Continue to adjust orders / product mix, East Bay Q1 bulb shipments decline

Taiwan's LED packaging company, the company's original photoelectric company, is expected in the second quarter in the new orders and lighting backlight into the peak season pushed up, the performance is expected to return to temperature. However, due to sharp adjustment in operations, April revenue is not up or down, the actual performance of the second quarter, but also to observe.

East Bay first quarter revenues of 1 billion 578 million yuan (NT, the same below), quarter by 7.9%, the annual reduction of 21%, gross margin rose to 20.95%, quarter by 7 percentage points, similar to the same period last year, operating losses of 35 million yuan, net loss of 164 million yuan, 0.44 yuan per share loss. The main reason is the first quarter orders continued to adjust the strategy and product portfolio, bulb size of shipments is greatly reduced, and the traditional off-season revenue less, and foreign exchange losses, resulting in the continued loss of business and tax.

Following the March recovery in revenue, revenue fell to 406 million yuan in April, a decrease of 26.6%, an annual decrease of 38.9%, the cumulative first 4 months of revenue reached 1 billion 985 million yuan, an annual decrease of 21%.

The East Bay in recent seasons to actively adjust the product business in lighting products, once to bulb for the main commodities, but due to intense competition, the market continued to decline after lighting products, lighting products, the proportion has reached 8, including flat-panel lamp, lamp, intelligent lighting system plant, lighting product shipments a sharp decline. The past bulb single monthly shipments had reached 10 million, has now dropped to 200-300 million level.

Backlight products this year, after the new customers to join, shipments are expected to have a chance to grow by more than 3 over last year. Among them, the notebook computer main customers include Dell, HP backlight, TV will be the international brand.

East Bay 2016 revenue of about 8 billion 77 million yuan, an annual decrease of 0.19%. Among them, the first three quarters of the cumulative net profit after tax of 41 million yuan, 0.13 yuan EPS, originally expected in the fourth quarter should be flat loss or small profit, but because the company for the assets impairment evaluation of listed reserve of about 500 million yuan, resulting in tax loss of 460 million yuan per share, after tax losses amounted to 1.41 yuan.

East Bay for Taiwan, LED packaging manufacturers, consumer products and backlight applications based. Due to industry changes, recent years of transformation. Once the positive development of lighting products, and vigorously expand the lighting business, but in the fierce competition, the price slump, the second half of 2016 again in transition, one hand to adjust the product mix, improve lighting lighting, reduce the proportion of bulb scale, on the other hand, for the high order backlight better profit order.

At present, the East Bay lighting products in the United States still supply large pathway for customers to Toshiba brands in Europe and Taiwan (Chinese in the fourth quarter of 2015 achieved Toshiba brand lighting products in Europe and Taiwan Chinese sales rights).

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