Liqing has sharpened its swords for many years, LED lights welcome business opportunities for electric and new energy vehicles

LED car light module manufacturer Liqing Technology (3346) announced today that its consolidated revenue for June was NT$358 million, a monthly increase of 9.31% and an annual increase of 19.17%; the combined revenue in the second quarter was 1.053 billion yuan, with the stabilization of the epidemic in China and the benefit of the government’s preferential policies for car purchases, it led to the growth of major customers’ sales efforts, contributing to the second quarter revenue growth of 59.89% and an annual increase of 0.07%. Despite the impact of the epidemic, From January to June, self-settlement revenue was 1.712 billion yuan, a year-on-year decrease of -15.94%, but it was cautiously optimistic about the third quarter.

Li Qing said that the second-quarter revenue growth was mainly due to the Chinese government’s increased stimulus policies for the automobile industry and preferential car purchases after the epidemic, which has driven the new car sales market to grow for three consecutive months. The strong pull of major customers, especially in the taillights and headlights, the second quarter shipment performance quarterly growth of about 70%, 40% of the good results, the company’s two major production bases in Shanghai and Dongguan, China, production capacity utilization rate has reached 90% level.

Li Qing said that the LED lamp project that currently contains more than 50 electric vehicles/new energy and new car models that have been mass-produced and hand-held orders are expected to bring positive attention to the overall operation as the demand of major customers increases. . Liqing Automobile Department will make every effort to seize the business opportunities in the electric vehicle/new energy vehicle market and create the company's outstanding performance in the medium and long term.

Looking forward to the third quarter of 2020, the inventory warning index of Chinese auto dealers in June was 56.8%, although a slight increase of 2.6 percentage points from the previous month, but passenger traffic and sales volume have rebounded, and brand car manufacturers may also have the opportunity to increase under policy stimulus The sales growth momentum, the SAIC Volkswagen arrogant car model-LaVida, which was supplied in the first half of this year, was supplied by Liqing. The sales volume of this car in the first half of this year was as high as 180,000 units in China.

Li Qing said that in the second half of the year, it is expected that with the increase in customer demand for pulling goods, it will continue to drive good order visibility and pay attention to the overall operation of this year to deliver a quarterly upward transcript. Liqing has also continuously implemented important strategies such as optimizing the production line process, expanding the scope of the order taking market, and strictly controlling expenses, with a view to scaling up and improving its overall gross profit margin and operating performance.

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