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When Huawei shares in Suzhou Qinghong electronics, will the domestic connector market change dramatically? ​

via:博客园     time:2020/1/20 22:32:13     readed:73

Recently,Huawei's investment firm

On January 17, the company's registered capital increased from $46.59555399 million to $68.66424107 million, or $22.06868708 million, according to data from the company. If the increased registered capital is a share of hubble's investment, it could be 32.14%.

In addition to the new Hubble investment, the other two major shareholders of Qinghong electronics are qingdafeng enterprise management (Kunshan) Co., Ltd. and Ningbo Miao Difeng management consulting partnership (limited partnership). According to the data of tianyancha, the shareholding ratio of Ningbo miaodifeng management consulting partnership (limited partnership) is 12.8%.

It should be noted that qingdafeng enterprise management (Kunshan) Co., Ltd. is a 100% holding company of Xu Zhiying, legal representative and general manager of Qinghong electronic, and Ningbo miaodifeng management consulting partnership (limited partnership) is also a holding company of Xu Zhiying. Xu Zhiying is the largest shareholder and actual controller of Qinghong electronics.

According to the data, Qinghong electronics is an enterprise specializing in connector products. The company integrates product R & D, production and sales. Its main products are industrial connectors and consumer electronic connectors. The products are suitable for communication networks, computers, servers, communication exchanges, smartphones, laptops, digital cameras and other fields.

Before taking a stake in qinghong electronics,Huawei has invested in shandong tianyue, jiehuate microelectronics, deep-thinking artificial intelligence robots, suzhou yutai car, shanghai kunyou optoelectronics, wuxi hoda and many other upstream enterprises, strengthening the layout of the upstream supply chain.

Obviously, Huawei's stake in Qinghong electronics may have a great impact on Huawei's future connector supplier pattern and even the pattern of domestic connector market. After all, as the world's largest communication equipment manufacturer and the second largest smartphone manufacturer, Huawei has a huge demand for connectors, and many domestic connector suppliers have benefited greatly from the cooperation with Huawei in recent years. If Huawei will gradually turn its orders to Qinghong electronics, the existing connector market pattern will be broken.

What are the connector vendors for Huawei?

According to previous research reports of the FMI, the global cable and connector market revenue is expected to reach US $125.3 billion by 2022, with a compound annual growth rate of 11.1% in 2016-2022.

As the world's top communication equipment supplier and the world's top three smartphone manufacturers, Huawei has a huge demand for connectors / cables.

According to previous public information, AVIC optoelectronics, Lixun precision, Derun electronics, Changying precision, Xinwei communication, aerospace appliances, MOLEX, Yonggui appliances and Yihua are all connector suppliers of Huawei.

AVIC Optoelectronics

Founded in 2002, AVIC Optronics is a high-tech enterprise in China that specializes in providing interconnection technology solutions for defense and high-end manufacturing of military industry. Headquartered in Luoyang, it has branches and subsidiaries in Xi'an, Shenzhen, Dongguan, Shenyang, Qingdao, Taixing and Hefei. Listed on Shenzhen Stock Exchange in 2007. At present, it has independently developed more than 300 series and 250000 varieties of various connection products, and is the largest enterprise engaged in the production and research of optical, electrical and fluid connectors in China. By the end of 2018, the company has obtained more than 2800 authorized patents and formulated and revised more than 380 industry standards.

At present, avic's connector market in the field of communications occupies a large share, is Huawei, zte's main suppliers, and is the main supplier of domestic new energy automotive core connection system, has entered the jiang-huai, byd, yutong and other products supporting system. In the field of military products, AVIC's products involve the top ten military industrial groups, ranging from satellites, rockets to submarines and missiles.

According to the financial report, AVIC optoelectronics achieved an operating revenue of 2 billion 295 million 530 thousand yuan in the third quarter, with a year-on-year growth of 4.81%; the net profit attributable to shareholders of listed companies was 258 million 140 thousand yuan, with a year-on-year growth of 11.37%. In the first three quarters, the total revenue was 6.89219 billion yuan, up 19.34% year on year; the net profit attributable to shareholders of listed companies was 831.14 million yuan, up 19.22% year on year.

