[High-tech LED News] Crystal Optoelectronics 2010 annual report, realized operating income of 332 million yuan, operating profit of 108 million yuan, an increase of 76.55%, 61.37% over the same period last year. Net profit was 94 million yuan, an increase of 62.86% over 2009.
The sapphire substrate is the future of the company. In 2010, Crystal Optoelectronics announced that the company invested 13 million yuan to build a 3.6 million piece/year LED sapphire substrate project. It was completed in two phases. The first phase was the production capacity of 1.2 million pieces per year in 2011 and the production capacity of 2.4 million pieces per year in the second phase of 2012. At present, the company has only started production of 40,000 pieces per month. At the end of June 2011, the first batch of equipment arrived, and it is expected that the first phase of construction will be completed if the end of the year is successful.
The sapphire substrate for LEDs is upstream of the LED industry chain, and the threshold for entry is very high.
At present, 70%-80% of the substrate material of white LEDs on the market uses a sapphire substrate. Due to the high technical requirements for the fabrication and cutting of substrate materials, and the inclusion of a number of technical patents, domestic materials are basically dependent on imports.
Although the sapphire substrate of Crystal Optoelectronics is a high-tech product independently developed by our technicians, the product research and development project is included in the key technological innovation project of Zhejiang Province in 2010, but compared with the technology of foreign manufacturers, can the crystal be The 4-inch technology remains competitive, and further observation is needed. Now, the 6-inch product with higher technical requirements has also been launched, which is a big test for the subsequent R&D technical capabilities of Crystal Optoelectronics.
Judging from the profit forecast disclosed by Crystal Optoelectronics, the future performance of the company is optimistic.
From the current development trend of Crystal Optoelectronics, under the premise of not considering the contribution of micro-projection performance, the existing products should achieve no more than 1.7 yuan in 2013. It is assumed that the sapphire substrate project can achieve the expected after 2013. For the annual profit, the earnings per share will increase by 0.88 yuan.
China Merchants Securities expects that the Crystal Photovoltaic LED project will be mainly trial production and running-in in 2011. After the technology is mature in 2012, it will have positive benefits for the company.
However, this project of Crystal Optoelectronics is also subject to certain risks. Once the project investment fails, it will not only bring in the expected profits, but also may cause tension in the capital chain and affect the current normal profit.
The sapphire substrate is the future of the company. In 2010, Crystal Optoelectronics announced that the company invested 13 million yuan to build a 3.6 million piece/year LED sapphire substrate project. It was completed in two phases. The first phase was the production capacity of 1.2 million pieces per year in 2011 and the production capacity of 2.4 million pieces per year in the second phase of 2012. At present, the company has only started production of 40,000 pieces per month. At the end of June 2011, the first batch of equipment arrived, and it is expected that the first phase of construction will be completed if the end of the year is successful.
The sapphire substrate for LEDs is upstream of the LED industry chain, and the threshold for entry is very high.
At present, 70%-80% of the substrate material of white LEDs on the market uses a sapphire substrate. Due to the high technical requirements for the fabrication and cutting of substrate materials, and the inclusion of a number of technical patents, domestic materials are basically dependent on imports.
Although the sapphire substrate of Crystal Optoelectronics is a high-tech product independently developed by our technicians, the product research and development project is included in the key technological innovation project of Zhejiang Province in 2010, but compared with the technology of foreign manufacturers, can the crystal be The 4-inch technology remains competitive, and further observation is needed. Now, the 6-inch product with higher technical requirements has also been launched, which is a big test for the subsequent R&D technical capabilities of Crystal Optoelectronics.
Judging from the profit forecast disclosed by Crystal Optoelectronics, the future performance of the company is optimistic.
From the current development trend of Crystal Optoelectronics, under the premise of not considering the contribution of micro-projection performance, the existing products should achieve no more than 1.7 yuan in 2013. It is assumed that the sapphire substrate project can achieve the expected after 2013. For the annual profit, the earnings per share will increase by 0.88 yuan.
China Merchants Securities expects that the Crystal Photovoltaic LED project will be mainly trial production and running-in in 2011. After the technology is mature in 2012, it will have positive benefits for the company.
However, this project of Crystal Optoelectronics is also subject to certain risks. Once the project investment fails, it will not only bring in the expected profits, but also may cause tension in the capital chain and affect the current normal profit.
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