Fujingtong, the hottest touch panel manufacturer,

Touch panel factory fujingtong will expand the capacity of capacitive touch panels

fujingtong Q4 is flat last quarter; Next year, we will expand our capacitive touch capacity. Fujingtong (3623), a touch panel factory under Zhonghuan (2323) group, has been affected by factors such as the reduction of aerospace application orders, the lower than expected progress of new medical products, and the compression of gross profit margin by exchange rate fluctuations since this year. Not only has the revenue declined slightly, but the gross profit margin in the third quarter fell to a new low in recent four years. The earnings per share in the first three quarters was about 2.25 yuan, a decrease of 40% a year. The company said that the revenue in the fourth quarter was roughly flat, and the second half of the year should be slightly better than the first half, but the whole year may not be as good as last year

looking forward to 2018, fujingtong pointed out that the company will adjust its product portfolio and upgrade its technology. At present, the proportion of capacitive touch panel and resistive touch panel products is about 2:8, but customers' demand for capacitive touch panel is increasing, and many new projects are moving towards capacitive touch technology. Therefore, the company will increase its capital expenditure next year (from 20 million yuan and 30 million yuan in the past, to more than 50 million yuan), expand the capacity of capacitive touch panel, and improve the process automation of the rear module. It is expected that the proportion of capacitive touch panel and resistive touch panel will reach four to six

at present, the proportion of business machine application is about 25%, aerospace application is also about 25%, vehicle application is about 15%, and the proportion of medical application is reduced. The ratio of diesel to gasoline is about 5%-10%, including industrial control and other applications, accounting for nearly 30%

in the past few years, fuchengtong has benefited from the orders of aerospace displays such as Boeing and Airbus, which has driven the growth of performance. This year, due to the scheduling problems of customers' new models, the orders of aerospace products have decreased, which has affected the overall operating performance. However, the company stated that there are still 9 cases in progress, and the product cycle is years. As for the volume of new medical products, the situation is not as good as the customer originally expected, and the follow-up situation needs to be observed again

for the sharp decline in gross profit margin this year compared with last year, fujingtong explained that it was mainly due to the difference in product portfolio and the impact of exchange rate. In addition to the reduction of aerospace orders, new medical products, China's plastic machinery enterprises have increased the demand for new products in emerging markets of extruders in recent years, which is not as expected, and some industrial control customers are also adjusting the conversion of new and old models, which has affected the product portfolio. If the exchange rate last year is used to estimate, the gross profit margin may still be close to the 30% level this year, but the new Taiwan dollar appreciated more this year, resulting in a lot of decline in gross profit margin

in the third quarter of this year, the revenue of fujingtong increased slightly, the gross profit margin fell to 24.6%, which was the lowest in the past four years since 2014, and the operating profit and after tax net profit were similar to that of the previous quarter. However, due to the 20% cash capital reduction completed in September, based on the weighted average share capital after capital reduction, the earnings per share in the third quarter was about 0.89 yuan, with an increase of 11% in the quarter. The cumulative revenue in the first three quarters was about 664million yuan, with an annual decrease of 0.6%, the gross profit rate was 25.66%, with an annual decrease of 8 percentage points, the after tax net profit was 80million yuan, with an annual decrease of 40%, and the earnings per share was 2.25 yuan

in October, the revenue rose slightly to 80.46 million yuan, with a monthly increase of 0.22% and an annual decrease of 11%. 57%, and the cumulative revenue in the first 10 months still decreased by 1.9% annually. The company said that the revenue in the fourth quarter may be similar to that in the previous quarter, and the overall second half of the year should be better than that in the first half. However, compared with last year, this year, including revenue and profits, may be in recession

source: moneydj