AVIC optoelectronics said that the performance growth was mainly due to the accelerated release of orders benefiting from military products and the expansion of 5g communication, optical devices and cable components.

Li Xin Precision

lixin precision was founded in 2004 and focuses on the development, production and marketing of products such as connectors, motors, wireless charging, fpc, antennas, acoustics and electronic modules. A-share public offering and successful listing in 2010.

From 2011 to 2014, Lixun launched a number of M & as, including Boshuo Technology (Jiangxi) Co., Ltd., Kunshan liantao Electronics Co., Ltd. (Hong Kong) ict-lanto limited, Shenzhen keertong Industrial Co., Ltd., Dongguan Xintao Electronics Co., Ltd., Fujian source Optoelectronic Equipment Co., Ltd., Zhuhai double win soft circuit Co., Ltd. (Germany) Suk Ku Nststofftechnik GmbH, Fengdao Electronic Technology (Suzhou) Co., Ltd.

Through a series of mergers and acquisitions, Lixun precision quickly became the largest connector supplier in China. It is understood that in addition to being the core supplier of Apple lighting connecting line, Lixun precision is also the main connector supplier of Huawei, oppo, vivo and other domestic mobile phone brands.

According to the financial report data, the revenue of Lixun precision in the third quarter of 2019 was 16.395 billion yuan, a year-on-year increase of 62.24%; the net profit was 1.386 billion yuan, a year-on-year increase of 66.74%. In the first three quarters, total revenue of Lixun precision reached 37.836 billion yuan, an increase of 70.96% over the same period of last year; net profit attributable to shareholders of listed companies reached 2.888 billion yuan, an increase of 74.26% over the same period of last year.

There are two main reasons for the sustained and rapid development of the main business, one is the recovery of consumer electronics industry, the landing of 5g base station construction, and the other is the rise of Huawei.

De run Electronics

Derun Electronics was founded in 1992, mainly engaged in household appliances and consumer electronic products, automotive related electronic connectors and precision components, and automotive technology related products and technologies. The company was listed on Shenzhen Stock Exchange in 2006. At present, Derun electronics has three major business groups, namely, household appliances and consumer electronics business group, automotive electronics and electrical business group and Internet of vehicles business group. Derun electronic is currently one of the main connector suppliers of Huawei, and ChuanHua has used Derun electronic products for a number of previous P-Series mobile phones.

According to the financial report, the operating revenue of Derun electronics in the third quarter of 2019 was 1741211396.13 yuan, an increase of 0.62% year on year; the net profit attributable to the shareholders of the listed company was 20515330.00 yuan, a decrease of 41.47% year on year. In the first three quarters, the operating revenue was 49968243.04 yuan, a decrease of 6.86% over the same period of last year; the net profit attributable to shareholders of the listed company was 47974550.99 yuan, a decrease of 45.17% over the same period of last year.

It is understood that the company's performance changes in the first half of this year are mainly affected by the macroeconomic environment and changes in the scope of consolidated statements, and the revenue of household appliances and consumer electronics business has declined to a certain extent; due to the decline of the automobile industry, especially the domestic automobile industry, the revenue of electrical system business has declined slightly; at the same time, due to the increase of amortized equity incentive fees and labor in the reporting period The overall operating performance is under great pressure due to the rising cost and other factors.

Long precision

Changying precision is also the main supplier of Huawei. In the first half of 2015, Huawei was listed as one of the five major customers by Changying precision. In addition to Huawei, Changying precision is also a supplier of Lenovo, ZTE, Xiaomi, oppo, vivo and other mobile phone brands.

At present, in addition to mobile communication terminal business, Changying precision metal appearance business has also successfully expanded to 3C, smart home, smart wear, UAV and other fields, and has successfully developed high-quality customers in Google, Microsoft, Amazon, 360 and other industries.

According to the financial report, the revenue of Changying precision in the third quarter of 2019 was 2226036653.29 yuan, down 7.05% year on year; the net profit attributable to shareholders of the listed company was 68285639.04 yuan, down 20.29% year on year. In the first three quarters, the total revenue was 6184879198.21 yuan, an increase of 2.76% over the same period of last year; the net profit attributable to shareholders of listed companies was 188157066.33 yuan, an increase of 6.27% over the same period of last year.

