LED automotive lighting maker Laster Tech has obtained orders for three LED headlight models from China-based automotive lamp vendors, with shipments to begin in the second quarter of 2016, according to the company.
Laster said it supplies LED automotive lamp modules used in China-based automaker Great Wall Motors' Haval SUV models, with supply taking up 95% of total demand, and it is the exclusive OEM for Shanghai Koito Automotive Lamp, a China-based automotive lighting vendor.
Great Wall Motors sold 415,300 Haval SUVs in China and was the top SUV vendor in first-half 2015, with unit sales increasing 19.56% on year, Laster indicated.
Laster said it currently occupies 25% of the China LED automotive lighting market, with shipments focusing on LED taillights and daytime running lamps.
Currently, LED penetration for automotive taillights and daytime running lamps is at 60-70% globally and 50-60% in the China market alone, Laster said.
Since prices for LED automotive headlights are 5-6 times those for HID (high-intensity discharge) models, global LED penetration is only about 5% at present. However, LED penetration for headlights is expected to rise to a global average of 10% and 5-7% in the China market in 2016, Laster indicated.
In view of the large growth potential in China, Laster said it will expand production capacity in Shanghai by 50% in first-quarter 2016.
For first-half 2015, Laster posted consolidated revenues of NT$1.345 billion (US$42.7 million), gross margin of 20.75%, net operating profit of NT$105 million, net profit of NT$57 million and net EPS of NT$1.03. Laster expects 2016 consolidated revenues and net profit to grow by over 20% on year.
Article translated by Adam Hwang
