Oufei light even closed three daily limit, the main supply Huawei Mate 60 series is just the tipping point

In the recent capital market, the performance of Ophil (002456.SZ) is enough scenery.

On September 28, October 9 and October 10, the stock price of Ofiguang rose by the limit for three consecutive trading days. As of press release, the stock price of Ofiguang was 7.74 yuan/share, with a total market value of 25.216 billion yuan.

Yang Sheng, a professional securities analyst, said that in 2023, Huawei mobile phones returned to the high-end strongly with the P60 series and Mate series, bringing blood transfusion momentum to the core supply chain. As a partner for many years, Oufei Light has become a beneficiary of it.

Although Oufei light has not officially announced the cooperation with Huawei's new machine, but according to the Chaodian think tank from the mobile phone industry chain, Huawei's latest listed Mate 60 series mobile phones, Oufei light mainly provides the rear camera, front camera and fingerprint module.

Chaodian think tank believes that since the second quarter of this year, Oufei Light's business has returned to the growth track, and the driving force from the core strategic partner Huawei is very important, but the root cause is that the company's new strategic deployment and landing in the face of adversity.

01 Mobile "Avengers"

Yang Sheng said that as the core main supply of the Mate 60 series supply camera module, it not only reflects its technical strength, but also reflects Huawei's deep trust in Oufei Light.

In fact, the two companies have been working together for more than a decade.

As early as 2012, Huawei and Ophil signed a strategic cooperation agreement. As Huawei's smartphone business continues to grow, the latter has become one of its most important partners.

To some extent, both sides have hit different lows in the mobile phone market. It is a difficult process of mutual licking and mutual achievement.

Huawei was once the global smartphone market leader. However, on May 15, 2019, the US government placed Huawei on the "entity list" on the grounds of so-called "national security issues" and prohibited it from doing business with US companies without a license, and the sanctions mainly involved Huawei's business in communications equipment and technology.

Since then, Huawei's mobile phone market share once slipped to outside the top 10, and even became the "other" in the mobile phone sales rankings compiled by many institutions.

With 5G technology and its self-developed Kirin chip, Huawei is still competitive enough in the high-end mobile phone market and has raised its sales target to 40 million units in 2023.

The recent high praise of Mate 60 series by a number of professional evaluation agencies, as well as the scene of consumers queuing to buy, is thought to have surpassed the Apple iPhone 15 series.

Oufei light trough and rebound also experienced a tortuous road. From joining Apple's supply chain to quitting, from being envied by some friends in the industry to mocking, it took only three years. During this period, Ofiguang had faced enormous operating pressure.

In the face of adversity, with the advantages of high quality and automated production line, OFiguang continues to optimize the process of various products by improving the production process, constantly improve the product yield, and then reduce the production cost, evolve to a platform enterprise, and establish a long-term deep cooperation relationship with many brand customers such as mobile phones and automobiles.

Financial data show that in the second quarter of this year, Ofiguang's revenue reached 3.619 billion yuan, an increase of 13.69%.

According to Chaodian think Tank, the cooperation between Huawei and Ophil is not limited to the camera module, but the two sides have also conducted in-depth cooperation in other areas, such as optical communication modules, fiber optic sensing and other fields of cooperation.

02 New strategies for survival

After facing the challenge of Apple's order fluctuations, Ofilang adopted a series of technological innovation and diversification strategies to extend its business tentacles to smart phones, VR/AR, autonomous driving and other fields.

In June 2021, Ofiguang released the "Announcement of the Strategic Plan for the Next five Years", which clearly proposed to form a three-pillar situation, developing the three businesses of smart phones, smart cars and new fields side by side.

Although the global smartphone market has been weak in recent years due to factors such as the extension of the replacement cycle and the downward consumer environment, OPPO is still the head of the supply chain for camera modules, lenses, fingerprint recognition modules and other products, and its customers include Huawei, Xiaomi, Honor, OPPO and almost all mainstream brands.

In the field of intelligent driving tuyere, the performance of Oufei Light is even more amazing.

The layout of Ophil in the automotive field includes intelligent driving, body electronics and intelligent central control, based on optical lenses and cameras, extending to a rich product matrix such as millimeter wave radar, Lidar, head-up display (HUD).

Oufei-light said that the company's vehicle business can provide system-level solutions, can customize the development of automatic parking system, peripheral vision system, driving domain controller, fifth-generation body domain controller with integrated Ethernet gateway, instrument central control, HUD and other system-level products, with the ability to achieve cross-domain integration in the future.

On September 25, Oufei Light issued an announcement that the company intends to increase the capital of its holding subsidiary Anhui Oufei Intelligent Vehicle Technology Co., LTD., by 1 billion.

According to the financial report, in 2022, the revenue of OFiguang intelligent vehicle products was 1.212 billion yuan, an increase of 18.21%.

Ofiguang said that around the core areas of smart phones, smart cars, new fields and so on, the company has formed a rich variety, complete series, reasonable distribution and comprehensive technical path product structure.

In addition to strengthening the business side, Ophil is also at the forefront of the optical industry in terms of research and development.

Financial data show that in the first half of 2023, Ofiguang invested 682 million yuan in research and development, accounting for 10.80% of revenue, and the layout field involves smart phones, smart cars and new fields. As of June 30 this year, the company has applied for 1,953 valid patents worldwide and holds 1,345 authorized patents.