According to the analysis, the third quarter performance slowdown of Changying precision is closely related to the reality of the downstream mobile phone industry. With the arrival of 5g era, downstream mobile phone manufacturers are flocking to develop 5g mobile phones, and in the third quarter of this year, 4G mobile phone production has been reduced, which also affects sales data of upstream suppliers such as Changying precision. However, with mainstream mobile phone manufacturers such as Huawei, oppo, vivo and Xiaomi releasing 5g mobile phones around the fourth quarter, their sales performance is expected to recover soon.

Xinwei communication

Founded on April 27, 2006, Xinwei communication is one of the first batch of state-level high-tech enterprises, which was listed on Shenzhen Stock Exchange in November 2010. The main products of the company are antenna, wireless charging module and magnetic material, RF front-end device, EMC / EMI solution, cable and connector, audio / RF module, etc.

According to the data, mr. sinway is apple's core supplier and a major supplier to brands such as Huawei.

From 2014 to 2015, Xinwei communication successively invested in alexeon, a large connector factory, twice, making it a 100% holding subsidiary of the company. Through the acquisition of Xinya Lisheng, Xinwei communication further expanded its global connector market layout.

According to the financial report, the revenue of Xinwei communication in the third quarter of 2019 is 1 billion 620 million yuan, and the net profit is 459 million yuan. In the first three quarters, the total revenue was 3.575 billion yuan, an increase of 6.45% year on year; the net profit was 828 million yuan, a decrease of 3.97% year on year.

Referring to the reasons, xinwei communications said the profit level was affected to a certain extent due to the construction and relocation of new factories in shenzhen, Jintan industrial park and vietnam in the first three quarters. Now that the capacity of the above-mentioned factories has been gradually released, with the arrival of the peak season in the consumer electronics industry, the company is confident that the performance level for the full year of 2019 will be higher than last year.

Net profit of $100,000 for the year 2019 attributable to shareholders of listed companies, according to the latest forecast for its 2019 annual results

Aerospace appliances

Aerospace electrical appliances are listed companies under the 10th Research Institute of China Aerospace Science and Technology Group. The main products are connectors and cables, motor and components, optoelectronic devices, relays, system integration, etc. Now it has the international advanced manufacturing technology such as automatic manufacturing of strand type micro contact parts, brush type contact parts manufacturing, wool button manufacturing, aerospace grade products manufacturing, micro motor manufacturing, photoelectric module manufacturing and so on. In composite electroplating, laser sealing welding, glass ceramic sintering, high density gold plating and other technical fields with domestic leading level.

As early as 2014, through the interactive platform, aerospace appliances revealed that its supporting products in Huawei are mainly power connectors, RF connector series, etc., and obtained the main share of the supply of the above products.

The company's revenue for the first three quarters of 2019 was 2,512,150140.42 yuan, up 28.11 percent year-on-year and net profit of 296,517,628.49 yuan, up 11.34 percent, according to financial statements.

Electric connection technology

Founded in 2006, eletronics specializes in the technical research, design, manufacturing and sales services of micro electronic connectors and interconnection system related products, which was listed in A-share market in July 2017.

Since the company's inception, the company has established long-term and close partnerships with well-known domestic and foreign companies such as Huawei, samsung, oppo, vivo, xiaomi and haekangwei, according to the official website.

Since 2015, Huawei has been the number one customer of electric connection technology, accounting for about 20% of the total sales. According to the data, at present, the radio frequency connectors and components of the electric connection technology account for about 50% of Huawei's mobile phones, which are its core suppliers.

According to the financial report, the operating revenue of the first three quarters of 2019 was 1.49 billion yuan, up 58.75% year on year; the net profit attributable to shareholders of listed companies was 140 million yuan, down 30.71% year on year.

As for the reasons for the change of performance, the company said that the main reasons for the year-on-year decline of net profit in the third quarter are as follows: 1. The unit price of products with more fierce market competition dropped more than the same period last year; 2. The production cost of products with more intense market competition increased more than the same period last year; 3. The cost of R & D and mass production preparation stage of new products was higher; 4. The increase of production equipment and self-developed automation equipment was more than the same period last year Many.

