Hongqi: MiniLED and infrared are the main growth momentum in 2022

LED packaging factory Hongqi has recently been affected by other parts in the supply chain such as shortage of materials leading to customer pulling progress adjustment, as well as Changes in market demand for IT products caused by the unsealing of Europe and the United States, and the peak season in the second half of 2021 is not strong, following the third quarter revenue slightly reduced, the fourth quarter revenue further cooled.

The cumulative revenue for the first 11 months was about NT$2.79 billion (NT$, the same below), still up 22.78% year-on-year, of which the earnings per share in the first three quarters were about 1.53 yuan. It is estimated that the annual revenue will fall around 3 billion yuan, which may be a new high in the past 4-6 years, and EPS also has the opportunity to challenge the new high of profits in the band of at least 7 years or more than 10 years.

Image source: Paixin's genuine gallery

Looking forward to 2022, Hongqi said that the company's outlook is optimistic. The main momentum comes from the order shipments of MiniLED and infrared IR LED-related products, which are expected to continue to grow. In addition, Hongqi also actively invested in IC packaging in conjunction with the related company Jiuyuan, and aims to release shipments in the first quarter of 2022.

At present, Hongqi has launched a MiniLED series of products for two major applications of display and backlight, including 4 in 1 Mini LED, Local dimming Mini LED (area dimming), etc. In 2021, MiniLED accounts for less than 5% of the overall revenue, and it is expected that the multiple may increase in 2022.

Infrared IR LED benefits from the wearable, smart networking devices, home appliances, security control, automotive and other market demand, the shipment situation in 2021 is growing strongly, and the proportion of Hongqi revenue is currently 15%-20%, which is higher than that of 2020. It is expected that the IR LED business will continue to grow in 2022, and the number of product customers for AR devices is expected to increase again. (Source: MoneyDJ)

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