Dongbei's 2016 revenue exceeded 1.8 billion, this year adjusted products to improve gross profit margin

In the fourth quarter of 2016, Taiwan-based LED packaging manufacturer Dongbei Optoelectronics lost about 500 million yuan (NTD, the same below) due to the evaluation of assets, resulting in a loss of 1.41 yuan per share for the whole year, which was not as good as expected. The company said that it is accelerating the adjustment of product sales and major customer portfolios, hoping to increase gross profit margin. If smart people include new products such as lighting, optical modules and automotive lighting and new orders, the operating conditions should be improved this year. However, affected by factors such as the Lunar New Year and the traditional off-season and the decline in lighting products, Dongbei’s accumulated revenue in January and February this year was approximately 1.024 billion yuan, down 17.5% year-on-year. It is estimated that the temperature should be regained in March, but the revenue in the first quarter may be lower than the previous quarter and the same period last year. Dongbei's 2016 revenue was approximately 8.077 billion yuan (equivalent to approximately RMB 1.844 billion) and an annual decrease of 0.19%. Among them, the accumulated net profit after tax in the first three quarters was 41 million yuan and EPS was 0.13 yuan. It was originally expected that the fourth quarter should be flat or small, but the company’s assessment of impairment losses for various assets was about 500 million yuan, resulting in post-tax losses. 460 million yuan, the loss per share after tax is 1.41 yuan. Looking back on 2016, Dongbei explained that the main reason is the intensified competition in the overall industry. In addition to the increase in overseas litigation expenditures last year, the company is still profitable despite many challenges, the industry (lighting products, LED components, etc.), but based on soundness. Conservative principles are still assessed and proposed for each asset project to be deducted by about $500 million. Since this part of the preparation for loss does not affect cash flow, it has no impact on finance and business. Looking ahead to 2017, the company will focus more on product and customer structure, and has adjusted its product sales mix to increase gross margin. On the one hand, it will reduce the proportion of low-cost lighting products, increase the shipment of high-profile lighting products, and focus on the orders of international backlight manufacturers, avoiding competition with mainland manufacturers, and expecting to have profit on this year's products. Improved. In the new product segment, Dongbei is expected to launch a new generation of intelligent human-induced lighting and optical module products in the third quarter of 2017, and the automotive lighting products will also have the opportunity to grow quarter by quarter. Dongbei was originally a large LED packaging manufacturer, mainly for consumer products and backlight applications. In recent years, we have been transforming and actively expanding the development of lighting products. Last year, the proportion of lighting products such as light bulbs, lamps and smart lighting systems totaled about 5% to 60%, and the proportion of backlights was about 40% (half of TV and mobile phone backlights). This year, due to the addition of new customers, the lighting product portfolio was adjusted. The proportion of niche products such as vehicles and infrared rays may double. It is estimated that the proportion of backlights will rise to over 50%, the lighting estimate will drop to 40%, and the proportion of niche products will be estimated to be 5%-10%. At present, Dongbei Lighting products are mainly supplied to large-scale access customers in the United States, and sold under the Toshiba brand in Europe and Taiwan (the sales of Toshiba brand lighting products in Europe and Taiwan in the fourth quarter of 2015). Among them, the US market is about 70%, Europe is about 20%, and China, Taiwan, Southeast Asia and other Asian regions are about 10%.

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