In the Q3 earnings report released before the accumulation, the revenue rose 1.28% to 674 million yuan, a new high in a single season, but the gross profit margin of 32.94% was significantly lower than the 35.97% of Q2, which also led to a sharp decline in net profit after tax of 22.01. % is only 83.246 million yuan. This accumulation pointed out that the fluctuation of gross profit margin is because the product mix is ​​being adjusted, and Q4 is expected to stop falling and stabilize.
Accumulation is still dominated by LED driver ICs for display screens, accounting for over 90% of total revenue. If it is divided into local revenues, the mainland accounts for more than 2/3 of its revenue, and the rest is in Europe and America.
Accumulation indicates that the new product LED lighting power module Q4 has started to be shipped in small quantities, and the module products have always had a low gross profit margin. This accumulation emphasizes that the company's future layout of LED lighting power modules is still under planning, and currently estimates the revenue of next year. The ratio is maintained at around 10%. The accumulation will continue to reduce IC production costs and increase the proportion of ASP's higher-end products. I believe that next year's gross margin will be stable this year.
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