Net profit fell by more than 10%, jufei power automotive LED, Mini/Micro and other new areas

In 2021, Jufei Optoelectronics' net profit declined to a certain extent under the condition that its revenue was basically flat.

According to the performance express, in 2021, Jufei Optoelectronics achieved operating income of 2.371 billion yuan, an increase of 0.86% year-on-year; achieved a net profit of 272 million yuan, a year-on-year decrease of 10.93%.

For the decline in net profit, Jufei Optoelectronics said that on the one hand, due to the spread of the epidemic and changes in the global political and economic environment, the global electronics consumer market is facing great challenges, and the traditional product market of Jufei Optoelectronics is under great pressure, resulting in a decline in comprehensive gross profit margin.

On the other hand, due to the continuous increase in the construction of R&D platforms in the three places, more investment in the research and development of new products and new technologies has led to a decline in net profit.

Jufei Optoelectronics' main business is the development, production and sales of optoelectronic devices, sensitive devices, sensors, light-emitting diodes, SMDLED, lighting LEDs, optoelectronic device application products, the main products are backlit LEDs, lighting LEDs, other LEDs, communication technology service products.

In the past two years, in addition to continuously expanding investment in traditional backlight and lighting products, Jufei Optoelectronics has also increased investment in other new products such as automotive LEDs, Mini/Micro, and invisible light.

01

Backlit LED products are shifted to medium to large size

In recent years, the backlight LED applied by Jufei Optoelectronics on high-end mobile phones has been partially eroded by OLED screens, and affected by the global chip shortage and the overseas epidemic, mobile phone shipments have declined, market competition has become increasingly fierce, and its product sales have been under greater pressure.

Organic in danger! During the epidemic, business opportunities around the markets such as remote office and online education have continued to burst out, which has greatly stimulated the application demand for terminal products such as tablets, laptops and displays.

In this context, Jufei Optoelectronics makes full use of existing product technology, actively lays out related product lines, and realizes the continuous expansion of small and medium-sized backlight applications.

In addition, with the development of LCD TV products to intelligent, large-screen, high-definition and multi-partition high dynamic range (HDR), wide color gamut, Jufei Optoelectronics' LED packaging technology has also continued to advance in the direction of high light efficiency, high reliability, high heat dissipation capacity and thinness, and the application direction of large-size backlit LED products has been extended.

02

Lighting LED products are in line with the high-end

As we all know, the market capacity in the lighting field is relatively large, but due to the relatively low market entry threshold, the competition in the lighting LED business is more serious, and some manufacturers have gradually withdrawn from the competition in the lighting market.

In other words, although the market demand for lighting LEDs is strong, the profitability effect is not as good as that of backlight products. Therefore, Jufei Optoelectronics will take the high-end lighting market as the key direction of strength and expand the production capacity of some lighting products, so as to achieve sales revenue growth.

According to Jufei Optoelectronics, "around the high-end lighting market, follow-up companies will also have corresponding capacity expansion plans." ”

03

The increase in automotive LED products is large

In the past two years, with the rise of new energy vehicles, led applications with a strong sense of science and technology have made the overall vehicle LED consumption continue to increase significantly.

Up to now, more large terminal manufacturers have taken the initiative to find DOMESTIC LED packaging factories to discuss opportunities for business cooperation. To some extent, Jufei Optoelectronics will also usher in a market segment with a large room for growth.

According to the data, Jufei Optoelectronics' automotive LEDs are used in automotive electronics, instrument panels, automotive interiors and lamp lighting, atmosphere lighting and navigation screens, etc., in line with the requirements of vehicle regulation certification, high quality requirements, and a large increase in recent years.

04

The Mini/Micro LED is going well

With the accelerated layout of terminal manufacturers and the positive response of the upstream and downstream of the industrial chain, since 2021, more and more Mini LED terminal products have been listed, and MiniLED products have also ushered in rapid growth.

Thanks to the full industrial layout in the early stage, Jufei Optoelectronics' Mini LED products have been recognized by the market with the advantages of high color gamut, high brightness, high contrast, and stable quality and performance, and are cooperating with customers to supply in batches. At the same time, Micro LED's technology research and development reserves and cooperative development with key manufacturers are progressing smoothly.

As far as Mini LED products are concerned, Jufei Optoelectronics has covered Mini LED backlight products and Mini LED direct display products. Among them, mini LED backlight products are currently supplied in large quantities; and the market acceptance of Mini LED direct display is also getting higher and higher.

Affected by the spread of the global epidemic and the economic environment, the current market demand has not yet fully started, but the application market space of Mini LED is vast, and it is expected that there will be a large market performance next year.

It is worth noting that well-known terminal enterprises at home and abroad continue to launch new Mini LED products, increasing the popularity of Mini LED products, and consumers' recognition of Mini LED products is getting higher and higher. At present, a large amount of money and a large number of enterprises are entering the field, and the market competition is also intensifying.

In the face of market competition, Jufei Optoelectronics pointed out, "Our advantage is that, first of all, Mini LED customers and traditional product customers highly overlap, cooperation for many years, viscosity is larger; secondly, the company has been paying attention to technological innovation and taking into account the stability of product performance, in order to cope with the development and expansion of new products, the company has its own funds, and is confident of obtaining a higher market share during the rapid rise of Mini LED products." ”

05

Invisible light is expected to become a new growth point

With the growth of consumer demand for safety monitoring, 3D sensing and monitoring tracking in intelligent sensing terminals such as smart wearables, consumer electronics, and new energy vehicles.

At present, jufei optoelectronics' invisible light business is progressing smoothly, has been recognized by a number of smart wearable first-line brands, and has made gratifying breakthroughs in the field of intelligent sensors, VCSEL products have been applied in consumer electronics, laser sensing, security monitoring and other industries.

Jufei Optoelectronics said, "It is expected that the future development prospects of invisible light products can be expected, and it is expected to become a new profit growth point for the company." ”

It is worth mentioning that while developing and expanding the existing main business, Jufei Optoelectronics has also implemented the layout of strategic emerging industries step by step, among which the optical device team in the high-end semiconductor packaging business has realized the expansion of part of the optical communication territory, and established single-channel and multi-channel COB production lines while building the R&D line body, laying a good foundation for the subsequent launch of new products.