Looking at the trend of LED packaging industry in the second half of the year from Jufei Optoelectronics

Jufei Optoelectronics (300323) recently released a semi-annual report. In the first half of the year, the company achieved a total operating income of 655 million yuan, an increase of 57.32% over the same period of the previous year; the net profit attributable to ordinary shareholders of listed companies was 59.414 million yuan, down 12.56 over the same period of the previous year. %.

In the first half of the year, the net cash flow generated by the company's operating activities was 57,746,900 yuan, an increase of 0.34% over the same period of the previous year of 55,570,700 yuan, indicating that the industry's return pressure has slowed down.

In terms of specific business, backlight LED realized operating income of 486 million yuan, a year-on-year increase of 32.02%; product gross margin of 26.25%, an increase of 0.10%. The data shows that the backlight market is still in a relatively stable development cycle; lighting LED realized operating income of 74.109 million yuan, an increase of 97.61%; product gross margin was 9.40%, down 5.07%. Displaying the price of the lighting market is more competitive.

The lateral extension of the package is the main line

The company's development strategy is to deepen the LED industry, relying on backlight LEDs and lighting LEDs to expand new services such as small-pitch display, infrared LED, and automotive LED (industrial control LED), and to ensure the existing business to improve the global market share. To expand the business activities of R&D, production and sales of IC integrated circuit packages and components.

The company's "new ultra-thin side-emitting white LED" can withstand higher drive currents for higher brightness. Can be widely used in high-end ultra-thin mobile phones and tablets, with higher brightness and cost performance, to meet the higher requirements of backlight consumers for backlight brightness, resolution and color.

"Infrared LED device" is an infrared transmitting and receiving device suitable for touch screen. It has a unique optical design to obtain a larger effective power radiation angle and has higher cost performance.

New changes in the traditional backlight market

With the intensified competition in the smart phone terminal market, the mobile phone module supply chain began to shift to the domestic market. As a leading enterprise in the domestic LED backlight industry, the company continued to enhance its comprehensive competitiveness through continuous innovation, lean management and continuous improvement, further consolidating the backlight. The leading position in the LED field has increased the global market share.

With the development of LCD TV products in the direction of large screen and high definition, the market space for large size backlights will be further expanded. As a leading company in the domestic backlight LED industry, the company firmly grasps the development opportunities of the increasing proportion of LED LCD TV large-size backlight modules, expands the company's product market space, and enhances market share to bring new growth momentum to the company.

Small pitch market is a must

During the reporting period, small-pitch display LEDs were mass-produced and sold, and market demand showed a high-speed growth trend. The company insists on creating high-end brands and provides customers with professional small-pitch display solutions. The products are used in indoor large-screen display, business conference and education, cinema and auditorium. As a strategic new business of the company, the small-pitch display is highly recognized by customers and the market with high reliability and low-level failure rate. Many large customers in the industry have been used in batches, and the company will become a new profit growth in the future. point.

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