Advanced Facilities Efficient ProductionDue to the reduction in working days and the lack of wafers from customers, Guanghua, an automotive interior company, caused EPS to be 1.37 yuan (NTD, the same below) in the first quarter of this year, a quarterly decrease of nearly 40%.
Looking ahead to the second quarter to the fourth quarter, the company said that due to the continued shortage of chips, the performance of the second quarter is expected to be hindered. However, as the shortage of materials in June gradually eases, and customers are also expected to speed up work, the performance in the second half of the year is expected to gradually increase. The season returns to warm.
However, the company said that with TSMC’s announcement of an increase in automotive chip production capacity from June, other supplies such as Japan’s Renesas and Texas Instruments have gradually stabilized. According to supply chain information, the shortage of materials is expected to ease after June, and many customers have indicated that they will speed up work, hoping to make up for previously affected orders. Therefore, the company is optimistic that the ability to pull goods with customers will become stronger in the second half of the year, and operations are expected to increase quarter by quarter.
The legal person estimates that Guanghua’s revenue in the fourth quarter of this year is expected to return to more than 2 billion yuan, and it is understood that as long as Guanghua’s revenue level exceeds 1.8 billion yuan, the gross profit rate can return to the high-end level of 25%. For the whole year, due to the low base period last year and the rebound in orders in the second half of the year, overall revenue and profit are still expected to grow by double-digit percentages compared to last year.
It is worth noting that Guanghua is actively developing new businesses and revealed that in recent years, it has gradually achieved results in the MiniLED car light layout. The company pointed out that by cooperating with a strategic partner responsible for MiniLED wafer cutting, packaging, and testing, combined with the company's own patented technology for in-mold injection molding surface decoration for many years, the final car lights can show more diverse and accurate colors. ; In addition, the overall production cost is also significantly lower than traditional LED lights.
Guanghua is optimistic that with the advent of the new energy vehicle trend, the market penetration rate of MiniLED lights will gradually increase, and the company can expect to receive orders based on certain competitive advantages. It is understood that in the promotion of new products, in the short term, the company will first focus on the small-scale lighting market for its own brand customers. It is expected to start shipping next year. Most of the joint venture brand customers are still in the vehicle certification stage. It is expected that there will be more in the next year. Opportunities are heavy.