One article understands the status of Taiwan factory operations

Yiguang Q2 may return to temperature; but the estimate is limited

In the first quarter of 2016, the LED packaging giant Everlight was affected by the off-season, LED price drop and the Spring Festival, making single-quarter revenue lower than the previous quarter and the same period in 2015. It is expected that the second quarter may turn for the better, but due to limited mobile phone products and backlighting kinetic energy, lighting has continued to grow and prices remain under pressure. It is estimated that the recovery will not be significant.

It is expected that Everlight's 2016 backlight business may be more difficult to grow than in 2015. As the smart phone market slowed down, TV demand remained calm, and the use of LEDs in TV backlighting continued to decrease, it is estimated that shipments of backlight products may be stable or slightly lower. Although shipments of lighting products are expected to maintain double-digit growth, product prices are under pressure, and profitability depends on the product mix.

As far as the infrared business is supported by the application of wearable devices, it is expected that the 2016 performance will remain flat or grow slightly. In addition, in terms of lighting projects, the outsourced Everlight may have the opportunity to obtain some Taiwan streetlights in 2016, but it is still necessary to observe when the revenue is recognized.

In response to the development of new product business, Yiguang Tongxin Plant is expected to introduce mass production in 2016. Most of the future automotive lighting, outdoor lighting, mood lighting and brand lighting will be produced in the Tucheng, Yuanli, and Tonglu factories in Taiwan. Major OEMs are produced in Guangzhou and Suzhou.

In terms of litigation, Yiguang filed a patent invalidation and non-infringement claim against U.S. White LED U.S. Patents Nos. US 5,998,925 and US 7,531,960 in the District Court of Eastern Michigan, USA in 2012. The two patents are YAG phosphors used in patents related to LED and phosphor concentration. Everlight received a judgement on January 19, 2016, dismissing the request of Nissan to request a new trial. Following the decision of the jury on April 22, 2015, it reconfirmed that all rights claimed by Japan Asia Chemicals are invalid. .

In response to the release of a press release on its website on March 24, Nissan said that it filed a patent litigation in the Beijing Intellectual Property Court in China (Chinese Patent No. CN 97196762.8 and CN 200610095837.4). The two Chinese patents are the above-mentioned Japanese white-lighting LED patent families. One, Yiguang firmly believes that the two Chinese patents are invalid and will assist dealers in making counterattacks.

Everlight is a large LED packaging company with its headquarters in the woods. Its factories are located in Tucheng and Yuanli, Taiwan, as well as in Suzhou, Guangzhou and other places in China. It also holds vertical positions in Jingdian (1.8%) and Taigu (9.7%). Integrate upstream LED die supply. It is estimated that the proportion of lighting in 2016 will be nearly 30%, the proportion of backlight will be estimated to be 20%-25%, invisible light will be about 15%-20%, and other applications will be about 30%.

Everlight’s revenue for the fourth quarter of 2015 reached 7.44 billion yuan (NTD, the same below), quarterly increase of 5%, and annual decrease of 8%. Legal persons estimate that the earnings per share for a single quarter will be about 1 yuan. In 2015, the revenue was approximately 28.819 billion yuan, and the annual decrease was 5.86%. The annual EPS was estimated to be about 4 yuan, and the annual reduction was about 20%, but it was still the highest in nearly 5 years. Accumulated revenue in January-February 2016 was approximately RMB 4.513 billion, a decrease of 4.84% year-on-year. It is estimated that the first quarter revenue may be lower than the previous quarter and the same period in 2015.

In the new century, the loss per share was 5.75 yuan Q2 last year.

In the new century, LED epitaxial plant announced its annual consolidated profit and loss. The annual revenue was 2.56 billion yuan, a 49.22% drop from the 4.057 billion yuan in 2014. The loss per share for the whole year came to 5.75 yuan. Compared with the small profit of 0.38 yuan in 2014, it turned from profit to loss. The loss for the fourth quarter of the new century was 2.98 yuan per share.

The LED industry suffered a drastic decline in lighting prices and the saturation of backlight demand last year. The upstream Epistar factory is miserable. Following Epistar’s leading crystal power company’s announcement of a loss of 2.81 yuan per share last year, the new century, which ranks second in Taiwan’s Lei Jing’s brother, also fell into the worst-hit areas.

The new century shows that last year's loss increased, mainly due to two one-time losses. The first is to eliminate old epitaxial machines and reduce the listed assets by 200 million; followed by the loss of inventory, last year, the price of crystals dropped sharply, and sales inventory saw a loss of 650 million yuan. At present, the inventory level has dropped smoothly, which is 40% less than the same period of last year.

The new century points out that in the second quarter, operations began to pick up. This year's goal is to sprint the performance of new wafer-level package (CSP) products and strive to increase gross profit margins. In the new century, customers in the automotive lighting market in China have already won orders for shipments this year; CSP terminal applications include commercial lighting such as searchlights and special lighting such as flashlights, and the market conditions have shown signs of recovery. At the same time, this year added the first-line crystal giant foundry business, is expected to increase by more than 10% in the second quarter.

