Zhuangong niche product application, the East Bay Baihong announced a quarterly

Recently, Taiwan factory of Dongbei photoelectric and Baihong announced first quarter performance, infodisc turnaround, but due to the off-season effect, Baihong Street reduction, first quarter revenue attenuation.

Dongbei photoelectric losses for two consecutive years, adjust the structure of customers, backlight applications focused on the international line Dell (DELL) NB customers, to the development of high value-added lighting lamps, healthy, intelligent applications, the first quarter of this year the successful turnaround, single quarter after tax earnings of 37 million 290 thousand yuan (NT, the same below), earnings per share 0.1 Yuan. East Bay began to adjust the structure of backlight products customers since 2016, exit, white card market, to the development of TV, NB, LED, mobile phone brand customers, factory in the past few years have a patent war, brand factory in parts procurement takes more and more attention to the patent, relationship between the client and the more close and the proportion of total revenue of about backlight 60-65%.

Lighting products, the mainland price war time last year finishing lighting business, the low order lighting cut does not make money orders, to the development of high value-added lamps, healthy, intelligent applications, Toshiba lighting brand licensing, have good gains in the European market, the main customers to adjust lighting cooperation items, turn to high Order lamp based lighting, the proportion of revenues by 30-35% last year, this year rose to 40-45%.

LED packaging factory Pak hung in the first quarter of this year fell to 403 million yuan in revenue, quarter by 14%, the annual reduction of 12%, affected mainly by industry off-season, lunar new year and the same period last year base period high street. The expected standard case in the street to reduce the impact of revenue this year, may be better than last year, but aviation lighting and sweeping robot infrared sensing module, the application of product order and stability, coupled with the mainland gaohui profit improvement, there may be room for improvement in gross margin, profit or stability.

Baihong in recent years continued to adjust the product mix, the overall operation tends to be stable. Following the 2016 earnings per share 0.9 yuan, a record high of 5 years, 0.8 yuan per share cash dividend payout, 2017 annual revenue by 9%, but the gross margin increased to 23.8%, EPS to 1.12 yuan, a record high of nearly 7 years.

This year, with the number of working days recovery, niche applications new product shipments, the expected second quarter revenue is expected to increase over the first quarter of two digit range, at the beginning of the second half is expected to remain stable, and estimate the first half of similar or slightly. But due to the same period last year Street standard case in large scale, this year that revenue growth is not easy.

This is not because the company target sprint revenue, but will maintain steady profit, choosing single production strategies may therefore, further optimize the product mix, to improve gross margin. In addition, high brightness blue LED, to four yuan out of LED production, contribute to the overall improvement in profit and loss.

The main products for the LED packaging products and Baihong module, lighting and so on, among them, Lamp LED, SMD LED 10%-15% about the proportion of the proportion of about 35%, the proportion of infrared is about 40%-45%, about 1 the proportion of public works. The application point of view, aviation (aircraft cabin lighting) a proportion of about 1 into, including sweeping robot sensing module, wearable products niche applications accounted for more than 6, street lighting maintenance project into about 1.

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