LianChuang Electron(SZ:002036)2022-11-22 03:08Financial Performance - In Q1 2021, the company achieved revenue of 2.28 billion, a year-on-year increase of 134% [4] - Net profit reached 36 million, up 50% year-on-year, while the net profit excluding non-recurring items was 30 million, a 100% increase year-on-year [4] - Compared to Q1 2019, the net profit excluding non-recurring items grew by 60% [4] Business Segments - Optical revenue saw a year-on-year increase of 76%, with significant growth in various segments: - Automotive optical revenue surged by 470% - HD wide-angle optical revenue increased by 52% - Mobile optical revenue grew by 66% - Touch display revenue grew by over 229% [4] - Inventory increased by 10%, while accounts receivable grew by 60%, indicating improved financial metrics [4] Market Developments - The automotive segment is entering a growth phase, with partnerships with Mobileye for EyeQ4, Q5, and Q6 series lenses, and successful bids for next-generation automotive optical products [5] - The company is expected to become the primary supplier for Tesla, with ongoing stable shipments [5] - HD wide-angle imaging modules have become a new growth point, with shipments expected to exceed 4 million units in 2021, recovering to 2018 levels [5] Challenges and Future Outlook - The pandemic severely impacted the action camera lens market, reducing it by nearly half [5] - The shortage of electronic materials has significantly affected mobile business operations [5] - The company anticipates substantial growth in Q2 2021 compared to Q1, particularly in automotive and HD wide-angle segments, while mobile business growth may be limited due to ongoing material shortages [9]