Taiwan's third-quarter LED upstream and downstream profit gap widened
In the third quarter, the LED packaging factory and the epitaxial plant have different profit levels, which basically show the phenomenon of thin and fat. The upstream crystal power and the round profit are not ideal. The downstream packaging companies such as Yiguang, Hongqi, Qihong, Dongbei, Guangding and Liqi have good results. The downstream packaging giants in the first three quarters The net profit after tax of each share was NT$3.68, which opened the gap with the upstream epitaxial wafer factory 0.94 yuan.
The visibility of LED orders in the third quarter was not high, and the revenues of Jingdian and Yiyuan were both lower than those in the second quarter. The new production capacity of Jingdian was in place in the third quarter, but the orders were not very smooth, the gross profit margin slipped to around 17%, and the third quarter profit was less than NT$100 million. The EPS was only 0.13 yuan, down more than the previous quarter. to make. In the third quarter, the gross profit margin was 19.4%, EPS was 0.07 yuan, and the profit was also more than 70% lower than the second quarter. However, Jingdian's share price hit a daily limit, and Yuanyuan still stopped at the daily limit.
In the LED packaging factory, Yiguang benefited from the increase in shipments of smart phone side light sources. In the third quarter, the combined gross profit margin returned to 30%, plus more than RMB 9000 million in exchange rebate benefits. Everlight's third quarter after-tax net profit was 484 million. Yuan New Taiwan Dollar. However, due to the second-quarter earnings of Yiguang, the profit of the previous quarter reached 502 million yuan, which reduced the profit of the third quarter of the third quarter by 3.58%, EPS 1.33 yuan, and accumulated the first three quarters of EPS 3.68 yuan.
Taiwan LED manufacturers financial report: small factory eye-catching big factory is bad
With the release of the LED quarterly report of Taiwan in China, the performance of each manufacturer's financial report has been inspected. The small factory has performed well, and the product line of the large factory covers a wide range. It is difficult to be affected by the boom. Crystal power is one of them.
As for the performance of the LED industry's first three quarters, the new century is currently the best EPS performance. In the first three quarters, the annual growth rate of profitability was the most eye-catching with 118.3%, and the new century and Hongqi (40% annual increase) also had a growth rate of over 40%. In addition, Taigu turned profitable.
Taking the LED factory's third-quarter profit observation, the performance of Guangding's quarter-to-quarter growth rate is more than doubled. The company's performance is 61%, which is better than the original market's estimated 30% growth rate. Hongqi also has 40%. The rate of increase in the quarter is from profit to profit. As for the crystal power, it was the worst in the 77% decline, and the performance in the round season was 71.9%.
From the comparison of upstream and downstream industries, the performance of downstream packaging plants is significantly better than that of upstream extension manufacturers. The profit performance of major packaging factories such as Yiguang, Hongqi, Qihong, Dongbei (2499) and Guangding was significantly higher than that in the second quarter. On the one hand, due to the exchange gains, on the one hand, the product price decline Slow, the proportion of new applications is rising.
[ Product evaluation: LED new spotlight product evaluation]
[ Product evaluation: Rui Tuo LED guardrail tube evaluation]
[ Product evaluation: product brand downlight product evaluation] [ Product evaluation: Lei Ao Trail Light Product Evaluation]
[ Product evaluation: Lei Ao buried lamp product evaluation]
[ Product evaluation: Jiacheng brand spotlight product evaluation]
1
