On March 29, the share prices of several listed companies in the apple industry chain fell in the secondary market, resulting in a decline in the market value. Among them, Beipo shares, Goertek Inc(002241) , Luxshare Precision Industry Co.Ltd(002475) , Wingtech Technology Co.Ltd(600745) , Gettopacoustic Co.Ltd(002655) , Zhejiang Lante Optics Co.Ltd(688127) , Jiangsu Gian Technology Co.Ltd(300709) and other companies decreased by more than 5%.
In the view of the industry, this may be affected by Apple’s rumors of cutting orders for iPhone Se and airpods. Peng Ronghui, a researcher of Rongzhi investment under private placement paipai.com, said in an interview with the Securities Daily that airpods is more likely to cut orders. At this stage, consumer electronics has entered the stock game, the number of new users in Apple ecology has decreased, and the competition from Android is also very fierce. If it is clear that cutting orders will have a negative impact on the performance of China’s apple chain company, it depends on the proportion of apple in its customer list.
On the same day, Luxshare Precision Industry Co.Ltd(002475) said on the interactive platform that the acoustic wearable products of the company have maintained stable cooperation with customers. At present, the orders have increased as expected and landed normally. There is no order cutting of the company’s largest customer. Investors are requested to pay attention to screening the false information on the network.
smartphone sales decline
air pods approximate production reduction
Previously, it was reported that due to weaker demand than expected, Apple plans to produce about 20% less iPhone Se in the next quarter, or about 2 million to 3 million less than originally planned. In addition, Apple also reduced its orders for airpods wireless headphones by more than 10 million in 2022, reducing inventory levels due to cold demand.
The decline in mobile phone sales in the Chinese market is already a harbinger. According to the data of China Academy of communications and communications, in February 2022, the overall shipment volume of China’s mobile phone market was 14.864 million, a year-on-year decrease of 31.7% and 55% month on month. The year-on-year decrease was mainly due to the high base in the same period due to the early release of new machines in spring last year, and the month on month decrease was mainly due to the seasonal decline of market demand.
From the brand level, the sales volume of domestic brands and overseas brands decreased in February, among which the prosperity of Apple’s new iphone13 series declined. According to the sales data released by the Institute, the shipment of smart phones has shown a downward trend since this year.
Ma Jihua, founder of Darui consulting, told reporters that the epidemic is not over, geographical conflicts and inflation expectations have damaged the whole industrial chain. At the same time, some factories cannot start all the way, the production capacity of smart phones is also limited, and there may be a shortage of some components. In this case, mobile phone manufacturers, including apple, will adjust their product lines, and it is almost inevitable for airpods to reduce production.
“order cutting” is related to performance expectations
Apple’s A-share partners bet on
Even now, becoming an apple supplier is an affirmation of the strength of consumer electronics manufacturers. Data show that as of March 29, the total market value of 105 Apple concept stocks has exceeded 2 trillion yuan.
With the arrival of the annual report disclosure season, 20 Apple concept stocks have released the 2021 annual report. The data show that the operating revenue of these 20 listed companies has increased to varying degrees, and the net profit attributable to the shareholders of 17 listed companies has increased year-on-year.
In Peng Ronghui’s view, the overall performance of the current apple industry chain is relatively good. Once “cutting orders” will reduce the expectation of future performance growth. So it seems that “cutting orders” will have a great impact on the performance expectations of upstream and downstream enterprises in this industrial chain.
In January this year, Ofilm Group Co.Ltd(002456) issued an announcement of pre loss of performance due to “cutting orders”. In this regard, the company explained that one of the main reasons for the large year-on-year decline in net profit in 2021 was the impact of the termination of procurement relations by specific overseas customers: the company’s product shipments related to specific customers decreased significantly year-on-year. The company bears the operating costs incurred by subsidiaries related to specific customer business after terminating the procurement relationship.
At that time, some media reported that Ofilm Group Co.Ltd(002456) was kicked out of the apple industry chain Ofilm Group Co.Ltd(002456) before the case, how to reduce dependence on Apple’s performance has become a topic explored by many listed companies in the industrial chain.
Peng Ronghui said that on the whole, Chinese apple industry chain enterprises have been trying to reduce their dependence on Apple’s performance, including expanding Android customers Xiaomi, oppo, vivo and Huawei, and expanding from consumer electronics to automotive electronics.
