According to the micro-network news, Aiwei Electronics released its 2017 financial report a few days ago. The financial report shows that the company achieved revenue of RMB 522 million in 2017, an increase of 58.99% year-on-year; net profit attributable to its mother was RMB 51,113,500, an increase of 153.64% year-on-year. , Ai Wei Electronics’ total assets were 442 million yuan, net assets were 203 million yuan, net cash increase was 119 million yuan.
Aiwei Electronics stated that the growth of the company's performance was mainly due to the fact that the company's customer base has basically covered domestic mobile phone brand companies and ODM plan companies for global brands, as well as well-known intelligent hardware IoT products. The company’s market scope is centered on mobile phones. Extend to IoT and other intelligent hardware, and have established good cooperation with first-line brand customers, such as Huawei, OPPO, VIVO, Xiaomi, ZTE, Lenovo, MOTO, Meizu, TECNO, Amazon, JBL, NOKIA, LG, B&W And Mattel, the world's largest toy brand.
From the perspective of R&D and intellectual property rights, as the country's support for the IC industry has increased, the IC industry has ushered in new challenges and opportunities. Technology R&D is the company's lifeline, and Aiwei Electronics has focused on technological innovation since its establishment. It also attaches great importance to the protection of independent intellectual property rights; In the aspect of intellectual property rights, Aiwei Electronics actively protects independent innovation property rights and applies for each patent in a timely manner. In 2017, it obtained 4 invention patent authorizations and 23 certificates of layout registration of integrated circuits.
Aiwei Electronics is mainly engaged in the design and sale of analog and digital-analog hybrid circuits for audio, power, and radio frequency functional chips. This type of product is an integral part of various electronic devices. It can be used not only in smartphones, tablets, The emerging market of intelligent hardware such as wearable, smart audio and IoT Internet of Things, the application of its functions can also be extended to other electronic devices. This overall functional demand will continue to exist along with a variety of electronic products and devices. Will continue to evolve and change in the specific indicators and functional combinations.
Currently, the life span of many basic functional integrated circuit products has lasted for more than 20 years, but it has only been improved and improved with the development of power integration technology in various performance indicators. Therefore, the long-term market demand for such integrated circuits And market extensibility will be the external driver for Aiwei Electronics’ continuous operation, and at the same time, it will combine Aiwei Electronics’ advantages in product, R&D and intellectual property rights. The overall growth will be significant. (Proofreading/Fan Rong)
2. Beijing Junzheng’s main business for 4 consecutive years of loss of assets and liabilities ratio of only 2.76% was suspected of misappropriating money;
Reporter trainee reporter Xiang Yantao IC design firm Beijing Jun Zheng (31.920, 1.00, 3.23%) is experiencing a period of transformational pains. Since the listing of the company for seven years, this listed company does not seem to have enjoyed the bonus brought by capital. April On the evening of the 16th, Beijing Junzheng was publishing its first quarterly report for 2018. Although net profit realized a growth of 44.46%, non-net profit continued to lose momentum, which was -456 million yuan, a decrease of 151.91% compared with the same period of last year.
And its recently released 2017 annual report showed that the non-net profit loss was RMB 18.44 million. This is the fourth consecutive year that Beijing Junzheng has lost its main business since 2014.
The "Securities Daily" reporter noted that Beijing Junzheng had created a three-year deduction of non-profit growth myths before its listing in 2011. However, the first year of listed net profit fell by 27.64%, compared to 2017 net profit compared to 2011. The year has shrunk by 92.68%. At present, the profit of Beijing Jun Zheng mainly comes from wealth management income and government subsidies, and its 2011 listing raised 820 million yuan of funds still more than half idle. Flush (47.500, -2.66, -5.30%) iFinD data show that In 2017, the asset-liability ratio of Beijing Junzheng was only 2.76%. As of April 17th, it was the lowest among the 1831 listed companies that had published annual reports.
