Chilisin group’s consolidated monthly revenue for May 2019 reached US$44,2 million, up 4.19% MoM and down 0.31% YoY. Accumulated revenue of 2019 reached US$206,25 million, up 12.40% YoY.
Chilisin’s individual revenue of May 2019 was US$16.25 million, up 4.50% MoM and down 18.82% YoY.
MagLayer’s individual revenue of May 2019 was US$8.24 million, up 5.77% MoM and down 6.94% YoY.
Magic’s individual revenue of May 2019 was US$4.39 million, up 1.27% MoM and down 11.74% YoY.
Due to the impact of Sino-US trade war, the above-three mentioned inductor companies were not performing as good as expected, particularly in the power module and networking segment. PC-related customers also haven’t completely overcome the problem of Intel CPU supply. Affected customers shipment, coupled with a higher last year revenue comparison base, has caused YoY to decline. Nonetheless, Chilisin, Maglayers, and Magic are still actively expanding their business in the middle of struggling market conditions. The revenue in May, though, was higher than the previous month. Among these three inductor companies, Chilisin’s revenue increased mainly due to the rise of China distributors’ orders both in terms of the sales price and volume of the molded inductor and wire-wound inductor, recorded the highest monthly revenue of 2019.
Ralec’s individual revenue of May 2019 was US$8.85 million, up 2.80% MoM and down 50.98% YoY. Although the demand of the European customer base has weakened due to the decline in automotive market and supply chain control inventory level, Greater China customers’ inventory has gradually digested and customers begin to restock their inventory, resulted in growing MoM revenue. On the other hand, the overall demand was still affected by the Sino-US trade war and the inventory destocking hasn’t returned to normal level yet. These factors, together with higher last year revenue comparison base has caused lower YoY revenue.
Ferroxcube’s individual revenue of May 2019 was US$6.5 million, up 5.43% MoM and 3.46% YoY, due to the company’s effort in penetrating the Mainland China’s mobile phone customer has begun to yield good results.
Although the market conditions remain uncertain, Chilisin Group has managed to diversify related risks through early plant layout in Vietnam, Malaysia, and Poland. The three inductor companies will continue to push up revenues in the automotive sector, artificial intelligence, and 5G sectors. Although the resistor market declined in ASP, the inventory of direct customers and distributors in Greater China has begun to dissolve, the orders have gradually recovered, and the capacity utilization rate has increased; Ferroxcube's recent increase in new orders for new energy vehicles and DC-DC 48V (Mid-Hybrid) will also contribute to the growth of the 2019 fourth quarter results. Therefore, Chilisin group expects to have good growth momentum in 2019.
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