Radar Finance Hongtu Products | Edited by Li Yihui | Deep Sea
The "King of Africa" in the emerging market country has been in trouble in India this time.
On July 15, Chuanyin Holding fell down, fell over 10%during the market, and eventually fell 4.95%.On the news, Qualcomm recently sued the Voiceover Holdings in the High Court of Derry in India, accusing the latter invading the four non -standard necessary patents.
The statement said that, like all smartphone manufacturers, Chuanyin used Qualcomm’s patented technology in its products.The Chuanyin Company recently signed a license agreement with Qualcomm for some of its products, but most of its products have not been permitted by Qualcomm, and they are still invading Qualcomm’s highly valuable patent portfolio.
In this regard, Chuanyin Holdings responded that the company would continue to negotiate with Qualcomm on patent issues to achieve the final result.
Radar Finance noticed that emerging markets, including India, are the direction of Chuanyin Holdings.According to the company’s 2023 annual report, the company has factories and logistics warehouses in India.According to IDC data, the company’s market share in India in 2023 was 8.2%, ranking sixth.
In terms of performance, Chuanyin Holdings has not disclosed the first half of the transcript. In the first quarter of this year, the company’s revenue and net profit both recorded a significant increase. However, there was a certain degree of decline in the fourth quarter of last year.The stock price has continued to decline.
It is worth noting that the current company’s controlling shareholder controlling shareholder Shenzhen Chuanyin Investment Co., Ltd. (hereinafter referred to as "Chuanyin Investment") transfer is about 1.013 billion yuan.This calculation amount reached 209 million yuan.
Prosecution by Qualcomm in India
On July 15th, Chuanyin Holdings opened low, and the fall in the early trading once exceeded 10%. As of the closing of the closing, the decline narrowed to 4.95%, with a total market value of about 85.1 billion yuan.
Earlier, it was reported that Qualcomm sued the Voiceover Holdings in the High Court of Delhi, India, and accused the latter invading the four non -standard necessary patents.
Subsequently, Qualcomm issued a statement on a lawsuit saying that like all smartphone manufacturers, Chuanyin Company used Qualcomm’s patented technology in its products. These Qualcomm’s wireless communication standard technology and patented technology in other fields are.The indispensable part of the mobile terminal of Chuanyin Company has contributed value for the global sales of Chuanyin Company, helping Chuanyin Company to become one of the top five smartphone manufacturers in the world.
Qualcomm said that Chuanyin Company recently signed a license agreement with Qualcomm for some of its products, but most of its products have not been permitted by Qualcomm, and they are still invading Qualcomm’s highly valuable patent portfolio.
In response to Qualcomm’s lawsuit, Chuanyin also responded that the pronunciation has signed a 5G standard patent license agreement with Qualcomm and is performing the agreement.However, in some countries, some patent owners do not have or only have a small amount of patents, but they are required to ask for excessive permit fees at a global unified rate.Guoabong Investment
The company added that the current influence is mainly in India (market).Some time ago, the company has signed a 5G standard patent license agreement with Qualcomm and is performing the agreement. The patents such as 3G and 4G have not reached an agreement. The company will continue to conduct patent negotiations with Qualcomm.
Some people in the industry have pointed out that the patent warfare in the mobile phone industry is not uncommon. This time, Qualcomm and Chuanyin Holdings have not reached uniformity in terms of rates. This is the key to differences.Qualcomm forced the primer to make a fan through litigation. Perhaps it is one of the game methods, and the probability of subsequent probability will reach an agreement.
The annual report shows that Chuanyin Holdings products are three major brand phones: Tecno, ITEL and Infinix, including function phones and smart phones.The sales area is mainly concentrated in global emerging market countries such as Africa, South Asia, Southeast Asia, the Middle East, and Latin America.
According to IDC statistics, the company’s share in the global mobile phone market in 2023 ranked third among global mobile phone brand manufacturers. Among them, the share of smart machines in the global smart machine market was 8.1%, ranking fifth; 2023 companies in the company; 2023 companiesThe share of the African smartphone market exceeds 40%, ranking first in Africa.