Sustained losses
In fact, before the IPO in 2011, Beijing Jun Zheng ushered in a period of rapid development. According to the Beijing Jun Zheng prospectus, from 2008 to 2010, the company’s net profit increased by 809.13% and 51.50% respectively over the previous year. 27.08%. On the eve of listing, the net profit of the company in 2010 was as high as 88.81 million yuan, and the net profit after deduction was also 81.74 million yuan.
However, since the listing, Beijing Junzheng profit has continued to decline. In the first year of listing, there was a decline in performance, revenue decreased by 18.39% to 168 million yuan; deduction of non-net profit decreased by 35.98% to 52.33 million yuan. Net profit decreased by 85.2% to 7.73 million yuan. By 2014, the company's revenue was only less than 30% of that before the listing. Deducting non-net profit was the first time a loss reached 14.37 million yuan. Even if it counts financial income and government subsidies, net profit for the year After the loss of profits, the company continued to lose a total of 12.75 million yuan. Later, despite the financial gains and government subsidy, the company avoided the ST risk, but the non-deductible net profit continued to lose.
For the reason that the company’s performance has been declining since its listing, Beijing’s Executive Secretary Zhang Min told the “Securities Daily” reporter that the company had been developing well before the IPO, but due to changes in the global industrial landscape, the emergence of Android tablets and smartphones , The company's products are facing software compatibility issues. Since 2011, revenue has decreased, which has caused the company's development to meet resistance. In 2013, the company began to work hard to find the direction of the business, and it turned to wearable devices, but it did not reach expectations. Afterwards, the company also opened up to include intelligence. In the IoT and security markets, including home, due to fierce market competition, the company entered late, and relatively speaking, the gross margin was low, resulting in no profit reflected.
It is understood that Beijing Junzheng’s early CPU chip products have successively entered fingerprint recognition, learning machines, dot reading machines, electronic dictionaries, PMPs, e-books, netbooks, student computers and other subdivided fields. But with the rise of smart phones, education Electronic is replaced by a student tablet. Beijing Jun is starting to transition to wearable devices and the Internet of Things in 2013.
Zhang Min said that the company has been exploring the direction of business. At present, the company mainly includes two major business segments: microprocessors and intelligent video. Among them, the smart video that was newly opened in 2014 is the company's current focus in the development of business areas, and the company is optimistic. The security market, although the current profit is not reflected, but will continue to promote the continuous expansion. In addition, the company will begin to increase the relative high-end chip models this year in order to increase gross profit margins, on the whole the company's entire business is moving forward.
Investment caution
On the one hand, the performance was on a roller coaster ride, while the other was the change in the idleness of listed funds and the raising of investment projects. In 2011, Beijing Junzheng was listed and raised 820 million yuan, but after a lapse of 7 years, 5 promises were initially made. Three of the investment projects have been changed and there are still 440 million yuan unused.
In addition, the "Securities Daily" reporter inquired that flushing iFinD found that in 2017, the asset-liability ratio of Beijing Junzheng was only 2.76%. As of the afternoon of April 17, it was the lowest among 1831 listed companies that had published their annual reports.
Flush iFind data shows that under the holistic approach, the asset-liability ratio of the integrated circuit sector in 2017 was 50.61%.
For a long time, Beijing Junzheng has maintained a very low debt-to-asset ratio. Since its listing in 2011, the company’s asset-liability ratio has remained within 4%, of which only 1% in 2013 and 2014. Before the IPO, Beijing was listed in 2010. The asset-liability ratio of Jun Zheng is only 13.56%.
'For such companies, not only is there no IPO necessary, but there is still a large amount of money suspected. The low debt-to-equity ratio of listed companies means that they can own more of their own funds simply by relying on their own profitability. Larger external financing. At the same time, there may be a series of issues such as the lack of a clear investment direction of the company and the unclear strategy. 'The economist Song Qinghui said to the Securities Daily reporter.
A securities firm’s computer industry researcher also told the “Securities Daily” reporter that the raised investment funds have not been invested, indicating that there was no good investment in raising funds from the beginning. IC investment in the design field is relatively high risk, investment cycle is long, the amount of investment Also big.
