Taiwan electronics industry continued off-season foundry companies optimistic about the prospects for LED

From the beginning of 13, all listed companies in Taiwan should be consolidated revenue data announcement, non consolidated revenue data is no longer published. Therefore, we will make appropriate adjustments to the report, some companies have changed the caliber of statistics, and no reference value of the chain data is no longer listed, but does not affect the overall trend of the industry analysis and judgment.

January, the industry off-season effect is obvious, the overall performance of the general revenue of Taiwan electronics industry. Despite the arrival of the traditional Chinese Spring Festival of electronic goods procurement season, but limited to the tablet PC, smart machines and other demand squeeze, Europe and the United States have also entered the NB sales season, Taiwan foundry business revenue downturn. The six generation factory (Foxconn, quanta, Wistron, Pegatron, Inventec, Ren Bao) to achieve a total consolidated revenue of NT $616 billion 570 million. Hon Hai Group consolidated revenue reached 313 billion 530 million yuan NT in January, the chain fell significantly.

Wafer foundry leading TSMC announced revenue in January, consolidated revenue of NT $37 billion 110 million yuan, an increase of 27.8%, an increase of 37.2%. At present, foreign chips have been the first to start pre built new inventory, Taiwan IC design industry after the Spring Festival will quickly take over. Foundry industry in the first quarter is expected to ignore the off-season effect, showing a sufficient energy recovery boom. Looking ahead, the company's growth momentum for 13 years unabated.

Apple to determine the trend of Samsung, TSMC next year Apple orders larger growth space.

Touch panel module Chen Hung January consolidated revenue reached NT $19 billion 770 million, a decline of 11.6%, an increase of 39%. Shenghua, January consolidated revenues of 7 billion 350 million yuan, an increase of 4.8%, down 17.3%. In 2013 in the face of large size demand sharply off, Chen Hung is also actively expanding production capacity, including the subsidiary of Hong Building a new factory 4.5 generation line in Taichung, recently announced the expansion of the new production line, chemical enhanced glass Fujian 5.5 generation line of new plant will contribute to the continued TPK leading the industry, consolidate the leading position of city. The recent market supply chain broke, in a thin trend, Apple has developed the next generation of iPad models will also abandon the double-sided glass G/G touch panel technology, will follow the higher order structure of G/F2 thin films using iPadmini touch technology, and toward the exterior design without borders, is expected in the second half is expected to enter mass production, in order to conclude that time to market is expected to fall in the third quarter. But Apple has not confirmed this statement.

January Taiwan LED industry to continue the industry off-season. LED chip leading plant crystal electricity January consolidated revenues of 1 billion 350 million yuan, an increase of 25.9%. Crystal electricity optimistic outlook for the future of the economy, before the Chinese new year, some TV backlight orders rebounded significantly, is expected in March results can be significantly higher. According to the disclosure of crystal electricity, non consolidated revenue in January also achieved growth in the chain, indicating that the booming demand is picking up from the bottom. Crystal electric also said that although the February Spring Festival affected shipments, but the single good performance, and higher order LED chip demand is more prosperous, capacity utilization reached about 7.

January optical performance side. Taiwan four big shot / total revenue in Asia, Largan optical lens manufacturers, jade, this Jingguang Guoguang was 4 billion 960 million yuan, a decline of 15%, an increase of 35%.

The Largan achieved revenues of 2 billion 240 million yuan, a decline of 29%.

We maintain last month's view that more attention needs to be paid to structural opportunities, it is recommended to focus on intelligent machines, tablet PCs, optical device industry investment opportunities. Risk warning: the lower reaches of the risk of less than expected risk.