On February 12, apple electronics industry chain giant Luxshare Precision Industry Co.Ltd(002475) released two transactions with a total investment of about 11 billion yuan to the market at one go. First, the controlling shareholder of Luxshare Precision Industry Co.Ltd(002475) Lixun Co., Ltd. plans to purchase 19.88% equity of Chery holdings, 7.87% equity of Chery shares and 6.24% equity of Chery new energy held by Qingdao Wudaokou with 10.054 billion yuan; Second, 74.67% of the equity of Hong Kong stock convergence technology was acquired through overseas wholly-owned subsidiaries with HK $1.104 billion.
break into the field of new energy vehicle manufacturing
Luxshare Precision Industry Co.Ltd(002475) announced that it would establish a joint venture with Chery new energy to specialize in the R & D and manufacturing of new energy vehicles, provide cutting-edge R & D, design, mass production platform and access to the sea for the company's auto core parts business, and strive to achieve the company's medium and long-term goal of becoming a leading manufacturer of auto parts Tier1.
Among them, Luxshare Precision Industry Co.Ltd(002475) plans to subscribe 500 million yuan, hold 30% of the registered capital of the cooperative subsidiary, and Chery new energy subscribed 1.167 billion yuan and holds 70% of the registered capital. The cooperation between the two sides is exclusive, that is, Chery group cannot cooperate with other automobile OEM enterprises in OEM business, but can independently OEM business or cooperate with automobile brand enterprises in OEM business.
" Luxshare Precision Industry Co.Ltd(002475) has been looking for suitable automobile manufacturers to layout the field of new energy vehicles before. Chery has always had a lot of business contacts with Lixun. This official announcement of cooperation is not surprising. The plan of cooperation between the two countries has long been on the agenda. At the same time, it is available in the market for Luxshare Precision Industry Co.Ltd(002475) There are not many automobile factories that choose to invest and cooperate. Some have high cooperation costs and some have weak synergy. " Consumer electronics researcher of a local securities firm in Guangzhou told the reporter of Securities Daily.
According to the annual report of Luxshare Precision Industry Co.Ltd(002475) in recent years, the company focuses on the "blood vessel and nervous system" of the whole vehicle in the automotive field. The specific products include the functions of the whole vehicle and special harness, high-voltage harness and connector of new energy vehicle, on-board communication unit (TCU) and central gateway. According to the company's 2021 semi annual report, automotive interconnection products and precision components account for 3.68% of the company's operating revenue, about 1.77 billion yuan.
"This time, the company finally reached a cooperation with Chery, mainly to go deep into the automotive field as soon as possible. Due to the impact of the market environment, consumer electronics is not as good as in previous years, and its main business is slightly tired. For Luxshare Precision Industry Co.Ltd(002475) , it is urgent to find new business growth points to maintain the rapid development of the enterprise." The researchers said.
\u3000\u3000“ Luxshare Precision Industry Co.Ltd(002475) In addition to being a leader in the field of consumer electronics OEM, it has already laid out its own layout in the automotive field and has long cooperated with China's international vehicle brands. The layout of the consumer electronics giant into the automotive industry can enable it to lay out a new growth flywheel in the old industries and core capabilities, which is very important for the performance and market value growth of each company. Its accumulation in the original R & D, production, manufacturing, OEM and management will also help to quickly enter the automotive electronics field with similar product temperament. " Qin Ruohan, general manager of Jinhua fund, told reporters.
It is reported that Chery group released its annual sales data in 2021 in early January this year. Its cumulative sales of cars in 2021 reached a historic 961900, a year-on-year increase of 31.7%. Among them, 269200 vehicles were exported, with a year-on-year increase of 136.3%; The sales volume of new energy vehicles was 109000, with a year-on-year increase of 144.6%. In 2022, Chery group put forward the goal of ensuring annual sales of 1.5 million vehicles, striving for 2 million vehicles and annual operating revenue of 200 billion yuan.
Meanwhile, Luxshare Precision Industry Co.Ltd(002475) plans to invest HK $1.1 billion to acquire 74.76% equity of Hong Kong stock convergence technology. Convergence technology is a supplier of customized wire interconnection solutions. Its products are mainly used in data centers, industrial and medical equipment, communications and other fields. Luxshare Precision Industry Co.Ltd(002475) said that it has strong complementarity with convergence technology, and further improve the company's strategic layout of interconnected products in the fields of communication, medical treatment, automobile and industry from the aspects of products, customers and market. In 2020, convergence technology achieved a total operating revenue of HK $308 million and a net profit of HK $226 million.
targeting new energy business
In fact, Luxshare Precision Industry Co.Ltd(002475) is not the first company to seek development through in-depth cross-border operation.
Shenzhen Everwin Precision Technology Co.Ltd(300115) announced in early 2021 that it plans to invest a total of about 8.8 billion yuan in the automatic production line project of power battery structures. The location of the expansion project is consistent with that of the Contemporary Amperex Technology Co.Limited(300750) expansion project, and the goal is directly aimed at "ningwang".
Lens Technology Co.Ltd(300433) announced at the end of last year that it had signed a strategic cooperation agreement with Triumph Science & Technology Co.Ltd(600552) the leading enterprise of photovoltaic original film, and established a wholly-owned subsidiary, Hunan Lansi new energy Co., Ltd., which is mainly engaged in photovoltaic projects and other businesses, with a registered capital of 1 billion yuan. This means that the Lens Technology Co.Ltd(300433) photovoltaic industry will officially open. At the same time, the company also expressed confidence in the growth of new energy vehicle business and strive to achieve higher growth in 2022. The automobile project of Shanghai Lingang Holdings Co.Ltd(600848) will also be actively promoted. The layout is being planned internally. At the same time, the company will also plan the global layout.
According to the announcement, Lens Technology Co.Ltd(300433) is expected to have a net profit of 2 billion yuan to 2.3 billion yuan in 2021, a year-on-year decrease of 51% to 59%; Shenzhen Everwin Precision Technology Co.Ltd(300115) is expected to have a net profit loss of 490 million yuan to 690 million yuan in 2021.
"Due to the longer change cycle of mobile phones, the overall demand has declined from the original two years to more than three years now. The mobile phone industry chain is not as prosperous as before, and the performance of some industry chain companies has changed significantly." Wang Sheng, research director of Shanghai jingling Investment Management Co., Ltd., told reporters that the automotive industry is in the process of changing from traditional manufacturing to scientific and technological manufacturing. Cars are gradually developing from a simple means of transportation to an Internet space integrating entertainment, office and consumption. Cars will be similar to the transition and upgrading from functional mobile phones to smart phone terminals in the next 10 years, The demand for automotive electronics will be highly stimulated.
