This year, the situation is not clear in the second half of the profit?

LED epitaxial wafer / Dachang crystal electric this year is due to the combination of canyuan capacity, but by the backlight demand, LED decline, display momentum weakened, the first 5 months of revenue minus 0.4% years. Estimated profit in the first half may be lower than the same period last year. Expected in the traditional season of support, the third quarter has the opportunity to moderate warming, but also observe the profit performance of product portfolio and gross margin rebound, and canyuan whether turnaround.

The crystal is LED /, Taiwan, Miaoli, Changzhou, Shenzhen and Xiamen. Product applications in the panel backlight, lighting, LED billboards, as well as automotive lighting and other niche applications market. Recently, the growth of the lighting market is relatively strong, the proportion of this year's estimated nearly of the proportion of lighting, TV backlight proportion of more than 2 estimates, the proportion of mobile phones, displays, automotive and other applications were nearly 10%-15%.

After a number of mergers and strategic alliances, crystal electricity in recent years, the size of the operation gradually. In 2012, affected by the industrial restructuring and Chinese, price competition has a loss, but in 2013 profit, although the second half of 2014 due to customer regulation results in busy season back, but in the industry earnings inject, profit is still better than the first half of the year, the annual EPS reached near 4 year high level.

Originally expected in 2015, after the merger amplification in canyuan capacity, should contribute to the orders and revenue scale accelerate the increase, but affected by weak demand, LED backlight display, LED decline slowed kinetic energy and other factors, the first quarter of this year, revenue is only 6.5% annual growth, coupled with changes in product mix, four yuan LED decreased the proportion of gross margin also fell, industry profit decline, in the industry with the acquisition of ECB evaluation benefit Taiwan semiconductor solid-state lighting revenue inject nearly 1 billion yuan (NT, the same below), a surplus of 0.74 yuan per share before. Although the lighting orders rose in April revenue rebounded in May revenue fell. Exclusion of industry factors that return to the industry, the second quarter earnings may be lower than the first quarter.

The company is actively adjusting the renewal of old machine, improve the efficiency of target, completed more than 80% machine adjustment at the end of June this year, the biggest canyuan in the second half turnaround. Although the third quarter will enter the traditional peak season, but this year the situation is unknown, many corporate estimated crystal electric revenue in the third quarter only moderate growth, compared with the previous quarter profit or Xiaozeng. 2015 revenue to seek a stable profit may be lower than last year.

Crystal electric revenues of 6 billion 650 million yuan in the first quarter of this year, quarter by about 16%, the annual increase of 6.5%, operating profit, industry small profit 21 million yuan, plus interest and ECB industry evaluation of Taiwan semiconductor solid-state lighting total investment of nearly 1 billion yuan acquisition of the interests, caused by the first quarter after tax net profit of 700 million yuan, the quarter increased 7.7 times, up to 0.74 yuan EPS.

Following the April this year, the camp back up to 2 billion 580 million yuan, in May revenue fell to $2 billion 270 million, minus about $12%, an annual reduction of up to 18.8%, the cumulative total revenue of about $11 billion 498 million in the first 5 months, compared with the same period last year, a decline of. Estimated second quarter revenue of nearly $7 billion, an increase of 1 quarter estimate, the annual reduction of 10%-15%. Exclude the factors outside the industry return to the industry, estimated that second quarter profit lower than the previous quarter, total 1 yuan in the first half of EPS.

The estimated third quarter revenue may rise, profits will observe canyuan / capacity utilization rate adjustment, and product portfolio on gross margin. Estimated 2015 revenue remains flat, but due to the second half of the situation is unknown, the legal view of profit for the second half conservative, full year EPS estimate 1-1.5 yuan, may be lower than last year.

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