In recent years, due to geopolitical and environmental impacts such as US sanctions and the epidemic, many Chinese high-tech enterprises have faced severe operating pressure, among which semiconductors, sensors and other industries have been greatly affected. After domestic enterprises were "blacklisted" by the United States, their operating income declined, they lost money year after year, and their stock prices ...... halvedOccur.
Recently, a number of listed sensor companies have disclosed their 2023 annual performance forecasts, and it is worth noting that a number of sensor companies have turned losses into profits, including domestic sensor companies affected by US sanctionsThe three-year loss was 9.6 billion yuanThe performance has regressed in three yearsChina's No. 1 fingerprint sensor company will finally usher in growth in 2023!
Before Huawei was sanctioned,They are the first customers of these two sensor companies! The U.S. sanctions on Huawei have not only hit Huawei as a company, but also hit the huge domestic technology industry chain behind it.
was sanctioned by the United States and abandoned by Apple, with a loss of 9.6 billion yuan for three consecutive years! With the outbreak of Huawei Mate 60 mobile phones, it has finally turned a profit! Huawei is the biggest customer!
On January 23, the camera module and optical photoelectric sensor OFILM released its performance forecast for 2023
It is expected to be attributable to shareholders of listed companies during the reporting periodThe net profit was 69 million yuan to 95 million yuanThe net profit after deducting non-recurring gains and losses was 245 million yuan to 311 million yuan, and the basic earnings per share was 002 yuan share - 003 yuan shares.
After three years, OFILM has achieved profitability for the first time! Previously,Cai Rongjun, chairman of OFILM, said to **: "Stubbornly live. In one sentence, it expresses the sadness of OFILM in the past 3 years. Today,The Chinese company finally breathed a sigh of relief.
In 2019, Huawei was officially sanctioned by the United StatesIn July 2020, OFILM was placed on the "Entity List" by the U.S. Department of Commerce for "human rights violations in certain regions of China".In March 2021, OFILM was officially kicked out of the ** chain by Apple.
According to OFILM's relevant annual report, the revenue in 2019 was 51.9 billion yuan and the net profit was 500 million yuan, and in 2020, the revenue was 48 billion yuan and the loss was 1.9 billion yuan, the revenue in 2021 was 22.8 billion yuan, the loss was 2.6 billion yuan, and the revenue in 2022 was 14.8 billion yuan, and the loss was 5.1 billion yuanFrom 2020 to 2022, OFILM lost a total of about 9.6 billion yuan.
It is worth mentioning that although OFILM was previously a "fruit chain" enterprise, according to the 2019 annual reportIts sales to its largest customer, Huawei, accounted for 3116%, reaching 16.2 billion yuan, while Apple is its second largest customer, accounting for 2251%, about 11.7 billion yuan.
*: OFILM's 2019 annual report.
Around 2019, OFILM's revenue exceeded 50 billion yuan, and its market value reached 70 billion yuan, which was the peak moment of OFILM. After entering 2020, various events have caused OFILM to lose its self-esteem one after another.
1. The orders of the second largest customers, Huawei and Apple, will have their revenue fall to 14.8 billion yuan in 2022, and their market value will fall to 15 billion yuan - a three-quarter contraction!
Since then, although OFILM will be removed from the "entity list" by the United States in 2022, OFILM has been "greatly injured" at this time and has been unable to make a profit. According to OFILM's performance report for the first three quarters of 2023, its revenue in the first three quarters was still in a state of loss: OFILM's revenue in the first three quarters was 10.8 billion yuanThe net profit attributable to the parent company was a loss of 29.9 billion yuan.
Until the end of August 2023, on the occasion of U.S. Secretary of Commerce Raimondo's visit to China, Huawei launched its flagship product, the Mate 60 Pro smartphone. The hot sale of Mate 60 series mobile phones, OFILM, as one of Huawei's main leading suppliers, was "saved".
According to previous **chain sources: in the Mate 60 series,OFILM's camera modules are all involved in the first and account for the vast majority of the share, including rear cameras, front cameras, and fingerprint (sensor) modules, with a single value of 500-600 yuan. "OFILM's factory in Nanchang has recruited thousands of new people in the past six months, and many production lines have been added. ”
In the performance forecast, OFILM mentioned the main reasons for the turnaround in operating performance in 2023, the first of which was: "1. During the reporting period,Benefiting from the significant increase in end-customer demand and sales revenue in the second half of the year, the company's full-year operating income in 2023 is expected to increase year-on-year, driving the company's capacity utilization rate to increase ......”
After the catastrophe in 2019 and 2020, OFILM has carried out business expansion and transformation, and has now formed a business structure system of three major sectors: smart phones, smart cars and new fields
Smartphones:Including high-end lenses, camera modules and other optical core businesses, as well as 3D TOF sensors, fingerprint recognition sensors and other microelectronic core businesses, gradually consolidate and increase market share, maintain the global leading position in the field of optics and optoelectronics.
Smart Cars:Relying on its technical advantages in the field of optics and optoelectronics, the company has an in-depth layout of intelligent driving, body electronics and intelligent central control, based on optical lenses and cameras, extending to millimeter-wave radar, lidar, head-up display (HUD) and other products.
