A small drop in revenue in June, looking at the market demand for small space screens

In the second quarter revenue expected to grow in double-digit growth in the year of June, the profit of the company is expected to increase in double digit year, only in June, because of the adjustment of the customer's stock level and lower than the May revenue, and the gross interest rate is expected to maintain the first season's water level, and profit is expected to be better than the same period last year. For the whole year, the legal person believes that the second quarter base period is higher, the third quarter first sees the second quarter water level, the annual revenue can be more than last year's double-digit growth space, only the second half of the gross interest rate is still one of the key points of continuous observation, profit can be better than last year.

The product is IC design company, the product is mainly LED drive IC, the application end is mainly display screen, other applications include architectural lighting, TV backlighting and general lighting. According to the proportion of each product line in the first quarter, the standard type 25~30%, the niche type (multi-channel and the high order integration) 65~70%. The aggregate number of small space LED displays in the world is ranked first in the IC market, accounting for about 60%.

Accumulation has the position and technical advantage of small space market, on the current niche type IC shipments, it is still the 16 channel 5153. This year, the international big factory is gradually transferred to the car, so that the 48 channel LED drive IC needs to the station, the accumulation is also expected to be benefited, the 48 channel products include 5353, 5359 two, the company's annual target shipments The annual increase of 3~5%.

In the face of this year's market, the continuous bullish small spacing display driver IC market demand, due to the wide range of applications, driven by the high quality display demand led by the display screen, such as concerts, conferences, cinemas, will lead to the gradual expansion of the high level integrated IC shipments.

The outside world also continues to pay attention, accumulating in Mini LED, Micro LED product progress, the accumulation indicates that at the end of this year Mini LED will be shipped to the mainland mobile phone manufacturers, but the actual volume of cargo and contribution still need to continue to observe. Micro LED, the accumulation of product technology has been in place, but still need to observe the attitude of other supply chain, the fastest market attitude will be more clear in the second half of next year.

In the client side, the growth of overseas customers is strong, and the demand of Korean and American customers is particularly strong. Since the Korean customers begin to cooperate in the beginning of this year, the new customers' cinema and the original panel have driven the demand. The estimated absolute amount of overseas customers will increase by 4 in the first half of this year. At the end of the year, the kinetic energy will continue in the second half.

In the vehicle, the LED lamp market is entered in the front of the accumulation lock, and the accumulation indicates that due to the long and complex certification period of the vehicle specifications, the products are now being sent to the terminal customers through certification, but the actual contribution needs to be fermented next year.

In the first quarter, the first quarter of the product, which was drawn up by the price adjustment strategy, was 684 million yuan (NT, the same). Compared with 610 million yuan in the same period last year, it increased by 12.16%, the gross interest rate was 34.2%, and the EPS was 1.29 yuan, which was better than last year's 0.81 yuan.

In the past, the standard IC was under the high price pressure of the mainland competitors, and the past gross margin water level was maintained in the 20~30% range. However, the first quarter of this year was up to 34.2% in the first quarter of this year, for the last 2 years.

Looking forward to the second quarter, the legal person is expected to continue the first quarter growth force, revenue is expected to increase double digit growth, only in June because of customer inventory level adjustment and May revenue less, and the gross interest rate is expected to maintain the first quarter of the water level, profit is expected to be better than the same period last year.

Looking forward to the whole year, legal person thinks, because the second quarter base period is high, the third quarter first sees steady second quarter water level, and accumulates in the small spacing LED drive IC's continuous layout, the technical advantage led, the annual revenue can have the double digit growth space compared with last year, only the second half gross interest rate is still one of the key points of continuous observation, the profit can be better than last year .

Source: Money DJ

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