联创电子(002036) - 2020年3月5日投资者关系活动记录表

Group 1: Company Overview - Lianchuang Electronics was established in 2006 and began production in 2009, becoming a global leader in high-end lenses for action cameras [3] - The company entered the consumer electronics sector after its IPO in 2016, focusing on high-pixel and multi-camera developments [3] - Lianchuang has advanced capabilities in the research and production of high-end lenses, including 5P, 6P, and 7P lenses, as well as glass-plastic hybrid lenses [3][4] Group 2: Technical Advantages - The company ranks second globally in molded glass production capacity and holds the largest market share in high-end action camera lenses [4] - Lianchuang's glass-plastic lens technology has gained recognition from high-end manufacturers, with stable performance in high pixel and lightweight applications since 2018 [4][5] - The company has developed a complete production capability for camera modules, leading in non-mobile camera modules and producing the world's largest panoramic camera lenses [5] Group 3: Financial Performance - In 2019, the company projected profits between CNY 250 million and CNY 300 million, with optical revenue increasing by approximately 92% and touch revenue by about 38% [6] - The company's gross margin has remained stable at 15-20%, with optical products historically maintaining a gross margin around 40% before 2019 [8][9] Group 4: Market Trends and Challenges - The company is experiencing strong demand for high-definition wide-angle lenses and high-end mobile camera modules, despite a production recovery rate of 80-90% due to the pandemic [7] - The automotive sector is expected to see significant growth, with Lianchuang's lenses being recognized by major players like Mobileye and NVIDIA [6][10] - The company faces pricing pressures in the mobile lens market, but its focus on high-end products helps maintain stable margins [9][11] Group 5: Future Outlook - Lianchuang plans to expand production capacity significantly, aiming to increase optical lens output to 20 million units per month by Q3 2020 [12] - The company is focusing on the development of ADAS lenses, which are expected to grow rapidly due to their high technical requirements [8][10] - The transition to glass-plastic lenses is seen as a potential opportunity, especially for high pixel applications exceeding 48 million pixels [13][14]