At the end of the year, it is an effective method to judge the operation profile of the listed company this year and even look forward to the new year through the various operation information involved in the reply of the listed company to the relevant questions of investors.
Between questions and answers, key information such as the industry of listed companies, order reserves, competition pattern and potential space also surfaced one by one.
industry boom: full power rush period
“The delivery date is slightly longer than that in previous years. The company is increasing its horsepower to meet customer needs.” On the interactive platform, many listed companies have made every effort to catch up with the orders to be delivered.
“Orders are very full. We have several projects at the end of the year. In short, we will try our best to deliver on time.” In an interview, the Secretary of a listed company in the communication industry said that according to the previous law, the third and fourth quarters of each year are the traditional peak seasons of the communication industry. The company strives to meet the order delivery requirements in time and ensure the product qualification rate and quality stability.
In the replies of relevant persons of several interviewed listed companies in the communication field, there are not a few “hot” situations similar to the above-mentioned companies. Among them, some companies disclosed that “orders in hand have made reasonable production scheduling plans according to customer requirements, and go all out to ensure the timely delivery of products”.
In addition to the communication industry, in the fields of basic chemical industry and new chemical materials, many listed companies frankly say that “the relevant production lines are producing at full capacity”, reflecting the good supply and demand and full prosperity of the industry in which the relevant companies are located.
Taking the chlor alkali industry as an example, companies in the industry may benefit from the high prosperity. According to Zhuo Chuang information, the average market prices of calcium carbide, PVC and caustic soda (99%) at the end of October were 7115 yuan / ton, 10137 yuan / ton and 5800 yuan / ton respectively, up 109.11%, 37.90% and 280.33% respectively over the beginning of the year.
The Yibin Tianyuan Group Co.Ltd(002386) with a relatively complete range of chlor alkali products previously publicly stated that the ex factory price of the company’s liquid alkali follows the market, and the chlor alkali plant has been operating at full capacity.
“With technological progress and device upgrading, PVC and its derivatives have begun to develop towards high-performance, engineering and green, so its market demand will continue to grow.” The Secretary of a Shanghai Chlor-Alkali Chemical Co.Ltd(600618) enterprise in East China believes that the downstream industry of caustic soda accompanying the production of PVC accounts for the largest proportion of alumina, accounting for up to 30%. In addition, due to the overall profit recovery in the chemical and petrochemical fields, the increase of its production capacity also increases the demand for Shanghai Chlor-Alkali Chemical Co.Ltd(600618) products.
In addition, the titanium dioxide manufacturer Gpro Titanium Industry Co.Ltd(000545) said on the interactive platform that the company is currently producing at full capacity and operating well. Similarly, the fine chemical intermediate production enterprise Shandong Kaisheng New Materials Co.Ltd(301069) also said that at present, the company’s production of thionyl chloride is basically in full production.
What about the manufacturing industry that has attracted much attention?
“According to the order law over the years, general customers have more purchase plans before and after the spring festival than in other months. The company is increasing its power to meet customer needs.” The deputy general manager of a CNC lathe listed enterprise expressed optimism about the prospects of the industry and the company.
“This year’s orders have indeed gone up faster, and the revenue in the first three quarters has exceeded that of last year.” The above-mentioned executives frankly said that the benefits are good, the pressure is coming, and the production capacity has encountered a certain bottleneck. Fortunately, the production of the new plant will be alleviated in the future.
However, for the expansion of production, some companies admitted that they had encountered challenges. Mesnac Co.Ltd(002073) recently said on the interactive platform that process equipment, technical parameters, reducing energy consumption and product quality are all challenges that the company will encounter in the process of expansion, “but the company will try its best to be better”.
abundant orders: electronic enterprises have increased significantly
From the recent responses of listed companies to order items, it is not difficult to find that listed companies in many industries continue to maintain a good growth momentum, especially in the electronic field.
It is generally believed that with the continuous development of LED display technology towards high density, small spacing LED display will gradually extend to mini led and micro led, and mini LED will also promote the fourth round of upward cycle of LED industry. According to the prediction of Jibang consulting, the penetration rate of mini led in various terminals will be less than 1% in 2020 and about 10% in 2024, with a growth space of 10 times or even nearly 100 times.
Recently Unilumin Group Co.Ltd(300232) in the direct display application field downstream of the industrial chain said that mini LED is one of the main product lines planned by the company for future business growth. At present, the company reserves a mini led capacity of about 3000kk / month, and plans to reserve enough capacity space to support future business growth.
Midstream packaging factory Shenzhen Refond Optoelectronics Co.Ltd(300241) stressed that “technology research and development in the field of mini led began as early as 2016”. The company said that in the second half of 2020, it began to cooperate with relevant panel enterprises in the mini Nb / MNT / TV project. Up to now, some projects have started mass production, successfully entered the supply system of relevant panel enterprises and become their qualified suppliers.
As one of the earliest companies in the industry to enter this field, the upstream chip factory Hc Semitek Corporation(300323) said that “the expansion of production is smooth”. According to the company, the mini LED production expansion project is progressing smoothly, and 50% of the production expansion plan has been completed by the first half of 2021.
According to the analysis of insiders, the maturity of technology and the improvement of yield are driving the rapid decline of mini led cost, and the cost of mini LED backlight decreases by about 15% – 20% every year. In this context, many investors have begun to pay attention to the reserves of related companies for micro LED technology.
According to Hongli Zhihui Group Co.Ltd(300219) in the packaging link of the industrial chain, the company has established a joint laboratory on micro LED technology with South China University of technology. “The company invested in the construction of Hongli photoelectric LED new backlight display phase II project in Huadu District last year, which is mainly committed to the R & D, production and sales of mini led and micro led. At present, it is in the construction stage.” In addition, Konka Group Co.Ltd(000016) “spoiler” micro LED chip has completed small batch trial production. Visionox Technology Inc(002387) said that Chengdu CHENXIAN optoelectronics Co., Ltd., a joint venture of the company, has built a micro led pilot line.
In addition to the LED field, listed companies related to automotive electronics also hold important orders.
Shenzhen Sunlord Electronics Co.Ltd(002138) said that the company’s reversing radar transformer, electric vehicle BMS transformer, power inductor and other products have been purchased in batches by many well-known automotive electronics enterprises and new energy vehicle enterprises at home and abroad, and the new projects of high-end customers continue to be promoted smoothly. Shenzhen Deren Electronic Co.Ltd(002055) said that the company’s 22KW 800V platform high-power vehicle charger products mainly provide product supporting services for Porsche.
The relevant person in charge of an authorized distributor of electronic components told the China Securities Journal · China Securities Taurus reporter that at present, more than 60% of the technological innovation in the automotive industry comes from the application of automotive electronic technology, and has become the main symbol to measure the level of complete vehicles. “The development process from functionality to intelligence is also the process of extensive application and upgrading of automotive electronics.”
(China Securities Journal)