Benefited from LED and automotive lighting, Guang Baoke 2015 EPS reached 3.11 Yuan YoY 12%

LiteOn Technology held the fourth quarter of 2015 conference on the 25th, benefitting from the increasing demand for power management systems, optoelectronic products and storage equipment used in cloud computing, LED lighting and mobile devices. The company achieved a turnover of 57.75 billion yuan in the fourth quarter. , Seasonal increase of 3%. Benefited from effective supply chain management and improved operating efficiency, after-tax net profit in the fourth quarter was 2.51 billion yuan, net profit per share reached 1.08 yuan, a record high since the eighth quarter; sales margin and operating profit margin were 13.8% respectively. And 5.1%, an annual increase of 2.9% and 2.7%.

Benefited from the growth of applications such as power management systems and optoelectronic products in the cloud, LED lighting and game consoles, as well as the improvement in the operational performance of mobile-related businesses, Lite-On Technology’s global combined 2015 revenue was RMB 216.93 billion, gross profit margin and business The profit margins were 13% and 4%, respectively, an increase of 0.8% and 0.9% year-on-year; after-tax net profit was 7.223 billion yuan, net profit per share was 3.11 yuan, and annual growth rate was 12%. Through active working capital management and net cash inflows generated by operating activities, net cash rose sharply to RMB 26.7 billion in the quarter.

In 2015, the main core businesses of Guang Baoke performed well and non-traditional personal computers (Non-PC) products accounted for more than 60% of the total revenue. Optoelectronics accounted for 25% of revenue; growth was mainly attributable to the increasing market demand for LED components and automotive lighting, consumer electronics and mobile devices, and the expansion of high-end product shipments to camera modules and high-end smart phones. The global market share continues to increase.

The information products division accounted for 49% of the overall revenue. Power Management In the cloud application server power management system and mobile devices market demand, revenue has reached a record high; institutions core business groups benefit from high-end server chassis shipment upgrades and input devices (keyboard, mouse Computer peripheral products, such as computer peripherals, expanded in market share and grew in shipments of peripherals for tablet PCs. As a result of the smooth shipment of new lasers, the multi-function printers grew at an annual rate of 2%. Storage equipment accounted for 16% of total revenue, benefiting from rising market demand, game-related product revenue growth of nearly 10%.

Looking forward to 2016, focusing on profitable and stable operations, we will continue to strengthen the Group's integration of resources and operational efficiency, and improve the performance of cloud computing, LED components, lighting, and mobile-related business operations. This will be the main axis of growth momentum and profitability for 2016. The Group's transformation will actively expand towards the top five IoT application areas such as cloud, LED lighting, automotive, biomedical and industrial automation.

Guangbo's Board of Directors today approved a dividend of 2.24 per share for 2015, including a cash dividend of 2.19 yuan per share and a stock dividend of 0.05 yuan per share. The share placement ratio and cash yield were 72% and 5.8% respectively, maintaining a consistently high dividend policy over the years.

The customer's capacity is damaged, and Rongchuang Q1's performance is expected to decline

LED Dachuang Rongchuang was affected by panel economic correction and LED supply surplus and product price drop last year. The revenue declined by 13%. The legal person estimated that the earnings per share was about 2 yuan, and the annual estimate was about 30%. In the first quarter of 2016, due to the industrial off-season, the New Year, and the largest customer base, the capacity to create capacity was affected by the earthquake damage. Following February's lower revenue, the preliminary estimate for March was still limited. The first-quarter results were estimated to be lower than the previous quarter and the same period last year.

At present, Rongchuang products are still relatively high in backlight, originally expected to be supported by the Group's resources, and the cooperation with Nippon Asia Chemicals will be conducive to the development of high-end packaged product business. In 2016, there will be a slight increase in revenue. However, considering the oversupply of LEDs, severe product prices and competition, and the continuous improvement of the panel economy, the challenges may increase.

Rongchuang is an LED packaging company under the Hon Hai Group. Its products include LED packaging components. The two major shareholders are Hon Hai Group and Nichia Nichia. Major customers include Innolux, Japanese/Korean and Chinese manufacturers. Among them, the revenue proportion of backlight products is nearly 90%, including about 10% for other applications such as automotive/lighting.

Affected by the economic correction, falling LED prices, and industrial competition, Rongchuang experienced a decline in its revenue in 2015, and its profitability also declined. In the first quarter of 2016, due to the traditional off-season, the Lunar New Year, and the reduction in pulling capacity caused by the earthquake caused by major customers' production capacity, it is estimated that the revenue may be lower than the previous quarter and the same period of last year.

Rongchuang’s revenue for the fourth quarter of 2015 was approximately RMB 1.51 billion, nearly 1% for the quarter, and approximately 23% for the year. The legal person estimated the gross profit margin for the single season to be 15%-16%, and the single quarter EPS was estimated to be around RMB 0.3. Accumulated 2015 revenues of approximately 6.176 billion yuan, a year-on-year reduction of 13%, a gross profit margin of approximately 16%, an EPS of approximately 2 yuan, and an annual devaluation of approximately 30%.

After recovering in January, the camp recovered to 557 million yuan, fell to 313 million yuan in February, decreased by 43.88%, decreased by 37.8%, and accumulated 1-2 months revenue was 870 million yuan, an annual decrease of 23.45%. We estimate that the revenue for March will increase slightly, and the estimated number of revenue for the first quarter will be reduced by 10%-15%, and the annual estimate will be over 20%.