In the past six months, the share price of stock king Daliguang dropped from 6,000 yuan to 4,130 yuan all the way down, and this phenomenon of "going up and down" also appeared in Kangkong, which is famous for its acoustic and optical components.
Looking at the time cut-off point, in August, Largan’s share price soared to 6,000 yuan, in September, Largan’s share price fell to 5,115 yuan, and at the end of October, Largan’s share price soared again to 5,985 yuan Mark, since October, the stock price of Largan has plummeted.
Apple concept stocks collectively "go up and down"
As the market has high hopes for large-sized iPhones, it is expected to set off a new wave of replacements. Against this background, Apple concept stocks Largan also became beneficiaries. , Largan’s share price once soared, but the good times didn’t last long. On the day when Apple’s new phone was released in September, Apple’s stock price fell rapidly. As Apple’s main lens supplier, Largan has naturally become a part of the trouble. When
checked the stock price of Largan, he also found that its stock price fell rapidly in September, that is, the stock price fell to 5115 yuan on the 25th of the month. Shortly thereafter, with the release of the iPhone X, Largan’s stock price fell again. Returning to the 5985 yuan mark, since then, Largan's stock price has appeared in "large green".
Most of these reasons are closely related to Apple’s orders. Recently, news broke out that the reason for Largan’s recent sharp drop in stock prices is closely related to new materials for mobile phone lenses and new competitors in Apple’s supply chain.
Apple’s supply chain has the largest share of acoustic components in the market. A senior executive of AAC listed in Hong Kong revealed that due to the continuous demand for thinner mobile phone lenses, AAC’s mobile phone lenses have successfully entered Apple’s supply chain, and shipments will increase significantly next year; The other is Kangkong-KY (4943), which develops the application of silica gel in acoustic components. It has successfully used silica gel to inject lenses, and is currently sending it to a major semiconductor manufacturer for certification. According to the legal person analysis of
, the stock price of Largan has corrected by more than 30% in less than one and a half months, which may be related to the development of lens materials in the future. At present, no one can match Largan’s development of lenses on plastic materials, and Largan Light accounts for almost all patents, but the current market has indeed gradually shifted to the development of lenses made of other materials, including plastic plus glass, which is called Hybrid lens in the industry, or silicone optics.
In the past, people used to call Largan’s competitors Japan’s Kangdazhi or China’s Sunny Optical. These two opponents are still from the optical field, but the terrible enemy is cross-field, such as AAC, which has been in Apple’s supply chain for a long time. It is an electro-acoustic component, and Luxshare is also preparing to step into it; Koncon is a manufacturer that started with mold development and design, and has the core technology of insert molding. Its products can be applied in acoustics, automobiles, and even future optics.
What is curious is that when I checked the stock price of Kangkong, I found that in recent months, the stock price of Kangkong and Largan are quite similar. At similar time points, their stock prices have both declined.
There is one thing that can be explained, Kangkong has indeed entered the Apple supply chain. When checking relevant information, I learned that from traditional modules, plastic injection and metal stamping, it has entered the field of electro-acoustics. Kangkong indirectly entered Apple's electro-acoustic component supply chain through major customers Merry and Goertek.
In 2017, Kangkong and Merry’s strategic alliance has gradually shown benefits, especially in the iPhone 8, which has raised the waterproof specification, making Kangkong’s prospects promising. The chief financial officer of Kangkong once said that in order to meet the needs of customers, the company will invest 600 million yuan in capital expenditure this year, and it will explode vigorously in the second half of this year.
On December 19th, the author found out that Kangkong has successfully entered the field of optics and reported three good news when checking relevant information. First, major Japanese manufacturers have placed more than 1 billion yuan in automation equipment-related products to Kangkong; second, Kangkong has succeeded and sent it to the semiconductor factory for confirmation; Injection process plan. The emergence of the above phenomena is a strong evidence for Kangkong to enter the field of optics.
Taiwan factory launched a defense war
Largan is not only facing competitors such as Sunny Optical, Kang Dazhi, Yujing Optoelectronics, and other competitors to carve up market share, another big threat is the rise of hybrid lenses with glass and plastic lenses, and silicone injection lenses . According to news from
, the trend of dual-camera mobile phones has not yet been fully popularized at this stage. It is generally predicted that the specifications of mobile phones in 2018 will still be made of plastic mirrors.The main focus is on the head, and it will be the turn of the hybrid lens after the dual lens is popularized. Therefore, in the coming year, Apple's mobile phones should still be dominated by plastic, single or dual cameras, and the penetration rate of dual cameras should be increased to be more in line with the reality of mobile phone marketing.
In other words, as long as Apple mobile phones are still dominated by plastic, single or dual lenses, and the penetration rate of dual lenses continues to expand, Largan’s advantages still exist.
Recently, there have been constant noises in the smartphone market, but it has not affected Largan’s expansion of production. In mid-to-late December, it was reported that after the completion of Largan’s new factory in September, it will continue to build production lines. On the 18th, Largan announced that it will invest 667 million yuan to acquire machinery and equipment. Largan said that the new factory is currently on schedule The production capacity is built, and the yield rate is still working hard to improve.
But the market knows that hybrid lenses are indeed the future trend. An industry insider said that the current penetration rate of hybrid lenses is in its infancy, and the shipment volume in 2018 is not high. It is still uncertain whether it will be mass-produced in 2019. day.
Up to now, major optical factories are speeding up the deployment of hybrid lenses. However, compared with competitors such as Largan and Sunny Optical Asia Optical, they have already mastered the aspheric glass lens manufacturing technology. A senior executive in the optical lens industry said frankly that Largan's product has not yet entered the mass production stage.
For Largan, it is not its style to sit still and wait for death, and it will definitely have relevant actions in the future. Recently, Wang Daliguang, a stockholder, approached Kangkong to discuss the development of silicone injection process plan. This is a typical example. Some people say that the hero of the times, how will the camera market present the market structure in the future? Who can show their style in the lens market? We will wait and see.
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