LED automotive lighting module maker Laster Tech has reported consolidated revenues of NT$501.9 million (US$16.7 million) for January, slipping 33.21% on month and 10.68% on year.
The decrease in consolidated revenue was mainly because of fewer working days due to 2023 Lunar New Year holidays in late January, Laster said. Monthly consolidated revenues are expected to remain at a low level in February and then rebound in March, Laster noted.
Laster focuses on the Chinese market. China recorded production of 27.021 million cars and sales of 26.864 million ones in 2022, respectively growing 3.4% and 2.1% on year, Laster cited China Association of Automobile Manufacturers as indicating. As the Chinese government eased anti-COVID-19 measures at the end of 2022, sales of new cars in the China market will increase to 27.60 million ones in 2023, Laster indicated.
Currently, demand from first-tier suppliers for automakers in China, mainly HASCO Vision Technology, Hella Automotive Lighting and Guangzhou Koito Automotive Lamp, is stable and orders for new models from own-brand automotive lamp makers including Magneti Marelli Automotive Lighting System and ZKW are increasing, Laster said. Particularly for LED automotive lighting modules used in new energy cars, orders on hand at present increase 20% on year, Laster noted.
Laster completed expansion of production capacity for controllers of LED automotive headlights at its factory in northern Taiwan in the fourth quarter of 2022, with US-based automakers being major clients.
Article translated by Adam Hwang
