Crystalline electricity / light treasure / accumulation announced Q2 and first half financial report

Yesterday (13), Taiwan LED plant, Jing Dian and Guang Bao branch announced the second quarter and first half of the year. Among them, crystalline electricity Q2, the first half of the combined revenue declined year-on-year. While the Q2 revenue of the company has increased by two times compared to the same period last year, and the overall revenue and profits in the first half of the year have been stable. In addition, accumulated second quarter results also reported good news, and hit a single season high.

Crystalline electricity is affected by backlighting and slow lighting demand. The second quarter is the bottom of operation this year, with a profit rate of nearly 8 quarters low, only 1%. Net profit after tax is 122 million yuan (NT $, the same below), quarterly reduction of 69.49%, annual reduction of 83.32%, net profit of 0.11 yuan per share after tax, a new low of nearly 5 quarter. Net profit after tax is 0.48 yuan.

The second quarter combined revenue of 5 billion 295 million yuan, increased by 2.86% in the quarter, decreased by 20.36% in the year, 17.77% in gross profit margin, 0.55 percentage points in Ji Zeng, 3.12 percentage point reduction in year, 1% in profit rate, 1.47 percentage point decrease in the quarter, and 8.35 percentage points a year: after tax net profit 122 million yuan, quarterly reduction 122 million, annual reduction of earnings per share, net profit per share after tax.

Consolidated revenue in the first half of this year was 10 billion 443 million yuan, an annual decrease of 15.62%, gross margin 17.5%, an annual reduction of 2.85 percentage points, a profit rate of 1.72%, an annual reduction of 6.67 percentage points, a net profit of 522 million yuan after tax, an annual reduction of 15.95%, and a net profit of 0.48 yuan per share after tax.

Generally speaking, the second quarter is the traditional peak season for the LED industry. This year, crystal power is obviously "busy season". The demand for backlighting and lighting is slowing down. Zhou Mingjun, general manager of crystal electric, pointed out earlier that the overall demand was relatively strong last year, coupled with many sports events this year. Many inventories are available to meet demand this year, but demand is not as strong as expected.

Looking forward to the third quarter, crystal electric indicated that the demand for plant lighting and infrared lighting is better. The demand for four yuan LED is more intense than that in the second quarter, maintaining the peak season condition, full capacity and continuous increase of the capacity. The blue light part of the third quarter coincides with the peak season of mobile phone backlighting, and the demand for mobile backlighting is back. Apparent backlight demand kinetic energy.

Mini LED application section, crystalline Electric has now been exposed to end users including mobile phones, electronic competition, tablet, vehicle and TV applications. It is reported that the application of competitive applications has been found, and is expected to come out in the fourth quarter, and the demand kinetic energy can be expected. As for mobile phone application part, crystal electric said that the solution put forward at present is affirmed by customers, but the shipping time still depends on customer's product and market planning. VCSEL foundry business has previously said that the fourth quarter has the opportunity to ship a small quantity to 6 inch OEM customers, contributing revenue. Next year, there will be a large number of orders.

The company benefited from LED components and automotive products, cloud computing, AI smart home appliances and game machines, and other related products and markets. The second quarter after tax was 1 billion 760 million yuan, net profit per share (EPS) 0.76 yuan, and quarter increased 69%; and in the third quarter of the outlook, the company said that LED components and outdoor lighting applications and cloud computing were good. AI, smart home appliances and consumer electronics and other related application needs will grow steadily.

Guang Bao Ke pointed out that LED products benefited from the steady growth of related products and markets such as automotive lighting, cloud computing, AI smart home appliances and game machines. The global consolidated revenue in the second quarter of this year was 54 billion 710 million yuan, a 13% increase in the quarter, an annual increase of 3%, a net profit of 1 billion 760 million yuan after tax, a net profit of EPS per share (0.76 yuan), and a quarterly increase of 69%. Benefiting from the optimization of product mix and operational efficiency, the gross profit margin of the second quarter sales was 11.9%, the gross profit margin increased by 21%, the net operating interest rate was 2.8%, and the net operating profit increased by 92% over the previous quarter.

