In 2023, the economic situation at home and abroad will be more complex and changeable, the overall consumption will be weak, and the demand for traditional applications such as smartphones, security, and projection will decline. The cross-integration and development of optics and other technologies and fields are accelerating, and the upgrading of downstream products is also accelerating. How to improve R&D and manufacturing capabilities at the same time, integrate the market and technology, lay out downstream application fields according to their own strength, achieve differentiated competition, and continuously improve the performance of enterprises and the competitiveness of subdivisions is the test that many optical component companies are currently facing.
As mentioned above, due to the impact of the environment, the demand for the main application fields of optical components will decline in 2023, digital cameras will bottom out, and automotive optics will stand out.
Smartphones
According to IDC data, global smartphone shipments in 2023 will be 1.17 billion units, a decline narrowed to 3% from 2022. Foldable smartphones are gradually becoming an attraction for consumers to purchase high-end smartphones, and the smartphone market is expected to come out of the trough in 2024 and begin to show a recovery trend due to the explosion of generative artificial intelligence (AIGC).
In-vehicle optics
According to the statistics of the China Association of Automobile Manufacturers, the total production and sales of automobiles in mainland China will reach 30.16 million units and 30.09 million units in 2023, an increase of 11.6% and 12% year-on-year, respectively, and the production and sales volume will reach a record high. Among them, under the dual role of policy and market, the sales and penetration rate of electric vehicles have increased rapidly. In 2023, the production and sales of electric vehicles in mainland China will reach 9.587 million units and 9.495 million units, respectively, an increase of 35.8% and 37.9% year-on-year, with a market share of 31.6% and a penetration rate of 30.4%.
According to market statistics, in 2023, 440,300 new cars will be delivered to passenger cars (excluding imports and exports) with standard lidar in the Chinese market, totaling 570,900, a year-on-year increase of 341%, and 15 auto brands have been equipped with lidar as standard, and the industry will usher in a blue ocean market.
VR/AR
According to IDC data, global VR/AR device shipments in 2023 will decrease by 23.5% year-on-year to 6.75 million units, of which AR shipments will be 480,000 units, a year-on-year increase of 71%, and the development momentum is strong. AI, as one of the important supporting technologies of the metaverse, will make breakthroughs in 2023, and the explosion of generative artificial intelligence AIGC will boost the development of the metaverse.
At the policy level, on September 8, 2023, led by the Ministry of Industry and Information Technology and jointly issued by the five ministries and commissions, the "Three-Year Action Plan for the Innovation and Development of the Metaverse Industry (2023-2025)" was officially issued, proposing to promote the development of the Metaverse industry through measures such as building advanced Metaverse technology and industrial systems, and planning to make breakthroughs in Metaverse technology, industry, application, and governance by 2025, and become an important growth pole of the digital economy.
Security surveillance
In 2023, the overall industry demand of the security monitoring market will decline, and the competition will continue to intensify. In terms of technology, security surveillance lenses have a similar development trend with mobile phone cameras, civil security monitoring is also developing to multi-camera, some manufacturers have launched gun ball dual cameras, three cameras, four cameras and even seven cameras monitoring equipment, the product form from a fixed angle of view to a rotatable angle of view, product pixel specifications are also upgraded from 1MP/2MP to 3/4/5/8MP.
Upstream and downstream manufacturers have also carried out more exploration and innovation in night vision, and vigorously promoted the concept of black light. While upgrading the light sensitivity of the lens and sensor, the computing power provided by the chip itself is used to restore the scene image through AI algorithms to achieve full-color images in low light at night. Superimposed on the development trend of home + interaction, AI + video surveillance integration, consumer security monitoring products continue to attract attention, and the market share continues to grow.
projection
According to statistics from market institutions, China's projector shipments in 2023 will be about 4.8 million units, a year-on-year decrease of 6%. Sales were approximately RMB15 billion, down 26% year-on-year. Among them, the smart projector market (projectors equipped with OS operating system) shipped about 4.2 million units, a year-on-year decrease of 2%. The top 5 manufacturers in shipment are XGIMI,Nuts,Epson,Fengmi and Dangbei,The total market share is more than 40%,XGIMI continues to maintain the leader in shipments and sales。
From the perspective of projection light source, the shipment of domestic laser projection products in 2023 will increase by 19% year-on-year compared with 2022, and although LED light source products still occupy a dominant position in the market, shipments will decline compared with 2022, a year-on-year decrease of about 4%. Shipments of projectors using UHP light sources (generally referring to traditional light sources) fell by about 30%.
