LED lamp factory Kleen Q1 revenue / gross margin rising, estimated profit doubled

LED lamp module manufacturers Liqing first quarter revenues increased by 5 in a single season, although the exchange loss of interference, but the legal assessment, the company was competing in Panzhihua revenue and gross margin, profit compared with last year is still expected to be doubled, 1.1~1.2 NT $EPS (NT, the same below), more than 0.53 yuan last year over the same period; in the second quarter, compared with the automobile industry entered the off-season, but Li Qing benefited from China, car factory using LED lights to enhance penetration, there is still a chance to maintain annual growth season, the overall performance increase, while in the third, fourth quarter and into the season, the annual results will continue to maintain high growth.

Li Qing first quarter revenue of 1 billion 18 million yuan, 1 billion 227 million yuan is high-grade since the fall of last season, but compared with the same period last year, while the annual increase of up to 5, reflecting the company in recent years in China, layout of fermentation, in particular, last year the company received the new car orders amounted to more than 100, to achieve the best level in history, has also become a push rise in revenue this year rising momentum.

Li Qing said that in recent years, mainland China, whether it is a joint venture brand, and its own brands, have replaced traditional lights with LED lights. At the same time, more and more countries have been forced to install daylight lights on the basis of legislation, which has also led to the growth of related demand. While the company optimized for many years in the mainland Chinese, in the local market share has reached 2, and benefit from the customer pull high LED lights use, it also drives the company's revenue steady growth.

Li Qing main customers last year for the the Great Wall, accounting for revenue ratio of 36%, followed by Shanghai Koito accounted for 18%, and 9% by Mao Wei Ruike; terminal brand, China before ten depots in Liqing delivery list, including Volkswagen, SAIC GM Wuling and SAIC, FAW Volkswagen, with a Changan auto, Dongfeng Nissan, Changan Ford, the Great Wall, Geely Automobile, due to the customer's market share reached China the overall car market into 5, so in the Chinese car city this year to maintain steady growth, Li Qing orders follow benefit.

Li Qing expected, this year the company's strongest growth kinetic energy will still come from the Great Wall and Shanghai koito. It is understood that the the Great Wall in the first quarter of this year the proportion of revenues reached 4 of beautiful Qing, Shanghai Koito also increased to 2, the two largest customers with new models this year continued to release, Li Qing's revenue growth will also play an important engine.

The performance part, Li Qing first quarter revenues stand 1 billion yuan, the annual increase of 5, the legal assessment, the company's customers to China mainland market, RMB is relatively stable, the first quarter will exchange loss in the tens of millions of dollars NT, interference profit is not big, the overall single season EPS still has a 1.1~1.2 level of 0.53 yuan. Yuan compared with the same period last year, growth doubled.

In the second quarter, Li Qing believes that the traditional March Chinese car city into the relatively low season, to 7, in August after the summer break, September is expected to enter the season, sales momentum will be stronger. However, due to the company's growth in vehicle orders over the same period last year, the second quarter of this year, the operation can still maintain a strong annual growth trend.

Legal assessment, Li Qing second quarter revenues still have the opportunity to maintain a quarter by annual growth, at 1 billion 200 million yuan in revenue, gross margin in the scale, though the single season EPS is expected to stand 1.5 yuan; and in the third, fourth quarter industry into the season, revenue, profits will again appear high performance; full year revenue. 4~5, and EPS will stand 5 yuan, 6 yuan challenge.

Li Qing also recently issued the notice will be the first time the unsecured debt of Switching Company, the upper limit of 701 million 400 thousand yuan, Li Qing said that the funds raised will be used to repay bank loans and substantial working capital, the company's current production capacity is sufficient, the short term is no expansion plan, to the current status of orders and negotiate the observation, the fastest next year half a year before they have the capacity shortage situation, do not rule out the plan to expand production in the next year.

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