According to data, due to the impact of customer inventory adjustments, touch panel manufacturers generally performed poorly in June. Among them, Yanghua, Hexin and Shenghua all declined by more than 20%, and the decline of F-TPK was as high as 40%. It currently appears that July revenue performance is expected to stabilize, but visibility in the third quarter is not high, and there are still many variables in the second half of the year.
The touch panel factory's revenue declined in June, and the second quarter's operating performance was not as expected, causing the stock price to plunge recently. Chen Hong jumped sharply in the opening gap yesterday, and once hit the limit. The final plunge was 6.64%. As for Yanghua and Interface shares, they also fell more than 3%. Although the operation will be out of the bottom in the third quarter, the poor purchase of touch notebooks, coupled with the unsettled timetable for the launch of new tablet products, the market's view on the market conditions of touch panels in the second half of the year has turned conservative.
Yanghua announced yesterday that its June revenue was only 559 million yuan, a monthly decrease of 19.22%; the second quarter revenue fell to 1.963 billion yuan, a quarterly decrease of 31.07%, setting a new low since listing. In the first quarter, Yanghua's consolidated revenue fell to 2.848 billion yuan. Due to the reduction in the scale of shipments, the gross profit margin also fell to 13.3%, and the operating profit fell to 118 million yuan. In the second quarter, the revenue scale continued to decrease. The legal person estimated that the single-quarter gross profit margin may be reduced to single digits, and the single-quarter business may fall into a loss.
Yanghua said that lower revenue in June was mainly due to delayed shipments of some orders. Judging from the current order status, July will pick up, and the third quarter is the traditional peak season. With the launch of new products from customers, the performance will come out of the low tide.
Hexin also announced yesterday that its June revenue was about 837 million yuan, a monthly decrease of 26.32%. The total second quarter revenue was about 3.239 billion yuan, a quarterly increase of 26.52%. It is one of the few touch panel manufacturers that has grown against the trend. Hexin's customers are scattered, and this year's supply to Lenovo, Asus, Acer and other brand manufacturers, and part of the production capacity of the 5.5th generation line is to provide Samsung AMOLED touch sensing glass. The combined revenue of Hexin in the first quarter of this year was about 2.56 billion yuan, an annual increase of 410%. Because of the increase in revenue, the improvement in yield, and the improvement in gross profit margin, it reached 12.65%. The industry also turned into a profit. The net profit after tax was about 7, 1 million yuan, the first quarter EPS is about 0.08 yuan. Profit in the second quarter is expected to be even higher.
Interface's upward momentum in revenue this year was interrupted in June. Last month's consolidated revenue fell to 1.06 billion yuan, a decrease of about 11.7% from the previous month, but it still increased significantly by 205.1% from the same period last year. In the first half of the year, driven by orders from well-known brands such as Sony, HTC, and Xiaomi, the operating performance grew against the trend. Revenue in the second quarter of this year reached approximately 3.297 billion yuan, a quarterly increase of 57.22% and an annual increase of 230%. As the combined gross margin of 3.5% in the first quarter of the interface has turned positive, the rumored interface has made a single month of profit in May, and it is expected to turn into a profit in the second quarter.
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