From September 25 to September 26, among the listed companies surveyed by institutions, the two companies received 64 and 12 institutions respectively, and the key points of the survey are as follows.
Tuobang Co., Ltd. : New energy sector achieved a growth of more than 60% in the first half of the year; home appliances and tool business provided continuous growth momentum; layout products in the household storage field
On September 25, 64 institutions including Tianfeng Securities conducted research activities on Tuobang Co., Ltd. (002139.SZ), and the board secretary Wen Zhaohui and others answered questions from institutions.
Tuopang Co., Ltd. is a leading provider of intelligent control solutions. The main business includes providing customers with intelligent controllers and intelligent solutions, and providing JDM/ODM/EMS services.
1. The home appliance and tool business provides continuous growth momentum
industry under the influence of the overall environment shows a trend of shifting from global integrated to multi-regional development. The company has made corresponding layouts based on the trend. As the company's basic base, the business is relatively stable, new energy has opened up growth space, and the pace of overseas expansion has slowed down.
tool industry destocked in the first half of this year, demand growth slowed down, and industry demand is currently recovering. The dividends of tool transformation are still there, and there is still a lot of room for development for lithium battery and cordless penetration rate. The tool market is currently mainly concentrated in overseas markets. The combination technology of "electronic control + motor + battery" has certain advantages, and the market share still has room for growth.
Although the demand for the home appliance industry is gradually weakening due to the overall environment, Tuobang has many home appliance product lines and will enter the fields that require technological innovation and have not entered before to explore the market, such as the Indian market, commercial and air products, etc. Although the overseas market share is not high at present, the trend of shifting share to professional third parties and concentrating to the head is relatively obvious. As the industry leader, Tuobang has a lot of room for improvement in the future.
2. The new energy sector achieved a growth of more than 60% in the first half of the year, which is higher than the company's average speed
The new energy sector currently has the main application areas of energy storage and green travel, which is the company's third growth curve. The growth of this sector is accelerating, with growth of more than 60% in the first half of this year, which is higher than the company's average growth rate.
product forms include controllers, motors, power supplies, and batteries. Different product forms have different technologies, and downstream needs and customers are also different, and they will be undertaken by different business units.
Lithium batteries and sodium ion batteries are both battery technology and are undertaken by the same business unit. At the company level, Central Research Institute is responsible for the underlying technology and long-term projects. In the entire new energy sector, the company will have an EMT team to make overall business plans.
Currently, the company provides products and solutions for the application of lithium batteries. It is now an energy storage outlet. It is expected that more application scenarios may explode in the future. Under the opportunities of intelligence and low carbonization, this sector is expected to maintain rapid growth in the future.
3. Further layout the product in the household storage field,
overseas household storage application scenarios are showing an explosive growth trend. The household storage field mainly focuses on household energy storage, RV electrical power supply and other markets. At present, the company mainly provides lithium batteries, and will enrich the product line around this scenario. The main cooperation model adopts an open strategy, mainly including brand, white brand and ODM models, and there are no channels for large-scale development.
Institutional Views
Tianfeng Securities: Looking ahead to the whole year of 2022, the industry's growth logic remains unchanged, and external adverse factors are expected to be gradually eliminated. In the medium and long term, the demand for intelligent society and intelligent control continues to grow rapidly, the company operates in multiple regions, and its leading advantages are highlighted, and the global market share is expected to further increase in the future. Focusing on the general direction of intelligent control, the company has been laying out new energy business segments for many years, focusing on the rapid penetration of lithium battery applications in various industries. With the combined measures such as organizational optimization, cost reduction and efficiency improvement, the company is expected to achieve sustained growth in revenue and profits.
Everbright Securities : The performance of the single quarter in the second quarter of 2022 has significantly improved, and the annual performance is expected. The revenue of the new energy sector increased by 61%, and the high growth trend is expected to continue. Tools and home appliances provide continuous growth momentum.
