Jingmei Announces Downgrade of Dividends to Reserve Cash to Respond to Changes in Sapphire Market

[High-tech LED News] Taiwan sapphire substrate manufacturer Jingmei (4990-TW) recently announced the adjustment of the dividend allotment policy, from the original per share cash dividend of NT$7.64, to a dividend of 2 yuan per share and cash. The dividend is 3 yuan, and the case will be delivered to the EGM resolution on September 2.

In 2010, under the favorable market conditions of LED sapphire substrates, the EPS was as high as 9.61 yuan. The shareholders' meeting decided to find a gold dividend of 7.64 yuan. However, the price of sapphire substrates has continued to decline rapidly. Jingmei wants to keep more cash in hand and face the future of the industry. The market has changed, so the resolution reduces the allotment of dividends.

At present, the market demand for sapphire crystal rods and substrate factories is weak, and the price of sapphire substrates has been changed from quarterly to monthly. The price of 2-inch sapphire substrate continued to fall in July, and the current agreement has dropped to 20-22 US dollars. The industry pointed out that the price has shown a downward trend in the second half of the year. It is reported that the price of August is more than 25% lower than that of Q2, and Q3 will be 20 US dollars. The defense of the mark.

In addition to Jingmei, Taiwan’s sapphire substrate manufacturer, Zhaojing (4969), a subsidiary of Hon Hai Group, took the lead in adjusting the dividend policy at the end of May, and revised the original cash dividend of 2 yuan and stock dividend by 2 yuan to 0.5 yuan in cash and 2. yuan.

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