The hottest st rainbow Xianyang line 3 turns solid

2022-08-18
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*On December 17, *st Rainbow (600707, closing price of 7.34 yuan) announced that the company has made great progress in the production and R & D of liquid crystal substrate glass. Following the acceptance of Xianyang liquid crystal substrate glass cx02 line in June 2012, cx03 line has also reached the standard of carrying forward fixed assets of projects under construction, and recently passed the acceptance of carrying forward fixed assets

a securities analyst who did not want to be named told the daily economy that the conversion of the two generation 5 lines to fixed assets means that the company has gradually enriched its production experience, and the conversion speed of the remaining production lines is expected to accelerate; When all the 5th and 6th generation lines of the company are put into operation, it will have a scale effect, thereby further reducing costs

it is noted that the performance of * ST rainbow in the first three quarters of this year is still poor; In order to turn around losses, the company has begun to sell assets - today's system features large consumption and complex equipment. On the day of the company's announcement, it has transferred the equity of Western trust and two real estate properties

there is a large space for import substitution of glass substrates

"*st rainbow has another generation 5 line to be converted to fixed assets, which means that the production line has passed the stage of small batch certification and is likely to have obtained a stable source of orders; other production lines of the company are expected to accelerate the conversion to fixed assets. Considering that the domestic demand for glass substrates is mostly solved by import, there is a huge space for replacement in the future." A securities analyst told me so

The sales volume of the whole industry exceeds 400billion yuan

according to the data, the glass substrate industry is located in the upstream of the LCD industry chain. It is the basic component of the LCD panel and capacitive touch screen industry, and has the characteristics of technology intensive and capital intensive

Huatai Securities also mentioned in the latest research report, *st rainbow currently has 7 G5 lines and 6 G6 lines. It took three years for cx02 line to be converted to fixed assets. Cx03 is more difficult, and it took only more than one year to convert to fixed assets; Based on the precipitation and accumulation of the company's technology, the conversion of other production lines to fixed assets will be further accelerated, and the new capacity will be highly reproducible in the future, which is expected to break through the barrier of higher generation lines

the daily economy noted that * ST rainbow glass substrate business has begun to increase in volume. Financial data show that the company's new industry achieved a total revenue of 121 million yuan last year, accounting for 48% of the company's total revenue, an increase of 23.4 times year-on-year; A total of 1148600 G5 and G6 liquid crystal glass substrates were produced, and 621000 substrates were sold, with a year-on-year increase of 4.5 times and a gross profit margin of 30.74%

the above securities analysts said that the domestic demand for substrate glass is huge. It is conservatively estimated that the 5th generation line glass substrate is about 8million pieces, and the 6th generation line glass substrate is about 4million pieces; At present, domestic glass substrates are mainly imported, and Corning, Asahi and neg occupy most of the domestic market* St rainbow's glass substrate has price advantages, but it needs to vigorously develop the market; After the 5th and 6th generation lines of the company are put into operation, it will have a scale effect, which will further reduce costs and be conducive to market development

*st rainbow one staff member also said in an interview that Taiwan group innovation has become a major customer of the company and has sales to BOE and other domestic manufacturers

sell assets and hope to turn losses

it is noted that * ST rainbow was once the leader in the production of color kinescope in China. However, with the rise of LCD and other emerging display technologies, the company's performance has gradually declined. In recent years, *st rainbow has been in a loss state and no particle state has been found

in 2011 and 2012, the company was labeled as a "hat" of *st due to losses of 518 million yuan and 1.722 billion yuan respectively. For the huge losses in 2012, *st Caihong said that the piston was lifted by the connecting rod hinged with the horizontal plate to the new industrial project, which did not produce benefits and made provision for asset impairment, resulting in losses

although the glass substrate business began to increase in volume, the operation of *st rainbow this year is still not optimistic. Financial data show that the company achieved a revenue of 126 million yuan in the first half of this year, an increase of 45.46% year-on-year; However, the net profit was a loss of 56.7816 million yuan. The net profit in the first three quarters of this year was 966.987 billion yuan

"daily economy" noted that in order to turn around losses, the company has begun to sell some assets. The company announced today that it has transferred 5.01% of the equity of Western trust at a price of 245million yuan, successfully listed and transferred Xianyang No. 1 industrial real estate at a price of 215million yuan, and transferred Xi'an No. 1 real estate at a price of 7.1 million yuan; The transfer of 51% equity of rainbow (Foshan) tablet company will be suspended due to no interest; Another real estate auction in Xi'an failed to close and will continue to be disposed of. The company also said that the income from asset (equity) transfer will have a significant impact on the company's 2013 annual performance. Zhonghua glass () Department

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