Huaxing Q2 revenue increased by 17.48%. Q3 is expected to decline.

Taiwan's LED packaging factory Huaxing said that with the main business low-temperature lighting entering the peak season of shipments, the combined revenue in the second quarter of this year reached 468 million yuan (NTD, the same below), an increase of 17.48% compared with the previous quarter of 399 million yuan. Looking forward to the third quarter, although the season is still in the peak season of low-temperature lighting shipments, as the time goes to the off-season in October, the peak season effect will gradually fade. It is estimated that the third quarter revenue will decline compared with the second quarter.

After entering the peak season of low-temperature lighting, Huaxing's revenue accounted for 49% of revenue, while other products accounted for 10% of indoor lighting, 5% of backlight, 18% of LAMP, 13% of SMD, and 5% of Display. Among them, the top three main customers of low temperature lighting are Ingersoll Rand (IR), Coca-Cola, Pepsi and other American companies.

Huaxing pointed out that customers who are limited by low-temperature lighting are mostly overseas customers, and shipping orders often have deferred recognition. During the peak season of low-temperature lighting shipments from April to October, the monthly consolidated revenues often changed significantly, but the combined monthly revenue of more than 140 million yuan was still the peak season performance.

Huaxing said that the peak season effect began to ferment earlier in March, while in April and May it was affected by the deferred recognition of low-temperature lighting shipping orders. The consolidated revenue in April was 148 million yuan, and in May it surged to 176 million yuan. However, in June, when there were fewer large deferred orders and shipments were not smooth, the consolidated revenue for the month was reduced to 144 million yuan, a decrease of 18.59%, but it still maintained the peak season performance.

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