According to 114 institutions researched and investigated, Yutong Optical will focused on the vehicle optics
“Car Optics is a key development direction for the company, currently focusing on product lines such as car lenses, head up display (HUD), and car lidar optics. It is expected that the business in this segment will grow rapidly this year.”
This is the information disclosed on March 21 when Yutong Optics (300790. SZ) released the investor relationship activity record form.
On March 17, Yutong Optics accepted a survey of 114 institutions, including QFII, insurance companies, others, fund companies, overseas institutions, securities companies, and Sunshine Private Equity. According to its annual performance forecast, it achieved a net profit of between 120 million and 160 million yuan in 2022.
According to public information, Yutong Optics is a professional optical solution provider based in the optical lens industry, providing products and services for security, consumer electronics, automotive, machine vision, and other fields.
1. The security market is recovering and is expected to have a rapid growth in the second half of the year
As a recommended brand for China’s smart city construction, the Security Industry Innovation Award, the Top 10 Emerging Products Award for China’s Security, and the Top 100 Security Enterprises in China, Yutong Optics has become a leading enterprise in the security monitoring lens industry through years of development.
In this research Q&A, Yutong Optics stated that at the end of last year, the epidemic prevention and control achieved a decisive victory, and the social production and living order completely returned to normal. It is expected that the security market will achieve restorative growth in 2023. The whole year may show a trend of low performance in the first half of the year and high performance in the second half.
In terms of new business growth points, Yutong Optical Security Integrated Machine products are expected to grow rapidly; Through years of cultivating overseas customers, the proportion of overseas sales is expected to increase this year; In addition, Yutong Optics has received a large order for its glass aspherical lenses, which will be improved in terms of product structure and customer structure.
According to Electrend, due to the impact of inventory and the overall environment, the market performance of security products in 2022 was relatively flat, but it is hopeful to grow this year. On the one hand, the security video surveillance market in developed countries in Europe and the United States has maintained rapid growth in recent years, and has entered the upgrade stage of “high-definition, networked, and intelligent” products. On the other hand, with the progress of related technologies such as IT communications and biometrics, the demand for security video surveillance in emerging economies such as China, India, and Brazil has rapidly expanded.
As an important optical component of security video surveillance, the optical lens market will also usher in a new growth cycle.
According to relevant research reports, the global shipment volume of surveillance cameras will reach 440 million in 2021, and it is expected that the shipment volume will increase to 550 million in 2025; Sales revenue will increase from $820 million in 2019 to $1.75 billion in 2025.
From the perspective of development trends, the global market currently prefers high-quality and reasonably priced products. Currently, 2MP resolution lenses still dominate the market, but high pixel lenses will become the future development trend.
2. Rapid progress has been made in automotive optics, and cooperation or contact has been initiated with domestic and foreign head office customers
Since officially entering the automotive field in 2021, the business progress of Yutong Optics has been receiving high attention.
Last July, Yutong Optics transferred 20% of the original shareholder’s equity of Jiuzhou Optics, completing the industrial and commercial change and changing its name to Yutong Jiuzhou. Yutong Jiuzhou has received a large number of targeted and bid-winning orders, covering domestic mainstream Tier1 and some overseas head customers. Currently, the main products are ambient view and cabin surveillance lenses, and ADAS lenses will be gradually mass produced within the year. Currently, the production capacity of vehicle mounted lenses is about 2 million units per month. Yutong Jiuzhou has planned to arrange three production workshops, and the production capacity can be arranged to be about 7 million units per month based on market and order conditions.
HUD is a new business of Yutong Optics. Currently, it mainly focuses on AR-HUD related optical accessories and some deep processing and assembly products. It has obtained multiple project locations and will achieve batch supply.
The vehicle borne laser radar product form is a cooperation mode mainly based on optical components, partial assembly, and testing. It is also a new business of Yutong Optics. Currently, there are frequent contacts with mainstream domestic laser radar manufacturers, and most products are still in the stage of sample delivery verification. Some products have already achieved small batch supply.
Yutong Optics stated that the vehicular laser radar optical components and HUD free-form surface products have been selected by several vehicle factory projects. According to existing conditions, there will be no bottleneck in production capacity, and the production capacity planning can be quickly adjusted according to the elasticity of market demand.