Can the Recovery of PCB Market Cross the Traditional Off-season in the Second Quarter

Global PCB proofing service providers have learned that Huatong's momentum has decreased due to the alternation of new and old models of American customers' mobile phones in April. From May to June, China's mobile phone orders will increase. American new mobile phones will be shipped at the end of June and early July. It is estimated that the revenue in the second quarter will be 11.699 billion yuan, the gross profit margin will be 14.24%, and EPS will be 0.56 yuan. In the second half of this year, American and Chinese mobile phones and parity NB will have momentum, and the revenue will increase quarter by quarter, It is estimated that this year's revenue is 56.189 billion yuan, an annual increase of 4.12%, and EPS is 357 yuan.

Taijun's revenue in April was in line with expectations, but it was still relatively flat in May in the traditional off-season. Since June, the new mobile phone softboard of American series will be shipped, and the operation is expected to increase. It is estimated that the revenue in the second quarter will be 4.472 billion yuan, a decrease of about 18.15% in the quarter. Because of the low capacity utilization in the off-season, the gross profit margin decreased to 14.16% and EPS was 0.3 yuan. In the second half of the year, there were doubts about the replacement of wireless charging softboard orders, Therefore, the revenue will decline. However, high-frequency and high-speed products are expected to have more orders for shipment, and the short-term revenue is under pressure. However, in the future, the fermentation of high-frequency material technology will expand the market application. It is estimated that the revenue this year will be 26.846 billion yuan, with an annual increase of 3.87% and EPS of 7.58 yuan.

Jieduobang learned that Yaohua's revenue in April also met expectations. It is estimated that Yaohua's revenue grew slightly in May and June. The revenue in the second quarter is 4.593 billion yuan, the estimated gross profit margin is 15.27%, EPS is 0.31 yuan, and the third quarter is the peak season of the year. Among various applications, the growth of American customers' headphones and battery management modules is higher, but the growth in the second half of the year may not be as strong as that in the second half of last year. It is estimated that the revenue this year is 19.921 billion yuan, The gross profit margin was reduced to 16.11%. With the increase of tax rate, EPS was 1.55 yuan.

In the second quarter, Zhending was in the alternation period between new and old products of American customers, which was the low point of the whole year. It is estimated that it will gradually increase from May to June. When new mobile phones start to sell goods in June, it is estimated that the revenue in the second quarter is 18.51 billion yuan, a quarterly decrease of 18.51%, the profit of the parent company is 297 million yuan, a quarterly decrease of 58.74%, and EPS is 0.37 yuan. This year, EPS maintains the estimate of 6.92 yuan, which is still neutral.