In the South Asian market, Chuanyin Holdings has 8.2%in the Indian smartphone market, ranking sixth.But the troubles faced by the company in India are more than that.
According to the company’s disclosure, as of December 31, 2023, the estimated liability project balance in the financial statement of Chuanyin Holdings Company was RMB 3.158 billion, including after -sales warranty, patent use fees, and paid taxes and fines for Indian companies.
Among them, as for the expected taxes and fines of Indian companies, the Yin Holdings explained that it was the Indian Tax Intelligence Agency (hereinafter referred to as DRI).Investigation was conducted. According to the preliminary communication results of the company and DRI, the company was accrued to the taxes that the above -mentioned imported screen components could be paid and the fines that were extended.At present, the company has not received a formal report from DRI.
As for other unsuccessful litigation arbitration, on September 25, 2017, the plaintiff KMC Electronics PVTPune Stock. LTD filed a lawsuit with Hon’BLE DELHI HIGH COURT, saying that its legally used trademarks "I Plus" and "Q-Tel" had it in India.With extensive popularity, the defendant’s holding subsidiary S MOBILE Devices Limited (India) and the wholly -owned subsidiary Itel Technology Limited (Hong Kong) the trademark "ITEL" used on mobile phones, accessories, batteries and other devices produced, sold, etc.Sending the above -mentioned trademark figures of the plaintiff, and the intention of consumers confusing the mistakes.The behavior has caused huge goodwill and economic losses to the plaintiff, constitutes trademark infringement.In order to safeguard its rights and interests, the plaintiff applied to the court before the ban.
According to Chuanyin Holdings, as of the approval report of the financial statements, the lawsuit is still under trial.However, the company believes that the behavior of "ITEL" trademarks used on mobile phones, accessories, batteries and other equipment produced and sold does not constitute trademark infringement, so it has not been provided or has liabilities.
The first quarter performance declined month -on -month
Chuanyin Holdings fell more than 10%of the previous stock price, which happened when the company disclosed the first quarterly report.
On April 25 this year, the stock price of Chuanyin Holdings fell rapidly after the opening, and a single day fell 10.88%.At that time, the company responded that changes in the secondary market price were affected by multiple factors, and the company’s current operation was normal.
On the previous day, the first quarter report disclosed by Chuanyin Holdings showed that the company achieved operating income of 17.443 billion yuan in the first quarter of 2024, a significant increase of 88.1%, and net profit was 1.626 billion yuan, an increase of 210.3%.
In the first quarter, the company explained that the growth of operating income was due to the company’s continuous development of emerging markets and promoting product upgrades, and performance growth also superimposed the factors of decline in expenses.
In addition to the first quarter, the company’s performance in last year also increased significantly.In 2023, the company’s overall shipments of mobile phones were about 194 million units, an increase of 24.23%year -on -year.The annual revenue achieved 62.295 billion yuan, an increase of 33.69%year -on -year; net profit was 5.537 billion yuan, a year -on -year increase of 122.93%, because the company’s new market development strategy achieved certain results, and the overall shipments and sales revenue increased.
However, the above results did not allow investors to satisfy. The company’s stock price turned around after disclosure and continued to decline to this day.In this regard, some analysts pointed out that the two major concerns behind the beautiful performance of Chuanyin Holdings were hidden behind. On the one hand, the company’s core indicators fell month -on -month, and on the other hand, the company’s market share was eaten.
Specifically, according to the Research Report of Zhongtai Securities, the operating income of Chuanyin Holdings fell by 9.5%month -on -quarter, and the net profit attributable to the mother fell 1.6%month -on -month.In addition, the company’s gross profit margin in the first quarter was 22.2%, a year -on -year decrease of 1.21 percentage points, and a decrease of 1.48 percentage points from the previous month.
