Baihong's invisible led demand is strong, Q2 revenue is expected to increase by double digits

Since the beginning of this year, LED packaging factory Baihong has benefited from the growth of orders for invisible light products and the rising proportion of niche application products. Following the first quarter profit, it has achieved the best performance in the same period in nearly 10 years. It is preliminarily estimated that the revenue in the second quarter is still better than that in the first quarter and the same period last year, and the profit in the first half of this year may double year on year.

Looking forward to the second half of the year, Baihong expects that this year's revenue will have a chance to resume double-digit growth. It is estimated that the proportion of revenue in the first and second half of the year is about 45 to 55. At the same time, demand for related products, including laptops and home appliances, is expected to remain stable

At present, invisible light products account for more than 50% of Baihong's revenue, and visible light products account for about 40%. A small amount of revenue comes from project bidding and other products. In recent years, the company has been actively developing towards the multi niche application market. In addition to the original consumer electronics, home appliances, aviation lighting, security control, indicator lights / signals, the company has successively cut into new technology products such as automatic mechanical parts, UV related products and special wavelength LED packaging.

In the first quarter of this year, Baihong's revenue was 336 million yuan (New Taiwan dollars, the same below), decreased by 10.97% in the quarter, but increased by 26.11% in the year. Its gross profit margin stood at 31.9% and reached a new high in more than 10 years. It was mainly due to the improvement of cost structure and product portfolio. The industry turned into profit on a year-on-year basis, with net profit after tax of 47 million yuan and earnings per share of 0.28 yuan, an annual increase of 13 times.

Since the second quarter, the revenue has increased first and then decreased. The accumulated revenue in the first five months is 630 million yuan, with an annual increase of 24.65%. It is estimated that the revenue in the second quarter is more than 400 million yuan, with a possible double-digit increase in the quarter and an annual increase of more than 20%. If there is no accident, profits in the first half of the year are expected to double compared with the same period last year.