news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

Affected by the concentrated disclosure of semi-annual reports, institutional research enthusiasm continued to rise this week (August 19th to 23rd).

As of August 23, a total of 100 A-share listed companies received institutional research. In terms of popular research stocks, the number of institutions gathering for research has increased significantly. 12 companies including Hitech Shin Kong, ZWSoft, Jardine Matheson, and Will Semiconductor were surveyed by more than 100 institutions.

This week, institutions are no longer focusing only on blue chip stocks; companies whose performance showed significant downward movement in the first half of the year are also receiving attention from institutions.

The company that received the most institutional research during the week was Hi-Tech Shin Kong, with 234 research institutions.

The company's performance in the first half of the year declined significantly: operating income in the first half of the year was approximately 220 million yuan, a year-on-year decrease of 17.7%; net profit attributable to shareholders was approximately 71 million yuan, a year-on-year decrease of 21.02%.

The main reason for the decline in performance was that American customers slowed down the pace of purchasing from the company in order to reduce inventory, resulting in a short-term decline in the company's revenue.

Founded in 2003, Hitech Xinguang is mainly engaged in the research, development, production and sales of medical endoscope instruments and optical products. Its products are mainly aimed at overseas markets, especially the US market. It is the only supplier of endoscope system-related products for US customers.

During the survey, Hitech Shin Kong said that the company sold more than 9,000 endoscopes in the first half of the year, a slight decrease from the first half of last year. The sales volume of endoscopes in the second quarter was about 4,500. The sales volume of light source modules in the first half of the year was 1,800 sets, which was a big difference compared with more than 6,000 sets in the first half of last year. The main reason was that last year, customers launched new systems and had more light source modules in stock for the new systems. This year, reducing inventory affected the company's shipments.

During the investigation, the agency also asked about the remaining orders between Hitech Shin Kong and its American customers, as well as plans for the next new order.

Hi-Tech Shin Kong said that the company reached an agreement with its US customer that orders would be transferred to its US subsidiary from July, and that the orders that had already been placed would also be transferred. At the same time, the US customer updated its order system, and the new system no longer placed long-term total orders, but placed orders to the US subsidiary in real time based on its accounting logic, so orders between the US subsidiary and the customer were continuously placed.

Another company that also received research from more than 200 institutions this week is Zhongwang Software, a high-tech enterprise that mainly engages in the research, development, promotion and sales of industrial software such as CAD/CAM/CAE.

In the first half of 2024, ZWSoft achieved operating revenue of 308 million yuan, a year-on-year increase of 11.79%; net profit attributable to shareholders of the parent company was 5.9762 million yuan, turning losses into profits year-on-year.

As a high-tech enterprise, institutions are more concerned about its R&D investment. They were asked why its R&D investment grew rapidly in the first half of the year but the total number of employees in the company decreased compared to the end of 2023.

Zhongwang Software said that in the first half of 2024, the company's R&D expenses grew relatively fast, mainly due to the increase in staff size after the acquisition of Bochao Software and the increase in average salary due to the introduction of industry leaders. Although the company's total number of R&D personnel on June 30 decreased compared with the same period in 2023, the average number of R&D personnel during the period still increased by nearly 20% compared with last year.

Semiconductor IC design giant Will Semiconductor also received much attention from institutions, with 179 institutions participating in the research on the company this week.

Will Semiconductor is a Chinese semiconductor design company ranked among the top in the world. Its semiconductor product design business is mainly composed of three major business systems: image sensor solutions, display solutions and analog solutions.

The 2024 semi-annual report disclosed by Weilan Technology shows that in the first half of the year, the company achieved main business revenue of 12.07 billion yuan, a year-on-year increase of 36.64%; net profit attributable to shareholders was 1.367 billion yuan, a year-on-year increase of 792.79%, achieving a performance reversal.

The company said that as the consumer market further recovered, downstream customer demand increased. With the company's introduction of products in the high-end smartphone market and the continued penetration of autonomous driving applications in the automotive market, the company's operating income achieved significant growth.

Institutions are more concerned about the investment of Will Semiconductor in R&D. In the five years from 2019 to 2023, Will Semiconductor's R&D investment in semiconductor design business totaled more than 12.5 billion yuan. In the first half of 2024, the company's R&D investment in semiconductor design business was approximately 1.582 billion yuan, accounting for 15.18% of the revenue of semiconductor design sales business.

In addition, the agency asked about Will Semiconductor's layout for emerging applications such as AR/VR, including AI glasses. Will Semiconductor said that in terms of image sensor products, the company is in a leading position in terms of power consumption, HDR, low noise and other performance; in addition, the LCOS products developed by the company will provide more support for emerging markets such as AR/VR in terms of economic adaptability and solution feasibility with its high resolution, compact size, low power consumption and low cost.