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五方光电(002962)新股询价报告

Wufang Optoelectronics (002962) IPO inquiry report

華鑫證券 ·  Aug 27, 2019 00:00  · Researches

The company's main business is the R & D, production and sales of precision optoelectronic thin film components. Precision optoelectronic thin film components include infrared cutoff filter (IRCF), biometric filter and so on. During the reporting period, the company's main products are infrared cut-off filters. In the second half of 2018, the company achieved small batch production and sales of biometric filters.

(1) the coating technology of the company is advanced, the process is mature, the precision of coating equipment is high, and the product quality is stable. The company has a perfect R & D system. In the process of product development and production equipment optimization, the company grasps the market trends and the specific needs of customers in time through the linkage development mechanism formed with suppliers and customers. meet customer individual needs and improve production efficiency and optimize product quality. The company has the advantage of rapid response, after years of accumulation, the company has formed a production process in line with the industry and its own characteristics, as well as internal and external coordination mechanism, which can design synchronously with customers and respond quickly to market demand.

(2) the company's main products, infrared cutoff filters, as the core components of the camera module, are finally applied to smart phones, and the end customers of the company's products include Huawei, OPPO, VIVO and XIAOMI, etc., the above mobile phone manufacturers are highly recognized by the majority of users in product hardware configuration, product category, function design and product experience. In 2018, the above four mobile phone manufacturers accounted for 78.40% of the domestic market share, surpassing foreign manufacturers such as Apple Inc and Samsung. The company seizes the opportunity of increasing the global market share of domestic smartphones and is committed to growing together with downstream end customers.

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