Guoxing Optoelectronics' first quarter 2016 net profit increased by 18.18% year-on-year.

Guoxing Optoelectronics (002449) released the first quarter 2016 performance report on the evening of April 24th. The report showed that the operating income in the first quarter was 459 million yuan, up 18.18% year-on-year; the net profit attributable to shareholders of listed companies was 37.43 million yuan. It grew by 8.37% year-on-year.

The packaging industry has increased its concentration and the package leader has benefited. According to the packaging capacity, Guoxing Optoelectronics is the second largest LED packaging enterprise in China, with a current packaging capacity of 4000kk/m.

This year, the top three packaging factories in China expanded their production speed (including: Mulinsen 15000kk/m->25000kk/m; Hongli Photoelectric 2200kk/m->3500kk/m; National Star also has a production expansion plan).

With the expansion of leading manufacturers, LED package prices are expected to decline in 2016 after a sharp decline in 2015. Under the pressure of price, small enterprises will continue to withdraw. Although the company will suffer short-term gross profit or pressure, the company will benefit from market concentration in the medium and long term.

Guoxing Optoelectronics acquired Yaweilang last year, combined with its own holding National Star Semiconductor, to lay out the upstream LED chip design. At present, about one-third of the company's white-light packaging has been self-produced. In addition, the deep-UV LED chips that Yaweilang is committed to research and development have also become the company's medium and long-term perspective.

With the outbreak of the small-pitch LED market, Guoxing Optoelectronics enjoys a downstream market growth dividend.

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