Yu Tong Optical profit in the third quarter of the double increase, the proposed 78.55 million yuan acquisition of Aonei optoelectronics

With the business performance of multi-point flowering, Yu Tong Optical (300790.SZ) ushered in its own harvest season.

According to the results announcement released by Yu Tong Optical on October 26, the third quarter of this year achieved revenue of about 600 million yuan, an increase of 27.65% year-on-year; Net profit was 14,547,500 yuan, up 16.8% year-on-year.

It is worth noting that, affected by the macroeconomic situation and adverse events at home and abroad, in the overall downturn in the security industry, the beginning of this year, the market weak lower environment, Yu pupil optical operating data for the "sesame blossom high", showing a low before the high trend, the signs of recovery are obvious.

Yu Tong Optical announced on October 25 that the company intends to transfer 100% equity of Aonee Optoelectronics for 78.55 million yuan to further improve the strategic layout in the field of optical lenses. This is also after last year's successful transfer of Jiuzhou Optical part of the equity, Yu Tong Optical in the business development of another masterpiece.

Revenue in the first three quarters grew by 9.7% year-on-year, with positive vehicle contributions

In the intelligent security industry, after years of focus and deep cultivation, Yu Tong Optics in the global security monitoring lens industry leading position has been very stable.

Market data show that as of 2022, the shipment share of Yutong optical security monitoring lens has reached 47.45%.

According to the tide power think tank, due to the completion of the phase construction of national smart cities and related hardware in the past few years, the application of security cameras was once questioned whether it has touched the "ceiling", but from the performance of Hikvision, Dahua shares and other giants, the market incremental space of security cameras is quite abundant.

Chaodian think tank believes that because public security has a certain rigid demand attribute, the industry will return to steady growth in the medium and long term. The rapid growth of home-level security monitoring demand has also become another exciting point of the market.

As a long-term and stable core supply partner of Hikvision, Dahua shares and other companies, Yutong Optical's revenue in the first three quarters of this year was about 1.49 billion yuan, an increase of 9.7% year-on-year.

Among them, in addition to the formation of competitive advantages in the field of security, Yu Tong Optical in the automotive business plate also handed in a good report card.

This year's report, Yu Tong Optical disclosed for the first time the relevant business situation of automobile business. Vehicle lens revenue of about 88.537 million yuan; A year-on-year increase of 8,455.44%; The revenue of automotive optical accessories was about 37.56 million yuan. The two combined about 126 million yuan, accounting for 13.5% of the total revenue in the first half of the year.

Yu Tong Optical said that under the wave of intelligent driving, the car camera, laser radar, HUD, intelligent headlight industry is booming, the company is stepping up efforts to develop vehicle optics, vehicle optics into the second main industry.

In addition, according to the disclosure information, Yitongmed Optics has made significant progress in the emerging smart home, machine vision track, and new application optical fields such as video lenses, projection optical components, infrared thermal imaging lenses, eyepieces, SLR/micro single lenses, endoscopy and AR/VR lenses.

78.55 million yuan acquisition of Aoni optoelectronics, business breadth and depth with the same

According to the announcement on October 25, the board of directors of Yutong Optical agreed to the wholly owned subsidiary Dongguan Yucheng Technology Co., Ltd. to transfer the 26.5%, 20%, 19.5%, 19.5% and 14.5% of the shares held by Yang Xiangping, Wang Jun, Peng Xueming, Xie Mingxing and Lin Jianqing of Shangrao Aoni Optoelectronic Technology Co., LTD., respectively. And signed the "Agreement on the transfer of shares of Shangrao Aoni Optoelectronic Technology Co., LTD."

All parties agree that, based on the evaluation value determined in the Asset Evaluation Report on the proposed Equity Acquisition of Dongguan Yucheng Technology Co., Ltd. involving all shareholders' Equity Value of Shangrao Aoni Optoelectronics Technology Co., LTD., made by the evaluation agency hired by Yucheng Technology, the total consideration for the transfer of 100% equity of Aoni Optoelectronics is determined to be RMB 78.55 million Yuan.

After the completion of the equity transfer, Yu Cheng Technology will hold 100% of the equity of Aoni optoelectronics.

Information shows that the existing business team of Aonee Photoelectric has rich experience in the development, production and sales of optical lenses, and its optical lenses are mainly used in intelligent transportation, machine vision, digital cameras, medical devices, cinematography, UAV aerial photography and other optical related fields.

The highly consistent business layout is the key to the successful conclusion of the transaction between the two sides, and it is also the accurate start of the vertical and horizontal expansion of the lens business of Yu Tong Optical.

Yu Tong Optical said that the two sides through business cooperation, technology sharing, play synergy effect, can further enhance the company's overall strength in the field of optical lenses; It will help to further improve the company's strategic layout in the field of optical lenses, enrich the company's product diversity, extend the industrial chain, enhance the company's sustainable profitability, improve the company's market position in the field of optical lenses, and enhance the company's competitiveness and ability to resist risks.

Chaodian think tank found that, coincidentally, Yu pupil optical acquisition in recent years, the region is adjacent to their own, such as Guangdong Dongguan Jiuzhou Optical, Jiangxi Shangrao Aoni photoelectric, Yu pupil optical in these two places have built a headquarters center or production base.

This feature will also bring convenience and high efficiency to the resource integration, synchronous communication, management and coordination of the two sides.