Visionox(SZ:002387)2023-03-20 10:31Group 1: Company Overview and Financial Performance - The company focuses on the AMOLED display sector, with expected revenue for 2022 between 7.3 billion to 7.6 billion CNY, and OLED product revenue estimated at 6.62 billion to 6.92 billion CNY [1] - In 2022, the company maintained stable and rapid revenue growth, achieving significant breakthroughs in customer cooperation [1] - The company's AMOLED smartphone panel shipments ranked among the top four globally in 2022, with some quarters reaching third place [1] Group 2: Market Position and Customer Relationships - The company has established close collaborations with leading smartphone and wearable brands such as Honor, Xiaomi, OPPO, vivo, and Fitbit [3] - The market share of domestic screens is expected to continue increasing as terminal manufacturers recognize the quality of domestic products [3] - The company aims to further enhance supply share with core brand customers and actively expand cooperation with other leading brands in 2023 [3] Group 3: Production Capacity and Efficiency - The company’s overall utilization rate in Q4 2022 was 72%, exceeding the industry average by 12 percentage points, with specific lines achieving over 90% [4] - The company has implemented closed-loop management to ensure employee safety and stable production, optimizing product structure and increasing high-value product supply [5] - The company is actively working on enhancing production efficiency to improve capacity utilization [5] Group 4: Strategic Initiatives and Future Plans - The company is undergoing a major asset restructuring, acquiring a 40.91% stake in Hefei Visionox, which will enhance its control over advanced display technologies [5] - The company plans to expand its production capabilities in response to market demand, particularly in the mid-size OLED market [6] - Future innovations in automotive display technology are being explored, with a focus on enhancing the user experience in electric vehicles [4]