Gu Wenjun, chief analyst of the semiconductor research organization's core research, said that Beijing Junzheng’s investment is indeed a bit cautious, but because the IC design industry is indeed highly uncertain, careful treatment of raised funds can also be understood. There is no good fund raising. At the time of the project, they can only temporarily make some money to increase their income.
Zhang Min admits that Beijing Jun is cautious about investing. 'The IC industry has changed quite a lot. We couldn't see clearly in the early days, and we didn't dare to buy it. If there is a suitable merger and acquisition, we will also pay attention, but at present domestic integrated circuit design companies There are not many suitable ones. I hope there is more consideration for security. '
At the end of 2016, Beijing Junzheng had launched the 'Shou Tun Xiang' type of major asset restructuring plan, intended to issue shares and pay cash to purchase 100% equity of Beijing Haowei, depending on 100% equity of Xinyuan and 40.43% equity of Sibico, total share payment. The price is as high as 10.477 billion. We hope to cover the high, medium, and low areas of the image sensor through Cowell Technology and Spike. However, due to the 'big changes in the objective conditions of the domestic securities market environment, policies, etc.', This restructuring was terminated in March 2017.
Insufficient development
The “Securities Daily” reporter noticed that after the listing, even if the raised funds were idle, Beijing Junzheng’s R&D investment did not increase significantly. In 2015, the number of R&D personnel in the company was 237, accounting for 80.89%, and the number of R&D personnel in 2017 was 182. The number of people accounted for 77.45% of the total; the amount of R&D only increased from 51 million yuan in 2015 to 56.74 million yuan in 2017, accounting for 37% of the revenue from 72.75%.
Zhang Min stated that the decrease in the number of R&D personnel was due to the company's disposition of a subsidiary in 2016, which resulted in a corresponding reduction in the number of R&D personnel in the consolidated statements. The decrease in the proportion of R&D investment was due to the significant increase in revenue. The input is to plan the personnel structure based on the research and development progress requirements of the existing projects. At present, the company's business mainly includes two pieces of intelligent video and microprocessors. If there are more business aspects in the future, it will increase the number of R&D personnel.
According to the above-mentioned brokerage figures, although the proportion of R&D investment is not low from the perspective of the company itself, it is difficult for R&D investment of tens of millions of yuan per year to be large compared to the talent-fund-intensive intensive IC design industry. effect.
According to Zhang Jun, a consulting analyst at IC Research Institute, the predicament faced by Beijing Junjun is actually a microcosm of domestic SOC (system-on-chip) design companies. For microprocessor manufacturers, the selection has a scale effect. The market application direction is very important, but the emerging terminal applications are diversifying. Enterprises are faced with decentralized markets and fragmentation challenges. It is difficult for companies to choose the direction of application with both scale effect and sustained growth momentum. There are also a large number of IC design companies and they face fierce competition. Most domestic chip design companies mainly focus on the low-end market, and their profit margins are limited.
Gu Wenjun also stated that the domestic semiconductor industry, especially the integrated circuit design industry, started relatively late, resulting in the overall domestic industry level lagging behind in the international market, leading in technology, enterprise scale, R&D investment, industrial status, industry influence, etc. On the other hand, there is still a certain gap with the world-class companies.
'This kind of company needs to continue to invest in research and development, strengthen its own core technology, and constantly seek new market development opportunities. Of course, it also includes good opportunities for mergers and acquisitions.' Gu Wenjun said. Securities Daily
3. Legend Holdings has gained 2.175 million shares in Ziguang Group, with more than 54 million investment;
According to the latest information from the Hong Kong Stock Exchange, Legend Holdings (25.15, 0.25, 1.00%) (03396-HK) received Ziguang Group Co., Ltd.'s holding of 2.1753 million shares at an average price of HK$24.9951 per share on the venue on April 13th. HK$54.37 million. After the increase in holdings, Ziguang Group's latest holdings amounted to 32.298 million shares, and its shareholding ratio rose from 7.69% to 8.24%.
