Huaxing Yuanchuang: Layout wearable power semiconductor

A few days ago, Apple’s market value reached a new high, becoming the first company in the US stock market with a market value of more than 2 trillion US dollars. Morgan Stanley believes that more than 68% of the iPhones currently used by Chinese users are older than two years, which is an increase of more than 8 and 20 percentage points compared with last year and the year before, which means that China’s iPhone The need for replacement is huge. And, it is reported that Apple’s upcoming iPhone 12 models will no longer give away headphones and chargers. In the future, the prosperity of Apple’s wearable device industry chain may exceed expectations, attracting a large number of listed companies to make strategic arrangements for it. As the first listed company listed on the Science and Technology Innovation Board, Huaxing Yuanchuang (688001) has quickly intervened in the field of smart wearables through the acquisition of Ou Litong this year.

Acquired Oriton to lay out the field of wearable product testing

The object of this acquisition, Ou Litong, is a manufacturer of intelligent assembly and testing equipment in the consumer electronics industry. Unlike the listed company’s flat panel Display testing equipment and integrated circuit testing equipment product lines, Ou Litong mainly provides customers with various types of automated intelligent assembly and testing equipment. The products are widely used in the consumer electronics industry represented by wearable products (such as smart watches, wireless headphones, etc.), and are used in the assembly and testing of consumer Electronic terminals such as smart watches. With excellent R&D capabilities, customized design and development and rapid response capabilities, it has become a unique and advantageous supplier of consumer electronics intelligent assembly and testing equipment in the industry, successfully entered the Apple company’s manufacturer supply chain system, and obtained qualified supply from major customers. Business qualification certification, and formed a long-term and stable cooperative relationship with customers. At present, Olympus customers include Quanta, Compal, Luxshare and other large electronics factories, and the supplier qualification is stable. In previous institutional surveys, the company said that even during the epidemic, Olympian’s ability to accept orders was not affected at all. Tianfeng International expects AirPods supplier shipments to grow strongly in 2021.

Through this acquisition, Huaxing Yuanchuang further expands product categories and obtains new profit growth points through Ou Litong. At the same time, Ou Litong can use the platform of listed companies to improve market recognition, reduce production costs and improve operations through intensive procurement, cross-marketing and other methods. efficiency, and with the help of Huaxing Yuanchuang capital platform to expand financing channels and enter the fast lane of development. Through this acquisition, the listed company can further increase its pricing power over upstream suppliers, reduce operating costs, accelerate product upgrading, open up market space, and improve the listed company’s strategic layout in the testing field. Champion” goal is also one step closer.

Panel business continues to develop semiconductor testing and achieves major breakthroughs

Huaxing Yuanchuang is a leading enterprise in the domestic panel testing field, and the panel testing business is also an important source of the company’s revenue. The company’s flat panel display testing equipment is mainly LCD testing equipment, and the market size of OLED testing equipment has grown rapidly. At present, the global OLED industry is in a stage of rapid growth, and the proportion of flexible OLED screens and domestic production capacity is steadily increasing, and the proportion will increase in the future. At present, it has established good cooperative relations with Samsung, Apple, LG, BOE and other well-known domestic and foreign companies.

It is worth mentioning that in the field of semiconductor testing, in 2019, the company broke the monopoly of manufacturers such as the United States and Japan on testing machines for ultra-large-scale SOC chip and memory chip testing, and achieved breakthroughs in customized semiconductor testing equipment. Among the few companies that can independently develop SOC chip test equipment, the self-developed E06 series test system has strong market competitiveness and high cost-effectiveness in core performance indicators. As a result, the company has achieved an operating income of over 100 million yuan for battery chip testing equipment products (BMS chip testing equipment), which has enriched the company’s product line and also enabled the company to achieve a substantial increase in operating income in 2019.

In the future, with industrial upgrading and production transfer, domestic semiconductor testing equipment will have brilliant prospects. Huaxi Securities once stated in a research report that test equipment semiconductors accounted for 8% of semiconductor equipment, second only to wafer manufacturing equipment. The domestic semiconductor self-sufficiency rate and demand are gradually increasing, and the future market is broad. With the improvement of technical level and the vigorous construction and expansion of domestic production capacity, domestic investment in semiconductor equipment will increase steadily, and it is expected to reach 11.8 billion US dollars in 2020, and the corresponding testing equipment will also increase accordingly, and it is expected to reach 979 million US dollars in 2020. .

The company also stated that on the basis of 2019, it will continue to increase market expansion efforts and R&D investment for special customers who demand customized semiconductor testing equipment products, and strengthen the company’s absolute advantage in the product line. At the same time, through the newly established subsidiary, Strengthen resource integration, achieve breakthroughs as soon as possible in standardized SOC chip testing equipment and standardized translational chip sorting machines, and enrich the company’s semiconductor equipment product line.

The Links:   NL2432HC22-36B XCR3064XL-10VQG44I