In terms of use cases, household products are still the main driver of the projection market, with shipments of projection equipment in the commercial and educational sectors falling by about 22%.
Digital cameras
According to data from the International Camera and Image Equipment Industry Association (CIPA) in Japan, the global sales of Japanese digital cameras in 2023 will be 714.3 billion yen (about 34.7 billion yuan), a year-on-year increase of 5%, and it has achieved growth for three consecutive years. The sales of mirrorless cameras, which drove the market, increased by 11% year-on-year to 580.4 billion yen (about 28.2 billion yuan), accounting for more than 80%. Sales of interchangeable lenses increased by 4% year-on-year to 637 billion yen (about 31 billion yuan), and sales of cameras with integrated lenses increased by 9% year-on-year to 77.2 billion yen (about 3.8 billion yuan).
The Chinese market saw the largest increase of 25% year-on-year to 179.9 billion yen (about 8.7 billion yuan). The Japanese market increased by 4% year-on-year to 62.6 billion yen (about 3.1 billion yuan), the European market decreased by 7% year-on-year to 158.5 billion yen (about 7.7 billion yuan), and the American market decreased by 1% year-on-year to 173.4 billion yen (about 8.4 billion yuan). Mirrorless cameras equipped with technologies such as artificial intelligence (AI) are popular in the market.
It can be seen from the data that the digital camera market has bottomed out and achieved contrarian growth, and the total sales data of the entire camera market in 2023 has far exceeded the camera market in 2019. In terms of camera lenses, Sigma's market share increased significantly to No. 1, while Sony, which was No. 1, dropped to No. 3. Canon, which is in second place, was replaced by Tamron.
The Optical Components and Instruments Branch of the China Optical Association has collected and sorted out the performance of the first batch of listed optical companies that announced their 2023 annual reports, let's take a look.
1
Sunny Optics
Sunny Optical's revenue in 2023 will be 31.681 billion yuan, a year-on-year decrease of about 4.6%, gross profit will be about 4.59 billion yuan, a year-on-year decrease of about 30.5%, a gross profit margin of 14.5%, a decrease of about 5.4 percentage points from last year, and a net profit of about 1.099 billion yuan, a year-on-year decrease of about 54.3%.
2
Q Technology
Q Technology will achieve operating income of 12.5 billion yuan in 2023, a year-on-year decrease of 8.9%, and the decrease in operating income is mainly due to macro factors, the number of global smartphone sales decreased compared with the previous year, resulting in a decline in the demand for camera modules and fingerprint recognition modules applied to smartphones, in 2023, Q Technology's camera module achieved revenue of 11.6 billion yuan, a decrease of 8%, and the sales volume of camera modules decreased by about 11.9% year-on-year The sales volume of camera modules and fingerprint recognition modules used in mobile phones decreased by approximately 12.3% and 1.1% year-on-year, respectively, and the gross profit for the year was approximately RMB509 million, a decrease of approximately 6.0% from the previous year, and the gross profit margin for the year was approximately 4.1%.
3
Gao Wei Electronics
Gao Wei Electronics' operating income decreased from US$1,116.2 million in 2022 to US$923.8 million (about 6.67 billion yuan) in 2023, a decrease of 17%. Net profit decreased from US$83.8 million in 2022 to US$46.4 million in 2023. The single largest customer accounted for 93% of revenue.
4
Crystal Optoelectronics
In 2023, Crystal Optoelectronics will achieve operating income of 5.076 billion yuan, an increase of 16% over the same period last year, and net profit attributable to shareholders of listed companies will be 600 million yuan, an increase of 4.15% over the same period last year. The operating conditions of the main business segments are as follows: the revenue of optical components business was 2.446 billion yuan, accounting for 48% of the total revenue, a year-on-year increase of 21%, the revenue of thin film optical panel business was 1.849 billion yuan, accounting for 36% of the total revenue, a year-on-year increase of 18%, the revenue of semiconductor optics business was 108 million yuan, accounting for 2% of the total revenue, a year-on-year decrease of 62%, and the revenue of automotive optoelectronics and AR/VR business was 291 million yuan, accounting for 6% of the total revenue, a year-on-year increase of 54%. Crystal Optoelectronics seized the window period of the momentum of new energy vehicles, ushered in a strategic milestone node in 2023, and opened a new pattern of on-board optoelectronic business development. The company shipped more than 200,000 units of HUD throughout the year, of which AR-HUD has a leading market share in China.
