China's energy-saving subsidies come to an end Taiwan's LED chip factory Q3 all lost

As the mainland's last round of energy-saving subsidy policy came to an end, and the LED backlight penetration rate approached saturation, resulting in oversupply of chip capacity, the LED industry last quarter's earnings report was thin and fat, the top five chip factories in the upstream all paid a loss report, and the packaging plant was generally Better than the chip factory, Everlight earned a new high in the first quarter of the season, and the first three quarters profit and earnings per share.

LED chips are still in the stage of oversupply, ASP continues to fall, and crystal power is expected to see a balance between supply and demand in the second quarter of next year. The third season coincides with the end of the mainland energy conservation subsidy policy, impacting the performance of the chip factory last quarter. Chip factories such as Electric, Yuyuan, Dingyuan, Huashang, and New Century all fell into losses.

From the perspective of gross profit margin, the gross loss rate of Huayuan and Huashang reached 20.68% and 60.35%, and the loss in the single quarter was 435 million yuan (NTD, the same below). The net loss per share after tax was 0.91 yuan. The loss was 901 million yuan, and the net loss per share was 1.89 yuan. The above was due to the rectification period, resulting in a loss of 76.33 million yuan in the previous quarter, a loss of 316 million yuan in the first three quarters, and a net loss of 1.17 yuan per share after tax.

In the last quarter, Jingdian received more than 300 million yuan of financial liabilities to evaluate losses, resulting in a loss of earnings from profit to profit. In the first three quarters, only a small profit of $14 million was earned. The net profit per share was 0.02 yuan after tax, which was in the first three quarters. The only profitable chip factory, gross margin of 16.09% is also ahead of all chip factories.

LED packaging factory performance is mostly better than the wafer factory, in which billion light profit last quarter reached 497 million yuan, the profit rate increased by 29.4%, the annual growth rate was as high as 102%, in addition to the LED lighting penetration rate slowly increased In addition, Yiguang began to recognize the revenue of the street lamp and the revenue of the German lighting factory WOFI, which caused the revenue to rise on a large scale. The main reason is that in the first three quarters of this year, Yiguang gained 1.103 billion yuan. It has far surpassed last year's full-year profit, with a net profit after tax of 2.63 yuan per share, which is also the highest in the industry.

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