Novatek's inventory in the fourth quarter of last year was 12.028 billion yuan, a quarterly decrease of about 30%, and the number of days dropped from 111 days in the previous quarter to 98 days. It is expected that the first quarter of this year will be further reduced, and the second quarter has a chance to return to seasonal levels.

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[Reporter Hong Youfang/Hsinchu Report] Panel driver IC manufacturer Novatek (3034) held an online seminar today. Vice Chairman and General Manager Wang Shouren released the good news of inventory reduction. He pointed out that Novatek’s inventory in the fourth quarter of last year It is 12.028 billion yuan, a quarterly decrease of about 30%, and the number of days has dropped from 111 days in the previous quarter to 98 days. It is expected that the first quarter of this year will be further reduced, and there is a chance to restore the seasonal level in the second quarter.

The first quarter is the traditional off-season, and customers continue to adjust inventory. Novatek takes the US dollar to NT dollar exchange rate of 1:30 as the assumption base, and estimates the revenue in the first quarter to be between NT$22.2 and NT$23.2 billion, with a median of about The quarterly growth rate was 1.24%, showing a strong trend in the off-season. The gross profit margin was 37.5%-39.5%, and the operating profit margin was 20%-23%. .

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Wang Shouren said that at present, there are urgent orders for high-end notebooks and other products, which has driven the revenue to be about flat to slightly increased this quarter. It is estimated that the revenue will be better than the seasonality. caused by higher costs.

For major applications, large-size TVs, high-end notebook screen products, OLEDs, and system-on-chips will show quarterly growth, TV products will remain flat, and small and medium-sized products will decline.

It is estimated that in the second quarter, driven by the shipment of new products and new models from customers, the operation will have an opportunity to improve.

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