Group light Q3 gross margin estimate of high-grade; Q4 revenue climbed this year peak

Only the third quarter of this year the product line is shipped before Ji Zengwen, revenue quarter by 14.87%, in line with expectations, legal person said, because the third quarter product portfolio, gross margin estimate steady before the season, high-grade, better than the same period last year, the fourth season includes high order keyboard, imaging product shipments increased temperature, revenue is expected to continue to grow, as of this year peak.

The current revenue structure of the group of products for the keyboard, video (lens module, DV products, IPCAM, driving recorder, etc.), power supply accounted for about 30%, the other accounting for nearly 10%. Among them, the source of power supply business revenue sources, mainly to maintain about 50% of the shares of the subsidiary group.

Only the first half of this year revenue amounted to 34 billion 888 million yuan (NT, the same below), the annual reduction of 8.82%, because the main imaging products pull goods lighter by the impact, operating profit amounted to 1 billion 615 million yuan, the annual reduction of 6.42% yuan, lower than the same period last year EPS2.01.

Light the third quarter into the traditional peak season, each product line is shipped before Ji Zengwen, revenue reached 20 billion 974 million yuan, an annual reduction of 0.28% quarter by 14.87%, in line with expectations, legal person said, because the third quarter product portfolio, gross margin estimate steady before the season, high-grade, better than the same period last year, profit performance also see the growing season.

Legal person said that fourth quarter ASP (average price of product shipments is expected to rise) gaming keyboard, imaging products, smart home and wearable device shipments will be related to imaging products warming, power supply, new breakthrough vehicle LED lighting field will start shipping, overall revenue in the fourth quarter of this year, is expected to continue to grow peak.

In recent years, light active layout, ASP backlit keyboard better gaming keyboard keyboard because of high order, backlit keyboard and gaming keyboard keyboard is several times higher compared with the average price, high light into high order continuous application of customer groups, to help boost the overall revenue and profit structure continued to turn the keyboard.

The full year, legal person said, by the first half of the video product customer inventory adjustment effect, the pull of the lighter, in the first half year revenue by 8.82%, but the second half of the shipments of stronger momentum, the third quarter revenue decline rate of convergence (third quarter revenue minus 0.28%), in the fourth quarter, driven by new product shipments, single season the revenue is expected to turn into years of growth, and the annual revenues of approximately equal performance last year.

Corporate estimates, this year EPS group of about 5.5-6 yuan, in recent years due to cash dispensed at the rate of more than 7 level, in a stable dividend policy, next year in more than 7 allotment rate estimates, the current cash yields are more than 5% level.

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