What happened to”5G Antenna King” Supite? The stock price continued to be sluggish and net profit fell by more than 70%in the first half
Some companies in the 5G industry chain are facing difficulties in the headwind, while others are constantly falling behind. Shubeide, as an old manufacturer of mobile phone antennas, once worked with Xinwei Communications are both the two dominant domestic companies. However, over time, the completely different M&A routes of the two companies led to completely different results. Xinwei Communications While keeping the antenna position, it also realized the extension to the filter, wireless charging and other businesses. Most of the mergers and acquisitions achieved synergistic effects, and The layout of mergers and acquisitions is too wide and the synergy is too low, which has caused the company’s performance to stagnate so far.
Shubeide first half of the year’s net profit decreased by 73.65%year-on-year
August 27 , SPEED released the 2020 interim results report. Data shows that the company achieved operating income of 766 million yuan in the first half of the year, a year-on-year decrease of 9.85%. The net profit attributable to shareholders of listed companies was RMB 24,081,700, a year-on-year decrease of 73.65%. Realized net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of RMB 20,229,900, a year-on-year decrease of 37.19%.
In addition, the company’s net operating cash flow, Earnings per share and other indicators have shown varying degrees of decline. What has the”5G antenna king” stock-word experienced?
The company pointed out in the semi-annual report that 2020 will be a complex and challenging year for the domestic and international economic situation. Affected by the epidemic at the beginning of this year, the release time of some new smart terminal products was delayed, the 5G replacement wave and the supply chain stocking cycle were delayed to a certain extent. At the same time, the Sino-US trade dispute continued, and the United States increased sanctions on leading Chinese technology companies. During the reporting period, the company achieved operating income of 766 million yuan, a year-on-year decrease of 9.85%. Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was RMB 20,229,900, a year-on-year decrease of 37.19%. In addition, in terms of product breakdown, the company’s fingerprint module business revenue dropped by -23.32%. Although the antenna’s operating income increased by 7.55%over the same period last year, its gross profit margin dropped by 5.76%over the same period last year.
The stock price continues to be low, and the overall stock price is below the annual line Operation
2019 is called the”first year of 5G commercial use”, and antennas and corresponding radio frequency devices are important components of base station equipment. SPEED also benefited from the market’s pursuit of 5G concept stocks. From the beginning of 2019 to October 14, stock-word has increased by more than 185%. Since then, the company’s stock price has shown an overall downward trend. On October 15th, the stock price has a flash crash and a lower limit, and the direct fuse of the stock price limit is a major change in the performance of the third quarter.
On the evening of October 14, Shubeide released its first three quarters performance forecast. According to disclosures, the company expects the net profit attributable to shareholders of listed companies from January to September 2019 to be 100 million to 110 million yuan, a year-on-year increase of 90.55%to 109.60%.
At first glance, the first three quarters of Shubeide are pretty good, but take a closer look. The quarter has completely”dumbfounded” investors. According to disclosures, the company expects the net profit attributable to the parent from July to September to be 11 million to 13 million yuan, a year-on-year decrease of 25.93%to 37.32%.
It is worth mentioning that at the same time that the performance explosion announcement was disclosed, the executives of stock-word Can’t wait to reduce holdings. According to the announcement on October 15 last year, the company’s actual controller and chairman Zhu Kunhua, deputy general manager Zhang Haiying, and deputy general manager Yang Qiang planned to reduce their holdings by no more than 3.9 million shares within six months after 15 trading days ( Accounted for 0.9588%of the company’s total share capital), 51,000 shares (accounting for 0.0125%of the company’s total share capital), 92,200 shares (accounting for 0.0227%of the company’s total share capital). Judging from today’s closing price, the amount of reduction is nearly 100 million yuan.
Time to enter 2020, Shubeide The first quarter report shows that the first quarter It closed at 323,484,010.11 yuan, a year-on-year decrease of 16.67%; the net profit attributable to shareholders of listed companies was 5,914,290.38 yuan, a year-on-year decrease of 67.57%. In the first half of 2020, the net profit attributable to shareholders of listed companies was RMB 24,081,700, a year-on-year decrease of 73.65%.
In the secondary market, the company continued to be in a downturn from March to the end of August, and the overall operation was below the annual line.
Shubeide plans to raise 680 million yuan to expand production p>
At the beginning of this year, Shubeide released a plan for fixed increase, and plans to raise 680 million yuan, mainly for 5G Expand the production of base station antennas, terminal antennas and vehicle antennas, and supplement working capital. On July 3, the company published a prospectus (application draft) for the non-public offering of A shares on the Growth Enterprise Market.
In this regard, the company stated in the semi-annual report that the company reviewed The approved non-public issuance of A shares is progressing smoothly. It has been reviewed by the Shenzhen Stock Exchange and can be implemented after the China Securities Regulatory Commission agrees to register. The funds raised by the company this time will be mainly invested in the”5G base station and terminal antenna expansion project”,”vehicle integrated smart antenna upgrade and expansion project”,”5G heat dissipation component construction project”, through the construction of this non-public fundraising project , The company will increase investment in the research and development of 5G base station antennas, terminal antennas, smart car antennas, and 5G millimeter wave RF front-end antenna modules, improve product technology, and lead 5G product innovation and industry landing.
In 2013, Shubeide increased the capital of Sungrow with 63 million yuan and became its controlling shareholder. Begin to lay out chip packaging. However, due to the long delay in operating conditions, in 2019, Supite divested its asset-heavy semiconductor chip packaging business and replaced the main The operating business further focuses on the antenna radio frequency business with radio frequency technology as the core, providing customers with diversified requirements from mobile terminal antennas, system-side base station antennas to in-vehicle smart antennas, fingerprint identification modules, heat dissipation components and other product development and manufacturing requirements.
However, from the perspective of the company’s historical gross profit margin and net profit margin, the company’s net sales margin has been in a meager state for a long time. In the first half of this year, although the antenna’s operating income increased by 7.55%over the same period last year, its gross profit margin was There was a decrease of 5.76%in the same period last year. Whether the subsequent fund-raising and production expansion can meet the desired expectations is perhaps still unknown.