5
AAC Technologies
For the full year of 2023, AAC Technologies achieved operating income of 20.42 billion yuan, a slight decrease of 1% year-on-year, of which the revenue from the precision structural parts business and the optical business increased significantly. The gross profit margin was 16.9%, down 1.4 percentage points year-on-year, and the net profit was RMB740 million, down 9.9% year-on-year, mainly due to the weak demand in the consumer electronics industry in the first half of the year and the slow upward trend.
In terms of optical business, AAC Technologies' optical business achieved revenue of RMB3.63 billion in 2023, a year-on-year increase of 12.7%, and a gross profit margin of -13.0%, flat year-on-year. In 2023, AAC Technologies will continue to optimize the product structure of plastic lenses, and the shipments of high-specification lenses of 5P and above will increase by about 48% year-on-year to more than 350 million, accounting for nearly 70%, of which 6P lens shipments will account for about 14%, an increase of 5 percentage points year-on-year. WLG glass-plastic hybrid lenses will ship more than 3 million units in 2023, a year-on-year increase of about 22%, in addition to continuous shipments in the smartphone field, it is also stable in non-smartphone fields such as automotive cameras, action cameras and drones.
6
XL International
In 2023, Truly International will achieve operating income of approximately HK$15.59 billion, a decrease of approximately 19.2% compared with 2022, mainly due to the decrease in revenue from the smartphone business and the gross profit margin of approximately 8.5%, an increase of approximately 0.8% over 2022. Net profit decreased by approximately 17.4% to HK$263 million. In terms of specific products, the sales of electronic consumer products (mobile phone camera modules, etc.) earned HK$2,206,106 thousand, or about RMB2.03 billion, and the LCD display business (including touch products) accounted for about 86% (2022: 81%). Other businesses (including sales of micro camera modules, fingerprint recognition products and printed circuit boards) accounted for approximately 14% (2022: 19%).
7
Lingyunguang
In 2023, Lingyunguang will achieve operating income of 2.64 billion yuan, down 3.95% from the same period of last year, and net profit attributable to owners of the parent company of 172 million yuan, down 8.34% from the same period of last year.
In 2023, Lingyunguang will continue to focus on the "vision + AI" business, focusing on expanding strategic tracks such as consumer electronics, new energy and cultural metaverse. In the field of new energy, we seized the opportunity to improve the penetration rate of machine vision brought about by the upgrading and transformation of lithium battery production lines, achieved good business breakthroughs, and our testing products such as electrode burrs and cell appearance were recognized by customers, and our operating income increased by more than 70% year-on-year. In the field of cultural metaverse, the company cooperated with Migu and CCTV to achieve large-scale commercial use of the self-developed motion capture system FZmotion, and the operating income of this segment increased slightly year-on-year. In addition, in the field of printing and packaging, the company's market share continued to increase, and its revenue increased by 35% year-on-year.
8
ML Optics
In 2023, MLO will achieve a total operating income of 458 million yuan, a year-on-year increase of 4.40%, and a net profit attributable to the parent company of 46.7238 million yuan, a year-on-year decrease of 20.83%. Among them, the semiconductor field accounted for 37.05% of the revenue, the life sciences accounted for 28.14%, the AR/VR detection accounted for 8.42%, the biometrics accounted for 9.30%, the aerospace accounted for 3.28%, the unmanned driving accounted for 3.34%, and the others accounted for 10.47%. The increase in revenue was mainly due to the growth of revenue in the semiconductor field, which increased by 57.69% over the same period last year, and the revenue in the autonomous driving field increased by 66.34% over the same period last year. AR/VR inspection revenue decreased compared with the same period last year due to the impact of industry fluctuations, and the company continued to focus on improving the added value of products and optimizing the customer structure, so as to increase the order volume and shipment strength of high value-added products.
9
Yudi Optics
Yudi Optics will achieve operating income of 433 million yuan in 2023, affected by the decline in market order demand, the operating income will decrease by 21.89% year-on-year, of which the revenue from aspheric lens processing will be 25.9 million yuan, down 28% year-on-year, the revenue from optical lenses will be 30.3 million yuan, down 34% year-on-year, and the revenue from lenses will be 364 million yuan, down 19% year-on-year, and the profit will be 32.42 million yuan, down 47.42% year-on-year. Mainly due to the increase in product categories and terminal application fields, the investment in R&D expenses remained at a high level, the sales expenses and management expenses increased, and the government subsidies decreased, but with the change of product structure, the company's overall gross profit margin increased slightly.