OpP Optoelectronics : The acquisition of Changguang Aerospace equity has been completed; Chenxin has made outstanding contributions to revenue in the first half of the year; Yuheng Optoelectronics has high competitiveness in the domestic market
htmlOn September 26, 12 institutions including Bank of China Fund conducted a research activity on Optoelectronics (002338.SZ), and the head of finance Xu Aimin answered the question from the agency.OpP Optoelectronics is the main manufacturer of domestic defense photoelectric measurement and control equipment. The photoelectric measurement and control equipment produced is mainly used for new equipment supporting, existing equipment upgrades or national defense scientific experiments.
1. The acquisition of Changguang Aerospace equity has been completed, and the order volume is expected to increase significantly in the next two years
At present, the company's acquisition of Changguang Aerospace equity has been completed. The growth of Changguang Aerospace rockets and missiles is basically the same. The rocket models equipped with Changguang Aerospace are relatively full in mission volume, and missiles are also growing rapidly. Changguang Aerospace has participated in many projects before, and some models have gradually begun to be mass-produced since this year, and the entire military product mission volume has increased significantly compared with the original one.
Among them, rockets and payloads are growing in a supporting manner, so the rocket models supported by Changguang Aerospace are relatively full in mission volume and missiles are growing rapidly. Changguang Aerospace has participated in many projects before, and several models have been successively produced this year.
Changguang Aerospace's product production and operation are almost unaffected by the overall environment. Most of the orders are national models, so the overall delivery progress will not be affected by the overall environment. Orders are expected to grow steadily in the next two years.
2. Chenxin contributed outstandingly to revenue in the first half of the year
Chenxin contributed the most in the absolute revenue value in the third quarter in terms of rapid growth channels. Chenxin's development trend complements the development trend of the chip industry environment. In terms of business, in addition to scientific and industrial chips, it also undertakes some national key projects. The acceleration of development in the past two years is mainly based on the import environment. This trend has just begun and is expected to continue this trend in the future.
3. Increase the military and high-end CNC promotion of Yuheng Optics to improve profitability
Currently, for absolute grating scales and angle encoders, Yuheng Optics has high competitiveness in China, and Yuheng Optics made strategic adjustments last year. Previous products were mainly civilian, with a small number of supporting facilities for military industry or other special industries.
began to increase its promotion of military industry and high-end CNC industries last year, mainly focusing on military industry and high-end CNC. This is also relatively consistent with the current market situation, and the military industry is in a high state of prosperity.
In terms of high-end CNC, one of the is suitable for the needs of national importation policies and the promotion of industrial master machine engineering. Yuheng Optics has launched the industry's only high-end CNC supporting sensor product, which has also been a gradual process since last year. In terms of linear motors, the best thing that Yuheng Optics does is Shangyin Motor, which obtained Shangyin's product certification last year. When the linear motor of Shangyin is equipped with grating ruler , Yuheng Optics' products are in its selection manual.
Customers, company has opened the connections to mainstream domestic and foreign systems such as Siemens , Huazhong, and Guangshu. In addition to Heidehan EnDat2.2, it can already achieve interchangeable connections with other CNC systems . Therefore, the company's grating sensor has a wide customer base, such as Huazhong CNC , Guangzhou CNC, Shenyang machine tool , Dalian machine tool , and Kede CNC, all of which have different aspects and in-depth cooperation.
Institutional Views
West China Securities : Satellites are accelerating their landing, and rockets and satellites will be launched in batches. Changguang Aerospace has a high market share in the aerospace composite material field and has strong growth certainty. Aerospace undertakes the Changguang Institute and Changguang satellite composite materials business, fully benefiting from the acceleration of the commercial satellite industry. Changguangchen Expressway has entered a period of rapid growth, providing important performance support for listed companies. Changguang Institute’s military products market platform has outstanding results in “in vitro incubation”.
Research Source: Shenzhen Tuobang Co., Ltd.'s Investor Relations Activity Record Table on September 25, 2022; Changchun Optoelectronics Technology Co., Ltd.'s Investor Relations Activity Record Table on September 26, 2022 Changchun Optoelectronics Technology Co., Ltd. Investor Relations Activity Record Table
(The content of this article comes from the announcement of a listed company, does not constitute any investment advice, nor does it represent the platform's views. Investors are required to make independent judgments and decisions.)
For more content, please download 21 Finance APP
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-