Huadian expected listed in mid-september, COF package products to enter the AMOLED panel application. Corporate expectations, huadian easily in the second half performance can be optimized in the first half of the third quarter is expected to JiZeng more than 20%.
Huadian said easily, main development LCD panel display driver IC with a roll of belt type high order flip chip film IC substrate (COF package) products, have added layer method (Semi - i.e.) and etching method (Subtractive) COF package process technology, main wearable device and higher-order smartphone applications, 4 k2k panel demand growth period, the future of active organic light-emitting diodes (AMOLED) need to use more COF package encapsulation.
Huadian power points out easily, COF package there is no standard production line, there is no standard process, there is no standard machines, therefore in the process, including chemical liquid ratio, the development process parameters, process equipment development and design capabilities, is important. Need to have a combination of the above three integration ability, and there are more than 80% yield, before dispatch.
In addition, COF package production cycle takes 3 weeks, full customization order production, relying on long-term cooperation and technology development capability, industry barriers to entry is high, not easy to be replaced.
Corporate expectations, huadian listed in mid-september, listing will adopt the mode of book-building.
The forecast in the second half, the legal person expected, easy huadian second half performance can grow double-digit percentage points from that of the first half of the year; More than 20% of the third quarter is expected to JiZeng, grain rate can obviously increase, the third quarter gross margin can maintain season 2 levels.
In customer section, as a legal person, said yi huadian panel companies supply chain has already reached China.
As a legal person, said yi huadian development of 2 - Metal COF package and IC ThinFilm substrates and other products, are expected to invest nt $1.2 billion. To existing COF package area computation, the quantity is about 5 million, when the fastest in the second half of 2017 is expected to enter mass production. If the production yield 6 into rough estimates, conservative to calculate the monthly output to 40 million yuan.
From the rivals, as a legal person, points out that Yi Hua electronic main competitors including Taiwan at state owned by xin electronics, South Korea's LG treasure IT and Stemco and Flexceed (formerly known as Shindo).
Easy during the first half of huadian power of the revenue of 863 million yuan, the combining 21.5% gross margin; Business interests during the first half of 107 million yuan, merge camp profit rate is 12.46%, after-tax net profit of 68.83 million yuan, after-tax earnings per share 0.76 yuan.
