Reporter of the Economic Business: Mo Shuting Editor of the Economic Business: Zhang Haini
Picture source: Photo Network
Recently, Wanderer (002351, SZ) has become popular in the capital market.
As it catches up with the TWS (True Wireless Stereo) headphone air vent, the stock price of this old audio equipment manufacturer soars, and even has five consecutive boards. From August to December 16 this year, in more than four months, the maximum increase in the stock price of Wanderer exceeded 400%. Today (December 17), the stock price of Wanderer hit the daily limit again, closing at 28.55 yuan per share.
Ramer pointed out in the third quarter report that due to the significant increase in headphone revenue, the net profit in 2019 (i.e., net profit attributable to shareholders of listed companies, the same below) is expected to be RMB 90.7567 million to RMB 112 million, an increase of 70% to 110% year-on-year.
As the stock price continues to rise, shareholders have also embarked on the road to reduce their holdings.
号 号 号
号 2018 net profit hit a new low since its listing
It is understood that 号 is mainly engaged in the research, development, production and sales of multimedia speakers and headphones, and its business covers product ID concept design, circuit design, speaker design, structural design, etc. In 2010, Wanderer logged into the capital market.
In the past decade, the operating income of marchinger in multimedia speakers has shown an overall downward trend. In 2018, Wanderer achieved a total revenue of 881 million yuan. Among them, the revenue from multimedia speaker products was 469 million yuan, accounting for 53.24% of the total revenue; the revenue from headphone products was 358 million yuan, accounting for 40.6% of the total revenue.
was also in 2018. Wanderer achieved a net profit of RMB 17.0907 million in deducting non-operating items, a year-on-year decrease of 78.74%, a new low since its listing. The non-net profit in 2018 was even less than one-fifth of the year it was listed.
However, thanks to the hot sales of headphone products in the first half of 2019, Wanderer 's performance has rebounded this year. In the first half of 2019, Wanderer achieved operating income of 513 million yuan, a year-on-year increase of 18.91%; net profit was 60.5823 million yuan, a year-on-year increase of 43.76%; net profit excluding non-network was 44.8413 million yuan, a year-on-year increase of 80.15%.
Specifically in terms of revenue, the revenue from headphone products was 253 million yuan, a year-on-year increase of 48.96%, accounting for 49.38% of the revenue; the revenue from multimedia speakers was 231 million yuan, a year-on-year decrease of 2.45%, accounting for 45.03% of the revenue. Therefore, the revenue of headphone products exceeded that of multimedia speakers for the first time. In terms of gross profit margin, the gross profit margin of headphone products reached 38.17%, an increase of 5.49 percentage points year-on-year.
Guoxin Securities research report pointed out that Wanderer has successively launched a series of TWS headphones since the second half of 2018. With the technology upgrade of upstream chip solution manufacturers, the company's TWS products continue to be upgraded, and it is one of the few companies in the TWS industry chain with independent brands and core technology capabilities. With the explosion of the TWS industry, the company's performance growth rate has accelerated quarter by quarter and is expected to usher in a new round of growth period.
In the first three quarters of 2019, Wanderer achieved operating income of 788 million yuan, a year-on-year increase of 30.13%; net profit was 80.25 million yuan, a year-on-year increase of 48.7%.
However, according to Jiwei.com, with the launch of main control chip solutions covering the mid- and low-end fields such as Apple , Huawei , Qualcomm , Realtek , Hengxuan, Luoda, Jieli, etc., and the industrial chain of Huaqiangbei white brand TWS headphones market has gradually improved, the cost of TWS headphones has dropped rapidly. It is reported that the factory shipment cost of TWS headphones has dropped from 100+ yuan/right to less than 20 yuan/right now.
If a large number of low-priced TWS headsets are sold on the market, will it squeeze into the mid-range market of rambler ? In response, a staff member of the securities department of Wanderer responded: "Our company's (TWS) headphone products have different prices, and the advantage of our headphones is that they have relatively high cost performance. At present, the sales of the company's (TWS) headphones are still OK."
shareholders reduced their holdings at a high level
Wanderer first started an upward trend in August. While the stock price has been rising all the way, company executives and founding shareholders have also targeted the opportunity to reduce their holdings.
As the TWS concept continues to be popular, at the end of October, the stock price of Wanderer began to rise rapidly.On October 24, Wanderer closed at 7.92 yuan per share. By the close of November 14, the share price of Wanderer rose to 16.42 yuan per share. This also means that in just 15 trading days, the share price of rambler has doubled.
On the evening of November 14, Xiao Min, director and vice president, who holds 25.45% of the shares, launched a plan to reduce his holdings. Due to personal financial needs, Xiao Min plans to reduce the number of shares in the company by no more than 11.8553 million shares (accounting for 2% of the total share capital).
"Daily Economic News" reporter learned that Xiao Min is the main initiator of Wanderer and is currently the second shareholder of Wanderer . After
, Ramer stock price began to adjust. After only a few days of adjustment, Wanderer launched an upward market again on November 27. On November 26, the closing price of Wanderer was 13.10 yuan per share. By the close of December 10, the company's stock price had risen to 25.44 yuan per share, nearly doubled. Among them, from December 4th to 10th, Wanderer achieved five consecutive boards.
However, after five consecutive boards, on the evening of December 10, Wanderer announced that Xiao Min reduced his holdings by 5.9276 million shares through bidding transactions on December 9, with an average price of 23.053 yuan per share, and the reduction plan has not been implemented yet. Based on this calculation, Xiao Min cashed out about 137 million yuan this time (excluding taxes and fees).
That night, Wanderer also disclosed a plan to reduce holdings by more than 5% of the shares of shareholders and senior management. The announcement shows that due to personal capital needs, director Wang Xiaohong plans to reduce the number of shares of the company by no more than 9.5627 million (accounting for 1.6132% of the total share capital); director and vice president Zhang Wensheng plans to reduce the number of shares of the company by no more than 2 million (accounting for 0.3374% of the total share capital); vice president Deng Longmu plans to reduce the number of shares of the company by no more than 62,500 (accounting for 0.0105% of the total share capital); vice president Wen Yu plans to reduce the number of shares of the company by no more than 62,500 (accounting for 0.0105% of the total share capital).
Except for Zhang Wensheng, the other three people almost reduced their holdings of unrestricted circulating shares. According to preliminary calculations, the four people reduced their holdings by about 2% of their shares in total.
"Daily Economic News" reporter noticed that Wang Xiaohong is the third shareholder of Wanderer , and is also the daughter of Wang Jiukui, chairman of Wanderer , Zhang Wendong ex-wife and one of the founders of Wanderer . After the implementation of this share reduction plan, Wang Xiaohong's shareholding ratio will be reduced to less than 5%.
Daily Economic News
