LED lamp module shipment continues to grow, Li Qing Q2 revenue growth of over 3

Li Qing's combined revenue in the second quarter of 2018 was NT $1 billion 26 million (NTD, the same below), benefiting from the growth of its LED lamp module, and its second quarter revenue increased by 35.78% annually. However, it was affected by the price rise of some components, the adjustment of mainland wages and the adjustment period of new and old products. The profit is 34 million yuan, the earnings per share after tax (EPS) is 0.49 yuan, the annual increase rate is 44.82% and 44.12% respectively.

Benefiting from the main customers' continuous warming of their LED lamp module products, Li Qing's earnings growth in the second quarter has shown signs of growth. Due to the adjustment of new and old products, the increase of new customers and new orders, and the increase of related research and development costs, the gross profit margins and operating profit rates of the second quarter were maintained by 15.99% and 3.09% respectively. However, since June, the number of new car orders has been gradually added to mass production, and the capacity utilization rate of all production bases has been promoted. We hope that with the strong momentum of single track, accelerating the replacement of new and old products, plus the company's commitment to Cheng Youhua, production line automation and other important strategy implementation, the benefit will help to see the overall operation in the second half of the year.

Li Qing in the first half of this year, the proportion of auto Department revenue is still up to 93% level. From the product perspective, the sales revenue of LED taillights, daytime lights, headlights / fog lamps and headlamp module products is 55%, 30% and 10% respectively. Among them, the LED headlamp / fog lamp revenue is obviously growing compared with the same period last year, and has not been shipped with LED headlights / fog lamps. Continued growth will have the opportunity to drive the overall operation of the continuous upward engine energy.

Looking forward to the second half of 2018, Li Qing is optimistic that the auto Department will continue to grow strong and boost the overall operation performance. Although the third quarter is the traditional off-season of the auto industry, the orders for new cars benefited from the new car sales volume have been gradually produced since the second half of this year. And because the new products can enjoy a better than the average gross margin level, we hope to create an overall operating profit table when the new and old products are coming to an end, optimizing the product mix and improving the production efficiency. Now we are growing quarterly.

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