With the increasing intelligence of new energy vehicles, vehicle lens has become one of the industries with the most growth certainty this year.
The first car et7 of Weilai, which will be delivered at the end of the first quarter of this year, is equipped with seven 8-megapixel ADAS HD cameras and four 3-megapixel surround cameras for the first time; The 2021 ideal one delivered in June last year upgraded the monocular 1.3 million pixel camera to 8 million pixels, which also made the ideal one the first mass production model equipped with 8 million pixel camera Adas lens (advanced driving assistance system) has become the standard configuration of more and more car enterprises and has become increasingly high-definition.
“With the rise of the new power of car making, it is an inevitable choice for the new power of car making to use ADAS lens to overtake and build competitiveness comparable to traditional car enterprises. In the future, in terms of sensor hardware, we will spare no cost and continue to attack our opponents with top car HD camera configuration.” Some people in the industry believe that.
Traditional car companies are also unwilling to show weakness. For example, BMW (Mercedes Benz) directly cuts into L3 level autonomous driving models. Compared with L2 level intelligent assisted driving, L3 level intelligent assisted driving needs to be equipped with more high-definition cameras, about 8 ~ 16. Based on the above logic, HD car lens is undoubtedly the next blue ocean market.
car lens specification upgrade
the industry continues to maintain a high outlook
At present, Lianchuang Electronic Technology Co.Ltd(002036) is the leader in the field of high-end vehicle lens with 8 million pixels. Founded in 2006, the company has been focusing on the R & D, production and sales of optical lenses. Since 2015, the company has been deployed in the field of vehicle, passed the vehicle regulation certification that year, entered the Tesla supply chain in 2016, and achieved mass production in 2017. In 2018, the company cooperated with NVIDIA, Mobileye and other head algorithm companies to develop 8 million pixel high-end vehicle lenses and obtained certification.
The company is one of the first companies to lay out high-end products in the field of vehicle lens. At the end of 2017, the company developed the world’s first 8 million pixel vehicle lens for Ansenmei, the leading brand of vehicle image sensor, which has attracted world-class attention. Today, the company provides on-board lenses for dozens of well-known automobile brands at home and abroad, such as BMW, Audi, Mercedes Benz, Volkswagen, Tesla and Weilai.
Since its cooperation with Tesla in 2016, Lianchuang has participated in the development of Telsa safety driving system lens products through in-depth cooperation, and is expected to become the largest supplier of Tesla vehicle lens.
Relevant people of the company told reporters that the vehicle lens and camera module have a high moat, and the company has a first mover advantage in 8 million pixel products. Adas field is a field with high threshold and long life cycle in the field of vehicle lens. It takes 2-3 years to pass the certification. The car factory will purchase in batches after 1000-3000 hours of road test. Once the order is determined, there will not be much change in the next 5-8 years, and the production capacity and yield will not be able to keep up for a while.
In addition, affected by the working environment, high-pixel ADAS lenses need to apply molded glass, and the core of molded glass technology is reflected in optical precision molds. Most of the company’s optical molds are self-developed by the company. The manufacturing of molded glass has high technical barriers and needs to be supported by a deep foundation of the optical industry. At present, the company’s production capacity of molded glass ranks among the top in the world, Second only to Hoya of Japan.
At the end of last year, Lianchuang Electronic Technology Co.Ltd(002036) also made a new breakthrough in the field of vehicle camera. The company has begun to mass produce 8 million pixel vehicle camera modules.
deep binding core executives
Lianchuang Electronic Technology Co.Ltd(002036) push the largest incentive plan in history
According to the prediction of Sinolink Securities Co.Ltd(600109) , the vehicle camera market is expected to increase by 44% in 2022. It is estimated that the vehicle lens market will reach 26 billion yuan in 2025, the vehicle camera market will reach 78.2 billion yuan, and the CAGR will reach 32% from 2020 to 2025.
Recently, Lianchuang Electronic Technology Co.Ltd(002036) mentioned in the equity incentive plan that in 2022, 2023 and 2024, the company’s target main business income is not less than 10 billion yuan, 12 billion yuan and 14 billion yuan respectively, and the company’s target vehicle optical business income is not less than 500 million yuan, 1 billion yuan and 1.5 billion yuan respectively; Or in 2022, 2023 and 2024, the target net profit of the company will increase by no less than 90%, 160% and 200% respectively compared with 2020.
In order to seize the rising period of the industry and let everyone roll up their sleeves to work hard, Lianchuang Electronic Technology Co.Ltd(002036) recently disclosed the 2022 stock option and restricted stock incentive plan. The incentive plan plans to grant a total of 33 million rights and interests to incentive objects, involving RMB A-share common shares, accounting for about 3.10% of the total share capital of the company on the date of publication of the draft incentive plan. Among them, 28.35 million rights and interests were granted for the first time and 4.65 million rights and interests were reserved.
The exercise price of stock options granted for the first time in the incentive plan is 20.17 yuan / share, and the grant price of restricted shares granted for the first time is 10.09 yuan / share; The scope of incentive objects includes directors, senior executives, core managers and core technical / business personnel who worked in the company (including subsidiaries) when the company announced the incentive plan. Excluding the company’s independent directors, supervisors, shareholders or actual controllers holding more than 5% of shares alone or in total and their spouses, parents and children. A total of 335 incentive objects were granted for the first time.
At the same time, Lianchuang Electronic Technology Co.Ltd(002036) (002036. SZ) disclosed the second phase of the employee stock ownership plan (Draft). The total capital of the employee stock ownership plan is no more than 100 million yuan and no less than 50 million yuan. The “share” is taken as the subscription unit, and the share of each is 1 yuan. The upper limit of the number of shares of the employee stock ownership plan is 100 million; It is proposed to acquire and hold the company’s shares through secondary market purchase (including but not limited to centralized bidding, block trading, etc.) and other means permitted by laws and administrative regulations.
The number of shareholders contributing to the ESOP shall not exceed 18, including 11 directors (excluding independent directors), supervisors and senior managers, and no more than 7 middle-level managers and core backbones of other companies and subsidiaries.
“This is the strongest incentive plan launched since the listing. On the one hand, it is to give investors confidence in holding shares, on the other hand, it is to deeply bind the core management together and improve the team cohesion,” a relevant person of the company told reporters
