R&D-driven optical, mechanical, and electrical integrated flat panel display test equipment with outstanding growth capabilities. Through the R&D and introduction, Precision Electronics has formed the current optical, mechanical and electrical integration flat panel display inspection equipment manufacturing capabilities, covering the main products of the module, panel automatic detection system, AOI optical detection system, OLED detection system, etc. The group inspection system is the company's most competitive product, and the company's AOI equipment is enjoying great development. OLED equipment is the future potential. The company insists on research and development drive. In 2016, R&D expenses accounted for 16.7% of sales revenue. The company's sales revenue increased from 33.28 million yuan in 2011 to 52.24 billion yuan in 2016, a compound growth rate of 73.56%, and net profit from 13.75 million yuan. The growth rate reached 98.68 million yuan, a compound growth rate of 48.31%, and the growth ability of the company driven by R&D was outstanding.
The LCD investment boom continues unabated, and OLED has unlimited potential. The global flat-panel display capacity shifts to China. Obviously, China will remain in the high-generation LCD investment boom led by BOE from 2016 to 2018. The total investment is 336.77 billion yuan and the equipment market space is 235.7 billion yuan. Due to its excellent properties, OLEDs have increased their penetration in flat panel displays. In 2016-2018, China's OLED investment was 211.8 billion yuan, and the equipment market was 148.3 billion yuan. The LCD investment boom continues unabated, and OLED assists the incremental market. 2016-2018 will be the best era for the flat panel display device industry.
From the Module to the Array and Cell segments, open up 20 times market space. Precision measurement electronics has absolute advantages in Module signal detection equipment. Downstream customers cover the major domestic flat panel display manufacturers. The company has realized the layout of Array and Cell segments by means of AOI equipment. At present, the Cell segment equipment has become competitive. The Array segment equipment has just entered and will be replaced by localization in the future. It is expected to open up 20 times of market space.
OLED investment wave assists the company with high performance flexibility. Due to the low yield rate of current OLEDs and favorable detection equipment, the company has corresponding technical reserves in three OLED processes, and has already begun to provide prototypes to some customers in the segment of Cell and Module. The company is seizing the OLED opportunity and deeply benefiting from OLED investment. Inspur, OLED equipment will help the company's future high performance elasticity.