Company profile
(002052.CH/ RMB8.95, unrated) mainly engaged in domestic set-top box business, "DVB+OTT" business (intelligent set-top box terminal to realize the convergence of Broadcasting Grid and Internet), mobile terminal business (effectively bundling and interacting with TV fixed terminal); as well as international set-top box business and international mobile terminal business. Among them, cable TV access equipment accounted for 56.42%; satellite TV user terminal equipment accounted for 23.13%; and other equipment accounted for 16.65%. The company was listed on the Shenzhen Stock Exchange on June 27, 2006, with a total of 683 million shares.
In 2013, the company realized operating income of 1.956 billion yuan, down 7.14% from the same period last year; net profit belonging to the parent company was 34 million yuan, down 74.6% from the same period last year; basic earnings per share was 0.05yuan, down 75% from the same period last year; and gross profit margin was 26.1%, down 1.5% from the same period last year. The rate of sales expenses was 9.3%, an increase of 2.1% over the same period last year; the rate of management expenses was 12.6%, an increase of 2.4% over the same period last year; and the rate of financial expenses was 2.74%, down 0.74% from the same period last year. The net interest rate was 1.75%, a sharp drop of 4.8 percentage points.
In the first quarter of 2014, the operating income was 317 million yuan, down 21.84% from the same period last year; the loss was 44 million yuan, down 1194% from the same period last year; and basic earnings per share was-0.06 yuan. The gross profit margin was 26.44%, an increase of 1.87 percentage points over the same period last year. The rate of sales expenses was 11.67%, an increase of 0.29% over the same period last year; the rate of management expenses was 21.59%, an increase of 9.95% over the same period last year; and the rate of financial expenses was 7.23%, an increase of 3.31% over the same period last year. 2013-year of OTT outbreak
In 2013, the market set off an upsurge of OTT industry chain, enterprises (including content, Internet, hardware manufacturers) have cut into the field of hardware. At the same time, a large number of domestic enterprises have entered Asia, Africa and Latin America to open up emerging markets. Different types of enterprises hope to occupy the leading position in the OTT market by virtue of their respective advantages. For example, video content companies such as Leeco hope to attract users by virtue of their advantages in content; Internet companies such as Tencent and Baidu, Inc. hope to cut into content and hardware by relying on the advantages of user scale and traffic ports; traditional hardware equipment manufacturers such as Hisense hope to seize access by aggregating content. However, due to the fierce market competition, strict supervision and vague customer demand, a more mature business model has not yet been formed with little effect.
The cost is higher in the period of transformation.
Under the existing situation, the strategy of Tongzhou is to closely follow the live broadcast of radio and television. Connect to the Internet and promote the transformation of the terminal. So that users can achieve the free conversion of DVB+OTT, and finally form the Internet TV with TV as the core. The company will begin to upgrade online users in September and will form a profit model such as backward charging, advertising and portal benefits in the future after priority upgrading of existing users. Now 8-12 yuan / month. Value-added package, profit contribution is limited.
The company is in a period of transformation, and the cost of upgrading is high. It is expected that by the fourth quarter, as part of the transformation is completed, users gradually contribute revenue, the company's performance will improve. The cost of retrofitting a box is about 60-70 yuan, and the basic package income is 100 yuan per year. The key point is whether the transformation can be completed quickly and the scale of users can be enhanced. . It is initially estimated that 3 million users will be reached by the end of this year in Shenzhen, Guizhou, Chongqing, Changsha, Wuhan, Harbin and other places. The payment rate is usually 20%.