The first quarter gross interest rate is good and the Micro LED project is expected to be launched in the second half of next year

The first quarter of this year's LED driver chip is 34.2%, a new year's new high, 1.29 yuan per share per share (NTD, the same), and the company has also released its own chip from Design in to Samsung's display and estimates the quarterly revenue of 20% in second quarter. As for the market concern, Micro LED, which has been progressively progressed, is expected to be published in the second half of 2019 (2H19). As for the automotive field, the OE market is the main part of the car. It has been introduced into the headlights and taillights, but it will take time to make a significant contribution. The first quarter showed a very good performance in the first quarter of this year, the first quarter of this year was very good, the first quarter gross interest rate was 34.2%, superior to last year's fourth quarter 29.5%, and 30.2% of the same period last year. The main reasons are the self-interest based product combination, the basic price strategy, and the US, Korea, Japan and other customers to promote the overseas revenue.

Chen Qikai, the general manager, said that the first quarter of this year from South Korea, the United States, Japan and other non mainland customers, revenue from the same period last year grew 40%, especially their own LED driver chip has been more smooth Design in to Samsung's film display, in addition, in 2020 to be held in the day of the Olympic Games, several Japanese customers There are important cases in which the customers include Panasonic, and it is expected to have some revenue contributions this year.

The first quarter of this year's revenue is 684 million yuan, the quarterly reduction 4.3%, the cost part, the first quarter 175 million yuan, slightly lower than the fourth quarter of last year, 178 million yuan, the quarterly reduction of 2.1%, the first quarter net profit of 39 million 715 thousand yuan, last year's net profit 41 million 752 thousand yuan, the first quarter net profit 1.29 yuan per share, the fourth quarter net profit of 1.31 yuan per share last year, accumulation is also explained. In the first quarter of this year, the tax was 12 million yuan, mainly because the mainland company's parent company was moved to Samoa by Brunei, which was a profitable company, and Taiwan, China, was due to tax.

On the Micro LED and Mini LED part of the market, chairman Yang Lichang expressed the belief that Micro LED will be the mainstream technology of the next generation display and try to transform it into a Micro LED integration provider. It is expected that there will be a Mini LED display product in the second half of this year, and that Mini LED will be introduced into the backlight of the mobile phone and TV. The custom-made products are coming out, and the Mini LED's display and mobile phone backlighting will start to have revenue contribution since the first half of 2019. As for the Micro LED part, it is expected that the display product will come out in the second half of 2019, and Micro LED will have to wait until 2020 to contribute to the accumulation of revenue.

As for the other focus of the market concern, the car market part, which is accumulated in the car lighting market, mainly in the OE market, has been introduced into the headlights and taillights, and has also obtained the AC Q100 certification, but it will also take time to make a significant revenue contribution, only to accumulate in the car market layout and to develop the future long line. There will be an important note.

Looking forward to this year, Chen Qikai said he was optimistic about the second season and was also very optimistic about the whole year. In addition, Yang Lichang believes that, based on the evolution of small spaced display specifications, and the continuous increase in Micro LED permeability, revenue is expected to grow significantly over the next three years. The legal person circle estimates that the revenue of the first half of this year is expected to reach 1 billion 400 million yuan to 1 billion 550 million yuan, while the second quarter revenue is about 716 million yuan to 866 million yuan. Compared with the first quarter of this year, the revenue season increases 4.7% to 26.6%, but the second quarter revenue growth rate is expected to fall at 20%. As for the second - quarter gross interest rate, it is still stable over the 30% key points.

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