In the first half of the year, the LED boom was at the bottom of the valley. The gross profit margin of the packaged company Yiguang in the second quarter remained above 20%, which was better than the 9%-13% of the same industry packaging factory and the epitaxial faucet, mainly because the Yiguang product line was dispersed. Lee is relatively stable. Looking forward to the fourth quarter, Yiguang said that the depreciation and cost of the New Taiwan dollar will help the gross margin to return.
In the second quarter of Everlight, the overall demand for backlights and lighting was poor, and the unit price of the package declined. As a result, the gross profit margin fell from 24.71% of Q1 to 22.25% of Q2. However, it was 13.62% and 13.37% of Tongbei's Dongfang packaging factory. Compared with 10.7% of Ronda, it is still much higher. Mainly Yiguang products are diversified, including optocouplers, mobile flash, home appliances LEDs, displays, etc.; even for large applications such as backlighting and lighting, it does not exceed 25% of revenue.
The economic downturn has caused weak demand for TV backlights. The launch of low-cost LED bulbs by European and American lighting manufacturers has also caused the unit price of lighting to fall. In response to changes in external competition conditions, Yiguang said that this year, in addition to the introduction of low-cost new products, it also expanded. Other LED applications. In terms of lighting, Yiguang began to use Chinese chips to reduce costs, while introducing high-pressure wafer bulbs with an ex-factory price of only US$0.9; the customer base expanded from four major lighting brands to five major lighting distributors.
In other applications, Yiguang's mobile phone flash has a market share of 40% in Greater China; the backlight market has added Japanese and Korean customers. Yiguang also develops LED sensing applications, including infrared and UV packaging products.
Looking forward to the fourth quarter, the legal person believes that by reducing the cost of materials and dispersing the product line, Yiguang should be able to maintain stable profits in the low-end economy. In the third quarter, the gross profit margin is expected to rebound to more than 23% due to the decline in wafer costs; the fourth quarter is about the same as Q3. The fourth season of the German lighting factory Wofi, which was acquired by Everlight, is the peak season for shipments. The proportion of Wofi revenue increased, so Q4 revenue will be better than Q3.
LED packaging factory Dongbei and Rongchuang have suffered from a series of concentrated product lines, resulting in a sharp decline in profitability. Dongbei Bebao LED bulbs, the performance of the first three quarters of last year, the single-quarter earnings per share (EPS) also increased significantly, from the 2013 Q4 per share after-tax loss of 0.09 yuan (NT, the same below), increased to last year Q3 earned 0.87 yuan per share. However, due to the introduction of low-cost light bulbs in the United States in the first half of this year, Philips and Osram have caused the earnings per share of Dongbei Q2 to be only 0.2 yuan. Rong Chuang has a high proportion of backlights. Last year, Q1 earned more than 1 yuan per share after tax, and only 0.29 yuan remained in the second quarter of this year.
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