10
Tengjing Technology
In 2023, Tengjing Technology will achieve operating income of 340 million yuan, basically unchanged from the same period of last year, and net profit attributable to shareholders of listed companies of 41.6559 million yuan, down 28.72% from the same period of last year. The decline in net profit was mainly due to the impact of destocking of downstream customers of optical communications, the phased slowdown in demand from overseas telecommunications and traditional data centers, and the decline in revenue in the field of optical communications;
The main business income is classified by product, of which the precision optical component business achieved a revenue of 283 million yuan, a year-on-year increase of 1.30%, and the optical fiber device business achieved a revenue of 56.5 million yuan, a year-on-year decrease of 12.50%. The main business income is classified according to the main application fields of the products, of which the revenue in the field of optical communication was 122 million yuan, a year-on-year decrease of 28%, the revenue in the field of fiber laser was 184 million yuan, a year-on-year increase of 16.5%, and the total revenue of scientific research, biomedical, consumer optics, semiconductor equipment and other application fields was 340 million yuan, a year-on-year increase of 104.53%.
11
Daheng Technology
In 2023, Daheng Technology will achieve operating income of 2.33 billion yuan, an increase of 0.42% from 2.322 billion yuan in 2022, and net profit attributable to shareholders of listed companies of 49.91 million yuan, a decrease of 28.23% from 69.54 million yuan in 2022, mainly due to the decline in the performance of the optical thin film center and machine vision group of the company's subordinate business divisions and the impairment of Apple's individual receivables.
Specific to the optical business, Daheng Technology will achieve revenue of 172 million yuan in optical components in 2023, a year-on-year decrease of 39%, and 2.46 million pieces of optical components and precision optical devices in 2023, a year-on-year decrease of 69%, and its optical thin film center will achieve an operating income of 54.07 million yuan in 2023, a decrease of 68.25% compared with the same period in 2022. Affected by the shrinking market demand for biological filter components, orders and revenue for related products decreased year-on-year, and net profit decreased significantly compared with the same period last year. According to the changes in market demand, the optical thin film center adjusts the R&D direction in a timely manner, and the new R&D product gene sequencing filter element has completed the product R&D trial production and formed sales, which has a great competitive advantage in the domestic market. In 2023, the industrial machine vision group of China Daheng's subordinate industry will achieve operating income of 1.133 billion yuan, a decrease of 1.05% from 1.145 billion yuan in the same period in 2022.
12
Gobiga Optoelectronics
In 2023, Gebijia Optoelectronics achieved operating income of 808 million yuan, a year-on-year increase of 88.26%, and the net profit attributable to shareholders of the listed company after deducting non-recurring gains and losses was 125.1998 million yuan, a year-on-year increase of 211.83%. Specific products: optical glass achieved revenue of 286 million yuan, down 9% year-on-year, and special glass achieved revenue of 517 million yuan, year-on-year increase of 350%. The main reason for the change in performance is that affected by the country's macroeconomic fluctuations, the decline in customer demand at the downstream application end of optical glass, and the significant decline in the prosperity of the optical glass manufacturing industry.
13
Fujing Technology
In 2023, Fujing Technology will achieve operating income of 782 million yuan, a year-on-year increase of 24%, a net profit attributable to shareholders of listed companies of 200.0815 million yuan, a year-on-year decrease of 11.62%, and a net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses of 194.0224 million yuan, a year-on-year decrease of 9.73%.
14
Optoelectronics
In 2023, Aopu Optoelectronics will achieve operating income of 775 million yuan, a year-on-year increase of 1.72%, and a net profit attributable to shareholders of listed companies of 94.29 million yuan, a year-on-year increase of 15%, mainly due to the year-on-year increase in the net profit of its holding subsidiary Changguang Aerospace, and the company's shareholding ratio in the reporting period was 51.11%, compared with only 11.11% from January to September last year Second, one of the company's shareholding companies recognized a large amount of equity payment expenses in the same period last year, which affected the year-on-year increase in the net profit of the shareholding company, and the investment income recognized by the company according to the proportion of shareholding increased year-on-year.
