Panel manufacturer Youda Q3 suffered a huge loss of more than NT $10 billion, and its revenue decreased by nearly 50% compared with the same period last year.
CTOnews.com October 27 news, according to Kuiheng net report, panel manufacturer Youda held a legal meeting on October 26, and announced the third quarter financial results.
According to the data, Youda's revenue in the third quarter was 49.732 billion New Taiwan dollars (about 11.19 billion yuan), down 20.91 percent from the previous quarter and 49.79 percent from a year earlier, and its gross profit margin was-14.61 percent, which turned negative from the previous quarter and the same period last year. The profit rate also expanded to-27.58 percent from the previous quarter; the quarterly loss of 10.426 billion New Taiwan dollars (about 2.346 billion yuan) was also larger than that of the previous quarter.
In the first three quarters of this year, Youda's cumulative revenue was 194.144 billion New Taiwan dollars (about 43.682 billion yuan), down 30.1 percent from the same period last year, with a gross profit margin of 3.17 percent, a year-on-year decrease of 23.18 percent, a profit ratio of-6.73 percent, and an after-tax loss of 10.893 billion New Taiwan dollars, all of which turned into losses compared with the same period last year.
In terms of shipments, Youda's total panel shipping area reached 3.876 million square meters in the third quarter, down 21.2% from the previous month and 39.9% from the same period last year.
CTOnews.com learned that Youda said that the overall channel inventory level in the third quarter was on the high side, coupled with the crowding out effect of global inflation, interest rate increases and other factors on terminal consumer demand, resulting in a reduction in panel volume and price, and further expansion of losses in a single quarter; looking forward to the current quarter, it is expected that the market will still need some time to adjust before it can return to a more normal supply and demand situation.
In addition, Youda stressed that in the face of the declining industry, the company will continue to strictly control inventory through sound financial and operational management, and promote a two-axis transformation strategy to enhance the company's operational resilience in order to pursue long-term and sound operating results.
