On September 11, 2021, China Aviation Optoelectronics (002179) issued an announcement stating that BOCOM Schroder, Everbright Securities, Societe Generale Securities, Guangfa Fund, Anxin Securities, Cathay Pacific Fund, Huarong Securities, Ping An Fund, Oriental Securities, Tianhong Fund, and Bank of China Fund investigated our company on September 7, 2021. The survey was conducted by General Manager Li Sen, Deputy General Manager Wang Yuefeng, Director of the Planning and Finance Department, Director of Shareholder and Securities Affairs Office, Securities Affairs Representative Zhao Dan, and Securities Affairs Manager Liu Binghan.
The main contents of this survey are:Investor question session
1. What is the company's current industrial construction project positioning? The company's South China base project is mainly aimed at the production and sale of communication connectors, new energy vehicle connectors and related products. It focuses on increasing the R&D and production capacity of its main business products, strengthening business management and control, and achieving cohesion development. The company's basic device industrial park is positioned for the construction of automated and intelligent production lines and related supporting equipment such as special optical fiber connectors and components, aviation integrated electronic interconnection systems, fluid connectors, components and systems.
2. What is the company's current order situation? Currently, the company is full of orders in hand. Among them, the defense sector is growing steadily, and the growth trend is converging with the industry. The NEV sector continues to focus on “international first-class, domestic mainstream”, seizing industry development opportunities, consolidating and expanding the market, and continuing to expand the scale of international business. The growth rate was relatively fast in the first half of the year. The communications sector continued to promote product structure and customer structure adjustments, broaden application fields, seize development opportunities, and the overall stability of the first half of the year was stable.
3. Predict the company's annual gross margin level? With the continuous adjustment of the product structure in the NEV and communications fields in the past two years, the company's profitability has gradually increased. At the same time, the defense sector is relatively stable. It is predicted that the company's overall gross margin level will be relatively stable in the future
4. What is the customer development situation in the field of new energy vehicles? The NEV sector focuses on the development goal of “domestic mainstream and international first-class”, and the expansion of mainstream domestic car manufacturer customers is relatively stable. The next step is mainly to develop markets for new international models and new customers.
5. What are the company's future plans? The company insists on connectivity as its core product and business. As the company's scale and market influence expand, it will also continue to expand the industrial chain; at the same time, adhering to the concept of collaborative development between defense and civilian goods, the defense aspect continues to expand and strengthen, and the civilian goods side is further improved. In terms of improving civilian products, the company focuses on benchmarking against top international enterprises in areas of advantage, and is on par with world-class enterprises in terms of economies of scale and sustainable development capabilities. At the same time, it continues to expand and expand globally in high-end fields.
6. What is the impact of price reduction in mass defense procurement on the company? Price reduction for mass purchases is a reasonable market behavior, and at the same time, customer demand for the quality, quantity, and structure of products will also change to a certain extent. The premise of mass procurement is to ensure quality, delivery, and schedule. This places higher demands on production efficiency, plan management, level of automation, intelligent construction, etc. of manufacturing enterprises, and is also a driving force.
7. How does the company cultivate and motivate talents? The company pays attention to the evaluation and motivation of talents, and puts forward the concept of focusing on building a team of value-creating talents. At the same time, the company will also continue to optimize the incentive restraint and talent evaluation system, promote the continued implementation of medium- to long-term incentives, and work to establish a value-contributed remuneration distribution system. This is the foundation for the company's development.
AVIC Optoelectronics's main business: general projects: electronic component manufacturing; mechanical and electrical equipment manufacturing; refrigeration and air conditioning equipment manufacturing; automotive parts and accessories manufacturing; engineering and technology research and experimental development; special equipment repair (except for projects subject to approval by law, independent business activities are carried out with a business license in accordance with law)”.
AVIC Optoelectronics's 2021 interim report showed that the company's main revenue was 6.663 billion yuan, up 38.53% year on year; Guimu's net profit was 1,114 million yuan, up 68.01% year on year; after deducting non-net profit of 1,092 million yuan, up 70.5% year on year; debt ratio was 47.25%, investment income was 56.9473 million yuan, financial expenses were 22.845,800 yuan, and gross profit margin was 38.81%.