4. Hengkun shares will raise 65 million investment semiconductor new materials;
On April 17, Hengkun Co., Ltd. (832456) announced that the company intends to issue no more than 6.5 million shares (including shares) at a price of RMB 10 per share. It is expected that the funds raised will not exceed RMB 65 million (inclusive).
It is reported that Hengkun shares this fundraising is in line with the national integrated circuit development strategy, involved in the field of new semiconductor materials, intends to invest in the construction of semiconductor materials TEOS (tetraethyl orthosilicate) special gas plant and the implementation of the
5. North Huachuang: Leading semiconductor equipment import and replace the wind;
North Huachuang is a strategic restructuring of Qixing Electronics and North Microelectronics. It is a leading semiconductor equipment company. The company's main businesses include semiconductor equipment, vacuum equipment, new energy lithium battery equipment and precision components. The company has completed major operations since 2016. After the reorganization of assets, the business performance increased significantly. In 2017, the company’s revenue was 2.223 billion yuan, an increase of 37.01% year-on-year; the net profit attributable to the mother was 126 million yuan, a year-on-year increase of 35.21%. In 2017, semiconductor equipment business revenue accounted for 50% of total revenue. The above; business revenue of electronic components accounted for 35% of total revenue. The company's 2017 advance receipts increased by 180% year-on-year, and inventory increased by 72.58% year-on-year, indicating that the company has sufficient orders in hand and future growth is guaranteed.
Semiconductor Equipment: Import substitution, riding on the wind
Mainland China is the third largest semiconductor equipment market in the world, but domestic semiconductor equipment self-sufficiency rate is less than 15%, and there is huge space for import substitution. The company's semiconductor equipment involves integrated circuits, advanced packaging, LED, MEMS, power electronics, flat panel displays, photovoltaic cells, etc. Semiconductor related fields. At present, the company's Etch, PVD, single chip annealing equipment, vertical furnaces, washing machines, etc., a number of 12-inch key integrated circuit equipment to achieve the application in the domestic leading OEM companies and leading storage companies, 8 Inch equipment also fully enters the domestic mainstream foundry and IDM companies.
Other Businesses: Keeping pace with others and stabilizing development
The company's vacuum equipment, lithium battery equipment and precision components business go hand in hand and develop steadily. Vacuum equipment: PV single crystal furnace provides the majority of capacity supply for Xi'an Longji. Lithium equipment: At present, the company has more than 95% of lithium ions in the country. Batteries Research Institute, manufacturing companies provide battery manufacturing equipment. Precision Components: The company continues to develop new products through independent innovation, and gains the trust of customers from all walks of life with excellent performance, and continuously realizes import substitution. Everbright Securities
6. Fast on screen fingerprint security is still a consideration;
Fingerprint recognition module thickness, power consumption continues to decrease Security is still an important consideration
One of the challenges of using under-screen fingerprint recognition in full-screen mobile phones is the module's thickness and power consumption. Godfrey Cheng, vice president of marketing at Synaptics, said: 'The Clear ID consumes low power and is suitable for Android's low-power mode. The first generation of modules The vertical height is only 0.69mm. For today's smart phones, there is no problem with the use. Looking into the future, we will continue to reduce the power requirements of the module and reduce its physical size.
According to Lin Ruijian, general manager of Duntai Electronics Group and Dentex Optoelectronics, 'aTOM onFlux ID solution does not follow the traditional penetration technology's comfortable R&D direction, but uses patented nano-micro-opto-electromechanical fingerprint sensing technology to try to avoid a full screen mobile phone. The more sensitive space locations, such as the space below the AA display area, are all given to the battery, and are taken in a destructive innovative optical waveguide approach, resulting in low power consumption, small module area without battery position, no distortion and no Due to the influence of strong light, the reaction speed is fast, the cost structure is reasonable, there is no need to change the panel design, and it does not affect the obvious advantages of the panel process. Of course, any destructive innovation must have the full range of technical breadth and depth of technology. MEMS design and SiP system-level packaging technology is one of the key technologies that Dunjie will have to master 100% of its fingerprints under ultra-thin and low-power aTOM onFlux ID screens in 2018.
