Li: niche application driven, Q2 back temperature, Q3 continued heating

Table LED packaging factory Baihong in June of this year revenues jumped to nearly 10 month high, mainly in lighting, infrared energy niche and so on product shipments growth driven. Overall second quarter revenue increased by 16.8%, but still reduced by nearly 9%, it is due to the reduction of road engineering business this year. The third quarter is expected to do even better than last season, but it may not be easy to grow compared with the same period last year.

The company expected, the second half of the main energy is niche applications, including infrared, lighting and so on, the main applications include control equipment, wearable device, sweeping robot, virtual reality, cabin lighting, automotive lighting, lighting, lighting and so on situation of plant.

Estimated that in the second half of this year, revenue has an opportunity to grow by two digits compared with the first half, the overall revenue ratio in the first half of the year may be 45 to 55, because the product portfolio is better, the profit ratio in the second half may be 4 to 6.

As for street lighting / Public Works Department in Taiwan at present Chinese market, but because the area of Taiwan street this year already bid less than last year, with many competitors, increase the product price is not ideal, this year in the case of Baihong street lighting power input may be reduced, the overall road lamp business contribution will shrink.

Baihong 2016 revenue of 2 billion 168 million yuan (NT, the same below), the annual increase of approximately 6%, earnings per share 0.9 yuan, a record high of nearly 5 years, 0.8 yuan per share allotment of cash dividend, dividend 7/17. Mainly due to product mix and customer structure adjustment, gross margin rebounded sharply to 19.48%, since 2008 nearly 9 years since the band high.

2017 first quarter revenue of 457 million yuan, an annual reduction of 3% quarter by 11%, but the gross margin of 21.8%, stable water level year by 1 percentage points, to maintain more than 2, plus the cost of improved operating profit increased to 26 million yuan, the annual increase of 25 times, after tax net profit of 28 million yuan, earnings per share 0.15 yuan, the annual increase of nearly 2 times.

Following the 4 and May cooling, June camp back up to 204 million yuan, up by 35.66%, the annual decrease of 11.72%, a record high of nearly 10 months, the overall second quarter revenue of 534 million yuan, 16.83% quarter, an annual decrease of 8.99%. Accumulated first half revenue of about 991 million yuan, 6.17% less.

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