Four LED listed companies performance forecast

Small spacing product revenue Zengzhou 2014 net profit doubled pre Ming drama

Chau Ming Technology (300232.SZ) January 15th released results notice in 2014. Notice that the company from January 1, 2014 to December 31, 2014 earnings is expected to reach 60 million yuan - $66 million, an increase of 81.97%-100.17% over the same period last year.

Chau Ming Technology said that the main reason for 2014 year company to enhance the performance of the company in the field of export, small space planning has been actively implemented, the company's overall sales revenue is greatly increased compared to the same period last year, UTV small pitch products orders and revenues have achieved rapid growth, among them, UTV series of products for export revenue gap over the same period last year increased by about 260%. On the other hand, with the company in the field of lighting in-depth implementation of strategic deployment, the company's business orders, lighting manufacturing strength than before has greatly improved, to achieve revenue growth, related expenses decreased.

Jufei 2014 yejiyuzeng 30%-45%

Poly fly Optoelectronics (300303) January 16th evening released annual results notice, the company expects net profit attributable to shareholders of Listed Companies in the year 2014 to 170 million 216 thousand and 400 yuan -18985.68 million, an increase of 30%-45% over the same period last year.

Poly fly optoelectronics, said the reasons for changes in performance during the reporting period, the company's business showed a good momentum of development, the company achieved rapid growth in sales revenue while bringing rapid growth in net profit.

Hezonglianheng, a large LED crystal 2015 camp watch by 20%

LED epitaxial / chip manufacturers in the fourth quarter of 2014, due to the impact of the low season, revenue continued to fall, but last year, revenue estimates are still more than 20%, EPS estimated nearly NT $(the same below). With the completion of merger and canyuan, plus the fastest in March will complete the acquisition of 94% stake in Taiwan semiconductor solid-state lighting, forecast 2015 revenue is expected to increase to more than 20% children. However, considering the initial adjustment costs associated with the merger and the merger appears to take time to reflect the benefits, earnings to be observed.

Crystal power for Taiwan LED epitaxial / chip leading suppliers, but also for the global LED chip manufacturers. At present, the products are widely used in the field of panel backlight, lighting, LED billboards, and other niche applications.

Through a number of mergers and strategic alliances, crystal power in recent years, the size of the operation gradually. In the second half of 2014 by the impact of customer orders to adjust the backlight, the monthly revenue from January to December in July, the first quarter of the fourth quarter revenue is expected to decline by more than 30%. But because the four yuan product utilization rate stability, HB full capacity, coupled with the TV backlight to release the urgent customer inventory, leading to the December camp back rose to 2 billion 28 million yuan (about 394 million yuan), the monthly increase of 14.55%, the annual increase of 0.9%. Therefore, the fourth quarter revenue only 25% quarter, better than expected, the annual revenue is still up by more than 20% last year, since 2012, for the past third consecutive years of revenue growth.

In 2015, due to crystal electric and canyuan has completed the merger on December 30, 2014, and in January 9th this year announced to 825 million yuan (equivalent to approximately RMB 160 million yuan) acquisition of TSMC and its subsidiaries held by TSMC Taiwan semiconductor solid-state lighting light 94% stake, is expected in March this year to complete the transaction.

The 2015 annual revenue will be estimated to grow more than last year, more than 20%, the opportunity to challenge the $32 billion (equivalent to about RMB 6 billion 221 million yuan). However, in terms of profitability, due to Taiwan's solid state lighting main technical barriers to the silicon substrate LED is yet to be broken, so far still a loss, after the merger of crystal electricity may cause a temporary negative impact. In addition, the combined capital to expand to 11 billion yuan (about 2 billion 157 million yuan), the overall efficiency of merger with initial and related personnel organization adjustment cost, also need time to brew to appear, can make a profit this year than last year, remains to be seen.

As for short-term revenue, in the TV backlight and lighting the urgent demand for support in January this year, the blue LED capacity utilization has the opportunity to rise slightly to more than 60%, four yuan LED shipment is expected to remain stable, which also contributes to the January revenue growth. February Lunar New Year holiday due to the impact of fewer days of work, revenue may decline. With the timing into the large size backlight season, March will increase the temperature. Overall first quarter revenues of more than 7 billion yuan (equivalent to about RMB 1 billion 373 million yuan), the quarter increased by 20%-25%, the annual increase of 10%-20%.

Billion light in 2014 profit increased by 50%

LED packaging manufacturers to light billion (2014) in the fourth quarter is off-season, revenue effect of cooling, but outside the industry recognized exchange gains, chugu single season still reached 1.3-1.4 yuan per share (NT, the same below), 2014 profit estimate the annual increase of 5, earnings per share 5.1-5.3 yuan. Expected in the first quarter of this year (2015) under the influence of the off-season, revenue may be reduced by less than 1 or less, but EPS is expected to remain above $1. With lighting, backlighting, billboards and other applications balanced growth in the second quarter is expected to pick up.

Billion light for LED packaging manufacturers, the company headquarters is located in the woods, and assembly line production base located in Taiwan, Tucheng court, and Suzhou, and Guangzhou, and held by crystal electric (2.1%) and (9.6%) Taigu equity LED grain supply and maintain the upstream vertical integration. Business locations in mainland China, Taiwan, Hongkong, Japan, Korea, Singapore, Malaysia, India, Germany, Sweden, the United States, canada.

In recent years, a variety of product portfolio, including visible light (lighting LED, COB integrated package LED, flash LED, car components LED, Lamp plug-in LED, SMD surface adhesion / table stick LED, digital display LED