The impact of touch supply and demand and emerging

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The impact of touch supply and demand and emerging technologies on CHENHONG is looked down

although many people expect that the performance of f-tpk CHENHONG, a big touch panel manufacturer, will rebound significantly this month with the launch of Apple's new generation iPad products (driving the touch module to fit the order and increase the temperature). However, according to the latest report of Citi securities, the touch panel industry has faced the problem of oversupply, and emerging (touch) technology solutions may reshape the industrial landscape. Now it is considered that (f-tpk CHENHONG) may hit the bottom too early. Therefore, for f-tpk CHENHONG to keep selling sell and fully learn the Soviet Union's rating after liberation, the target price was also lowered from NT $280 to NT $5 after the completion of the experiment

according to the observation of Citigroup, touch panel has become a bulk commodity, and the market demand has shifted to low price/low-cost solutions. Not only more and more second-line manufacturers have entered the touch panel industry, resulting in increased competition pressure in the touch market, but also the penetration rate of touch notebook computers is still lower than expected

although the market was originally optimistic that the performance and profit performance of f-tpk CHENHONG in the fourth quarter of this year might rebound significantly, Citigroup believes that this may be difficult. Because of the harsh competitive situation in the touch panel market, for example, its American customer orders (apple, Amazon, etc.) are under increased pressure from the same industry (mainly from GIS, Shenghua, etc.), the penetration rate of the touch pen is rising slowly, and the price pressure of the touch panel is becoming heavier

in terms of the pen touch panel, according to the survey, the shipment of f-tpk CHENHONG's pen touch module in the second quarter of this year was about 6. Here are some details we taught our customers. It is estimated that the shipment in the third quarter may fall to 10000 units/piece, while f-tpk CHENHONG's market share in the pen touch panel may fall from 47% in the second quarter to about 35% in the third quarter (estimated)

Citigroup estimates that the earnings per share of f-tpk CHENHONG in the third quarter of this year was nearly NT $3.6. Looking ahead to the fourth quarter, it is estimated that f-tpk CHENHONG's revenue in the quarter is expected to rebound to NT $37.7 billion, with a quarterly increase of more than 20%, a single quarter gross profit margin of nearly 12%, an operating profit ratio of nearly 5%, and a single quarter earnings per share of nearly NT $5 in the fourth quarter. The total annual revenue in 2013 is estimated to be nearly NT $155.2 billion, with an annual decrease of about 10%. The earnings per share will be NT $32, which will be lower than that in 2012 (the earnings per share will reach NT $44)


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