Financial Highlights:
-- Revenue increased by approximately 27.7% to
-- Gross profit was
-- Gross margin was 38.9%, increased 13.1% points
-- Profit attributable to owners of the parent was
-- Earnings per share was 0.43 US cent (equivalent to 3.33 HK cents)
-- Book-to-bill ratio reached 2.0
Business Review
Leverage on the Group leading innovation capability and agility in tapping into market trends, we achieved encouraging results and performance in 1H21. We optimized our product mix with a focus on products of emerging demand that benefited from the evolving market trend, including those with a higher gross profit margin.
New Display
New Display ("ND") products mainly refer to our bistable display products. Bistable display is a non-traditional display technology where the display device is illuminated by reflecting ambient light. In the first half-year of 2021, the Group's R&D team has overcome challenges to manipulate multiple driving voltages. The successful launch of Spectra(TM) 3100, the next-generation electronic paper (e-paper) display, echoed the Group's unwavering commitment to go the extra mile and its perseverance to achieve and excel. The group has envisaged the potential of e-paper display technology and has never stopped researching the latest technologies. Spectra(TM) 3100, the next-generation ink platform launched by E Ink Holdings in the first half of 2021, evidenced the technological advancement of the Group.
Additionally, the Group has achieved a significant ESL project from two leading ESL System Integration Solution Providers in early 2021. It is expected that the ESL with
OLED Display
OLED display products include PMOLED bistable display products, micro-LED/mini-LED products and OLED lighting products. Notably,
During the period under review, the Group launched the production of the SSD7317 - the world's first Touch and Display Driver Integration ("TDDI") IC for targeted use in smart home products. This innovative breakthrough is now poised to take the product user experience to new heights. The Group has achieved related design-in projects and has commenced mass production of the IC for adoption in smart thermostat electric kettles.
Handheld healthcare devices received overwhelming demand during the pandemic since higher healthcare standard in working and living environment was maintained globally after the outbreak of COVID-19, which in turn drove our sales in OLED display business during the period under review.
Into 2021, the Group is devoting more resources to developing new micro-LED products and aspires to attain technological breakthroughs of its market-leading micro-LED display IC solutions. The group provides total solutions from design to mass production delivery in micro-LED display IC. The Group possesses the most advanced IP database dedicated to the micro-LED display and is well-positioned to offer the ultimate solution for micro-LED display driver applications. The Group has signed strategic cooperation agreements with industry-leading companies and obtained orders, laying a foundation for the mass production of related products in the near future.
Mobile Display and Mobile Touch
The Group's Mobile Display and Mobile Touch ("MDMT") products include In-Cell Touch Display Driver IC (TDDI), TFT Display Driver IC, STN Display Driver IC, MIPI Bridge IC, and Touch Controller IC.
In the first half of 2021, the Group has developed a number of new driver products and custom ICs and launched IoT TDDI for the application in wearable products. It is the world's first TDDI chip for IoT and wearable application with excellent touch and ultra-low power consumption performance. At the same time, in the view of increasing demand on quality and speed of gaming experience,
Large Display
In addition to ND, OLED and MDMT products, the Group also offers another range of display products, such as Large Display ("LD") products including large panel TFT LCD display driver ICs developed for TVs, monitors and other applications etc. For LD driver IC business, the group has launched its high-speed Peer-to-peer (P2P) display driver IC for the 165Hz high refresh rate gaming monitor and 8K TV during the period under review. We will continue with its marketing plans to promote the higher functionality display IC for this segment.
Prospects
We are well-positioned to capture the vast opportunities presented by the evolving market landscape and thriving demand. We aspire to enlarge our market share and maintain the position as one of the world's leading semiconductor players with global influence. Given the uncertainty in the semiconductor industry due to the insufficient capacity of wafers, the group has to face various challenges in the coming years. It is expected that the prices of display ICs will continue to increase in 2021 and beyond as more companies are rushing to obtain supply from the fabs to allow undisrupted production.
To overcome the shortcoming of increasing price, the group will aspire to enhance product quality and development. The rapid growth of the market demand is being fueled by demand from PMOLED wearables, smart home solutions, and IoT/AIoT solutions, thanks to the distinct features of enhanced display quality, bendability, and transparency. At the same time, consumers' pursuit of product versatility and lightweight design is forcing brand owners to look for sophisticated IC solutions with unique features.
Moreover, mini-LED display has the potential to become the next-generation mainstream. The group is optimistic about the prospects of mini-LED display and is stepping up its research in offering the ultimate solution for mini-LED display driver applications with increasing resources to achieve technology breakthroughs.
Mr.
Media Enquiry:
Corporate Communications Manager
Tel: (852) 2207 1672
Fax: (852) 2207 1372
Email: sylviali@solomon-systech.com
General Manager
Tel: (852) 3150 6763
Fax: (852) 3150 6728
Email: kelly.fung@pordahavas.com
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