Directly hit the shareholders' meeting ｜ Special information operation level: This year's profitability of optical fiber cables is expected to improve

Today (June 23), special information (SZ000070, a stock price of 6.14 yuan, and a market value of 5.2 billion yuan) held a 2021 shareholders meeting in Nanshan District, Shenzhen. The chairman Gao Tianliang and the director of the company and other companies attended the meeting. The company's director, general manager Wu Liwen, some directors and senior high control lines attended the meeting.

The annual report of Special Information 2021 shows that the company achieved operating income of 4.591 billion yuan during the reporting period, a decrease of 2.79%year-on-year; the net profit attributable to the mother was -618 million yuan, a year-on-year decrease of 5503.48%.

Regarding the decline in net profit in 2021, Gao Tianliang explained at the meeting that it was mainly due to the large asset impairment caused by the disposal of a wholly -owned subsidiary's special issuer. The impact of the decline in the settlement price of the collection of the collection of collection has caused a large loss.

In recent years, with the rapid development of the information and communication industry, the demand for the fiber optic cable industry market has been released, but the excess capacity of the industry has not changed, and market competition is very fierce. Wu Liwen told the reporter of "Daily Economic News", "The biggest difficulty faced by our fiber cable industry is that fiber prices are not high, but raw materials, such as petroleum petrochemicals, metals, etc. are affected by the rise in commodity prices, leading to rising costs. But overall, the profitability of our cable industry this year is expected to improve. "

Picture source: Photo by reporter Wang Jing every time

Fair competition in the optical fiber optical cable industry

Public information shows that special information was established in 1988. The company's main business revolves around the development of the communications industry. It has formed four major business segments: cable manufacturing, photoelectric manufacturing, science and technology integration and smart services.

Among them, the products of the cable manufacturing sector mainly include: a new generation of information technology basic materials such as fiber, optical cable, optical connector, and aluminum bag steel wire. Products are used in China Mobile, China Unicom, China Telecom and other telecommunications operators, as well as special networks such as electricity, petroleum, mining, highway, railway, national defense and other industries. In 2021, the gross profit margin of the special information optical fiber optic cable product was -3.53%, and the gross profit margin of the same period last year was 22.15%.

Regarding the reasons for the sharp decline in gross profit margin, the special information previously explained in the inquiry letter of the Shenzhen Stock Exchange's 2021 annual report that the order of fiber fiber optic cable settlement in 2021 mainly came from the bidding of the operator's framework at the end of 2020. The price of the winning bid for the main customer of China Mobile's average karpulum cable decreased by 34%compared with the 2019 framework contract, and the impact of the increase in raw material prices within the year, and the gross profit of fiber optic cables declined significantly compared with the same period. At the end of 2021, the price of the operator's winning framework contract core -km -optical cable price increased by 51%from 2020. The order mainly entered the settlement in 2022. It is expected that the loss will be improved.

So, what is the supply and demand of the fiber optic cable industry this year? How to deal with the price pressure of fiber cable products? In this regard, Wu Liwen replied to reporters that the bidding (price) moved at the end of last year has improved a lot, but compared with the previous (price), it is not too high. From the perspective of price, the company's optical fiber optical cable industry this year The profitability will be better than 2021. In addition, under the epidemic, Europe, the Americas, etc. are building a large number of fiber -to -houses, so the demand for overseas markets will increase.

Regarding the business plan of the cable manufacturing sector this year, special information stated in the 2021 financial report that on the one hand, stabilize the market share of operators, coordinate order management strategies, and improve industrial operating efficiency; The business scale of the market is divided into the market; exert the advantages of Vietnamese factories and expand overseas high -value customer business. On the other hand, the company has completed the production and relocation of the company's Liaobu Fiber Flame Plant and the relocation of the Special Failor Walshin Factory; strengthen the production capacity linkage mechanism of the company's production bases.

It will continue to make mergers and acquisitions in the industrial chain

At the beginning of the main board of the Shenzhen Stock Exchange, the main business was mainly manufactured and sold for fiber and optical cables. In recent years, the company has made multiple acquisitions to continue to expand its business scope.

Among them, Shenzhen Special -Fa Dongzhi Technology Co., Ltd. (hereinafter referred to as special hair Dongzhi) is mainly engaged in broadband communication terminal manufacturing business, 90%of the revenue comes from the sales business of the fiber network terminal and the set -top box; Fourier) mainly engaged in military mobile communication terminal business and satellite communication. In addition to providing Tiantong No. 1 satellite mobile communication terminal, the company also launched a multi -channel satellite communication signal demoderator; Beijing Shenzhou Feihang Technology Co., Ltd. (hereinafter referred to as Shenzhou (hereinafter referred to as Shenzhou Feihang) has rich experience in X86 Computer and System Platform, domestic computer, avionics communication interface, data collection and records, and embedded systems; It is a light module manufacturer that integrates R & D, production, sales and services.

However, in the above four companies in 2019, only Shenzhou Feihang completed the performance commitment at a completion rate of 106.67%. The performance completion rates of the remaining Fourier, Table Dongzhi, and Sichuan Huatuo were 37.07%, 35%, and 75.59%, respectively. In January of this year, Fourier's performance committee has fulfilled its cash compensation obligations.

At that time, the main reason for the unfinished performance commitment given by special information was: Fourier was affected by the lagging time of the relevant parties; the specialty Dongzhi was affected by the reduction of the purchase volume of major customers; Sichuan Hua Tuo has not yet reflected the synergy effect of special information and its synergy, and the construction of 4G has slowed down. 5G construction has not been fully rolled out, which has led to a downturn in the overall market of the optical communication industry and low demand for optical modules. In 2020, due to the influence of the new crown epidemic and the intensified international trade friction, the performance of special information was greatly affected, but the performance of the aforementioned four companies acquired by the company has greatly improved. The performance commitments of the four companies of Fourier, East Chi, Sichuan Huatuo and Shenzhou Feihang were 140.89%, -616.18%, 121.63%, and 112.18%, respectively. Among them, special hair Dongzhi is the only company that failed to complete the performance commitment.

In 2021, the impairment of large assets caused by the poor operation of East Zhiyuan's shareholders further dragged down the overall profit of special information.

In order to improve the loss of special Dongzhi, special information stated that in 2021, the company made a comprehensive optimization of Dongzhi's management, and sent a special information management team to continue to upgrade sales, production, procurement, and business. And formulate innovative transformation and development plans. In the future, in addition to continuing to focus on the main business broadband communication terminal product business, we will closely grasp the opportunity of "new infrastructure", expand business such as smart cities intelligent systems, and gradually realize operations to turn losses.

At the meeting, Gao Tianliang revealed that in 2021, the special Dongzhi signing orders increased by 137%over the same period last year, and the output increased by 90%over the same period last year. The operation has achieved a significant loss. Talking about whether the improvement of East Zhi Dongzhi will be reflected in the financial report in mid -2022, Gao Tianliang told reporters: "It will definitely be reflected."

Regarding the planning of special information in the future investment mergers and acquisitions, Wu Liwen said: "As long as the target is appropriate, we will continue to make some mergers and acquisitions in the industrial chain. In addition to the special east wisdom in recent years The effect is good."

He further emphasized: "M & A and small equity investment are different. Whether it is from the selection of the target or the management of future investment, it requires far more than financial investors. On the whole, the success rate of the company's mergers and acquisitions is quite quite quite quite quite quite quite quite quite like High. Follow -up, we will make up for the industrial chain, and we will not rule out some choices on our existing industrial chain. "

Daily Economic News

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