New Frontiers:The company continues to strengthen the research and development of related products in new fields, and has a multi-faceted layout of optical and optoelectronic businesses in new fields such as smart home, VR AR, industrial, medical, and sports cameras, which will be established from April 2022Metaverse Division and IoT (Internet of Things) Ecosystem DivisionAmong them, the IoT Ecosystem Division covers smart door locks, webcams (IPC), robots and other related products; The Metaverse Division is responsible for the manufacturing of optical lenses, image modules, opto-mechanical modules and complete machine assembly in the VR AR field.
*: 2020 OFILM Annual Report.
The underestimated winner of domestic substitution, Huawei's business once accounted for 40% of revenue, and fell into recession after being sanctioned! Revenue growth for the first time in 3 years! 2023 Turnaround!
On January 30, Goodix, China's largest fingerprint recognition sensor chip company, released its 2023 annual performance forecast:
It is expected to achieve an annual operating income of about 440,500 yuan in 2023, a year-on-year increase of 30about 2%; net profit attributable to owners of the parent company ranged from RMB132 million to RMB182 million; The net profit attributable to owners of the parent company after deducting non-recurring gains and losses was RMB101 million to RMB151 million.
This is Goodix's first performance growth in three years since 2020, and the growth rate is more than 30%, which is also due to Huawei, although the United States has not directly sanctioned Goodix, but the United States' blow to Huawei has also hit the domestic technology industry chain behind Huawei.
According to Goodix's previous performance reports, in 2019, Goodix's operating revenue reached 647.3 billion yuan, a year-on-year increase of 7395%, and the net profit attributable to shareholders of the listed company was 231.7 billion yuan, a year-on-year increase of 21210%, deducting non-net profit of 218.9 billion yuan, a year-on-year increase of 22576。
This was the pinnacle of Goodix, and Goodix was the absolute leader in the field of fingerprint recognition in the world. In February 2020, its share price hit an all-time high of 38720 yuan, which is about 20 times higher than the stock price when it was listed, and the market value reached 17023.6 billion yuan
In 2018, Goodix ranked first in the market share of fingerprint sensors, **sigmaintell
However,Goodix's largest customer, Huawei, was sanctioned by the U.S. in 2019, and revenue from Huawei accounted for about 30-40% of Goodix's total revenueAfter Huawei's crackdown by the United States, its mobile phone terminal business shrank rapidly, and Apple seized the opportunity to seize the market share of Huawei's large number of high-end mobile phones - no other domestic mobile phone manufacturer can take Huawei's share of Goodix.
At the same time, in the face of a shrinking consumer market, as well as from QualcommUltrasonic fingerprint recognition sensor chipDue to strong competition, Goodix's revenue fell into negative growth from 2020 and began to lose money in 2022. Goodix's operating revenue in 2020 was 668.7 billion yuan, a year-on-year increase of 331% and a net profit of 165.9 billion yuan, a year-on-year decrease of -284%；The operating income in 2021 is 571.3 billion yuan, a year-on-year decrease of -1457% and net profit of 8600 million yuan, a year-on-year decrease of -4817%；The operating income in 2022 is 338.4 billion yuan, a year-on-year decrease of 4077% and net profit of -74.8 billion yuan, a year-on-year decrease of -18694%。
In the earnings forecast, Goodix pointed out that the main reasons for the pre-profit of the current period are: ".It was ...... due to the increase in demand from end customers and the adjustment of inventory structureGoodix's shipments increased significantly year-on-year, and inventories decreased significantly.
According to the latest report from TechInsights, as of the third quarter of 2023Qualcomm has replaced Goodix as the world's No. 1 fingerprint sensor for smartphonesGoodix Technology ranks second in the world.
Previously,Ming-Chi Kuo, a well-known market analyst, praised Goodix as an "undervalued domestic substitution winner".。According to the internal information of the ** chain disclosed by it,Goodix's ambient light sensor, NFC chip, and ultrasonic fingerprint recognition sensor chip will replace international manufacturers such as AMS, NXP, and Qualcomm respectively, and become the core leaders of Huawei, OPPO, and vivo
Goodix is expected to become Huawei's new Ambient Light Sensors (ALS)* vendor in 2024, replacing AMS.
Goodix is OPPO's exclusive NFC chip provider, replacing NXP, and is expected to continue to receive orders for high-end models from other brands.
Goodix is expected to become the second largest ultrasonic fingerprint merchant in vivo in 2024, breaking Qualcomm's monopoly.
*: Guo Mingqi's personal blog.
At present, Goodix's main products cover five major sectors: sensing products, touch products, security products, and wireless connection products.
Its sensing products mainly include fingerprint sensors, health sensors, light sensors, etc. The fingerprint sensor has ranked first in the world in terms of market share for many years; Health sensors, light sensors, multi-functional interactive sensors, etc., continue to upgrade and iterate, and gradually gain market advantages.
Conclusion
It can be seen that for both OFILM and Goodix, Huawei was its largest customer before being sanctioned.
The U.S. sanctions on Huawei have not only hit Huawei as a company, but also hit the huge domestic technology industry chain behind it - this is the purpose behind it.
In 2019, the comprehensive sanctions imposed by the United States on Huawei brought the development of domestic sensor companies such as OFILM and Goodix Technology to a standstill.
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