LED lighting module manufacturer Li Qing self-contained consolidated revenue of 375 million yuan in New Zealand in June (the new Taiwan dollar, the same below), a significant increase of more than 20% compared with the previous month, and an annual increase of 67%, for three consecutive months to return to the annual growth trend, In the second quarter, revenue was 1.024 billion yuan, which was also slightly higher than that of the previous quarter. However, since Li Qing’s orders were all from the mainland domestic market, the legal person estimated that the second quarter of the yuan will be unfavorable to the company’s exchange gains and losses, single-quarter profit. Will be under pressure. However, Li Qing stressed that although the mainland car market is slower this year, but the optimistic penetration of LED lights, the company's revenue is still expected to maintain better momentum, driven by revenue growth, the annual profit is still expected to grow.
Liqing's June revenue surged, mainly reflecting the three major customers - Huayu Vision Technology, Great Wall Motor, and Da Mao Wei Rui Ke, continuing to increase the supply capacity of LED lamp module products, driving the overall shipments with the introduction of new cars. LED lights have expanded from high-end models to general car penetration rates, and revenues in the second quarter of this year have reached a new high in the same period.
Liqing statistics, the current Huatian orders accounted for 35% of the company's revenue, the Great Wall accounted for 25%, and Da Mao Wei Rui Ke accounted for 10%. In the second half of this year, it is expected that the orders of the three major customers will still have momentum, and the annual revenue will continue to rise.
However, Li Qing also admitted that in order to accelerate the penetration performance of headlights and fog lamps, and in response to new orders from major customers such as Huayu Vision Technology and Da Mao Wei Rui Ke in the second half of the year, the company increased the replacement of new and old products in the second quarter. The progress will have a slight impact on the operation in the short term. At the same time, the depreciation of the RMB will also interfere with the exchange gains and losses of the single quarter.
However, in the second half of the year, Li Qing stressed that the peak season of the mainland auto market and the efficiency of LED penetration will gradually emerge. Together with the adjustment of the company's new and old products, the new orders will be shipped in the second half of the year, for the next two seasons. The profitability of the operation will grow with confidence.
The legal person estimates that in the second quarter of Liqing, under the exchange rate and adjustment factors, the single-season EPS will be lower than the first quarter. In the first half of the year, the EPS will be flat or lower than the same period of last year, about 1.5 yuan; but in the second half of the year, Liqing still has Opportunities are higher and challenge a new record for a single month. The annual revenue is still expected to increase by 1% to 20%, and EPS is still expected to challenge 4 yuan.
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