LED display and niche application products are in force, and Hongqi Q2 increases the year on year.

LED packaging plant macro adjustment product business structure, this year, the operation has continued to improve steadily. The first quarter gross interest rate set a new high in the same period of nearly 7 years. The earnings per share of 0.21 yuan per share (NT, the same below) and the loss to earnings from the same period were also the new high in the same period of the same period in the same period of 4 years. Under the support of display orders and the demand for niche applications, plus the growth of infrared products, although revenue fell slightly in April, the first second quarter revenue is expected to be better than the same period last year.

In the display, Hongqi is mainly co - operating with mainland customers. Early to supply display LED packaging components, gradually increasing the proportion of module product delivery, driving the average unit price and revenue growth. In the past, the specifications of the LED package were 1010 and 0808, and the mainstream was 0808 and 0606. At the same time, the company also aims at the Mini LED application trend, the introduction of Mini 4-in-1 LED, the 4 RGB LED encapsulated to 1 four and one LED, initial shipment than revaluation limited, follow-up development needs to continue to observe.

Although Hongqi has faded out of the consumer electronics backlight market, with the rise of the new generation of Mini LED backlight design technology, the company has also tried to cut its Mini LED products into the field of mobile backlighting. As for the stable growth of the infrared products after the new production capacity of mainland Guangzhou last year, the company's target is to increase the proportion of infrared products to 10% this year, and the proportion of display products to 40% water level. Other consumption / niche applications, lighting, mobile backlighting and so on are estimated to be around 50%.

In the depreciation part, Hong Kong's capital expenditure slowed in recent years. As the equipment depreciation of Hsinchu plant gradually came to an end, the gross profit rate was raised. It is expected that the depreciation amount for this year may be about about 40000000 yuan from last year, and 10~15% will be reduced again.

In addition, Hong Qi and long - yuan cooperation, to invest in Yangzhou long RFID technology electronic label products, the outside world is optimistic about the opportunity to benefit from the wisdom of retail, unmanned store trends, since Hong Qi holds the Yangzhou long equity ratio of 40%, the future substantial benefits are also paid attention.

The annual revenue of Hong Qi was about 3 billion 13 million yuan, the annual increase of 6.24%, the gross profit rate at 22%, at least 10 years, the profit of 293 million yuan, the profit of the industry was the best for nearly 7 years, the net profit after tax 227 million yuan and the earnings of 1.12 yuan per share, which was the new high in the last 3 years. The board of directors has issued a cash dividend of 1 yuan per share, and the shareholders' meeting is expected to be held in 6/21, and the director will be reelected.

In the first quarter of this year, the first quarter was accounted for by some display items, driving a single season revenue station 774 million yuan and an annual increase of 12%. It was a new high in the same period of 3 years. The single quarter gross interest rate was 21.45% and more than 1 percentage points. The business interest was 57 million yuan, the annual increase 72%, the net profit after tax 43 million yuan and the earnings of 0.21 yuan per share were 0.21 yuan per share, which was also the same period of nearly 4 years. High. Although April revenue fell to 258 million yuan, the monthly decrease of 5.7%, the annual increase of 11.1%, the first 4 months of the revenue of 1 billion 56 million yuan, the annual increase of 14.9%. The first second quarter revenue is still expected to be better than the same period last year.

Source: Money DJ

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