A-Share Company Behind $2 Trillion Of Apple: Leading Performance Soared More Than 10 Times In The First Half Of The Year

When the market value of apple on the other side of the Pacific breaks through the $2 trillion mark, the related production chain companies of a shares are also very involved in this global feast of technology and capital.

Since August 20, the A-share Apple index has risen by nearly 5%, and the shares of lance technology and golfer have reached a record high in the past week.

Behind the sharp rise of Apple's market value is the superposition of many favorable factors: on the one hand, the epidemic situation eased in the second quarter, and Apple's sales ushered in a recovery growth; on the other hand, Apple's 5g new machine is on sale, and the market has strong expectations for its sales. In addition, Apple's unprecedented sales promotion, market demand for machine replacement, and the continuous surpassing of the expected shipment of wearable devices have all contributed to the sharp rise of Apple's market value.

Driven by this, the industrial status of domestic consumer electronics supply chain has also been improved. According to the results of the semi annual reports of A-share Apple industrial chain companies recently released, the industrial chain has generally achieved profits, and the leading companies have ushered in a sharp increase in performance: the performance of ofight and lens technologies in the first half of the year has increased by more than 20 times and 10 times respectively.

A senior analyst in the electronics industry told reporters, "previously, Apple's sales in the second half of the year were confused because of the epidemic situation, but since the end of June, the market has changed significantly and there has been a recovery growth. At this point, looking forward to the second half of the year, under the strong expectation of 5g mobile phones, the industry is relatively optimistic about Apple sales, and the domestic Apple industrial chain performance will gradually release. "

The performance of leading companies has increased sharply

As of August 26, among the 42 A-share apple industry chains, 35 companies have announced interim reports or performance forecasts, and 27 companies have achieved growth. Among them, the net profit of lens technology and ofight increased by 1322% and 2290% respectively.

The first half year performance of LANs technology was brilliant, and it successfully turned around the deficit: the operating revenue was 15.568 billion yuan, an increase of 37.05% over the same period of last year; the net profit attributable to the parent company was 1.912 billion yuan, an increase of 1322.42% over the same period of last year. The company said that the production and sales of all kinds of products were booming, exceeding the operating target for the first half of the year.

As Apple's core supplier of glass cover, lens technology's supply share in Apple's supply chain has steadily increased. According to a research report released by Soochow securities in August this year, the company and apple have jointly developed a number of glass cover products and realized large-scale commercial use. In the first half of 2020, the company's supply share has reached about 75%.

In the first half of the year, the net profit attributable to its parent company was 502 million yuan, a substantial increase of 2290.28% over the same period of last year. During the period of optical module delivery, the company continued to improve the overall sales volume of optical modules and tablet computers, mainly due to the continuous improvement of the overall sales volume of large customers and flat-panel computers, while maintaining the rapid growth of large customers.

Ofight further pointed out that, benefited from the growth of mobile phone sales and further deepening of cooperation with international major customers, the company's sales revenue of non Android image module products was 3.673 billion yuan, up 95.95% year-on-year; the shipment volume was 55 million pieces, with a year-on-year growth of 30.34%; the comprehensive gross profit rate was 10.94%, with a year-on-year increase of 11.24 percentage points; the main reason was that the increase of orders from international big customers led to the capacity utilization rate Increase the share of dual camera module.

According to public data, ofight is the supplier of Apple lens modules, and the identity of the "international big customer" is self-evident.

"At present, the orders are normal, mainly focusing on the business of optical products and cameras. The company returned to work earlier, and the impact of the epidemic was basically eliminated. The purchase of raw materials is also normal, and there is little impact on overseas customers' orders. "

In addition to these two companies, leading companies such as Changdian technology, Changying precision, Lixun precision, gol shares and other leading companies have achieved rapid growth in performance, with net profit growth of more than 49%.

From the product side, the performance growth of Changying precision, Lixun precision and gol shares is closely related to the surge in demand for wearable devices.

Changying precision achieved an operating revenue of 4 billion yuan in the first half of the year, still making a small increase despite the impact of the epidemic situation and the mobile phone industry. It realized a net profit of 229 million yuan, an increase of 91.10% over the same period last year.

In terms of segmentation, the company's revenue of intelligent wearable products increased by more than 25% year-on-year in the first half of the year, mainly contributed to the growth of smart watch products from South Korea and North America; the revenue of notebook computer products increased by more than one time; the revenue of tablet computer products increased by more than three times.

"The prosperity of TWS earphones and wearable devices is on the rise. With the introduction of new smart watches, AR glasses and other smart wear items, the growth of the smart wear industry in the next 3-5 years is highly deterministic, and the current valuation and cost performance ratio of Apple's leading mobile phone chain are prominent." A securities trader who has been tracking the electronic industry for a long time pointed out.

The second half of the year is still expected to improve

In terms of domestic companies, it is better to pay attention to the profit chain in half a year.

Many industry insiders said that they were optimistic about Apple's shipment in the second half of the year, thus holding a positive attitude towards the growth of domestic industry chain companies in the second half of the year.

"First of all, from the performance of the first and second quarters, the revenue and profits of Chinese companies are far higher than those of the same industry. Apple industrial chain is also constantly injecting resources into China, the market share continues to increase, and mergers and acquisitions in related fields are also in progress. As far as these leading enterprises are concerned, they are also changing their business models, moving from modules to assembly, and improving added value. " Said senior analysts in the electronics industry.

At the same time, he also said that Huawei's limited high-end computers will also bring opportunities to apple, and there are strong market expectations for Apple's mobile phone sales.

In addition to the above benefits, Morgan Stanley also believes that more than 68% of the iPhones used by Chinese users have been older than two years, an increase of more than 8% and 20% respectively compared with last year and the year before last, which means that there is a huge demand for new iPhones in China. At the same time, Apple's 5g new machine will be on sale soon. The introduction of new smart watches, AR glasses and other intelligent wearable items will also drive the performance growth of cursors in the industry chain.

From the perspective of quarter by quarter, the aforementioned securities dealers said: "in fact, from the first half of the year, we can basically infer the situation in the second half of the year. Apple's iPhone 12 is expected to be launched in September, but every year's orders are planned in advance, which has been pushed back one month due to the impact of the epidemic. Previously planned orders are not likely to be affected. The industry chain predicts that the mobile phone shipment will be in November December, the performance of Q3 is slightly lower, and the performance of Q4 and H1 next year will be improved. "

Previously, the uncertainty of the overseas epidemic situation and the news that Apple may remove wechat from the app store have brought a big blow to the apple industrial chain. However, at present, the market is optimistic and thinks that it is unlikely that wechat will be removed from Apple stores in China.

It is not just analysts who hold such an optimistic attitude. The enterprise level also has a high degree of certainty on the performance growth in the second half of the year.

LANs technology pointed out in the semi annual report that the second half of the year is the traditional peak season for the consumer electronics and parts industry, and the demand for orders is expected to increase further. According to the performance forecast for the first three quarters released by golfer, the net profit attributable to the parent company is expected to reach 1.674 billion yuan to 1.871 billion yuan, with a year-on-year increase of 70% - 90%.

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