MiniLED is accelerating its development, and the operation prospects of Jiuyuan and other equipment factories are good

With Samsung, Asus, Apple and other brand factories have expanded the use of MiniLED, driving the penetration rate of related devices to increase, the market is optimistic that MiniLED business opportunities this year are expected to join the take-off, further injecting vitality into the supply chain.

Taiwan factories have competed for MiniLED business opportunities, such as LED integration of large factories rich, LED packaging Yiguang, Guangbaoke, playing board factory Table Branch, etc.; LED spot testing / sorting equipment suppliers are Wite, Jiuyuan, Wanrun and Wang Silicon, etc., and the latter three industries not only have MiniLED themes, but also benefit from the long-term growth trend of the semiconductor industry.

Among them, Jiuyuan Electronics is a professional semiconductor cutting, testing OEM and equipment sales manufacturer, and the company invests NT$200 million to NT$300 million in research and development expenses every year to support technology growth. The company has successfully developed die bonder, high-speed LED pick and inspection machine and other equipment, and began to ship in small quantities in 2020, and will further launch high-end models to seize the market this year.

In terms of operating model, customers mainly purchase MiniLED-related equipment and machines, and Jiuyuan is responsible for OEM, which can contribute both equipment and OEM income. It is understood that this year, the company mainly cooperates with domestic affiliates to supply, but also will continue to expand other new customers, this year's growth rate of related products is expected to be better than last year.

The legal person believes that due to the decrease in the number of working days, Jiuyuan's performance in the first quarter of this year will cool down slightly, but it will still be better than the same period last year. Based on the test foundry expansion and self-made equipment layout fermentation, under the contribution of the two major businesses, it is optimistic that the gross profit margin this year will maintain a similar level as last year, and the annual revenue and profit are expected to re-create a new one.

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Wangsili is the largest probe card factory in Asia and the fifth largest in the world, and it is also the only major manufacturer in Taiwan that produces both picking and testing machines. In terms of product portfolio, semiconductor probe cards account for about 60% of revenue, LED picking related equipment accounts for about 20%, and new business groups- advanced semiconductor test solution systems (AST) and high and low temperature test systems (Thermal) account for about 10%.

The main customers of Wang Silicon in LED-related equipment are Jingdian, Sanan Optoelectronics, etc., and the market is optimistic that the company has a close relationship with customers and has the opportunity to catch up with MiniLED business opportunities. The legal person believes that Wang Silicon has been in the probe card market for many years, and continues to expand new customers and products, this year's business growth is good, with LED and other related equipment shipments to see an increase, this year's revenue is expected to strive for five consecutive years to create a high.

As for Wanrun's main supply of LED equipment, there are pickers, packaging machines, etc., but the current proportion of revenue is low, only single digits, and the main product is semiconductor packaging and testing equipment, accounting for more than 60%. The legal person said that affected by the delay in equipment shipments, the company's fourth quarter performance is under pressure, and it is expected that under the deferral effect, the performance of the first quarter of this year is expected to rebound, and better than the same period last year, and the whole year will still benefit from the trend of advanced packaging expansion of large customers and maintain double-digit growth. (Source: MoneyDJ)

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