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Trade war affects MCU market, Sheng group Q4 revenue or minus 10%

Form: MoneyDJ 2018/11/1 Browse:196 Keywords: Sheng group Q4 MCU

Shengqun is facing the impact of the overall MCU market by the trade war, so the traditional double eleventh and pre-Christmas solicitation is not as prosperous as in previous years, and Shengqun 32-bit in the lack of mobile phone customer contribution, but also into the Chinese brand wireless headphone charger, looking forward to other new cases can be released as soon as possible. For the whole year, the industry estimates that revenue will be a small year, profit will be superior to last year's results; next year, the market is fuzzy, the first year to stabilize the performance of this year.

In the third quarter, MCU's revenue fell 5.33% to 11.93% a year, while its gross margin slightly dropped to 49.36% from 50.25% in the previous quarter. Outside, it suffered a foreign exchange loss of 25 million yuan, as well as a slight leveling off of re-investment and interest earnings. EPS fell to 1.16 yuan from 1.38 yuan in the previous quarter.

According to the third quarter of revenue and product proportion, MCU accounted for about 76% of revenue, the rest of the electronics peripheral IC 24%. In terms of MCU shipments, last year it was 449 million, rising to 504 million this year, increasing by 12% annually.

In the third quarter, the proportion of MCU applications was 38% for household appliances, 19% for industrial control, 11% for health monitoring, 7% for computer devices, 6% for security control, 2% for toys and education, 2% for Internet banking, and 15% for others. Among them, the growth of industrial control, health care, computer category is more obvious, the poor shipment is wireless charging, motor control, Shengqun said, because mobile power into the brand factory customers, so the shipment situation is better than expected, plus blood glucose meter, competition related to the surrounding product market demand is good, wireless charging And motor control customers enter the inventory adjustment phase.

The 32-bit product shipped about 60 million units in the fourth quarter of last year and the first quarter of this year, mainly due to the strong pulling capacity of mobile phone customers. However, as the product life cycle came to an end, there were no new cases developed with the customer. In addition, many new cases have not yet begun to be fully released, so the shipment volume returned to 29.31 million units in the past. Standard.

Shengqun said that many 32-bit products have been developed this year, and have entered the supply chain of Chinese brand wireless headset chargers. In the third quarter, small shipments have begun. It is expected to contribute in the fourth quarter. Case and mass production. Sheng Group expects that the 32 bit MCU will have about 15 million shipments this year, which will be better than 11 million last year.

There has been continuing concern that wireless charging is expected to be restarted in the second quarter of next year due to strong customer pull capacity in the first half of the year, while motor-controlled shipments of air cleaners in China are expected to be restarted in the first quarter of next year.

In the face of the trade war, Shengqun said that the consumption power of the Double Eleventh Movement was not as strong as it used to be. At present, the demand for orders is not obvious. There is indeed a conservative and slow trend in the opening of new cases, but it also saw opportunities for the flock. As the company's market is mostly concentrated in China, the products are quoted in Renminbi and sold in emerging markets. When the currency depreciates, it has a more cost advantage, plus the flock does not reflect rising costs, and ASP is stable, expecting to survive the impact of the trade war.

As for the status of the substitutes, Shengqun said that the MCU more in the 8-inch plant, which was seriously inadequate before, is still tight, but there is no situation like in the past, there are also plans to move to 12-inch, pending the follow-up of new products may move.

Looking forward to the fourth quarter, by the double eleventh and pre-Christmas stockpiling capacity is not as good as last year, so the industry expects revenue will be reduced by 10% quarterly, profit situation is not as good as the same period last year; for the whole year, revenue will be a small annual increase in the number of figures, gross margin due to a good product portfolio shipment, profit will be better than last year.

Looking ahead to next year, Shengqun said that due to the impact of the trade war on the market, and strive to maintain the level of revenue this year, kinetic energy includes 32-bit new cases, as well as new health testing, security, mobile power, etc. Industry insiders expect that the first quarter of next year will still be the off-season industry, revenue will be reduced by 10%, profit may not be as good as the same period last year; year-round, affected by the trade war, the international MCU factories for the market situation is conservative, for the end market demand situation, still need to continue to observe.

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