To seize the UVC LED business opportunity, Huaxing's June revenue hit a new high in nearly two years
Since the second quarter of this year, Huaxing Electronics, a manufacturer of LED packaging modules, has gradually improved its business promotion and cost control. Its revenue in June reached 81.7 million yuan (NTD, the same below), setting a new record since April 2019 and the second this year. Quarterly revenue also set a new high in eight quarters, with a quarterly increase of 6.76%. As UVC antibacterial products were sold out of stock, and low-temperature lighting orders have also returned steadily, Huaxing aims to turn losses into profits this year.
Huaxing pointed out that although last year’s consolidated revenue decreased by 16%/a record low due to the global new crown epidemic, the company avoided the Red Sea market and used differentiation and customization as a niche, and actively promoted the LED indicator and lighting products business. This year's performance has recovered steadily, and through cooperation with distributors and brand owners, it has maintained growth.
On the other hand, Huaxing stated that the company has promoted organizational changes, recruiting talents, strategic cooperation, and new business development in the past year. The benefits have gradually emerged. In addition to maintaining basic customer contacts and returning low-temperature lighting orders, it has also entered niche applications In the market, Huaxing has cooperated with Signify in Taiwan to commercialize UVC antibacterial and inactivating products, and sales have recently been hot.
At present, LED components account for 50% of Huaxing’s revenue, commercial lighting accounts for about 20%-25%, and low-temperature lighting accounts for about 10%-15%. The company will also add UV purification technology product lines BioLED, AI smart control, Plant lighting is developing towards the integration of local engineering projects. (Source: MoneyDJ)