Mini LED four quarter production, operating or warming in the second half of the year

Li Bingjie, chairman of crystal electricity, points out that the second quarter of this year is not necessarily worse than the first season, but the worst is the bottom of this year. Because now the blue light LED is weak, but four yuan LED demand strong, full capacity, estimated four yuan kinetic energy sustainable to the third quarter, then there is backlighting, lighting inventory recharge demand, the fourth quarter, Mini LED mobile phone application of new products delivery, the second half will be more than the first half of the temperature.

At present, it is also planned to divide the group into three business groups according to the business nature, which are ES Corporation, ES Semiconductor, ES Technology, respectively responsible for the LED/LD cause (blue light, four yuan, VCSEL), Foundry cause (OED/Vcsel, PED/GaN/Si), and zero component / module cause. Ll).

Zhou Mingjun, general manager of crystal electricity, further explained that the transformation of the enterprise is for the future growth. In the past, the LED can be the main axis to realize the infinite possibility of the 35 ethnic semiconductors, focusing on the 35 ethnic group technology, developing the core power of the company, and responding to the terminal customers quickly. Demand.

For example, the newly established Foundry industry has a large capacity of self-made production, which can be supplied vertically, from EPI to Chip, in accordance with customer needs. Since the beginning of the business is not very large, if another company is set up to do it, it will be more valuable. As to whether the customer is willing to take a single and after the list is worried about the technical outflow, see whether the past record of the market can be trusted by the customer.

In the aspects of zero components and modules, the crystal will focus on the Wafer level package, and now it has CSP service. The future develops to Micro LED, and the traditional packaging technology is less useful, because the distance between LED is too small and the traditional material is unable to cope with it. Furthermore, the integrated functional chip module, such as the Sensor module in the industrial and automotive fields, requires a combination of different wavelengths of LED.

At present, the VCSEL products are mainly supplied by the supply data center. The company continues to change the machine and expand the VCSEL capacity building. It is estimated that more machines will be put into VCSEL production this year, and the VCSEL capacity will be further increased by 25%. Considering the initial yield, quality and learning curve, it is expected that the contribution of next year is more obvious.

For the outside concerns of VCSEL and Mini LED, these new products will account for the proportion of its revenue this year, Li Bingjie stressed that, including CSP, Mini LED, integrated chip modules, and so on, this year there should be an influential percentage (the market may be estimated to be about 10%).

Mini LED alone, the electricity in the ongoing project, the company's view is more optimistic. The Mini LED may eat crystal electricity 3~4 into capacity by the year after it is more reliable.

Last year, 25 billion 271 million yuan (NT, the same), the gross interest rate 21.7%, the annual increase of 14 percentage points, the business interest of 2 billion 307 million yuan, the trade surplus, the foreign exchange loss of 4 billion yuan, after tax net profit of 1 billion 650 million yuan, earnings 1.55 yuan per share, for nearly three years, the end of the two years of loss situation. The board decided to distribute a cash dividend of 0.8 yuan per share for the first time in the last 3 years.

The first quarter of this year was affected by the increase of industrial supply, customer inventory adjustment, LED price drop, lunar new year and other factors, the single season revenue fell to 5 billion 148 million yuan, the quarterly decrease of 13%, the annual decrease of 10%, a new low in the near 20 season. The first quarter gross interest rate dropped to 17.2%, the annual decrease of 2.5 percentage points, the operating interest of 127 million yuan and the annual decrease of 69%. However, the first quarter of this year had the income tax return, resulting in the net profit of 400 million yuan after the first quarter of this year, the surplus of 0.37 yuan per share, and the period of the same period of the same period for the last 3 years.

Although April revenue fell to 1 billion 665 million yuan, the monthly decrease of 6.23%, the annual decrease of 23.9%, the first 4 months revenue of 68 billion yuan, the annual decrease of 14%, but the company believes that the second quarter of this year will not be worse than the first quarter, the worst case is the bottom of this year. The main reason is four yuan LED demand strong, full capacity, for the overall second quarter to provide support, and four yuan kinetic energy is expected to continue in the third quarter, then there is backlighting, lighting demand back up, the fourth quarter, the Mini LED mobile phone application of new products delivery, the next half year will be better than the first half of the year.

Source: Money DJ

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