Lighting demand back to the station LED large Q1 performance brisk

From the beginning of March, LED related listed companies have released 2014 earnings report or the first quarter of 2015. Finishing, LED plant performance, found that nearly 70% LED middle listed enterprises brisk performance, the 80% display of listed companies to make money, the downstream lighting application of enterprise's overall performance is not ideal, LED business listed companies cross-border LED increase in sapphire, MO source, rare earth materials, components, equipment or power supply business of listed companies huge losses. The performance of these enterprises to a certain extent reflects the development of China's current situation in the field, and the development trend of the global LED industry.

But in addition to the mainland LED plant, the performance of the Taiwan region LED companies can also reflect the status and trends of the global LED industry. The paper will analyze EPISTAR, Everlight, East Bay, Lunda enterprise to the first quarter of 2015 and the performance changes from 2014.

Taiwan LED industry is a relatively mature and perfect industrial chain, the paper analyzes the Taiwan EPISTAR, Everlight, Lunda, East Bay, new century, such as Ai Disen, Lite on technology LED listed companies from 2014 to 2015 first quarter results. The results show that: Taiwan LED listed companies from 2014 to 2015 in the first quarter generally performed well, the basic income of revenue growth, but by the main business profit growth is not ideal.

The upstream industry by income "dress up" performance

In 2014, EPISTAR revenues of NT $27 billion 710 million yuan (below), an increase of 24.6%; annual gross margin was 19%, an increase of 5.7%; the annual cumulative operating profit of $4 billion 610 million, pre tax profit of 4 billion 300 million yuan. 2015 first quarter revenue of 6 billion 650 million yuan, an increase of 6.5%, an increase of $16.3%, gross margin was $11.8%, representing a decrease of $3.4%. Although the industry's gross profit margin declined slightly, but still maintain revenue growth trend in the first quarter of 2015 operating profit of 20 million yuan, up to $885 million of external revenue.

Lextar 2014 annual revenue of 14 billion 520 million yuan, the annual increase of 5.6%. 2015 first quarter revenues of 3 billion 502 million yuan, an increase of 8.7%, an increase of quarter QoQ increase of 5.2%, operating margin was $15.3%, after tax net profit of $160 million. Lextar electronics said that due to the fourth quarter is the traditional off-season, quarter revenue decline, but in December revenue has picked up slightly. Backlight application of the new and old product transfer period, the new models are shipped in the first quarter of this year. Lighting applications are relatively brisk performance.

Midstream packaging Heng Da

LED packaging leading billion light 2014 revenue of 30 billion 600 million yuan, an increase of 23.99%, a record high. 2015 first quarter 7 billion 250 million yuan, an increase of 16.35% for the same period last year, a new high level, compared with the previous quarter decline of 11%.

LED packaging, lighting manufacturers in 2014 9 billion yuan annual camp, an increase of 27%. 2014 fourth quarter 2 billion 420 million yuan, an increase of 55% in December revenue fell to $664 million, but still an increase of 41%. In this regard, said the main East because of the demand from Europe and the United States to enlarge the lighting market, as well as smart phone backlight product growth. 2015 first quarter revenues of 2 billion 340 million, an increase of 22%.

Steady growth of downstream enterprises

2014 operating income was 2 billion 950 million yuan, gross profit of $380 million, gross margin of 12.72%, pre tax net profit of $62 million 330 thousand, net profit after tax of $42 million 960 thousand. 2015 first quarter revenues of 960 million yuan, an increase of up to 43.47%.

Lite on Technology in 2014 the global total revenues of 230 billion 600 million yuan, the annual growth rate of 8%. After tax net profit of 6 billion 460 million yuan. Gross profit margin and operating margin were 12.2% and 3.1%, respectively. Among them, the photoelectric sector accounted for the total annual revenue of 26% Lite, the overall revenue growth of 29% photoelectric. LED street lighting in the global demand for energy saving and the United States, the United States and the United States market shipment smoothly, at the same time, automotive lighting in the world's major automotive lighting customer demand growth; camera module in the production of high-end products.

Lite on technology first quarter of 2015 turnover of 51 billion 540 million yuan, sales gross margin and net operating rates were 12.5% and 3.3%, operating income of 1 billion 710 million yuan, and the annual season increases were 16% and 22%; the net profit of 1 billion 646 million yuan, with annual growth for the quarter increased 13% and 15% respectively. The photoelectric Department first quarter revenue accounted for 25% of total revenue from Lite; LED indoor and outdoor lighting, automotive lighting, consumer electronics and mobile device applications such as market demand, LED lighting products and components were stable; but by the camera module operation adjustment, the annual reduction of 7%.

The middle and upper reaches of the first line of good performance

Data show that the rapid increase in demand due to the TV LED backlight back to temperature and LED lighting market penetration, March main business revenue of LED enterprises in Taiwan have achieved rose, most enterprise growth of more than 10%, LED packaging companies East Bay is the chain grew by nearly 40%, the overall performance is better than the LED industry in February. March, LED industry ahead of the peak season, from sapphire substrate, LED crystal to the package's revenue will be fully recovered from the year in March, the utilization rate of crystal power rose to more than 80%.

Chen Zhengquan, general manager of the new century, pointed out that in March, LED Lei Liang plant operations are relatively weak, mainly television and mobile phones are in the new period of the transition period. However, the second quarter of the new century revenue will be significantly increased, is expected to increase by the quarter of 15%, mainly in the application of crystal gradually fermentation, in addition to mobile phone flash and backlight, but also began to apply to the automotive market.

Ronda said that currently contains the lighting and backlight orders were significantly advanced, is expected in the second quarter of operation will increase significantly, optimistic expectations by quarter revenue is expected to rise, the current order visibility about 1 - 2 months. Lextar optimistic expectations this year in the operation of a CREE shares, and said,