Affected by factors such as oversupply and the rapid decline in prices of LED backlight panel related products, the LED industry has recently been revised. LED epitaxial wafers, Jingyuan Optoelectronics, fell to 1.66 billion yuan in November this year, and even after the decline in March, it is expected that there will be a low point in December revenue, which may test the water level of 1.6 billion yuan. Since the traditional off-season has not been taken off in January next year, and in February, it coincides with the Lunar New Year (the number of working days is reduced). According to the company, the fastest increase in performance in March-April 2011. The legal person estimates that Jingdian's revenue in the fourth quarter of this year is estimated to be about 5 billion yuan, a quarterly decrease of 10%-15%. The revenue for the first quarter of next year is estimated to be nearly 4.8 billion yuan, and will still be reduced by about 5%.
However, in spite of the low temperature in the short term, there are still many positive factors in the development of crystal power in the long run. Foreign-funded brokers believe that even if the price pressure of LED backlight products will continue in 2011, Jingdian continues to expand its lighting business, and has gradually got rid of the low-margin backlight product portfolio, coupled with better pricing ability, expected to suffer The negative impact may be small.
In addition, Jingdian's recent expansion of cooperation with Japan's LED manufacturer ToyotaGosei will also help Jingdian to obtain a broader market business and provide a good business platform for the long-term growth of Jingdian. As for Jingdian's joint venture with China Electronic Information Industry Group to form a new company, it will also add long-term positive theme to the operation of Jingdian in the next few years.
However, in the short-term, it is affected by the traditional off-season, and the demand for LCD TV backlights has not yet rebounded strongly. The customer’s year-end inventory, after the revenue of Crystal Power in November this year fell to 1.66 billion yuan, after three consecutive months of temperature loss, the legal person estimates In the December, Jingdian’s revenue will still have a low point, which may be down to 1.6 billion yuan and less than 5% per month, but the annual increase is still over 20%. The overall fourth quarter revenue reached 5 billion yuan, a decrease of 10% -15% compared with the previous season.
In terms of profit, the market expects that the gross profit margin of Jingdian in the fourth quarter of 2010 will also be affected by the decline in capacity utilization rate and product price decline, and will fall below 35%, which will reduce the single-season profit in the fourth quarter to 1.5 billion. yuan. Based on the current share capital of about 8.475 billion yuan, the fourth quarter earnings per share is about 1.7 yuan, compared with the previous quarter's earnings per share more than 2 yuan. The annual profit was estimated at 6.1 billion yuan, and the earnings per share was estimated at 7 yuan.
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