An optoelectronic: ESOP show confidence, strong growth in chip business

930 million employee stock ownership plan highlights long-term confidence

Three new announcement to set up public Xin No. 1 collection plan, share up to 930 million copies, according to the ratio of 2:1 to set up priority and secondary share, the secondary share from three employees full subscription, a total of nearly 310 million yuan (accounting for 21% of executives), won 7.4% first priority share rate of return. Collection plan will be completed within 6 months after the adoption of the general meeting of the shareholders of the market through the purchase of the two market, the lock up period of 1 years, the planned duration of the period of 3 years. In accordance with the upper limit of 930 million and 14.16 yuan price estimates, stock ownership plan of about 65 million 680 thousand shares, accounting for 2.74% of the total share capital of an existing company. We believe that the three launched more leverage ESOP in low price, reflects the long-term confidence in the company and the staff.

The chip boom is still strong three accelerate towards the global leader

Because the lighting demand blowout, the chip industry continues to enjoy the amount of price elasticity, manufacturers profit growth than revenue growth is more obvious, at the same time we learned research chip manufacturers order visibility generally seen after October, short-term industry fundamentals remain strong, and enter the next year although there are some new supply, but for the entire industry capacity for its growth rate is still controllable. Three, the leading position has no doubt, while the first half chip overseas sales increased 344% year-on-year, also shows that the chip overseas sales barriers are gradually eliminated, the chip business space increased by more than 1 times. We believe that the international leading position three chip will be gradually established in the next few years.

LED application business model to establish power semiconductor business to expand the growth space

Lighting products, this year three not only in the Fujian region frequently gains, but also to the country and the overseas market expansion, is expected to confirm the annual income of more than 1 billion. Strategic cooperation with Energy Service Companies and terminal manufacturers model has been formed. Power semiconductor business is expected to contribute revenue from the second half. According to IMS forecasts, GaN, SiC devices market is expected to grow to $20-30 billion in the next 5 years, gradually approaching the LED chip market capacity. The business will expand the market space for three.

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