Home Business Innolux’s third quarter profit increased by 11 times, earnings per share 1.77 yuan

Innolux’s third quarter profit increased by 11 times, earnings per share 1.77 yuan

by news dir

(Central News Agency reporter Pan Zhiyi, Taipei, October 28, 2021) Panel factory Innolux (3481) announced today that its consolidated revenue for the third quarter was NT$93.1 billion, a slight decrease of 0.1% from the second quarter; a single-quarter net profit of 19 billion yuan , Net profit after tax was 18.6 billion yuan, a substantial increase of 11.07 times compared with 1.54 billion yuan in the same period last year, but fell 13% from 21.4 billion yuan in the second quarter, and earnings per share were 1.77 yuan.

Innolux today announced a net profit of 18.6 billion yuan since the settlement of taxes for the third quarter. If the net profit after tax is 32.9 billion yuan in the half year, it is estimated that the net profit after tax for the first three quarters is about 51.5 billion yuan, which will be a significant improvement from the loss of 8.5 billion in the same period last year. The net profit after share tax is about 4.99 yuan.

Innolux pointed out that in the third quarter of 2021, the overall panel shipment area was 7.32 million square meters, an increase of 3.2% from the second quarter, and the LCD panel was priced at US$449 per square meter. Small and medium-sized panel revenue was 17.7 billion yuan, a decrease of 0.6% from the second quarter; the combined shipment area of ​​small and medium-sized panels was 911,000 square meters, an increase of 8.1% from the second quarter.

Innolux explained that in the third quarter, depreciation and amortization was 9.2 billion yuan, and capital expenditure was 6.8 billion yuan; by product application, portable computers accounted for 31% of revenue, mobile phones and commercial products accounted for 24%, and desktop screens 13% for TVs, 32% for TVs; depending on product size, 19% for 10 inches or less, 34% for 10 to 20 inches, 15% for 20 to 30 inches, 6% for 30 to 40 inches, and more than 40 inches 25%.

Looking back at the third quarter, Innolux pointed out that under the influence of global cargo congestion and the backlog of goods at the port, the uncertainty of shipping schedule and the pressure of inventory funds have caused the price adjustment of some sizes of TV products to exceed expectations. Other products such as information electronics, commercial, industrial control and medical products have stable demand for panels, and will continue to optimize the product structure to diversify the downside risks of consumer products.

Looking forward to the fourth quarter, Innolux believes that due to China’s double reduction and double control policy and the uncertainty of insufficient global transportation momentum, operations are facing new challenges. For large-size panels, TV panel products have entered the traditional off-season, but the end of the year coincides with the shopping schedule of the terminal market, such as Double 11, Black Friday, Double 12, Christmas and other holidays, which have the opportunity to drive some product inventory replenishment needs; information electronic panels The demand for the product remains stable.

Innolux explained that the fourth quarter of small and medium-sized panels entered the traditional off-season, resulting in lower customer demand for stocking. It is estimated that the overall panel shipments in the fourth quarter will decrease compared with the third quarter. It will dynamically adjust the product portfolio and increase the added value of the products to optimize profitability. , Carry out digital transformation and technological innovation to reduce the impact of industrial cycles. (Editor: Zhang Liangzhi)

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