Ding Yuan end of 3 consecutive years of losses of $2014 earnings per share is expected to reach $1

LED chip processing, solar module manufacturers Ding Yuan in the second quarter of this year to benefit from the LED heating demand, single quarter revenue to 1 billion 430 million yuan (NT, the same below, about 292 million yuan RMB), quarter by 10%, by more than 6 years, the solar module is also small to earn, earn 0.25 yuan per share a single quarter, the first half of the cumulative total EPS about 0.48 yuan. At present the company for the third quarter view is still positive, steady revenue forecast in the third quarter 1 billion 400 million yuan (about 286 million yuan), compared with the previous quarter. This year EPS or 0.9-1 yuan.

Ding Yuan was founded in 1987, the early focus on LED chip processing, 2006 ITS products will be under the cut case, responsible for the production of solar modules for the establishment of business top crystal technology, then cut into the upstream of the LED epitaxial wafer and chip production, but it is facing the adjustment of industrial structure, resulting in LED operating at a low ebb. 2011, in 2012 the loss of 0.48 yuan per share, respectively, $1.98, a loss of up to $2.75 per share in 2013.

At present, the two sources of revenue are the LED chip and solar modules (Ding Jing), respectively, the proportion of revenue in the first half of this year was about 6, into 4. Among them, the LED chip business ended in 2013, upstream of the LED epitaxial wafer and the LED back to the old middle chip processing services, plus solar module operation tends to be stable, so the company has been in the first quarter of 2014 turnaround.

Benefit from the LED backlight and lighting applications with the increase in revenue in the second quarter of this year, the recovery of this year, coupled with the solar module business to maintain a small profit situation, the initial assessment of the second quarter is still profitable. Despite the recent solar industry negative news reports, however, Ding Yuan believes that by July, solar module is still not the cause of puerile loss. As for the third quarter of LED career should be expected to enter the traditional peak season.

Ding Yuan in the first quarter of this year revenue reached 1 billion 295 million yuan (about 264 million yuan), the annual increase of nearly 68%, operating profit of 77 million yuan (about 15 million 714 thousand yuan), after tax net profit of 81 million yuan (about 16 million 530 thousand yuan), earnings per share of 0.23 yuan. This year the second quarter revenue to 1 billion 430 million yuan (about 292 million yuan), quarter by 10%, by more than 6 years, the gross profit margin increased to 16%, operating profit of 126 million yuan (about 26 million yuan), after tax net profit of 8900 yuan (about 18 million 163 thousand yuan), better than the first quarter, single season earnings per share of about 0.25 yuan. Cumulative earnings per share in the first half of nearly 0.48 yuan.

Revenue is expected in the third quarter of this year, the opportunity to maintain a profit of about $1 billion 400 million (about RMB 286 million yuan) water level, roughly flat with the previous quarter, quarterly estimates continued to earn. 2014 full year earnings per share have the opportunity to reach 0.9-1 yuan level, ending 3 consecutive years of losses from 2011 to 2013, and may be the best profit performance since nearly 7 years since 2008.

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