Source: Beijing Business Daily
It hurt my vitality because I was kicked out of the "fruit chain" Ophiro How to regroup is the focus of the market. On the evening of April 19, Ophigo released its annual report for 2023. During the period, the group realized an operating income of 16.862 billion yuan, up 13.73% year on year; The net profit attributable to the parent company was 76.905 million yuan, turning loss into profit on a year-on-year basis; However, after deducting non net profits, the company still suffered a loss of 293 million yuan last year. From its performance in 2023, on the one hand, the company actively adjusts its product direction through the accumulation of underlying technology; On the other hand, its involvement in new energy vehicles and other emerging tracks seeks diversified development. On the road to recovery, OFIG is still looking for opportunities in danger.
Product focus shift
Since it was kicked out of the "fruit chain" by Apple in 2021, who will be the next big customer of OphiLight? It has touched the market's attention. It has been publicly reported that OphiLight has obtained most orders for Huawei Mate 60 series rear camera, front camera and fingerprint module. It is reported that the camera module of a single Taiwan China Mate 60 series mobile phone is worth between 500 and 600 yuan, However, OFG has always been secretive about specific customer situations.
From the 2023 financial report data, it can be seen that the profit recovery of OphiLight mainly depends on non operating income. In 2023, the company will obtain 70.497 million yuan from the disposal of non current assets, as well as 122 million yuan of government subsidies. "Selling houses" has helped Ophigo a lot. It can be seen from the financial report that in 2023, Ophigo has sold some properties and land use rights in Suzhou and Shenzhen, contributing about 60.24 million yuan and 4.36 million yuan respectively.
To be sure, smart phones are still important to OFIG. In 2023, the company's smartphone product revenue will reach 12.25 billion yuan, accounting for 72.66%; The proportion of smart car products and new field products is only about 11.32% and 14.28% respectively.
Different from people's impression of OphiLight, its development no longer depends solely on mobile phone lens, and fingerprint recognition has now grown into its important business. OphiLight has officially mass produced fingerprint recognition modules since 2015, and now it is the main supplier of mobile phone manufacturers, especially its ToF front face recognition product, which accounts for a high proportion of the market in the Android mobile phone camp.
From the perspective of the industry, the idea of converting the focus of products of OFI Light is more feasible. Major General Ding of Industry Watch analyzed that lens and fingerprint identification have similarities in underlying technology. Generally speaking, fingerprint identification module also needs to use optical sensors to collect fingerprint information. In image processing, mobile camera module focuses on focus and color correction. Products that do well in this regard can also extract and identify user fingerprint features more accurately.
At the same time, experts also pointed out that although the mobile phone market has been depressed for a long time, it has improved since the second half of last year. In the fourth quarter of last year, mobile phone shipments increased by 8.5% year on year, mainly due to the demand for replacement. If Ophigo can firmly grasp this opportunity in the next time, it may accelerate the recovery process.
Why do key customers rely on
Looking back three years ago, when we broke up with Apple, the dependence of key customers did a lot of harm to OFIG. Seen from the business data in 2023, today's OFIG still has such worries.
Data shows that in 2023, the total sales of OphiLight to the top five customers will reach about 11.96 billion yuan, accounting for 70.9% of the total revenue; Moreover, the sales expenses last year also reached about 127 million yuan, up 14.85% year on year. Among the sales expenses, the market business expenses and business entertainment expenses increased to about 24.238 million yuan and 15.0399 million yuan respectively.
As for this situation, Ophigo said in the annual report that the sales revenue of the top five customers accounted for a high proportion of the company's total operating revenue, and there was a certain risk of dependence. If the purchase of the company by the key customers declined significantly, and the sales of other customers could not make up the deficit, the company's revenue would be adversely affected.
As for the problem of key customer dependence, experts pointed out that it is a common phenomenon of supply chain enterprises and cannot be simply regarded as a disadvantage. Major General Ding said that in the field of mobile phones, supply chain enterprises often grow with downstream customers. Joining the big customer supply chain is not only an affirmation of technical strength, but also from the development level, it can enable contract manufacturing enterprises to grasp market demand keenly, grasp the latest technological trends, and lay the foundation for long-term development.
As for how to offset the adverse factors, the current strategy of Ophigo is mainly to set foot in emerging industries in order to diversify risks. In 2023, the revenue share of Ophigo's smart car products will rise from 9.09% to 11.23%, and the proportion of products in new fields will rise from 11.35% to 14.28%.
At the same time of transformation, Ophigo, which has been losing money for several years, also expressed its desire for profits. In its annual report, Ophigo said that the company would strengthen its internal economic efficiency assessment, replace income with profit as the assessment standard, gradually reduce businesses with relatively low gross profit, and strive to expand and strengthen advantageous businesses.
The reporter of Beijing Business Daily interviewed Ou Feiguang on relevant issues, but no reply has been received as of press release.
Beijing Business Daily reporter Tao Feng, Wang Zhuli
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