No more than expected.
Today (February 22), the Maxscend Microelectronics Company Limited(300782) (300782, SZ), with a market value of more than 80 billion yuan, disclosed the performance express. Last year, the company achieved a net profit of 2.139 billion and reached the upper edge of the performance forecast. The reporter of the daily economic news noted that Maxscend Microelectronics Company Limited(300782) has always been a bull stock of semiconductors, but the company's share price has continued to fall since it peaked last year. This year, the company's share price has fallen by 25.27%.
Although the Research Report of securities companies is still optimistic about the growth of Maxscend Microelectronics Company Limited(300782) , from the perspective of fund holdings, institutional funds have withdrawn since last year's semi annual report.
top edge of performance express net profit forecast
Today, semiconductor giant Maxscend Microelectronics Company Limited(300782) disclosed its 2021 annual performance express. Last year, the company realized an operating revenue of 4.636 billion yuan, a year-on-year increase of 66.05%; The net profit attributable to shareholders of listed companies was 2.139 billion yuan, a year-on-year increase of 99.38%.
Maxscend Microelectronics Company Limited(300782) said that during the reporting period, the company achieved year-on-year growth in operating revenue and profit, mainly due to the company's focus on forward-looking R & D layout and continued to promote the improvement and upgrading of product lines. Benefiting from the incremental market demand for RF front-end products generated by the development of 5g communication technology, combined with the company's advantageous layout in supply chain management, the company's operating performance increased significantly over the previous year. The company's traditional advantageous product - RF discrete device products realize further volume through continuous upgrading and rapid iteration; The company's new product - RF module products at the receiving end, with the advantages of good product performance, sufficient and stable supply and delivery capacity, has rapidly increased the volume and continued to penetrate at the client, promoting the steady development of the business.
The reporter of the daily economic news noted that Maxscend Microelectronics Company Limited(300782) has always been a semiconductor Bull Stock. However, after the share price peaked last year, the company's share price continued to fall, and has fallen by 25.27% this year.
Maxscend Microelectronics Company Limited(300782) the downward trend of share price deviated from the sharp growth of the company's performance. Since 2019, the company's annual net profit has increased significantly year-on-year. According to the 2021 annual performance express data, the latest dynamic P / E ratio of Maxscend Microelectronics Company Limited(300782) is 38.08 times. For technology stocks, the lower the dynamic P / E ratio, the better, which may also be a sign of high growth.
Maxscend Microelectronics Company Limited(300782) the data of this performance express does not exceed the scope of the performance forecast in January. According to the company's performance forecast, Maxscend Microelectronics Company Limited(300782) is expected to make a profit of 2.05 billion yuan ~ 2.16 billion yuan in 2021. It can be seen that the performance of Maxscend Microelectronics Company Limited(300782) performance express reached the upper edge of the performance forecast, but did not exceed it.
The performance that did not exceed expectations has long been reflected in the Research Report of securities analysts. For example, Huaxin securities predicts a net profit of 2.14 billion yuan in Maxscend Microelectronics Company Limited(300782) 2021.
the number of institutional shares decreased quarter by quarter
Although the performance did not exceed expectations, the performance of Maxscend Microelectronics Company Limited(300782) in the fourth quarter of last year also achieved month on month growth. According to the calculation of the company's performance express in 2021, the company achieved a net profit of 612 million yuan in the fourth quarter of 2021, an increase of about 20% month on month.
Many brokerage analysts are still optimistic about the growth of Maxscend Microelectronics Company Limited(300782) . For example, Huaxin Securities said that yole data showed that by 2025, the scale of RF front-end market is expected to reach US $25.4 billion, with an average annual compound growth rate of 11% from 2020 to 2025. Among them, the scale of RF module market will reach US $17.7 billion, accounting for about 69% of the total capacity of RF front-end market, with an average annual compound growth rate of 8%. From the perspective of competition pattern, at present, the top five leading enterprises in the industry are foreign enterprises, accounting for 79% of the RF front-end market share in 2019. China's supply is seriously insufficient, and there is a wide space for domestic substitution.
The company has been deeply engaged in the RF front-end field for more than ten years, and has a leading advantage in the RF front-end segment in China. It is one of the RF device providers of a few benchmarking international leading enterprises in China.
Huaxi Securities Co.Ltd(002926) also mentioned that a new growth curve of the company is about to appear. It is expected that after the self built production line of the filter realizes mass production, the volume of the company's revenue is expected to enter a new growth period, and the company is firmly optimistic about the medium and long-term development momentum of the company.
Semiconductor online Red fund noan growth hybrid Fund released the fourth quarter report of 2021, and there are still Maxscend Microelectronics Company Limited(300782) of the top ten heavy positions. Cai Songsong, the fund manager, said that in 2022, the chip industry faced the strongest logic of the superposition of boom and technological breakthrough. Now the stock price hovered at a low level, and even continued to decline due to the disturbance of some factors. The scissors gap between industry boom and stock price became larger and larger.
However, after the reporter counted the number of positions held by Maxscend Microelectronics Company Limited(300782) institutions, it seems that there are more bears. As of June 30 last year, Maxscend Microelectronics Company Limited(300782) funds held 829 shares, accounting for 32.30% of the circulating shares. However, by September 30 last year, the two groups of data had changed to 133 and 18.11% respectively. By December 31 last year, the two groups of data had changed to 107, 15.82%. The change in the number of institutional shares also converges with the change in the stock price. Since Maxscend Microelectronics Company Limited(300782) did not disclose the annual report of 2021, it is difficult to know the changes of the top ten shareholders.
