Crystal electricity in the first quarter earnings per share fell below 0.3 yuan fear of low level

Taiwan LED two upstream epitaxial crystal power plant (2448) and canyuan (3061) due to the lower demand of mobile phone has not kept pace with its expansion plan, so that the first quarter of the capacity utilization rate of less than 70%, the overall gains were better than expected, the leading manufacturers of crystal electric for listed inventory valuation losses, evaluation of financial assets and foreign exchange losses the loss of nearly 100 million yuan (NT), plus the gross margin fell to recent lows near 20%, industry insiders predict the profit per share of only about 0.2 yuan (NT) to 0.3 yuan (NT); as for the canyuan (3061) also due to exchange loss and accrual depreciation loss of about 12 million yuan (NT) to 15 million yuan (NT), the industry estimates its first quarter earnings per share of about 0.2 yuan (NT), although compared with the same period last year appeared to profit, but the performance is still lower than the market expected.

EPISTAR said that first quarter earnings are still by the auditor, all the announcement at the same time, the decline in gross margin and industry more losses two factors, is the result of the first quarter profit and the main crystal as expected. It is understood that the first quarter of the first quarter may be closer to the 20% electricity price.

Although the upstream two first quarter growth rate of extension of factory revenue performance is pretty good, just because the actual market demand can not keep up with the rate of expansion, resulting in about six to 70% capacity utilization and crystal electric canyuan first quarter, plus the first quarter LED chip prices fell by an average of 10% to 15%, will make the overall profit below market expectations. The industry said that the current high order LED chip to mobile phone, and is still widely used for crystal electric revenues accounted for more than 50%, but due to the first quarter of the overall mobile phone demand is weak, the whole chip shipments to low order application, product sales caused by a bad combination of related companies.

In addition, some in the industry, although the exchange loss pressure than the upstream epitaxial plant downstream to light, but because the previous February appreciation rate is not small, the industry is expected the first quarter loss amount of crystal exchange is still 15 million yuan (NT), as canyuan also has 10 million yuan (NT). On the other hand, crystal electric due to the issue of 2 billion yuan last year (NT) Switching Company debt, the conversion price of up to 150 yuan (NT), the current stock price fell more than 42%, in line with the conditions of re adjustment of conversion price, conversion price was down to 120 yuan (NT), the first quarter should be crystal electric the right to choose the market loss of about 40 million yuan (NT) to 50 million yuan (NT).

Source: Lean news