On Wednesday, Alto Electronics (002587) opened 2.18% lower in early trading. After the opening, the stock price reached a low of 7.82 yuan/share, and then fluctuated and turned red; in the afternoon, the stock once hit the daily limit. As of the close, the stock rose 5.22% to close at 8.67 yuan per share, with a turnover of 1.61 billion yuan and 36.08% change hands. A reporter from "Popular Securities News" noticed that Alto Electronics' share price has recently closed for seven consecutive positives, with a cumulative increase of 26.94% since this month.
At present, Alto Electronics has formed a "hardware + software + content" business model. Its customer dimensions cover film and television, finance and communications, advertising, etc. The company's products are used in more than 70% of the world's large international airports and more than 70,000 bank branches. There are more than 2,900 communication operator outlets and more than 40 medium and large XR virtual studios. In addition to continuously consolidating its business advantages in traditional fields, its subsidiary Chuangxiang Digital has developed virtual digital people and aigc digital scene technology to enrich the digital asset platform.
Affected by factors such as the slow recovery of domestic market demand and the postponement of some orders, the company's performance declined in the first three quarters of this year. However, the company's overseas markets maintained growth. In the first three quarters, the overseas market achieved revenue of 231 million yuan, a year-on-year increase of 12.99%. The company's overall gross profit margin in the first three quarters was 40.34%, an increase of 6.69 percentage points compared with the same period last year. As of October 26, 2023, the company's orders on hand and winning bids totaled approximately 549 million yuan. From a segment perspective, orders are mainly concentrated in high-margin industries. In the field of film and television, the company signed new contracts of 167 million yuan in the first three quarters, a year-on-year increase of 73.75%. Among them, new contracts signed in the third quarter were 119 million yuan, a year-on-year increase of 299.50%. In the field of finance and communications, the company signed new contracts in the first three quarters. 255 million yuan, a year-on-year increase of 5.46%, of which new contracts signed in the third quarter were approximately 100 million yuan, a year-on-year increase of 10.75%.
reporters noticed that Alto Electronics has undertaken a total of 60 medium and large-scale xr/vp virtual studio projects around the world, including well-known virtual shooting projects in industries such as NVIDIA, Amazon Cloud, and Toei Japan; the company participated in the "Cinema" project led by China Film "Technical Requirements and Measurement Methods for LED Display Screen Projection System" was compiled, and in-depth cooperation with China Films to jointly develop a nationally produced, high-tech format LED movie screen, which passed the DCI certification test in August this year. In October this year, the company signed the "China Film CinityLED Cinema Screen Batch Order Agreement" with China Film Barco (Beijing) Electronics Co., Ltd. The company will officially open up a new blue ocean market for LED cinema screens and work with China Film to provide LED cinema screen screenings to major theaters. system. Zhao Lin, an analyst at West China Securities, believes that the new LED cinema screen business will bring important increments to the company's future performance growth. It is expected that the company's net profits from 2023 to 2025 will be 50 million yuan, 100 million yuan, and 130 million yuan respectively, maintaining " "Overweight" investment rating.
On December 25, Alto Electronics received a survey from 13 institutions. Some institutions asked the company, how big is the market space for cinema screens? The company stated that according to third-party data, the number of global cinema screens will exceed 210,000 in 2022. Among them, the number of screens in China will exceed 80,000, ranking first in the world in terms of the size of giant screens. At present, it seems that the number of LED movie screens in the world is very small, and most of them are occupied by international giants such as Samsung, Sony, and LG. With the gradual entry of domestic companies and the continuous maturity of technology, LED cinemas have the opportunity to become a high-growth space in the future. market segments. The company's LED cinema screens have been implemented in theaters such as Beijing and Jinan, and are gradually being implemented in other cities.
reporter Tang Xiaofei
