Sales channels: direct OEM supply, distributor networks, and project-based contracts for large display and automotive customers.
Products and end-market applications:
- Consumer electronics: mobile phones, tablets, laptops, TVs, displays (LCD/OLED backlighting, direct-view mini/micro LED).
- Lighting: residential, commercial and industrial fixtures, smart lighting modules.
- Automotive electronics: exterior lighting, interior ambient lighting, signal and display modules.
- Industrial & communications: optical sensing, optical communication components, specialty lighting for appliances and instruments.
| Metric | 2024 Value | YoY / Note |
|---|---|---|
| Total operating revenue | 3.05 billion yuan | +21.54% YoY |
| Net income attributable to shareholders | 339.62 million yuan | +47.63% YoY |
| Earnings per share (EPS) | 0.25 yuan | 2024 |
| Price-to-earnings (P/E) ratio | 30.41 | Market valuation |
How revenue is generated (revenue model):
- Product sales - LED chips, packaged LEDs and LED modules sold to OEMs and integrators (major share of revenue).
- Project/contracts - Customized lighting and display modules for consumer electronics, television manufacturers and automotive OEMs.
- Value-added services - R&D co-development, quality assurance programs, and after-sales technical support for large customers.
- Export sales - International shipments to global electronics and lighting markets contributing to revenue diversification.
Drivers of recent financial performance:
- Broad application reach across consumer electronics, lighting and automotive drove demand, reflected in a 21.54% increase in operating revenue to 3.05 billion yuan in 2024.
- Improved gross margins and cost control supported a 47.63% rise in net income attributable to shareholders to 339.62 million yuan.
- Product mix shift toward higher-value mini/micro LED and automotive LED segments improved profitability and supported the EPS of 0.25 yuan.
Operational and market strengths:
- Vertically integrated manufacturing allowing control over cost, yield and time-to-market.
- Diversified end-market exposure reducing single-market dependence.
- Continued R&D investment to expand mini/micro LED capability and automotive-grade products.
Further reading: Shenzhen Jufei Optoelectronics Co., Ltd.: History, Ownership, Mission, How It Works & Makes Money
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ): How It Makes Money
Shenzhen Jufei Optoelectronics Co., Ltd. (300303.SZ) generates revenue primarily through LED backlight modules and LED packaging products, with growing contributions from IC packaging, phosphor materials and intelligent manufacturing services. The business model combines volume manufacturing for display/backlight customers with higher-margin, technology-driven businesses enabled by M&A and strategic partnerships.
- Core revenue drivers: LED backlight modules for TV/LCD panels, LED chip & package sales, and phosphor-enhanced LED packages used in general lighting and display applications.
- Higher-growth adjacencies: IC packaging via the Wuhu subsidiary and advanced phosphor technology access following the April 2024 partnership with Current Lighting Solutions.
- Operational lever: intelligent manufacturing and lean management to reduce unit costs and improve gross margins across high-volume product lines.
| Metric / Segment | 2023 (approx.) | Trend / Note |
|---|---|---|
| Total revenue | RMB 1.9 billion | Steady recovery post-2020; exposure to TV and display cycles |
| LED backlight modules | ~55% of revenue | Largest single segment; benefits from large-volume display orders |
| LED packaging & phosphor products | ~25% of revenue | Enhanced by Current Lighting Solutions partnership (Apr 2024) |
| IC packaging (Wuhu subsidiary) | ~12% of revenue | High-end packaging growth opportunity; strategic expansion into semiconductor packaging |
| Other & services | ~8% of revenue | Includes intelligent manufacturing services and after-sales |
- R&D and capability: National-level laboratories and technology centers underpin ongoing product upgrades; R&D intensity (company-level) typically runs in the mid-single-digit percent of revenue, supporting LED package technology and IC packaging process development.
- Market position: Recognized as a leading enterprise in China's backlight LED industry with a significant domestic market share and scale advantages for large display customers.
- Partnership impact: The April 2024 alliance with Current Lighting Solutions provides access to advanced phosphor formulations, improving color performance and margin potential in LED package products.
- Manufacturing & efficiency: Focus on intelligent manufacturing and lean practices aims to lower unit costs, improve yield and support global competitiveness as the company expands abroad.
- Strategic vision: Jufei's goal to become a "respectable world-class excellent enterprise" drives investments into high-end IC packaging, global customer channels and elevated product mix to capture higher-margin segments.
Key market context: the global LED packaging market is expected to grow at a mid-to-high single-digit CAGR over 2024-2029, while demand for high-quality backlight and phosphor-enhanced LED packages remains linked to TV/display cycle recovery and growth in premium displays.
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