Therefore, under the joint efforts of the whole industry chain, under-the-screen optical fingerprint products that meet the requirements of full-screen mobile phone size, power consumption, and functional requirements are gradually introduced to the market. However, fingerprint recognition is inevitably used as a biometric method in mobile phones. Unlock and pay for the scene, so security can not be ignored. Lin Ruijian said that due to mobile phone security verification and payment verification in different application levels of different requirements, so aTOM OnFlux ID in the security verification stability and user experience beyond comfort Depending on the application, biosafety verification can be enhanced with higher security; for example, adding biomedical information (heart rate, etc.) during biometric verification, biometric biometric identification to enhance safety, and real-time artificial intelligence pseudo fingerprints for power-on safety verification. Identification technology to increase customer experience comfort.
Godfrey Cheng introduced: 'Synaptics is a founding member of the FIDO Alliance. The Synaptics SentryPoint Security Suite includes SecureLink technology that also supports TLS protocol, ECC authentication and AES encryption. This highly secure transmission is protected against the latest industry standards and can be protected. End-to-end transmission of data from the fingerprint sensor to the host. The Synaptics Quantum Matcher technology is used for fingerprint template matching and authentication.
Fingerprints on the screen will speed up the future Fusion with 3D face recognition enhances security
It can be seen that different manufacturers of fingerprint identification chips have their own unique solutions to the problem of screen penetration, identification capability, size, power consumption, security, etc. The mass production progress is also different. Vivo with Synaptics Clear ID X20 Plus UD has been fully put into production, the production model can also achieve fingerprint recognition in a specific area of the screen. Lin Rui Jian optimistically speculated that onFlux program will quickly increase in one year, and have the best chance to become the most widely mobile phone industry in the future The use of fingerprint security and payment verification program under the screen, in particular LCD mobile phone screen fingerprint program.
Huidi Technology, a domestic manufacturer of fingerprint identification chips, is also actively researching under-the-screen fingerprinting technologies. At the Computex 2017 Taipei Computer Show, the Samsung Galaxy S7 edge was used to display the progress of its fingerprints on the screen, but it can only be used on AMOLED screens. The speed of unlocking is also It has not yet reached the level of traditional touch fingerprinting. On MWC 2018, Huiding Technology released its second-generation optical fingerprint technology under the screen, which is characterized by better performance and better user experience. It is expected to achieve mass production in 2018.
In addition to the rapid advancement of fingerprint manufacturers under the optical screen, Sweden FPC also announced in November 2017 a solution that can capture and identify user fingerprints anywhere on the mobile phone display panel. It is reported that the in-display technology is based on ultrasonic sensor technology and can be worn. The 2cm-thick glass acquires fingerprint information and supports OLED and LCD display. However, the mobile phone equipped with this solution has not been seen yet.
Obviously, with the increase of the overall screen penetration rate and the mass production of the fingerprint identification programs of major fingerprint chip manufacturers, we will see that the Android camp has become the mainstream with full screen and fingerprint under 2018, but the initial cost of mass production is difficult to solve. Avoiding, still needs time on a large-scale application on mobile phones.
Finally, for the issue of under-screen fingerprinting and 3D face recognition who will become the mainstream of mobile biometric recognition, the two interviewed experts stated that the future is an era of multiple biometrics recognition. Lin Ruijian said: 'In order to increase the stability of funding security and payment verification Sexuality and safety, but also in order to increase the biometric security while taking into account user experience comfort, the future will be the era of multi-modal biometrics. With our understanding of the competitiveness and maturity of aTOM onFlux ID, the future will be iPhone New models or high-end models in the Android camp may push forward the direction of dual-mode biometric recognition for fingerprint recognition under the screen and 3D face recognition. From the perspective of the experience and habits of human-computer interaction user experience, the fingerprint recognition application under the screen is comprehensive. Screen phones will play a more critical role than 3D face recognition. 'Godfrey Cheng also stated that Clear ID is easy to use, has excellent security, and unlocking speed is more than twice that of 3D face unlocking. In the future, multiple biometric integration The engine will further enhance security. Huaqiang Electronic Network