The third quarterly report of listed companies related to automobile industry chain is gradually landing. On the evening of October 25th, Desai Siwei disclosed its operating performance in the first three quarters. According to sources, judging from the performance forecast published by auto parts and OEMs, the performance of auto parts manufacturers in the third quarter is worth looking forward to, driven by the recovery of auto sales. The adjustment range of the automobile sector in this round has fully reflected the market expectation, among which the allocation value of parts and components sector is gradually showing.
Desai Siwei, the leading enterprise in the electronic market, achieved operating income of 10.111 billion yuan in the first three quarters, a year-on-year increase of 60.42%; The net profit attributable to the owner of the parent company was 692 million yuan, a year-on-year increase of 40.89%. Among them, the operating income in the third quarter was 3.704 billion yuan, a year-on-year increase of 66.83%; The net profit was 171 million yuan, a year-on-year increase of 40.68%.
'We have been deeply involved in the field of automotive electronics for 36 years. In the years when the global automotive market has been in a downturn, the company's performance has repeatedly broken through new highs and its growth momentum is strong. Seizing opportunities such as intelligent transformation of precision automobiles is a key factor to achieve rapid growth. ' According to Desai Siwei, in the field of intelligent cockpit, the company has established a competitive advantage in the leading market when the wave of big screen and intelligence is coming, and businesses such as display screen, LCD instrument and intelligent cockpit domain controller have taken advantage of the situation; In the field of intelligent driving, the company built an all-round capability in the early stage, deeply researched and judged potential technical solutions, and carried out in-depth strategic cooperation with key partners, so as to achieve strong cooperation. At present, intelligent cockpit, intelligent driving, networking services, etc. have become the direction of sustainable strategic development, and will bring sustained business growth to the company. In addition, the company also took the initiative to carry out organizational changes, build an efficient customer-centered organization, focus on resources to serve core customers, and achieved remarkable results in existing core customers and new breakthrough key customers. The customer structure was more perfect, and the order scale increased rapidly, further supporting the company's continuous growth in performance.
'With automatic parking, 360-degree high-definition look around, automatic driving domain controller, cockpit domain controller, 4K high-definition screen and other intelligent driving and intelligent cockpit new products being recognized by customers and mass production scale, the company will gradually consolidate its leading position in vehicle-mounted intelligence.' Western Securities emphasizes that with the coordinated development of the company's three business segments, namely, intelligent cockpit, intelligent driving and networked services, and the increase of mass production scale, the company's profitability will be further guaranteed. The fourth generation intelligent cockpit system based on the new generation intelligent central computing platform and Qualcomm Snapdragon cockpit platform will also become the company's new growth momentum.
It is worth noting that on October 5th, Desai Siwei Europe acquired ATC, the leading supplier of antenna testing and services, focusing on the testing, analysis and technology research and development of automotive antenna solutions. This is another expansion in the field of smart antenna after the company successfully acquired 100% equity of ATBB in 2019.
Boosted by the continued high growth in sales of new energy vehicles, the auto-related sectors collectively strengthened on the 25th, and the auto parts sector also ushered in a sharp rebound. Soochow securities pointed out that the adjustment range of the current auto sector has fully reflected the market expectation, and the bottom of the sector may be present, and it is expected to stabilize and rebound in November-December. On the configuration level, the auto parts sector involves light weight (including integrated die casting), chassis by wire, domain controller, etc. or is better than the whole vehicle sector.
Minsheng Securities said that with the significant acceleration of the resumption of work and production in China's automobile industry, the supply chain of the automobile industry chain is gradually unblocked, and the overall recovery momentum of the whole industry is obvious. Judging from the performance forecast published by auto parts and vehicle manufacturers at present, auto parts manufacturers and vehicle manufacturers performed brilliantly in the third quarter, driven by the recovery of auto sales from July to September. According to the data of traffic insurance, in the second week of October (October 10-October 16), 374,900 domestic passenger cars were licensed, up by 15% from the previous month. The sales volume of new energy passenger cars was 107,600, up 51.27% from the previous month, and the penetration rate of new energy was 28.7%. On the whole, the automobile industry is expected to start a new round of recovery in 2023. Intelligent relay electrification is expected to become the main direction of capital expenditure in the industry. It is suggested to pay attention to companies related to the industrial chain, such as cockpit electronics, domain controller, intelligent upgrade of traditional interior and exterior decoration of cockpit man-machine multi-mode interaction, etc.
'Electrification, intelligence and light weight are bringing new opportunities for change.' Cinda Securities said that under the change of electric intelligence, the wire harness, as the nervous system of automobile information transmission, ushered in new opportunities for upgrading, and the increased demand for high-voltage and high-speed wire harnesses brought broad incremental space to the industry. Under the new wave, automotive wiring harness has been endowed with new kinetic energy, and the original stable market structure with high concentration is expected to gradually loosen. It is time for local wiring harness manufacturers to expand.