LED automotive lighting module maker Laster Tech has attained an about 20% market share in China and will also beef up marketing in the US and Europe, aiming at a global market share of 30% in 10 years, according to the company.
In China, Laster Tech is the largest OEM of LED automotive lighting modules for China-based automaker Great Wall Motors and a main supplier for China-based electric vehicle maker BYD as well as automotive lighting makers Shanghai Koito Automotive Lamp, Guangzhou Koito Automotive Lamp and Varroc TYC Auto Lamps, with Great Wall Motors accounting for 44% of revenues and Shanghai Koito for 23%, the Taiwan-based maker said.
Laster Tech has obtained new orders for more than 100 models of LED automotive lighting modules, including 9-10 models of headlights, and will begin shipments in 2017-2018, the company said. Laster Tech has begun production at a new factory in Shanghai, and currently utilizes about 70% of its capacity. The factory takes up 30-40% of Laster Tech's total production capacity and will contribute to shipments for the new orders.
While Laster Tech recorded net EPS of NT$1.85 (US$0.058) for the first three quarters of 2016, market analysts expect the company to generate net EPS of NT$3.5 for 2016 and NT$4.0 for 2017.
Laster Tech started trading on the Taiwan Stock Exchange at an initial price of NT$30 per share on December 19.
Article translated by Adam Hwang