Guang Bao Ke also said that in the first half of the year, the overall revenue and profits remained stable, and the total revenue in the first half of this year amounted to 103 billion 200 million yuan. Due to the continuous rise of global raw material prices and sales costs, plus the impact of exchange rate fluctuations, gross margins and operating net interest rates of sales were 11.5% and 2.2%, respectively, and the operating profit was 2 billion 300 million yuan; net profit before tax and net profit after tax. They were 3 billion 800 million yuan and 2 billion 800 million yuan respectively, and the net profit per share was 1.2 yuan in the first half of the year.

Guang Bao branch also pointed out that in the second quarter, the revenue of the photoelectric sector accounted for 30%, and the demand for the LED market continued to grow and the market share of LED components increased. Thanks to the smooth delivery of LED vehicle lighting, the expansion of the LED street lamp in the Middle East market and the delivery of the high level camera module, Ji Zengyu 30%. Block business has completed its business transfer at the end of the second quarter.

Guang Bao Ke also said that in the second quarter, the revenue of information products department accounted for 51%, of which cloud computing high level servers, Netcom equipment power management system, server chassis and AI smart home appliances, power generation products continued to grow, and the market share of computer peripheral products such as keyboard and mouse was promoted. At the same time, the storage device accounted for 14% of the total revenue this quarter.

Looking forward to the third quarter, the company has expressed steady growth in LED components and outdoor lighting applications, cloud computing, AI smart home appliances and consumer electronics and other related applications, and the core business performance has continued to improve.

Accumulating second quarter revenue 841 million yuan, quarter increased 22.94%, an annual increase of 27.5%, and hit a new single season high, gross margin of 35.3%, mainly due to the shipment of niche products, foreign customers and new applications in the overseas market increased, while outside the industry was depreciated by the renminbi and some of the foreign exchange losses, EPS 2.75 yuan, a lot more than the last quarter EPS1.29 yuan.

On the basis of the current niche products, the accumulation believes that the mainland supply chain is still dominated by 16 channels, and it seems that there is not much willingness to develop into the 48 channel. This year, we have launched 48 channel products, which has attracted much attention in the market, and also let the mobile phone factory take note of the products accumulated. Therefore, we have recently sent samples to customers in the backlight of Mini LED mobile phones. The fourth quarter is expected to complete client authentication, and shipment will begin in the first quarter next year.

In addition, the Mini LED module will also be shipped in the fourth quarter, which will be used for display. The company said that accumulating the purchase of naked crystals, matching the company's drive IC, directly on the PCB board, for customers, can reduce their own procurement and assembly, and also provide better solutions to customers, and ASP is higher, for accumulation, revenue accounts for The ratio is increasing, and next year's forecast will account for 10% of revenue.

Micro LED, the accumulation indicates that the company's product technology has been in place, but we still need to observe the attitude of other supply chain, and the market attitude will be clearer in the second half of next year.

Accumulating the status and technical advantages of small spacing market, the company continuously optimistic about small spacing display drive IC market demand, coupled with continuous optimization of products, the shipment of high-order products has continued to increase. In the first half of the year, the standard IC has been squeezed by the price of Chinese competitors, and the trend of compressed gross margin has been squeezed. Accumulating that the gross profit margin in the second half of this year can also be maintained in the first half of the year.

Looking forward to the second half of the year, the legal person thinks that under the adjustment of the production strategy of mainland customers, revenue will first look conservative, but gross margin can be stabilized at around 34%. For the whole year, the first half of the year is driven by the small spacing display, driven by IC demand, plus the improvement of product mix, the annual profit can still be better than last year's performance.

For more LED related information, please click LED net or pay attention to WeChat public account (cnledw2013).