Weak buying of high-end smart phones: touch panel factory frustrated
Recently, the mainland market has entered a period of inventory adjustment. LCD TVs and smartphones have been revised down in the third quarter. Touch panel manufacturers have also been affected. The operating performance in the third quarter may not be in the peak season. The effects have emerged including the decline in interface revenue in July. 30.5% , Mudong declined 16.5%, and Chen Hong also had flat shipments in July and August because of delayed customer shipments. The market expects that touch panel manufacturers will generally experience double-digit declines in revenue in the third quarter.
In the first half of the year, buying momentum for high-end smartphones weakened, and buying momentum in the mainland smartphone market was also affected by adjustments in subsidy policies. It is rumored that the mainland mobile phone brand factory actively adjusted inventory in June and July, and the inventory adjustment may continue until August, which has caused the shipment of touch panel manufacturers to weaken, and the embarrassment of the peak season is not in the third quarter.
The legal person predicts that the revenue of touch panel manufacturers will generally decline by double digits this quarter, and the shipment high this year may be postponed to the fourth quarter.
In addition, NB has also adjusted its inventory due to major manufacturers, and the launch time of new touch notebook products may be postponed to September. As for the time to distribute tablet computers, it has also been affected. In addition, the slowdown of mainland mobile phone shipment momentum has led to the interface business. Revenue reversed from June, July revenue was only 736 million yuan, a monthly decrease of 30.5%.
The interface pointed out that the visibility of orders in the third quarter was unclear, and the shipping pattern changed. LCD shipments were less in this quarter, and the unit price of shipments was reduced, which also caused a decline in revenue in this quarter. Ninety percent of the company ’s customer structure is from the mainland, and it is also affected. In July, revenue was about 293 million yuan, a 16.52% decline from the previous month.
Touch leader Chen Hong also released a conservative view on the third quarter, with orders shrinking in May and June. This wave of low-end operations is expected to continue into the third quarter. Consolidated revenue in July was approximately 9.384 billion yuan, a month-on-month increase of 8.9%. It is expected that shipments will be flat in August, and the performance will only rebound significantly in September. At present, the demand for high-end mobile phones is still weak, and the visibility of touch notebooks is unknown. New products may be postponed to mass production in the fourth quarter. It is expected that consolidated revenue in the third quarter will decline by 15% to 20% from the previous quarter.
In contrast, Shenghua and Yanghua are expected to rebound in the third quarter due to the launch of new products for customers. Shenghua's merger camp recovery in July rose to 5.586 billion yuan, a monthly growth of 27.23%; mainly due to the relief of the shortage of mobile phone panels in July, plus the new tablet computer Nexus7 began mass production, increasing operational growth momentum, legal person estimates This quarter's revenue is expected to grow 20% from the previous quarter. Yanghua's combined revenue in July was 722 million yuan, a month-on-month growth of 29.28%. Due to the launch of new products from US and Korean tablet computer customers, revenue growth momentum turned stronger.
Unknown touch market conditions: limited Q3 space in some Taiwanese factories
The revenue of the touch supply chain in July this year was mixed. Among them, in terms of glass-related components, professional coated glass factory Encore (3615) revenue fell to 59.29 million yuan in July this year, a monthly decrease of 26%, and touch sensor supplier Hexin (3049) revenue in July It fell to 616 million yuan, and the monthly decrease was nearly 26%. Zhengda (3149) July revenue benefited from seasonal demand (rumored as AR coaTIng glass for AIO PC), rose to 690 million yuan, and the monthly increase reached 27 %. However, as for the overall third quarter, due to the weak outlook of the major touch panel manufacturers and the terminal consumer power still to be observed, under the premise of unknown market conditions for the touch, Encore, Zhengda and Hexin may have limited performance in the third quarter.
Zhengda's consolidated revenue in July this year reached 690 million yuan, a monthly increase of 27.69%, an annual increase of approximately 13.56%, and cumulative revenue for the first seven months of this year reached approximately 6.778 billion yuan, an annual increase of 54.04%. Although the third quarter coincides with the traditional peak season for coated glass and surface glass, due to the concentration of customer orders, new product yield problems, product price pressure and other factors, external estimates suggest that Zhengda ’s revenue in the third quarter of this year may be It is close to RMB 2.6-2.8 billion, which is the same as the previous quarter or within 10% of the quarter.
Encore's consolidated revenue in July this year dropped to 59.29 million yuan, a monthly decrease of 26.3%, mainly due to the (delay of the touch panel) industry demand, the annual decrease also reached 28.55%. In the first seven months of this year, the combined revenue reached approximately 668 million yuan, which is still an annual increase of 29.7%. As mid-size tablet PC applications are expected to recover from late August to September, the market expects that Encore's revenue from August to September this year may gradually improve. However, overall third-quarter revenue may be close to RMB 2-2.5 billion, with a quarterly reduction of over 20%.
The combined revenue of Hexin in July this year came to 616 million yuan, a monthly decrease of 26.44%. On the one hand, in addition to being affected by the weak demand for the touch panel market, the other reason is that since this year, Hexin has gradually faded out of the post-module process Jing (6116) production), relatively reduced revenue kinetic energy, but compared with the same period last year, it is still an annual increase of 43.87%. Cumulative revenue in the first seven months of this year reached approximately 6.4 billion yuan, an annual increase of 287.64%. It is estimated that Hexin's revenue in the third quarter of this year may be close to 2.1 billion to 2.5 billion yuan, and the quarterly decrease is estimated to be double digits.
The board of directors of Hexin has also approved the issue of new shares through cash subscription through public subscription. The number of issued shares is 250 million shares, which is used to increase the repayment of borrowings or enrich working capital.
In addition, in order to reduce investment losses and revitalize assets, Hexin decided to dispose of its mainland China investment business Guanxin Optoelectronics (Suzhou) equity, the transaction object is Morgan And MartTI Holding Company, the total transaction amount is about 19 million US dollars, and the disposal benefit is about 7.69 million US dollars . The original main business of Guanxin Optoelectronics (Suzhou) was LCD backlight modules and related components. The net value of the financial statements in the most recent year was 69,255 thousand yuan, and the loss in the most recent year was 8,633 thousand yuan. According to the contract, the transaction will be paid in four installments, which are USD 1 million in the first phase, USD 6 million in the second phase, USD 9 million in the third phase, and USD 3 million in the fourth phase.
Using latest technology and expertise knowledge, we are indulged in providing Monocrystalline Solar Panel. Our Monocrystalline Solar Panel is highly appreciated amongst clients for its excellent features such as reliable operation and dimensional accuracy. Clients can buy this product from us at industrial leading price.
Monocrystalline Solar Panel
Monocrystalline Solar Panel,Monocrystalline Silicon Solar Panel,High Transmission Rate Solar Panel,Photovoltaic Cell Solar Panel
Delight Eco Energy Supplies Co., Ltd. , https://www.cndelight.com