The market value skyrocketed by 12.8 billion in half a day! What happened to the chip faucet?
Text | Jin Wei
On October 30, Zhuo Sheng micro opened high, only 20 minutes in the morning to close the limit, as of noon closing, Zhuo Sheng micro trading volume reached 2 billion, the stock price was reported at 143.6 yuan, the total market value was 76.79 billion.
In half a trading day, the market value of Zhuosheng Micro increased by 12.8 billion. This is the first time in recent years that Zhuosheng Micro has a 20cm daily limit, and 49,000 shares have earned 260,000 yuan.
However, judging from the performance of Zhuo Sheng Wei, the net profit attributable to the parent company in the first three quarters has declined, what happened?
Zhuosheng Micro, whose main business is the research, development and sales of RF integrated circuits, is a leading RF chip in China. The company's products are mainly used in smart phones, smart wearables, communication base stations, automotive electronics, Bluetooth headsets, VR/AR equipment and Netcom networking equipment and other fields that require wireless connection, and its customers cover major Android mobile phone manufacturers around the world.
On June 18, 2019, Zhuosheng Micro was listed on the Growth Enterprise Market of the Shenzhen Stock Exchange, with an opening price of 42.35 yuan per share on the first day. After listing, it climbed all the way and became the most expensive technology stock in A-shares, with a share price of 790 yuan (no reinstatement) second only to Kweichow Moutai, with a maximum market value of 180 billion.
However, after 2022, Zhuoshengwei's share price began to fall deeply, once almost falling below the 100 yuan mark, and the lowest touched 78 yuan (before the resumption).
From the perspective of performance, Zhuosheng Micro began to decline sharply after its performance peaked in 2021. In 2020, 2021, and 2022, Zhuosheng Micro's revenue will be 2.79 billion, 4.63 billion, and 3.68 billion respectively, and the net profit in the same period will be 1.073 billion, 2.135 billion, and 1.069 billion respectively.
Especially in 2022, Zhuoshengwei's net profit will be cut in half. In this regard, Zhuo Sheng Micro said that due to the impact of many factors, the market demand of the mobile phone industry is sluggish, resulting in a decline in the company's operating performance.
Zhuosheng Micro mainly provides RF front-end chip products such as RF switches and RF low noise amplifiers to the market, which are mainly used in mobile smart terminals such as smart phones, and the company has covered most of the mainstream Android mobile phone manufacturers such as Samsung, Huawei, Xiaomi, and vivo.
Zhuosheng Micro is greatly affected by the electronics consumer industry, and when the downstream demand is weak, the semiconductor products for consumer electronics are adjusted.
Since the second quarter of 2019, the quarterly net profit growth rate of Zhuosheng Micro has remained above 100% for ten consecutive quarters. However, from 2021 onwards, affected by the slowdown in the market penetration of 5G mobile phones and the global economic downturn, Zhuosheng Micro, as a chip manufacturer whose business directly bets on consumer electronics, will bear the brunt.
Since the double decline in revenue and net profit in 2022, in the first half of this year, Zhuosheng Micro's revenue and net profit still declined, of which the net profit in the first half of the year was only 367 million, a year-on-year decrease of 51%. The stock price once fell below $100 and hit a low of $86.
On the evening of October 28, Zhuosheng Micro released a third-quarter performance announcement, saying that the revenue in the first three quarters of 2023 will be about 3.074 billion yuan, an increase of 1.9% year-on-year; net profit attributable to shareholders of listed companies was about 819 million yuan, a year-on-year decrease of 16.85%.
Although the company's performance in the first three quarters was average, from the perspective of a single quarter, Zhuosheng Micro achieved operating income of 1.409 billion yuan in the third quarter, an increase of 80.22% year-on-year and 47.71% month-on-month; The net profit attributable to the parent company was 452 million yuan, an increase of 94.29% year-on-year and 80.92% month-on-month.
The revenue of 1.408 billion is the highest single-quarter revenue in the history of Zhuosheng Micro, and in addition, the company's profit has increased significantly.
However, in September this year, with the release of Huawei's Mate60 series, a new wave of growth in domestic mobile phones was brought about, and China's smartphone shipments reached 66.7 million units in the first three quarters of this year, down 5% year-on-year and up 3.73% month-on-month.
At present, Huawei, Xiaomi, Honor, vivo and other mobile phone manufacturers have released some new machines, and other major mobile phone manufacturers have released new machines one after another, which indicates the arrival of the traditional peak season of consumer electronics, which is expected to accelerate the recovery of the RF industry.
In terms of the top ten circulating shareholders, as of the third quarter of this year, Nuoan Fund reduced its holdings by 6.62 million shares, and ChinaAMC Guozheng Semiconductor Fund increased its position by 1.759 million shares.
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