Light hung relocation has been completed by the end of Micro LED development

LED epitaxial plant light win Tech in the second half of the year was affected by seasonal factors and the impact of relocation, revenue is mediocre, but the gross margin and profit roughly stable. To estimate the EPS this year will be the best in recent three years. At present, the new plant equipment has been stationed in, is expected to move to the factory work will be completed by the end of next year will be a new capacity. At the same time the company has also invested in Micro LED development.

In 2018, the expected off-season effect will continue until the lunar new year, Spring Festival is expected to gradually warming. The factory moved after the addition of the new capacity will be opened gradually in the first half of next year, because the new equipment for second-hand machines, increased depreciation co.. With production capacity, new product next year, four yuan LED shipment growth rate more than 3 challenges, UV UVA products should be to maintain more than 10% growth, UVC continuous product certification. Early will be home appliance products, and the factory specializing in the medical market segment.

In recent years the company continued to adjust the product mix, the proportion of the past is not a small blue LED, now the proportion has dropped to 2, multicolor LED used in various non consumer products, such as car, decorative lights, stage lights, plant lighting, security monitoring equipment and so on, increased the proportion of. Among them, the proportion of about four yuan LED more than 4, the proportion of green LED about 10% ~ 20%, the proportion of about 2 LED uv.

At the same time, the industry trend, the company has also invested in Micro LED and Mini LED, a new generation of technology research and development. According to customer demand, can also provide CSP chip packaging products.

LED light hung EPI wafer and grain producers, can become its largest shareholder, the shareholding ratio of about 7.3%.

Due to industry changes, 2015 gross margin decline significantly, annual fall in the loss near the flat. With the continuous adjustment of product mix, 2016 revenue and earnings from continuing operations bottomed out, but because the recognized exchange loss and CB loss caused investors to redeem, still only small profit after tax.

The second quarter of this year although the listed accounts receivable bad debt, resulting in operating costs increase, but increase the proportion of niche products, product mix optimization, gross profit margin further rise, the overall EPS in the first half of about 0.27 yuan (NT, the same below), the profit is still better. The third quarter began to move to the factory, originally from Tainan Science Park to tree Valley Park, resulting in revenue and gross margin decline compared with the previous quarter, but the cost is reduced, the single quarter profit unchanged from the previous quarter. A total of about 0.52 yuan before the three season EPS.

Because in the fourth quarter of industry off-season, plus the factory moved continuously, is expected to move to the factory operation will be the end of this year, completion of the new capacity will be gradually opened in the first half of next year, four yuan, the expansion mainly infrared, UV products, preliminary estimates of revenues in the fourth quarter of mediocre. Among them, October revenue of about 93 million yuan, year, month minus 0.8% minus 3.9%, 10 months before the cumulative revenue of about 1 billion 63 million yuan, the annual increase of 1.8%. If there is no accident, this year revenue is expected to flat, EPS will be the best performance in recent three years.

Source: Money DJ

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