In addition, Bo Wen, chief economist of IPG, seems that although Chuanyin Holdings has maintained a leading position in the African market, its market share has been eaten, and the company is also exploring diversified business.If the market is cautious about the company’s new business expansion and market competition, this may also put pressure on the stock price.
During the peak, Chuanyin Holdings had a transcendental position in the African market. The market share reached 57%, and the sales volume was first.However, in recent years, although the status of the company’s African mobile phone market has not shaken, the market share has been eaten, and the market share in the financial report has become "more than 40%".
Based on the above situation, Chuanyin Holdings chose to go out of Africa’s "base camp" and enter emerging markets such as Southeast Asia, the Middle East, and Latin America.
However, at the current stage of vigorous expansion of the new market, the company is facing the problem of sacrificing profit margins in exchange for market share growth.The financial report shows that the gross profit margin in other regions such as Asia in 2023 was 21.11%, which was far lower than 30.97%in Africa.Guoabong Wealth Management
Big shareholders cash out 1 billion yuan
At present, the general manager and chairman of Chuanyin Holdings are Zhu Zhaojiang.The annual report shows that Zhu Zhaojiang does not directly hold the equity of Chuanyin Holdings, but instead as the final controller through the company’s controlling shareholder Chuanyin Investment.
As of the end of last year, Chuanyin Investment held 408 million shares of Chuanyin Holdings, with a shareholding ratio of 50.64%.According to the information of Tianyan, Chuanyin Investment was established in 2013, and the largest shareholder was Zhu Zhaojiang, holding a shareholding of 20.68%.
According to public information, in 1973, Zhu Zhaojiang was born in Fenghua, Ningbo, Zhejiang Province.Since his childhood, Zhu Zhaojiang has been curious about the business world. Since his middle school, he has pondered small business such as candy, drinks, watches.
In 1992, Zhu Zhaojiang was admitted to Nanchang Aviation University to learn the major of mechanical and electronic engineering.Four years later, he graduated from university and entered the waveguide company to become a transmitter salesperson.
It is also the opportunity to help waveguide to develop international business that Zhu Zhaojiang discovered that the mobile phone market is almost a "white paper" African continent.In 2006, he resigned from the Director of Director and founded the transmission technology.In August of the same year, Chuanyin listed on the first mobile phone in Africa.
Since then, Chuanyin Holdings has a good adaptation to the environment with low level of local economic development and relatively lagging development of the mobile phone industry.Low products are like fish in the African market.
Afterwards, Zhu Zhaojiang really had a good vision.In the era of smartphones, with the dimension of Apple mobile phones to reduce the dimension of traditional feature phones, some familiar brands have been unable to compete in the domestic Red Sea market.The Chuanyin Holding Sword has fallen sharply and has achieved legends in overseas markets.Zhu Zhaojiang’s individual also ranked 1632th in the "2024 Hurun Global Rich List" with 16 billion yuan of wealth.
It is worth mentioning that since mid -April, the stock price of Chuanyin Holdings has fallen sharply, but the controlling shareholders choose to reduce their holdings at this time and make a big deal, which makes the stock price show the snow.
On May 17, Chuanyin Holdings announced that the company’s controlling shareholder Chuanyin Investment, due to its own capital needs, plans to transfer 1%of the company’s total shares by inquiry for 8.0656 million shares.Jaipur Stock
On May 23, the above -mentioned reduction was completed. The price transfer of this inquiry was 125.55 yuan/share, and the number of shares transferred was 8.0657 million shares. Based on this, the total amount of the total set was about 1.013 billion yuan.
Because the reduction of holdings occurred during the decline in the company’s stock price, investors suspected whether the company’s performance had problems.In this regard, on May 28, Chuanyin Holdings replied at the investor interaction platform that shareholders were arranged in accordance with the needs of their own funds, which has nothing to do with the company’s operating conditions and performance.Subsequent companies will continue to urge shareholders to strictly abide by their commitment to reduce their holdings. The company will also perform relevant information disclosure obligations in accordance with the requirements of relevant laws and regulations.Jaipur Stock
Kanpur Investment