Crystal Optoelectronics predicts a drop in net profit for the third quarter

Crystal Optoelectronics released the 2013 semi-annual report. During the reporting period, Crystal Optoelectronics realized operating revenue of 283,033,221.07 yuan, an increase of 19.38% over the same period of last year; operating profit of 64,765,336.88 yuan, an increase of 24.33% over the same period of last year; 56. Attributable to shareholders of listed companies RMB 743,539.18, an increase of 30.66% over the same period of last year.

According to the report, in the first half of 2013, due to the shrinking of digital cameras due to the squeezing of smart phones, the company’s camera-related product sales revenue declined, and there has been no substantial breakthrough in the microdisplay industry. However, the smart phone market is still booming. In particular, the rise of domestic brands of smart phones has changed the regional pattern of the original mobile phone market. The company firmly grasps the opportunities and preempts the layout. In the first half of the year, sales of related component products in the domestic mobile phone market have become the biggest growth point of sales this year. At the same time, the production of LED sapphire substrates is full. With its excellent quality and relatively stable customer base, it maintains a year-on-year growth in revenue and profits. In the first half of the year, the company's overall operating conditions were good, and its business performance continued to increase by a certain margin. The company adjusted the company's strategic development ideas according to the business plan at the beginning of the year, improved the organizational structure, optimized the talent team, continued to do deep-seated traditional optical business, accelerated the pace of development of new business such as LED, and started the strategic new business layout work to achieve the company's continuous development of.

Crystal Optoelectronics, which is known as the “popular lover” because of its good growth, has been favored by institutions. However, the reporter noticed that the company mentioned in the semi-annual report released yesterday that there was a drop in net profit in the third quarter. Considering that the third quarter was the peak season for the industry, the downturn in the peak season made investors feel difficult to understand. Some investors even suspect that the company’s inflection point is now present. Kong Wenjun, the executive secretary of the company, said that the net profit was particularly good in the third quarter of last year. Therefore, it is difficult to achieve the same level this year.

Semi-annual report close to the lower limit of 30% forecast

Yesterday, a semi-annual report of Crystal Optics was quite disappointing to many investors, because this questionnaire was lower than market expectations. The announcement said that in the first half of this year, the company realized revenue of 283 million yuan, an increase of 19.38%; operating profit of 64.675 million yuan, an increase of 24.33% year-on-year; a net profit of 56.743 million yuan, an increase of 30.66%.

At first glance, the half-year net profit growth rate of 30% is not bad, but the reporter noted that Crystal Optoelectronics once predicted in the quarterly report that net profit in the first half of the year will increase by 30% to 50%, so the actual net profit growth rate of the company can be described as tight Post prediction limit.

Hongyuan Securities also stated in its research report that the slightly lower-than-expected semi-annual report of Crystal Optoelectronics was indirectly affected by the smart phone market. In the first half of the year, Japanese manufacturers’ digital camera shipments fell by 40% year-on-year. As a result, demand for optical low-pass filters supplied by Japanese manufacturers decreased. Large international customers did not introduce new terminal products and overall sales growth declined. The demand for infrared cut filter has also declined.

Jingjing Optoelectronics still loses money

The reporter noticed that Crystal Optoelectronics stated that the change in net profit in the first three quarters is expected to be -10% to 10%, that is, there is a risk of declining performance year-on-year. It is worth noting that the peak season of the traditional optical industry is in the third quarter, and Crystal Optoelectronics has stated that the performance of the company may decline in the third quarter. What are the reasons? Kong Wenjun, director of the company’s executive secretary, told reporters that because of the exceptionally good net profit in the third quarter of last year, it received a net profit of nearly 59 million yuan. Although the business of digital cameras has been on the rise, there is still a gap compared to last year.

Analysts believe that the company’s previous micro-projection operations, which have received much attention from market funds, have not shown much improvement. Previously due to the rise of Google Glass concept stocks, the market believes that Crystal Optoelectronics has acquired Crystal Optoelectronics as early as possible, which may enter the video glasses supply chain, because Jingjing Optoelectronics is a company specializing in the design and manufacture of micro-projection light engine systems. . Jingjing Optoelectronics, however, handed in a transcript with a net profit of RMB 1,203,300 in the interim report. The secretary said that Jingjing Optoelectronics is still collaborating with Israeli companies in the field of micro-investment. Currently, it is only delivering samples. , It has not been put into production.