Four yuan LED is still supported, crystal electric Q4 fight to maintain small profits

Taiwan LED crystal electric chip manufacturers this year following the third quarter gross margin, industry profit improvement, positive turnaround, expected in the fourth quarter although the backlight entered the off-season, but for four yuan LED shipments momentum is still and the machine and the product structure continued to adjust the estimated single quarter revenue volatility is limited, and the opportunity to keep a small profit.

Outlook 2017, with the introduction of a number of new products into mass production and new project development, is expected in 2017, the gross profit margin and profit margins may be further improved. The main new kinetic energy, including infrared (sensing Sensor), ultraviolet (iris recognition), high brightness / high color saturation Flip Chip and CSP, as well as various applications, such as television, mobile phones, lighting and other high-end products.

Crystal is LED epitaxial / chip manufacturers, products used in panel backlight, lighting, LED billboards, automotive lighting and other niche markets. After several merger and adjustment, the factory is located in Taiwan, Hsinchu, Miaoli, Tainan, as well as mainland China, Changzhou, Shenzhen and other regions. The main products include TV backlight, lighting, consumer electronics, monitors, pen / monitor backlight, etc.. By LED and display the change of industrial structure, and actively expand the recent four yuan / red LED, infrared and ultraviolet, Flip Chip and CSP chip package without product lines, and strengthen the application of new markets, toward the backlight illumination light.

Although since the second quarter of 2015 to the second quarter of 2016 consecutive quarter losses, however, with the expansion of LED, slowing interbank market order stabilized, and the company itself to optimize the product structure, capacity allocation and re adjustment, the third quarter of 2016 gross margin is above 13%, the industry turned to profit. Although due to the impact of the loss of the industry, resulting in a single quarter of meager profits, but generally believe that the fourth quarter and 2017 operating conditions as well as the opportunity to moderate improvement.

Crystal 2016 third quarter revenue of about 6 billion 590 million yuan (NT, the same below), quarter by 0.5%, the annual increase of approximately 6.7%, gross margin is over in 13.69%, operating profit 190 million yuan, the industry profit, but due to the loss of industry (exchange rate losses, financial losses and so on), a single quarter net profit of only about 53 million yuan, attributable to owners of the parent net profit of only 3 million 50 thousand yuan.

Accumulated in the first three quarters of revenue of about $19 billion 205 million, an annual decrease of 1.98%, operating losses of up to $1 billion 680 million, net loss attributable to owners of the parent company reached $3 billion 387 million, a loss of $3.18 per share.

In October this year, revenue continued to fall to 2 billion 132 million yuan, down by $2.88%, an increase of 9.52%. Accumulated 10 months before the revenue of about $21 billion 337 million, an annual decrease of 0.94%.

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