Due to Branded Automakers' Strong Stockpiling, Laster Tech's September Revenue Up over 50% Year-on-year

Taiwanese automotive LED module manufacturer Laster Tech announced its September 2020 operating results. Due to the strong shipment of automotive LED modules, its September revenue was NTD 454 million, up 24.19% MoM and 50.84% YoY. The consolidated revenue in 3Q20 was NTD 1.246 billion, up 25.34% YoY, a record high quarterly revenue for the same period in history.

According to Laster Tech, the company's September revenue grew month-on-month and year-on-year despite the appreciation of the NTD exchange rate, benefiting from the increased demand from major customers for its automotive LED modules as branded automakers enlarged stockpiling after the traditional summer recess.

In addition, automotive LED penetration rate remained high, and the new car sales market in China gradually picked up, boosting sales to major customers. In particular, new car models entering mass production in July sold well in the Chinese market, boosting shipments of LED taillight modules to Laster Tech, which is the key to the strong performance in the third quarter.

Looking ahead to the fourth quarter of this year, Laster Tech expects its operations to continue to benefit from the increased penetration of the automotive LED lighting market and the growth of the new car sales market, demonstrating its explosive power. The capacity utilization of Laster Tech's Shanghai plant is nearing full capacity, and the production line is currently being restarted to meet the increased demand for orders; the new large order of LED headlight controllers from Guanyin Taoyuan is also undergoing factory certification and equipment adjustment as planned, and is expected to be officially shipped in the fourth quarter of next year.

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