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Laster sees strong growth in March revenue

LED automotive lighting module maker Laster Tech has reported consolidated revenues of NT$618.6 million (US$21.7 million) for March, hiking 71.30% sequentially and 81.52% on year.

The growth was driven by strong demand for such modules used in automotive headlights and taillights as well as deferred shipments originally scheduled for February, Laster said. As several new car modules launched in the China market have been well received, especially SAIC Volkswagen Lavida and Honda X-RV, shipments to corresponding automakers in March greatly increased, industry sources said.

The global market value for LED automotive lamps will keep increasing from US$6.4 billion in 2022 to over US$14.7 billion in 2032 at a compound annual growth rate (CAGR) of 8.6%, Laster cited Fact.MR as indicating. The 10-year CAGR for LED automotive headlights is 10.3%, which will be conducive to increasing shipment proportion for LED automotive headlight modules, Laster indicated.

To cope with the COVID lockdown in Shanghai, China, Laster has temporarily reduced production with only a portion of workforce remaining to work at its factory there, the company said.

Laster posted consolidated revenues of NT$1.542 billion for first-quarter 2022, dipping 5.60% sequentially but rising 2.77% on year.

Fellow maker Excellence Optoelectronics has reported consolidated revenues of NT$296.3 million for March, increasing 17.22% sequentially but decreasing 19.84% on year, and those of NT$927.0 million for the first quarter rose 6.45% sequentially but dropped 5.75% on year.