IHS's report predicts that packaged LED revenue will grow by 14.8% to US$4.812 billion. "LED Lighting World" believes that the output value of LED packaging will increase significantly in 2014, with the engineering, commercial, and outdoor markets growing most significantly. Coupled with the rising market demand for LED bulbs, lamp tubes and commercial lighting, the market demand for medium-power LEDs has increased significantly. The penetration rate of LED for TV backlight reached 93% in 2013. Affected by the saturation of penetration rate and the slowdown in terminal TV sales growth, it remains to be seen whether the output value of LED TV backlights in 2014 will increase or decline compared with 2013. However, we believe that TV backlights in 2014 will stabilize in 2013. In the field of large-screen displays, it is currently difficult to make a major breakthrough in the growth of LED display performance. It remains to be seen whether the hot small-pitch LED displays on the market can replace some TV backlight application models and enter the commercial and mass consumer markets.
Representative enterprise
Net profit range (yuan)
Growth fluctuation
Analysis
Ruifeng Optoelectronics
6.8446 million - 8.5558 million,
20%-0%
Although the company's overall sales have achieved good growth, the growth mainly comes from lighting LED products, while medium and large-sized backlight products that contribute significantly to the company's profits have experienced a slight decline, resulting in a year-on-year decline in the company's overall profits.
Jufei Optoelectronics
34.873 million---43.5912 million
20 %--50%
Jufei Optoelectronics' various businesses are showing a good development trend. Among them, small-size backlight products continue to maintain rapid growth, and the international market expansion effect is obvious; medium- and large-size backlight business is growing rapidly; LED lighting device business is developing well. The company achieved rapid growth in sales revenue and also brought rapid growth in net profit.
Nationstar Optoelectronics
24.5469 million - 31.2416 million
75%-105%
Due to its own packaging and downstream applications. Due to the increase in the company's sales revenue.
Hongli Optoelectronics
14.5192 million - 17.0082 million
< p>75%-105%
In the first quarter of 2014, the company's net profit attributable to shareholders of listed companies was 14.5192 million yuan and 17.0082 million yuan, an increase of 75%-105% over the same period last year. Hongli Optoelectronics said that in the first quarter of 2014, the LED lighting market demand was good, which effectively released the company's production capacity, and the company maintained stable growth in its main business.
Rectangular lighting
8 million-11 million
-22.45%—6.63%
In the first quarter of this year, Changfang Lighting's sales revenue grew rapidly, mainly due to the overall improvement of the LED lighting industry, continued product demand, and the company's continued channel construction and brand building. The sales of the company's packaging products and application products increased significantly, and the product market share further increased. With the further expansion of the company's industrial chain, the company's profitability has been further enhanced.
Lehman Optoelectronics
6.03 million
9.54%
The company has increased its market development efforts and actively explored new business profit models. The company's main business income has increased compared with the same period last year. During the reporting period, the company increased investment in the development of new markets and new product research and development. At the same time, labor costs continued to rise, resulting in a significant increase in the company's expenses during the reporting period compared with the same period last year.
Performance of Taiwan’s representative packaging manufacturers
The performance of Taiwanese LED factories in the first quarter exceeded expectations, and the performance of downstream packaging plants was better than that of upstream epitaxial plants. Among them, Everlight, Dongbei, Epistar, etc. saw an increase in gross profit margin in the first quarter. Everlight's performance in the first quarter was better than that in the fourth quarter of last year, and Dongbei's single-quarter profit is expected to hit an eight-quarter high. The first quarter is the off-season for LED factories, but this year has seen the best results in the past. Epistar and Everlight both worked overtime during the Spring Festival. Epistar’s revenue hit a new high in March. The financial reports of LED factories in the first quarter are expected to perform well.
Currently, Everlight is expected to remain the profit leader among listed LED companies. Everlight's revenue in the first quarter was 6.227 billion yuan (NT$, the same below), a quarterly decrease of approximately 8% and an annual increase of more than 25%; however, the gross profit margin in the first quarter was better than the 25.95% in the fourth quarter of last year, so the profit in the first quarter will be better than the fourth quarter last year, and the net earnings per share may start from 1 yuan.
Last year, the LED industry was in a downturn, but Everlight posted a good net profit of 3.51 yuan per share. Everlight's competitive advantages are cost reduction and strong market development capabilities. As related benefits continue to ferment, Everlight has the opportunity to challenge 5 yuan in net earnings per share this year. Everlight has benefited from the gradual emergence of its own brand of LED lighting. It has also won new orders from major Japanese and mainland LED TV manufacturers this year and started shipping in the first quarter, driving the company's first quarter performance to be strong in the off-season.
Ye Yinfu, chairman of Everlight, said that product lines including backlight, lighting, traditional components and other products are all booming this year, and since the revenue of German lighting manufacturer WOFI began to be recognized in August last year, it will be recognized for the whole year this year, and the full-year revenue will definitely reach a new high. In terms of profitability, the company will take advantage of cost savings and expenses, and strive to make profit performance also move in the direction of growth. This year's profit will be better than last year. Everlight estimates that LED lighting will account for 30% of the company's revenue this year.
Dongbei’s revenue in the first quarter was 1.914 billion yuan, a quarterly increase of 6.84%. However, due to the increase in gross profit margin, the first quarter not only turned a loss into a profit, but also set a new high in eight quarters. Dongbei's net earnings per share in a single quarter reached more than 0.5 yuan, and this year's full-year net earnings per share will exceed 3.28 yuan in 2004, which is the best result in 10 years.
As the size of mainstream TV models this year has expanded from 32" to 40"~42", and the demand for ultra-high resolution (UHD, Ultra High Definition or 4K TV) above 50" has also increased significantly, the average LED usage has increased significantly compared with ordinary HD conventional models, causing the demand for LED backlight to explode in the first quarter ahead of schedule. In addition, in addition to the early start of demand for large-size products in Europe and the United States, it is estimated that after March, coupled with the May Day stocking rush of mainland color TV brand manufacturers, the demand for TV backlight products is expected to be more lively, and the overall industry's orders and operations in March will see an optimistic increase. Dongbei said that the off-season in the fourth quarter of last year has passed, and the annual revenue growth cycle will restart from the first quarter of 2014. Lighting orders have banned traditional 40W and 60W incandescent bulbs in Europe and the United States. At the same time, lighting products have obtained the "Energy Star" Star)" certification and policy subsidies have stimulated order demand; European and American TV brand customers have also started to place orders in advance before the Lunar New Year in response to new product stocking needs. It is estimated that LED output value will reach 20% driven by positive demand for both lighting and backlight dual-spindle products. The above quarterly growth rate.
Anna
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