According to the latest performance forecast of 2019 released by the company, the profit in 2019 is expected to be 162-200 million yuan, 240 million yuan in the same period of last year, a year-on-year decrease of 16.62% - 32.46%.

Yong GUI appliance

Founded in 1973, yonggui electrical appliances, headquartered in zhejiang rooftop, is a national high-tech enterprise specializing in the research and development, manufacturing, sales and technical support of various electrical connectors, connector components and precision intelligent products. At present, the company's products have obtained more than 300 national patent licensing, with a number of independent technology research and development centers.

In 2014, Yonggui successfully controlled the supplier of Huawei connector and cable components Shenzhen Yonggui Alliance (56.35%). After controlling Yonggui alliance, Yonggui successfully entered the supply chain of Huawei communication connector.

In addition to Yonggui Mengli, Yonggui also acquired Yiteng electronics and successfully entered the field of 3C connectors. Yonggui Electric is also the absolute leader in the field of rail transit connectors, with the market share of rail transit connectors as high as 15% - 20%.

At present, Yonggui electrical appliances are actively layout rail intersection Cars Newsletter Military industry's four major connector areas, in the future in the rail-cross connector sector revenue growth is expected to reach more than 45%.

According to the financial report, the operating revenue of Yonggui electric appliance in the third quarter of 2019 was 291386607.99 yuan, a year-on-year decrease of 14.27%; the net profit attributable to the shareholders of the listed company was 29492750.26 yuan, a year-on-year decrease of 27.82%. In the first three quarters of 2019, the operating revenue was 796656758.93 yuan, a decrease of 12.18% over the same period of last year; the net profit attributable to shareholders of the listed company was 86226773.35 yuan, a decrease of 25.92% over the same period of last year.

During the reporting period, the main factors affecting the performance are as follows: 1. During the reporting period, the company strengthened the development of new products, and the R & D expenses increased rapidly; 2. During the reporting period, the performance of rail transit and military industry increased year on year; 3. During the reporting period, the customer structure of new energy sector was adjusted, and new customers did not supply products in large quantities, resulting in the decrease of revenue, the increase of manufacturing cost of product units, and the increase of products The gross profit rate decreased; 4. During the reporting period, the structure of communication products affected by the industry changed, and the overall income and gross profit rate decreased.

According to the latest 2019 annual performance forecast issued by Yonggui electric, it is estimated that the net profit loss attributable to shareholders of Listed Companies in 2019 will be RMB 320000000-325000000.

Yihua shares

Founded in December 1995, Yihua Co., Ltd. is located in Yueqing City, Zhejiang Province. It is an enterprise focusing on the R & D, production and sales of connector and its component products, focusing on providing customers with perfect application solutions for interconnection products. The company was listed on the domestic A-share small and medium-sized board in September 2017.

After more than 20 years of development, the company has become one of the most powerful manufacturers of communications connectors in China, and has established a long-term partnership with famous enterprises such as Huawei, ZTE, Foxconn, Flextronics, Heshuo, Yaxu and TCL.

In March last year, Yihua said in the interactive platform that the company is the main supplier of Huawei connector products, providing USB, HDMI, high-speed connector and other products.

Total operating income for the first three quarters of 2019 was 1.032 billion, up 3.67 percent from the same period last year, while net profit for the company was 48.4677 million, down 23.08 percent from the same period last year, according to the results.

For the decline of performance, Yihua shares believes that the main reasons are as follows: the loss of newly established subsidiaries; the company attaches great importance to the R & D of new products and innovation of process technology, continuously increasing the R & D investment, with a large increase in R & D expenses compared with the same period of last year; the increase of foreign investment, resulting in the increase of bank loan interest; and the continuous growth of labor cost compared with the same period of last year.

Molex

Molex is also one of Huawei's leading suppliers, having been awarded the Huawei's highest gold content from 2013 to 2014

In 2015, MOLEX also won the title of Huawei's best partner (Gold Award). It is reported that this award is Huawei's only cable and connector supplier who has won this award. In addition, MOLEX ranks the highest among Huawei connector and cable suppliers in terms of quality and stability.

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