Customers purchased goods early, and Fucai’s first-quarter revenue increased by 0.9% year-on-year.

According to news on May 9, LED manufacturer Fucai’s revenue in the first quarter of 2025 was 5.632 billion yuan (NT$, the same below), a quarterly increase of 2.3%, an annual increase of 0.9%, and a gross profit margin of 12.2%, a quarterly increase of 2.8 percentage points. The operating profit rate was -8.5%, which was the same as the same period last year, with a quarterly increase of 4.5 percentage points and an annual increase of 0.8 percentage points. The after-tax net loss was 442 million yuan. The loss improved from the fourth quarter of last year and the same period last year, and the EPS was -0.6 yuan.

In the first quarter of this year, Fucai's product revenue proportions were 22% for automotive, 9% for sensing applications, 10% for professional lighting, 14% for TV backlights, 19% for laptops/monitors/mobile phone backlights, 16% for display billboards, and 10% for others. Among them, in the value-added application (automotive, sensing, professional lighting) product category, the proportion of automotive revenue increased by 2 percentage points quarter-on-quarter, the proportion of professional lighting decreased by 1 percentage point, and the proportion of sensing remained the same.

Chairman Peng Shuanglang said that in the first quarter, thanks to some customers purchasing goods early in response to tariffs, the single-quarter revenue performance was good compared to the traditional off-season. The company continued to improve costs and expand high-value products, thereby gradually narrowing losses. However, the increase in inventory in the first quarter will be the focus of future management, but the overall financial structure is healthy.

The proportion of Fucai's direct shipments to the United States is very low, and there is also a high proportion of risk aversion in foreign exchange positions. The loss risk ratio is relatively low. However, exchange rate changes will still cause upward pressure on costs. The company will strictly control costs and expenses, develop towards a light-asset and high-added value model, and stabilize the company's financial position.