Fenda Tech(SZ:002681)2022-12-06 09:36Group 1: Company Overview and Market Position - Shenzhen Fenda Technology Co., Ltd. is actively involved in the mobile smart terminal metal appearance parts industry, which is experiencing rapid growth. According to IDC, in Q3 2016, OPPO and VIVO became the top two brands in the Chinese market, with VIVO being the largest customer for the subsidiary Openda [3][4]. Group 2: Production Capacity and Investment - Openda has announced the procurement of 200 high-speed polishing-free machines to expand production capacity and improve product quality, as current production is at full capacity [4]. - The company has also established an automation team, including PhD and Master's graduates, to enhance the automation level in various processes, aiming for a significant improvement in product yield [4]. Group 3: Smart Wearable Products - Despite a significant decline in global smart wearable shipments in Q3 2016, the company believes in the long-term potential of smart wearables, especially in the integration with mobile healthcare [5]. - The company has made substantial R&D efforts in medical-grade wearable products and has obtained ISO13485 certification, with ongoing efforts for FDA registration and compliance with other countries' medical device regulations [5]. Group 4: Financial Impact of Currency Fluctuations - The depreciation of the RMB is beneficial for the company's main business, as over 90% of its electroacoustic and hairdressing appliance products are exported [5]. Group 5: M&A Strategy - The company remains committed to a continuous M&A strategy, viewing it as a crucial means for external expansion. The successful acquisition of Openda has provided valuable experience for future M&A endeavors [6]. Group 6: Future Development Plans - The second phase of the company’s park construction, covering an area of 264,000 square meters, is part of its strategic plan, with some buildings already in use and the overall project expected to be operational by the end of the year [6]. Group 7: Shareholder Confidence - Since its listing in 2012, the current management has not sold any shares, which is rare in the A-share market. The company emphasizes the importance of rational perspectives on shareholder actions [7].