New Century Optoelectronics Co., Ltd. was established in 2002, mainly engaged in green LED epitaxial wafers, blue and green LED chips, lighting modules and system products. In the first three quarters of 2011, the new century realized operating income of NT$3.538 billion (about US$120 million), a year-on-year increase of 78%, much higher than the average growth rate of other LED upstream manufacturers in Taiwan.
First, product portfolio and sales area
The products of the new century mainly include green LED, blue LED and ultraviolet LED. Among them, the shipment form of green LED is mainly epitaxial wafer. The main customers are Shilan Mingxin and Wuhan Huacan; the shipment of blue LED The form is mainly chip. It was mainly applied to small and medium-sized backlights and lighting products before the fourth quarter of 2009. After the fourth quarter of 2009, with the improvement of product brightness, blue LED chips are gradually applied to medium and large size backlights. In the second quarter of the year, it began to enter the field of TV backlights.
The main production bases in the new century are located in Tainan, Taiwan, Dongguan, Guangdong and Kunshan, Jiangsu. The customers are all over the world, but mainly in the Asian, Japanese, Taiwanese and Korean markets, because the application fields of the new century are based on display screens and backlights. The main, and the mainland is the world's largest display production site, with annual output exceeding 70% of global production. Demand for LEDs for display screens is strong. Japan and South Korea are the world's leading producers of LCD TVs and display screens. There is a big demand.
Second, operating income and profits
1. Operating income
In 2009, the sales and discounts of sales in the new century increased by 4 times to NT$140 million from NT$27.01 million in 2008. Coupled with the extended payment cycle of customers, the loss of bad debts in the new century was greatly increased, and the company’s The Blu-ray chip has still not been widely used in the large and medium-sized backlight field, resulting in a serious decline in operating income in the new century in 2009 and a loss in net profit.
In 2010, the Japanese government introduced a lighting subsidy policy to boost the sales of LEDs in Japan, which made the development of the Japanese lighting market in the new century begin to show results. In addition, it obtained the certification of large-size backlight manufacturers in the first quarter, and promoted the expansion of products in the new century. The number of MOCVDs has increased from 26 to 55, and the monthly production capacity of epitaxial wafers has increased from 22,000 to 31,000. The monthly capacity of chips has increased from 317 KK to 700 KK. With the release of production capacity and the improvement of chip luminous efficiency, the performance of the new century grew rapidly in 2010, with a year-on-year increase of 176%.
In 2011, the new century plans to expand the number of MOCVD to 65 units. In the first three quarters, the new century has achieved operating income of NT$3.54 billion, a year-on-year increase of 78%, which is higher than other Taiwan epitaxial wafer and chip manufacturers. Looking forward to 2012, in addition to the growth of display and backlight business in the new century, the lighting business will become the company's new growth momentum.
Figure 1 Business revenue of the new century in the first three quarters of 2006-2011
2. Profit rate situation
The gross profit margin in the new century is at the leading level in the industry because its green epitaxial wafer is a customized product with a higher gross margin than the chip. In recent years, the gross profit margin of Taiwan's upstream manufacturers has experienced large fluctuations. In 2009, the gross profit margin of the new century has plunged sharply, while the gross profit margin of Jingdian and Yuanyuan has been increasing, mainly because of the crystal power and ç’¨ in 2009. Thanks to the demand for Samsung LED TV orders, the capacity utilization rate is high, and the proportion of products with low gross profit margin is reduced. In the same period, the products of the new century can only be applied to small and medium-sized backlights with low gross profit margin, resulting in new 2009. Century gross margin fell sharply by 28%. In 2010, the TV chips for the new century began to be shipped in volume in the second quarter. In addition, lighting products entered the Japanese market, driving their revenue and gross profit margin to rebound rapidly.
In 2011, under the circumstances that the global manufacturers expanded their production significantly and the demand was much smaller than expected, the LED chips showed a period of over-capacity, and the price dropped sharply. The capacity utilization rates of major manufacturers all declined to varying degrees, which made it difficult to maintain high gross profit. Looking forward to 2012, LED demand will continue to grow rapidly and the price will continue to decline. It is difficult to change the lighting products of its own brand in the new century. In the initial stage of promotion, it will invest a lot of money, and its gross profit margin will face greater pressure to recover.
