LED epitaxial / grain giants Yuanyuan Optoelectronics (3061) suffered from market demand reduction, capacity utilization reduction, cost increase, product price decline, exchange loss and other factors in the fourth quarter of last year, resulting in a single quarter small loss. Although the company expects that the first quarter of this year's revenue will not be worse than the previous quarter (the initial estimate of the first quarter revenue should be roughly the same as the previous quarter), the cost (sapphire substrate prices slightly decreased) also slightly improved, however, due to TV backlight Source and lighting products are slowly warming up, and LED chips continue to fall in price. The market expects that the gross profit margin of the first quarter of this year may still have room to fall (some corporate estimates may fall below 20%).
At present, about 70% of the revenue from the round is from backlight products, the proportion of lighting applications is about 20%, and the proportion of other products is about 10%. With the launch of new models by brand manufacturers, and the stocking of China May Day holiday in April, and the promotion of Yangzhou Chauyang will be mass production in the second quarter (customers are already in place, such as major shareholder LG, Ruixuan (2489), etc., and the cooperation benefits of Yuyuan and strategic partner Mitsui Mitsui can also be seen from the second quarter (including the lighting module and backlight product shipment path can be expanded), the market It is expected that after the recovery of the camp in March to 400 million yuan, the revenue in April should be further increased. The overall second-quarter revenue may reach 1.3-1.4 billion yuan, and the quarterly increase is 20%-30%.
In terms of profitability, although the first quarter of this year, the revenue estimate will be flat, but the gross profit margin still has room to fall. However, due to the lower exchange rate interference in the first quarter, the legal person estimates that the first quarter of this year should turn profitable. It may be a small profit situation. In the second quarter, profitability should improve as capacity utilization increases and revenues increase significantly.
There are currently 56 MOCVD machines in the Taiwan factory, and there are 25 MOCVD machines in the Yangzhou plant in mainland China. The total number of MOCVD machines on both sides has been 81. The company expects that in 2011, Taiwan will expand another 10 MOCVD machines. The mainland will also add another 11 MOCVD machines. It is estimated that by the end of 2011, the total capacity of MOCVD machines on both sides will exceed 100 units.
At present, about 70% of the revenue from the round is from backlight products, the proportion of lighting applications is about 20%, and the proportion of other products is about 10%. With the launch of new models by brand manufacturers, and the stocking of China May Day holiday in April, and the promotion of Yangzhou Chauyang will be mass production in the second quarter (customers are already in place, such as major shareholder LG, Ruixuan (2489), etc., and the cooperation benefits of Yuyuan and strategic partner Mitsui Mitsui can also be seen from the second quarter (including the lighting module and backlight product shipment path can be expanded), the market It is expected that after the recovery of the camp in March to 400 million yuan, the revenue in April should be further increased. The overall second-quarter revenue may reach 1.3-1.4 billion yuan, and the quarterly increase is 20%-30%.
In terms of profitability, although the first quarter of this year, the revenue estimate will be flat, but the gross profit margin still has room to fall. However, due to the lower exchange rate interference in the first quarter, the legal person estimates that the first quarter of this year should turn profitable. It may be a small profit situation. In the second quarter, profitability should improve as capacity utilization increases and revenues increase significantly.
There are currently 56 MOCVD machines in the Taiwan factory, and there are 25 MOCVD machines in the Yangzhou plant in mainland China. The total number of MOCVD machines on both sides has been 81. The company expects that in 2011, Taiwan will expand another 10 MOCVD machines. The mainland will also add another 11 MOCVD machines. It is estimated that by the end of 2011, the total capacity of MOCVD machines on both sides will exceed 100 units.
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