Affected by the sluggish market conditions, weak demand, China's Taiwan region LED chip maker is expected in the fourth quarter, capacity utilization will continue to decline, gross margin will fall. Fourth quarter of the first quarter of the fourth quarter of electricity revenues will be reduced by 20% compared to the previous quarter, down to about NT $2 billion 200 million, a single quarter will also be a loss. However, due to industry estimates currently EPISTAR realisable value per share is still up to NT $27, plus LED NB and LED in the crystal electric field of TV backlight, still have a few breakthrough OEM patent restrictions advantage, as next year the economy back to temperature, LED backlight penetration will accelerate the growth of crystal electric the worst operating conditions 2-3 is expected to appear in the next season, the second half of next year is expected to rejuvenation operation.
At present, the main products of high brightness LED, including four yuan red LED, blue LED, green LED and so on. Among them, four yuan LED month production capacity of 1 billion 600 million, as the world's leading manufacturers, blue LED monthly production capacity of 13~14 billion, ranking the world's top three. Is expected in 2008 four yuan LED products accounted for the proportion of total revenue of about $35%, while the remaining 65% came from blue LED and green LED. The original crystal electric products mainly to mobile phone applications, but with the application of LED in the backlight panel of large size ratio increased, LED NB and LED TV backlight has not only become the main driving force of the future LED industry, has become the largest growth of crystal electric business one.
According to estimates, in 2009 the global NB shipments up to 154 million units, if the LED backlight penetration rate of 42%, each NB using the calculation of the LED, will create a high demand for the use of 2 billion 470 million high brightness LED. At present, LED backlight chip card in Japan there are still many patent manufacturers, including Toyoda Gosei, Nichia and so on, is currently in Taiwan EPISTAR has few through OEM mode entry of Japanese companies supply chain, LED NB and LED TV directly into the backlight market one of the manufacturers.
Despite the global downturn, coupled with the fourth quarter is the traditional off-season consumer electronic products, and the LED luminous efficiency along with the technical progress of continuous improvement, and less use of a number of LED manufacturers and production capacity to an increasingly heavy pressure, the crystal electric current market view is quite conservative, estimated in the fourth quarter in rate reduced capacity utilization, not only will be compared with the previous quarter revenue continued to decline, gross margin will fall. The industry is expected in the fourth quarter of electricity revenue will be reduced by about 20% over the previous quarter, down to NT $2 billion 200 million, a single quarter will also be a loss.
However, due to the LED backlight penetration is a new kind of downstream manufacturers with the launch, accelerate growth, and China, outdoor advertising market demand, in the Olympic Games ended, and the Shanghai Expo will drive a new wave of demand for business opportunities. Generally speaking, with the boom in the second quarter of next year is expected to fall at the end of crystal electric follow-up operation is also expected to lead in the LED backlight and the outdoor advertising market and application of heating two trend, making the operation in the next 2-3 quarters at the end of next year, and in the first half of rejuvenation.
From the point of view of the value of the investment, with the price of electricity shares turns broken, but the operation is expected to fall in the last quarter of 2-3, recently began to have the industry's views on the price of electricity to turn positive. The main reason is the crystal power until the third quarter of this year the end of equity to NT $6 billion 331 million estimate, EPISTAR net value per share is 35.7 yuan NT, including cash, cash equivalents, accounts receivable and bond funds mainly short-term investment realizable higher value per share is NT $12, while on the crystal the lowest price has come to power 25 yuan nt. Back up in the industry to buy up or push up, crystal power recently launched a strong rebound in stock prices.
Source: Lean news
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