Zhongying Electronics: Zhongtai Securities, Shenwan Securities and other institutions investigated our company on November 7 | judi 4d online, dewa casino slot88
Securities Star News, on November 8, 2023, Zhongying Electronics (300327) announced that Zhongtai Securities, Shenwan Securities, Donghai Securities, Xingyin Asset Management, People's Insurance Company, Shengjun Investment, Orient Securities Asset Management, Caitong Asset Management, Shenwan Lingxin, China Life Asset Management, Orient Securities, and Gaoxin Asset Management will investigate our company on November 7, 2023.
The specific content is as follows:
Q: What is the price discount for guest submissions?
Answer: The company's cost accounting uses the weighted average method. This year it is still digesting relatively high-cost inventories. The effect of overall cost reduction is still small this year, but it is expected to be more reflected next year.
Q: What is the recovery status of sales in the guest market?
Answer: In the short term, the market is recovering moderately, and the market demand for home appliance MCUs is improving.
Q: What is the business situation of Laibin Xinying?
Answer: Xinying’s MOLED display driver chips have been mainly used in the repair and aftermarket market of smartphones. The market space is small and product price competition is fierce. In the future, competition in the brand market will be relatively orderly. Quality requirements in the brand market will increase in all aspects, but profit margins will also be relatively stable. The chips developed according to the specifications of brand mobile phone manufacturers will be sent to customers for verification in the fourth quarter.
Q: What are the technical specifications requirements for Laibin AMOLED display driver chip products?
Answer: Technical indicators are comprehensive and all aspects must be considered, not a single one. We have a display compensation algorithm to improve panel yield. The aftermarket market has less demanding requirements on power consumption and color adjustment, and more on adaptability. However, the brand market has high requirements, including anti-interference and low power consumption.
Q: What is the gross profit margin of guest’s front and rear AMOLED display chips?
Answer: Xinying’s current sales are mainly in the aftermarket market. The market competition is fierce and the market is relatively disordered. The pre-installation market is mainly dominated by Korean brands, Novatek and Ruiding, and the market is relatively orderly. Gross profit margin is related to procurement costs, and each company is different.
Q: What is the reason for the decrease in Laibin Company’s gross profit margin this year?
Answer: The main reason is that there was a general price cut in the annual price negotiation at the beginning of the year, which had an impact on the gross profit margin for the whole year. After that, the price became relatively stable. The company's gross profit margin in the third quarter was already slightly better than that in the second quarter.
Q: What proportion of guest-specific MCUs are there?
Answer: We make dedicated MCUs. The volume of a single product is larger than that of general-purpose MCUs. Our customers are mainly big brand customers. Prices are relatively stable. The market price of general-purpose MCUs fluctuates relatively widely.
Q: What is the proportion of guest 8-bit and 32-bit MCUs?
Answer: The proportion of 32-bit users has been gradually increasing. New products are almost always 32-bit core. 32-bit development costs will be higher and it will take longer. We are customer-oriented, and the core is currently based on RM.
Q: What is the use of MCU for Laibin cars?
Answer: It can be used to control heating fans, car air conditioners, and car windows.
Q: What is the guest order cycle?
Answer: The visibility lasted for more than a month.
Q: Guest customer inventory?
Answer: The customer’s inventory is reasonable. No excess inventory.
Q: What is the situation of Laibin’s international customers?
Answer: They are all overseas home appliance brand manufacturers, one from Europe and the other from Japan. There are currently a small number of orders, and the company continues to promote more overseas brand customers to introduce the company's products to strive for greater growth space.
Q: What is the price trend of Laibin small appliance MCU?
Answer: The price competition was fierce in the first half of the year, but now the overall price tends to be stable. Some friends who had previously priced their products too low were also seen increasing their prices in the third quarter.
Q: What is the gap between Laibin Home Appliances MCU and overseas manufacturers?
Answer: The product performance and quality must be at least as good as those of major overseas manufacturers before customers will accept it. We will offer cheaper prices and better services. Overseas MCU manufacturers are gradually shifting their focus to the automotive field, and the large home appliance market is not as focused as ours, giving the company more opportunities to grow. Exports from domestic home appliance manufacturers have declined this year. We will continue to make more breakthroughs in technology.
Q: How is the cooperation between Laibin lithium battery management chip and mobile phone manufacturers?
Answer: We cooperate with most domestic mobile phone brand manufacturers and do not comment on individual customers.
Q: How big is the market space for Laibin lithium battery management chips in mobile phones and laptops?
Answer: The market space for lithium battery management chips for domestic brand Android phones and global laptops is estimated to be around 1.5 billion yuan. However, the mobile phone industry iterates quickly, while the notebook computer iterates slowly. It is relatively difficult to enter the notebook market, but it is more stable after entering.
Q: What’s the status of guest WiFi/BLE products?
Answer: The product is being taped out and will be promoted next year. What we make is industrial-grade WiFi/BLE Combo products, which are highly reliable and differentiated. Relying on the long-term technology and market accumulation of MCU, the initial promotion will start from the white goods market and will be promoted to the industrial intelligent manufacturing market in the long term.
Q: What is the electronic layout of Laibin Auto?
Answer: Automotive electronics is a long-term, slow-reporting business, but it is worth investing in. Once you get in, it's very stable and the long-term rewards will be very generous. The improvement of technology depends on accumulation over time. The company already has its first product and plans to launch new products next year.
Zhongying Electronics (300327) main business: R&D, design and sales of independent brand integrated circuit chips, and provides corresponding system solutions and after-sales technical support services.
Zhongying Electronics’ third quarter report for 2023 shows that the company’s main operating income was 923 million yuan, a year-on-year decrease of 26.55%; the net profit attributable to the parent company was 99.5625 million yuan, a year-on-year decrease of 67.95% %; deducting non-net profit of 78.0666 million yuan, a year-on-year decrease of 72.85%; in the third quarter of 2023, the company's single-quarter main operating income was 294 million yuan, a year-on-year decrease of 16.95%; single-quarter returnThe net profit of the parent company was 13.941 million yuan, a year-on-year decrease of 74.76%; the non-net profit in a single quarter was 13.9754 million yuan, a year-on-year decrease of 74.59%; the debt ratio was 19.75%, investment income was 497,900 yuan, financial expenses were -9.2229 million yuan, and the gross profit margin was 36.07%.
In the past 90 days, a total of 11 institutions have rated the stock, 9 with buy ratings, and 2 with overweight ratings; the average target price of institutions in the past 90 days is 33.08.
The following is detailed profit forecast information:
Margin financing data show that the stock’s net financing outflow in the past three months was 6.7901 million, and the financing balance decreased; the net inflow of securities lending was 2.4628 million, and the balance of securities lending increased.
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