Accumulating profit-seeking products, the legal person expects that the second quarter revenue is expected to increase double-digit growth year-on-year, but in June due to customer inventory water level adjustment, compared with May revenue, the gross profit margin is also expected Maintaining the water level in the first quarter is expected to be better than the same period last year. For the whole year, the legal person believes that due to the higher base period in the second quarter, the third quarter will first see the stable second season water level. The annual revenue will have double-digit growth space compared to last year, but the gross profit margin in the second half of the year is still observed continuously. One of the priorities, profitable is better than last year.
Accumulated into an IC design company, the products are mainly LED driver ICs, and the application side is mainly display screens. Other applications include architectural lighting, TV backlighting and general lighting. According to the proportion of revenue in each product line in the first quarter, the standard type is 25~30%, and the niche type (multi-channel and high-order integrated type) is 65~70%. Accumulation ranks first in the global market share of small-pitch LED display driver ICs, accounting for about 60%.
Accumulation has the position and technical advantage of the small-pitch market. As far as the current niche-type IC shipments are concerned, it is still dominated by the 16-channel 5153. This year, international manufacturers gradually transferred to the car to make the demand for 48-channel LED driver ICs. Transfer to Taiwan, the accumulation is also expected to benefit, 48-channel products include 5353, 5359 two, the company's annual target shipments increased by 3 to 5%.
In the face of this year's market, the accumulation of optimistic demand for small-pitch display driver ICs is booming. Due to the wide range of applications, driven by the demand for high-quality images, the application faces are concerts, conferences, cinemas, etc., which will drive high-end. Shipments of integrated ICs have gradually expanded.
The outside world has continued to pay attention to the accumulation of products in Mini LED and Micro LED. The accumulation shows that Mini LED will be shipped to mainland mobile phone manufacturers by the end of this year, but the actual cargo volume and contribution still need to be continuously observed. In terms of Micro LED, the accumulation shows that its product technology has been in place, but it still needs to observe the attitude of other supply chains. The market attitude may be clearer in the second half of next year.
Accumulation means that in terms of the client side, the overseas customers are growing strongly, and the demand of Korean and American customers is particularly strong. Since the Korean customers started cooperation at the beginning of this year, the customer's new-style cinema and original panels Both are driving demand, and the absolute amount of overseas customers is expected to increase by more than 40% in the first half of this year, and the kinetic energy will continue in the second half of the year.
In terms of vehicle use, the market for LED lights installed before the accumulation locks in, and the accumulation shows that due to the long and complicated certification period of the vehicle specifications, the products have passed the certification and are being sent to the end customers, but the actual contribution needs to be fermented next year. .
In the first quarter of the year, under the effect of the price-adjusting strategy of the benefit-based products and the standard IC price adjustment, the revenue was 684 million yuan (NTD, the same below), which was 12.16% higher than the 6.1 billion yuan in the same period last year. Gross profit margin reached 34.2%, and EPS was 1.29 yuan, which was better than last year's 0.81 yuan.
In the past, the accumulation of standard ICs was under pressure from competitors in mainland China. The previous gross profit margins remained at 20-30%, but this year, driven by factors such as product mix adjustments, strong overseas customers’ pulls, and the renminbi’s rise, this year The first quarter reached 34.2%, a new high in the past two years.
Looking forward to the second quarter, the legal person expects to continue the growth of the first quarter. The revenue is expected to increase double-digit growth year-on-year. However, due to the adjustment of customer inventory level in June, the revenue will be lower than that in May, and the gross profit margin will also be lower. Looking to maintain the water level in the first quarter, profit is expected to be better than the same period last year.
Looking forward to the whole year, the legal person believes that due to the higher base period in the second quarter, the third quarter will first see the second season water level, and the accumulation of small-span LED driver ICs will continue to be based on the continuous layout and technological advantages. There is double-digit growth space, but the gross profit margin in the second half of the year is still one of the key points of continuous observation, and profitability is better than last year.
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