Zhengxiang Precision (3685), which specializes in high-brightness LED backlight light guides, has been approved by the cabinet. It is estimated that the mid-December trading will be held at a tentative underwriting price of NT$25.
Zhengxiang is a small and medium-sized light guide plate manufacturer in Taiwan. The current main products are small and medium-sized PMMA/PC high-luminance light guide plates. The global market for small and medium-sized light guide plates is about 10%. At present, the main products cover 1.8 to 10.1 applications. Among them, 1.8 to 5 products are mostly used in mobile phones, digital cameras, GPS, etc., with a weight of about 60%-70%, of which mobile phones are the bulk. 7 light guide plate is used for digital photo frame, car digital signal system, 8-10 products for small notebook and other products. The main customers are AUO (2409) and CMO (3481). The two customers have overall revenues of over 70%. In 2010, new touch panel customers will be added. The global market rate will reach 10% by the end of 2010.
In the future, the company will continue to develop light guide plate products, towards unit cost reduction, ultra-thinning and high brightness. At the same time, we actively rushed into the Korean giants and entered the Korean supply chain, achieving the goal of 25% global market rate in the next three years.
Zhengxiang's first quarterly joint income of 397 million yuan, after-tax net profit of 79.61 million yuan, net profit after tax of 2.28 yuan per share, continued to create a record high, the legal person said that the company's current capacity is full, plus orders see 2011, estimated The growth momentum of Q4 will be expanded compared with Q3. The annual revenue of 2010 will be 500 million yuan, and the net profit after tax will have a chance to fight 4 yuan.
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