Jufei Optoelectronics achieved revenue of 508 million yuan in Q1, and net profit fell 6.29% year-on-year

On April 23, Jufei Optoelectronics released its first quarter report of 2022, stating that the company achieved operating income of 508 million yuan in Q1, a year-on-year decrease of 7.82%; net profit attributable to shareholders of listed companies was 52.3858 million yuan, a year-on-year decrease of 6.29%; net profit after deducting non-recurring gains and losses was 46.6832 million yuan, a year-on-year decrease of 2.25%.

According to the data, Jufei Optoelectronics' main business is LED packaging. It is located in the middle and upper reaches of the LED industry chain and is currently the leading company in the production of backlight LEDs in mainland China. The company specializes in the research and development, production and sales of SMD LED devices. Its main products are backlight LED products and lighting LED products, which are energy-saving and environmentally friendly. After years of accumulation, the company's leading position as a domestic backlight LED packaging company has been further consolidated. The company's R&D technology, product quality and production scale are at the leading level among domestic peers.

Jufei Optoelectronics said that at this stage, Mini LED technology is maturing, the market is booming, and costs are decreasing year by year. Under the leadership of leading manufacturers, many companies have launched laptops, monitors, TVs and other consumer electronic products equipped with Mini LED technology, driving the demand for Mini LED to increase year by year, and it has become one of the products with the most growth momentum in the LED segment. The company's Mini LED products have been widely used in laptops, TVs, VR and other fields with the advantages of high color gamut, high brightness, high contrast, and stable quality and performance. As the preferred supplier, it has won unanimous praise from many key customers. The product is expected to grow rapidly and gradually become the driving force for the company's performance growth.

Looking into the future, in the LED sector, Jufei Optoelectronics will rely on backlight LED and lighting LED to make it more refined, stronger and bigger, strengthen the company's leading position in backlight LED, and continuously expand its market share; extend horizontally to related segments within the LED industry, and actively develop automotive LED, Mini/Micro LED, invisible light, high-end lighting, etc.

In terms of semiconductor packaging, Jufei Optoelectronics will base itself on the LED industry and expand into semiconductor packaging (discrete device packaging), such as power devices, optical devices, etc. For the power device business, it will mainly adopt an epitaxial approach to expand; for the optical device business, it will rely on the FTTX market to extend horizontally into areas such as data communications and data centers.

Jufei Optoelectronics emphasized that due to the impact of the epidemic, the international supply and demand of bulk commodities, logistics and other factors, the upstream raw materials may face the risk of price increases and insufficient supply, which will have an adverse impact on the company's production and operation. In order to cope with the risks of raw material price increases and supply fluctuations, the company will actively optimize supply chain resources, advance material payments to lock in prices, reasonably arrange procurement and stocking plans, refine management costs, and continue to reduce product costs through technological upgrades, process optimization, lean management, and improved economies of scale, so as to minimize the cost fluctuations caused by raw material price increases and supply fluctuations.