Figure 2 Changes in the gross profit margin of the new century and competitors
First, product portfolio and sales area
The products of the new century mainly include green LED, blue LED and ultraviolet LED. Among them, the shipment form of green LED is mainly epitaxial wafer. The main customers are Shilan Mingxin and Wuhan Huacan; the shipment of blue LED The form is mainly chip. It was mainly applied to small and medium-sized backlights and lighting products before the fourth quarter of 2009. After the fourth quarter of 2009, with the improvement of product brightness, blue LED chips are gradually applied to medium and large size backlights. In the second quarter of the year, it began to enter the field of TV backlights.
The main production bases in the new century are located in Tainan, Taiwan, Dongguan, Guangdong and Kunshan, Jiangsu. The customers are all over the world, but mainly in the Asian, Japanese, Taiwanese and Korean markets, because the application fields of the new century are based on display screens and backlights. The main, and the mainland is the world's largest display production site, with annual output exceeding 70% of global production. Demand for LEDs for display screens is strong. Japan and South Korea are the world's leading producers of LCD TVs and display screens. There is a big demand.
Second, operating income and profits
1. Operating income
In 2009, the sales and discounts of sales in the new century increased by 4 times to NT$140 million from NT$27.01 million in 2008. Coupled with the extended payment cycle of customers, the loss of bad debts in the new century was greatly increased, and the company’s The Blu-ray chip has still not been widely used in the large and medium-sized backlight field, resulting in a serious decline in operating income in the new century in 2009 and a loss in net profit.
In 2010, the Japanese government introduced a lighting subsidy policy to boost the sales of LEDs in Japan, which made the development of the Japanese lighting market in the new century begin to show results. In addition, it obtained the certification of large-size backlight manufacturers in the first quarter, and promoted the expansion of products in the new century. The number of MOCVDs has increased from 26 to 55, and the monthly production capacity of epitaxial wafers has increased from 22,000 to 31,000. The monthly capacity of chips has increased from 317 KK to 700 KK. With the release of production capacity and the improvement of chip luminous efficiency, the performance of the new century grew rapidly in 2010, with a year-on-year increase of 176%.
In 2011, the new century plans to expand the number of MOCVD to 65 units. In the first three quarters, the new century has achieved operating income of NT$3.54 billion, a year-on-year increase of 78%, which is higher than other Taiwan epitaxial wafer and chip manufacturers. Looking forward to 2012, in addition to the growth of display and backlight business in the new century, the lighting business will become the company's new growth momentum.
Figure 1 Business revenue of the new century in the first three quarters of 2006-2011
2. Profit rate situation
The gross profit margin in the new century is at the leading level in the industry because its green epitaxial wafer is a customized product with a higher gross margin than the chip. In recent years, the gross profit margin of Taiwan's upstream manufacturers has experienced large fluctuations. In 2009, the gross profit margin of the new century has plunged sharply, while the gross profit margin of Jingdian and Yuanyuan has been increasing, mainly because of the crystal power and ç’¨ in 2009. Thanks to the demand for Samsung LED TV orders, the capacity utilization rate is high, and the proportion of products with low gross profit margin is reduced. In the same period, the products of the new century can only be applied to small and medium-sized backlights with low gross profit margin, resulting in new 2009. Century gross margin fell sharply by 28%. In 2010, the TV chips for the new century began to be shipped in volume in the second quarter. In addition, lighting products entered the Japanese market, driving their revenue and gross profit margin to rebound rapidly.
In 2011, under the circumstances that the global manufacturers expanded their production significantly and the demand was much smaller than expected, the LED chips showed a period of over-capacity, and the price dropped sharply. The capacity utilization rates of major manufacturers all declined to varying degrees, which made it difficult to maintain high gross profit. Looking forward to 2012, LED demand will continue to grow rapidly and the price will continue to decline. It is difficult to change the lighting products of its own brand in the new century. In the initial stage of promotion, it will invest a lot of money, and its gross profit margin will face greater pressure to recover.
Figure 2 Changes in the gross profit margin of the new century and competitors
The Hiti Wireless Wifi Printer
Dye sub technology enables long-lasting, water-proof, UV resistance and fingerprint-proof photos.
Include various filters, exclusive frames and stickers. Easily customize your photo with adding QR codes to embed information or creating gift cards.
Wireless connection enables you to print and share at any occasions easily.
Tap your smart phone on the NFC tag on the Pringo to run the app for instant photo printing.
Hiti Photo Printer,Mobile Phone Photo Printer,Mobile App Connection Print,Waterproof Hiti Photo Printer
GuangZhou CAIUL Digital Products CO,.LTD. , https://www.caiul-instax.com