Seoul semiconductor Q2 operating profit of 145 million yuan, an increase of 144.9%

South Korea LED (Seoul Semiconductor) Seoul semiconductor manufacturers disclosure 1 second quarter results, the company benefited from the strong sales department and general lighting in the advantages of company Q2 with revenue of 267 billion won (about 1 billion 600 million yuan), growth of 14.9% over the same period last year; operating profit of 24 billion 100 million won (about 145 million yuan) an increase of 144.9%. Among them, the auto lighting sales year-on-year growth for the company brought high profits.

For the lighting department, Wicop and Acrich significantly increase the proportion of differentiated products, but such as daytime running lights and car headlights and other car exterior lamps continue to grow rapidly. Due to high-tech requirements and intellectual property rights, the field of automotive lighting has entered a high barrier. Seoul hopes to gain more market share through differentiated Wicop technology. For the IT division, current customer expansion and new customer orders are the main drivers of sales growth.

In order to improve the stability of the stock and the interests of shareholders, based on the company's current dividend level is only half the average level of the industry, but also must be increased to the average level of the industry, Seoul semiconductor announced plans to almost double the expected dividend. In addition, the company has sufficient cash generating capacity, because it has set aside taxes, interest, depreciation and amortization before the profit (EBITDA) more than 20% of the proceeds, leaving sufficient funds for future investments. This is part of Seoul's announcement last year of the 10 billion won stock repurchase program.

Company outlook

Seoul semiconductor expects revenue of 260 to 28 billion won in the third quarter. The company plans to further strengthen its unique technology (including Acrich and Wicop) sales and marketing activities, and focus on getting more customers in order to achieve higher returns.

Sangbum Lee, chief financial officer of the company said the new LED SunLike announced in June was held in the German press conference in Frankfurt can produce similar light and natural light, SunLike light generated close to natural light spectrum. The company plans to launch new products for the remainder of the year and is focused on protecting the company's intellectual property rights. (compile: LEDinside, Nicole)

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