Yuyuan Optoelectronics (3061) In December 2010, the revenue fell to NT$300 million, a monthly decrease of 25% and an annual increase of 39%. The performance was lower than market expectations. Accumulated total revenue for the year of 2010 reached 4.637 billion yuan, an annual increase of about 122%. Among them, 4Q single-quarter revenue reached 1.1 billion yuan, a quarterly reduction of 23%.
Yu Yuan pointed out that it was mainly affected by factors such as the downstream customers' inventory and the weakening demand for lighting applications. It is expected that the performance in January 2011 is expected to rebound to the level of November (estimated at about 400 million yuan, estimated monthly growth rate of 30%), and overall 1Q11 performance will be better than last quarter.
According to industry estimates, the utilization rate of 4Q capacity rate may be reduced to 35%. It is estimated that the net profit after tax in 4Q will be reduced to 2.3-250 million yuan, and the quarter will be reduced by 40%. The accumulated net profit after tax for the whole year of 2010 is estimated to be 1.3 billion yuan.
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