15
Zhejiang Lante Optics
In 2023, Lante Optics will achieve operating income of 754 million yuan, an increase of 98.35% over the same period of last year, and net profit attributable to owners of the parent company of 180 million yuan, an increase of 87.70% over the same period of last year. The main reason for the change in performance: Based on the market of precision optical components, Lante Optics continuously develops new products, enhances product competitiveness, grasps the development opportunities in the fields of consumer electronics and automotive intelligent driving, and greatly improves the overall shipments and sales revenue, which further consolidates the company's market competitive advantage.
16
Fuguang shares
In 2023, Fuguang Co., Ltd. will achieve operating income of 587 million yuan, a year-on-year decrease of 24.81%, operating profit of -88.5976 million yuan, a year-on-year decrease of 586.62%, and net profit attributable to owners of the parent company of -69.0829 million yuan, a year-on-year decrease of 336.16%.
17
Jiaxing Zhongrun Optics
Zhongrun Optics will achieve operating income of 380 million yuan in 2023, a decrease of 6.23% from the same period of the previous year. Mainly affected by macroeconomic fluctuations and short-term fluctuations in downstream customer demand, the sales revenue of products in the field of digital security has declined, but the sales revenue of products in machine vision and other emerging fields has increased steadily. The total profit was 36.5815 million yuan, a year-on-year decrease of 16.37%, and the net profit attributable to the owners of the parent company was 36.3309 million yuan, a year-on-year decrease of 11.64%. Mainly due to the increase in product categories and terminal application fields, the investment in R&D expenses remained at a high level, the sales expenses and management expenses increased, and the government subsidies decreased, but with the change of product structure, the company's overall gross profit margin increased slightly.
18
Medikai Optoelectronics
In 2023, Medichem Optoelectronics will achieve an operating income of 320 million yuan, a year-on-year decrease of 22.41%, and a net profit attributable to the owners of the parent company of -82.9628 million yuan, a year-on-year decrease of 475.58%. The main reasons for the change in performance are: some customers digested the inventory in the early stage, the order decreased, at the same time, the fixed assets invested in the new project were larger, the corresponding depreciation expense increased by 25.6649 million yuan, the new product certification cycle was longer, and the economic benefits were slower, resulting in a decrease in net profit.
19
Eco Optoelectronics
In 2023, Eco Optoelectronics will achieve operating income of 236 million yuan, a decrease of 10.31% over the same period of last year, and a net profit attributable to owners of the parent company of 15.7339 million yuan, a decrease of 77.63% over the same period of last year. The main factors affecting the operating performance: Affected by the global economic downturn, the overall macro economy and the cycle changes of the lithium battery and other industries, customer demand declined, and the company's orders decreased, resulting in a decline in the company's sales and sales gross profit margin.
Hefei Echo Optoelectronics Technology Co., Ltd. is engaged in the research and development, design, production and sales of industrial machine vision imaging components, including industrial cameras and image grabbers. The main customers of Eco Optoelectronics are Yimeizhi and Jingce Electronics. Echo Optoelectronics has a total of more than 110 models of industrial line scan cameras, industrial area scan cameras and frame grabbers. The products have been used in batches in PCB, new display, 3C, lithium battery, photovoltaic, semiconductor, packaging and printing industries.
20
Opt Technology
Guangdong Opta Technology Co., Ltd. will achieve operating income of 966 million yuan in 2023, a year-on-year decrease of 15.38%, due to the slowdown in investment in the new energy industry, the slow recovery of the 3C industry, and the decrease in terminal demand, the company's operating income decreased compared with the previous year. The net profit attributable to the owners of the parent company was 208 million yuan, down 35.89% year-on-year.
Founded in 2006, Optimum is mainly engaged in the research and development, production and sales of core software and hardware products of machine vision, and is one of the earliest enterprises in the field of machine vision in China. Optimum has a complete set of core software and hardware products for machine vision, and its independent product line has comprehensively covered vision algorithm library, intelligent vision platform, deep learning (industrial AI), light source, light source controller, industrial lens, industrial camera, smart barcode reader, and 3D sensor.
From: Optical Components and Instruments Branch China Optics and Optoelectronics Industry Association
Yangtze River Delta G60 Laser Alliance Chen Changjun reprinted!
At the same time, welcome to the 2nd Conference on the Application of Laser Intelligent Manufacturing in the Energy Storage Industry held by the Yangtze River Delta G60 Laser Alliance in Nanjing (Nanjing, April 23-25, 2024)