LED packaging giants Everlight's second quarter revenue surge

In the second quarter of LED packaging giants, the revenue of the second quarter was nearly 7.7 billion yuan (NTD, the same below, RMB 1.571 billion yuan), the quarter increased by about 23, an annual increase of nearly 30%, due to the increase in the rate of production, initial estimates In the second quarter, the gross profit margin and operating profit were better than the first quarter. The earnings per share was estimated to be nearly 1 yuan, and the accumulated earnings per share for the first half of the year was estimated to be 2 yuan. With the coming of the backlight and lighting season, coupled with the new capacity, it is expected that the third quarter revenue will be more than 8 billion yuan (about 1.632 billion yuan), a new high. Yiguang 7/24 ex-dividend, cash for each share is nearly 3 yuan (about 0.612 yuan). Yiguang is a leading LED packaging manufacturer in Taiwan, and its product business application fields are diversified. At present, the proportion of backlight applications is about 2-3 percent, the proportion of mobile phone applications is about 30%, and the proportion of lighting applications is about 1-2 percent. The total revenue of infrared and other products (including vehicles) is about 30% to 20%. In recent years, the LED industry has undergone several wave adjustments, but Yiguang has continued to profit for many years with its cost control and management efficiency advantages. In response to the accelerated growth of LED lighting, Yiguang acquired the German lighting factory WOFI in 2013 and expanded the lighting layout. Recently, it has been strengthening the development of other niche-based application markets such as automobiles and billboards. In response to the continuous expansion of the lighting products business, Everlight continued to expand its production capacity this year. It is expected that the new production capacity will contribute to the overall performance in the second half of this year. In the first quarter of this year, Everlight's revenue was about 6.254 billion yuan (about 1.276 billion yuan), the gross profit margin was 25.6 in a single quarter, the net profit after tax was 420 million yuan (about 85.68 million yuan), and the earnings per share was about 1 yuan. In the second quarter, revenue was nearly 7.7 billion yuan (about 1.571 billion yuan), and the quarter increased by 23%. The annual growth rate was nearly 30%. Due to the increase in the utilization rate, the second quarter gross profit margin and operating profit were better than the first quarter. . The original market is expected to be profitable in the second quarter of Yiguang under the contribution of the discretionary crystal stocks. However, due to the one-off loss caused by the investment in Fuju Solar, it is estimated that the second quarter earnings per share may be nearly 1 yuan, and the accumulated first-quarter earnings per share is estimated to be 2 yuan. Looking forward to the second half of the year, with the traditional peak season of backlighting and lighting coming, and the lighting business driven by WOFI's performance, the growth momentum is positive, and the new capacity is expanded and the production expansion is estimated to be over 10%. The legal person expects that the company's performance will be in the second half of this year. It will be better than the first half of the year, in which the third quarter revenue is estimated to be more than 8 billion yuan (about 1.632 billion yuan), and it has the opportunity to challenge the historical high, and may be the peak of operations this year. The company's shareholder meeting has already issued nearly 3 yuan in cash dividends per share and is expected to be ex-dividend at 7/24.

Steel Casting

In the investment casting industry, steel castings are the most used castings in the manufacturing industry, and are widely used in equipment, agricultural machinery, machining, and automobile industries. Metal castings can produce parts with complex shapes, but there are also requirements for the design of the product structure. In the case of meeting the requirements of use, it should also try to comply with the casting process. For example, in the structural design, care should be taken not to have thin walls, which may easily lead to dissatisfaction with pouring or product deformation; for example, try not to have sharp corners, try to use radian transitions; and try not to appear small and deep blind holes, It will cause great trouble for foundry sand cleaning. Of course, there are many other structural problems. We will improve and optimize the product structure according to the customer's drawings without changing the customer's functional use, so as to maximize the product qualification rate and production efficiency. In some cases where the structure cannot be changed, we will also perform some follow-up processing after casting according to actual problems, so that the expected results can also be achieved.

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