East Bay 2016 revenue of 1 billion 800 million, the first quarter revenue forecast is lower than last quarter

Taiwan LED packaging giant East photovoltaic last year, led by the backlight into the off-season and customer adjustment at the end of the year and other factors, single quarter revenue cooling. Consideration of possible exchange reversal in the industry suggests that profits are better than last quarter. There's a chance to keep a small profit situation all year round.

Looking forward to 2017, due to the impact of the lunar new year, revenue fell to 516 million yuan (NT $30.45%) in January this year, 17.85% less, or an annual decrease of 2%. Overall first quarter revenue is expected to be lower than last quarter.

However, the company will not aim at expanding revenues this year and will improve profitability. Is expected to launch this year Jiexin high diversity of products, including smart lighting lamps, emphasizing the low / no flicker effect blue backlight products and so on, in addition to the new customer orders in the second quarter is expected to be in place, lighting products shipments will gradually grow. As for a case on whether a increase in personnel costs and production costs, as well as CREE tort litigation results, all remains to be seen.

Bei Bei was originally a LED packaging manufacturer, mainly consumer products and backlight applications. In recent years, we have carried out the transformation and actively expanded the development of lighting products. Last year, the proportion of lighting lamps, wisdom lighting system lighting products such as total about 5-6, the proportion of nearly 4 into backlight (TV and mobile phone backlight each half), this year for new customers to join, backlight lighting product mix adjustment, plus the proportion and infrared and other niche products can multiply, estimate the backlight proportion will rise to 5 as above, lighting evaluation is reduced to 4, the proportion of niche products. 5%-10%.

At present, the East Bay lighting products to large channel customers in the United States mainly supply, sales to the Toshiba brand in Europe and Taiwan (Chinese in the fourth quarter of 2015 achieved Toshiba brand lighting products in Europe and Taiwan Chinese sales rights). Among them, the U.S. market share of about 7 into Europe, the proportion of about 2 Cheng, China, Taiwan, Southeast Asia and other Asian regions accounted for about 1.

Influenced by the factors of production, the new LED lighting market order, stabilize the traditional peak season, the East Bay following the second quarter revenue rose third last season, a small increase. But due to the weak backlight demand and year-end effect, the fourth quarter revenue cooling. In the first quarter, under the influence of the Lunar New Year and the off-season, revenue declined further.

East Bay in 2016 third quarter revenue of about 2 billion 166 million yuan, an increase of about 1.8%, an annual increase of about 34%. Single quarter gross margin of nearly 22%, a new high in recent years, operating profit of 113 million yuan, but also for the last 6 quarters of the new band high, but due to industry losses, making the net profit of only 7 million yuan after a single quarter, earnings per share of 0.02 yuan.

Before the three quarter total revenue of about 6 billion 166 million yuan, the annual increase of 1.18%, operating profit of 206 million yuan, the annual increase of 65%, but in 2015 the disposition of assets gains industry, 2016 is industry losses, so the first three quarters of net profit after tax of 41 million yuan, 0.13 yuan, the annual reduction of 78% EPS.

Fourth quarter of last year revenue of about 1 billion 910 million yuan, 12.8% quarter, 6.8% less. Initial tax small gain. Annual revenue of about 8 billion 70 million yuan (equivalent to about 1 billion 800 million yuan), an annual decrease of 0.19%. Revenue fell to $516 million in January, minus 17.85% in the month and 30.45% in the year.

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