In 2021, the LED integration factory Fucai benefited from the booming demand for red LEDs and the rapid growth of MiniLED applications, and revenue, gross profit margin and profit performance were better than expected. It is expected that a number of new MiniLED production capacity will be in place in the second quarter of 2022, when the MiniLED production capacity can be increased by about 50%.
However, with the current customer demand, market trends, supplier quality and yield, even if fucai these new capacity is opened again, it may still not be able to meet the market demand, it is reported that the company does not rule out the continuous increase of MiniLED production capacity to seize the market.
In addition to the rapid growth of MiniLED demand, red LEDs are also quite strong under the expansion of plant lighting and sensing applications. After increasing its red LED production capacity by about 20% in 2021, Fucai expects to expand by about 10% in 2022.
Benefiting from the introduction of MiniLED backlight technology in the main products of major US brands, the number of MiniLED application products on the market is increasing. As MiniLED technology matures, the Micro LED display mass production schedule is no longer out of reach. Korean Samsung recently preemptively released the latest 110-inch, 101-inch, 89-inch Micro LED TV products before the LAUNCH of CES in the United States, and micro LED commercialization is more and more just around the corner.
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In 2021, Fucai officially supplies MiniLED products (from Leijing, chips to packaging), in 2021, MiniLED accounts for more than 20% of rich production capacity, red LEDs account for about 20%, traditional blue LEDs still account for 50%, and it is estimated that in 2022, MiniLED will account for 30%-40% of production capacity.
Originally, the revenue scale of Fucai at the beginning of its establishment was about 23-24 billion yuan (the original revenue of Jingyuan Optoelectronics and Longda Electronics was roughly added together and deducted from the overlapping part), with the growth of MiniLED mass production goods, red LED demand, and the gradual fermentation of integration benefits, Fucai's cumulative revenue in the first 11 months of 2021 has reached 33.09 billion yuan, and it is estimated that the revenue in 2021 will be close to 36 billion yuan, an annual increase of 50%, and the annual earnings per share will challenge 3 yuan.
Due to the establishment of the development trend of MiniLED technology and the clear direction of red light and sensing applications, the legal person is optimistic that Fucai's revenue in 2022 will have double-digit growth power, and profits will also have the opportunity to go to a higher level. (Source: MoneyDJ)
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