The four major product lines to grow, look at this year's operating Tongxin electric music

Tongxin electric business last year and the new Taiwan dollar, pull goods has not been improved kinetic energy and so on, EPS is only 5.91 yuan (Note: This is nt, the same below), since 2011 lows. The board of directors of the company and by the proposed allotment of cash dividend of 6 yuan. This year, the company argued that it is optimistic about a year, the four major product lines can grow, the first quarter due to seasonal factors operating Piandan, but the second season starting can be strengthened, is expected to grow to third quarter by quarter, the fourth quarter operating it remains to be seen. In addition, this year with the new shipments increase, expected gross margin rose to 25~30% interval.

Tongxin electric for high power LED radiating ceramic substrate leader, leadership is also a niche type polycrystalline module packaging manufacturers. The company product revenues in the fourth quarter of last year and quarter growth rate respectively: ceramic substrate accounted for 40.6% of revenue (quarter by 9.6%), CIS image sensor accounted for 33.8% of revenue (quarter minus 1.5%), hybrid IC accounted for 17.7% of revenue (quarter minus 4.3%), high frequency components accounted for 5.9% of revenue (season minus 4.8%), other products accounted for 2% of revenue.

Tongxin electric in the fourth quarter of last year revenue of 2 billion yuan, an annual reduction of 1.3% quarter by 4.9%, fell mainly by industry off-season, the four major product lines simultaneously decline, but because of the new product shipments increase, the gross margin increased to 28.33%, quarter by 0.75 percentage points, camp interest rate rose to 19.03%, quarter by 0.31 percentage points pre tax, net profit of 365 million yuan, net profit after tax of 301 million yuan, 1.82 yuan EPS.

The company last year by the Taiwan dollar and new shipments of kinetic energy has not been improved, revenues of 7 billion 746 million yuan, the annual reduction of 3.88%, gross margin of 24.5%, the camp benefit rate of 15%, industry loss impact by the Department of 76 million yuan, net profit of 1 billion 100 million yuan, net profit after tax of 974 million yuan, EPS 5.91 yuan, since 2011 low point. The board of directors of the company and by the proposed allotment of cash dividend of 6 yuan.

The first quarter of this year is still affected by seasonal factors, and new customer shipments are still adjusting, operating Piandan, January revenues of 627 million yuan, the annual increase of 0.85%, February revenue of 497 million yuan, the annual reduction of 13.85%. The company said the first quarter adjustment period, 2018 should be quite optimistic about the prospect of a year, the four major product lines can be expected to the third quarter revenue growth, Jieke every quarter to the fourth quarter, are to be further observed.

The gross margin performance, the company said in a high gross margin this year 3D sensor continued peatlands, driven by the optimization of the overall product, coupled with the ceramic substrate, high margin aluminum nitride in the fourth quarter of last year the proportion has risen to 67%, this year gross margin is expected to rise to 25~30% interval.

A new "3D" sensing the situation this year, companies that, in order to customer demand, mobile phone looks good, has begun to pull goods; infrared image sensor growth momentum clear, 1 customers have mass production, the other 1 will be in the second half. Assembly, customers give quite optimistic outlook; not visible light sensor, the second half is expected to have customer production. Overall, the main energy will start from the end of the second quarter of last year, 3D sensing revenue contribution of about 3% this year, conservative estimates can be doubled to 6%.

The prospect of this year camp movement energy company said, "high frequency components" this year growth momentum is strongest, mainly from the optical fiber communication customer demand continues to grow. "Ceramic" to automobile headlamp lighting applications, high power laser energy substrate for the strongest, the main growth from the 2 modules of customers, there are 2 mobile phone customers after the expected demand will appear, inject growth momentum. "CIS image sensor" kinetic energy will come from the 3D sensing ship lift. "The biggest application of hybrid integrated circuits for automotive electronics, accounted for more than half of this year; with the application in automotive turbo engine pressure sensor demand growth is revealed, in addition to health; medical applications, DNA ranking will increase new customers, and customers to do handheld ultrasound detection head, actively cooperate with the company, is expected to there will be a revenue contribution this year, next year more kinetic energy.

Source: Money DJ

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