Chapter 247 Group Summary Meeting 1
Chapter 247 Group Summary Meeting 1
January 18, Dongyang.
The group annual summary meeting originally scheduled for January 6 was postponed for 12 days because Kang Chi was really busy during this period. Zhang Qing did not officially issue the notice until he confirmed the date of his return from Dalian.
After getting off the plane, Kang Chi briefly inspected the production situation of Pangu Base. After confirming that the engineers of Datang Heavy Industry were cooperating with Bai Niu to manufacture Silver Crane according to the plan, he drove to Datang Heavy Industry.
When he entered the conference room, it was already full of people.
”Hello, Mr. Kang!”
”Brother Kang, long time no see!”
”Welcome Mr. Kang!”
”…”
When they saw Kang Chi coming in, everyone immediately stood up and welcomed him with warm applause. Most of them were people Kang Chi didn’t know, and some were even old acquaintances. They didn’t have many opportunities to meet each other.
Kang Chi hadn’t seen Fang Qiming in Dongyang for several months.
After smiling and nodding to everyone, Kang Chi waved for them to sit down, and then, under the guidance of Zhang Qing, sat in the middle of the first row. With Kang Chi sitting down, the summary meeting that everyone in the group was looking forward to finally began.
The annual summary meeting is a time to review the company’s gains in the past year, so everyone is curious about how the group has developed after another year of rapid development, and whether they have kept up with the pace of their brother companies…
As the first company established by the group, although Daqin Optics is not large in size, it has always had a status like a son in the group.
Everyone knows that making cameras is not actually profitable, but Kang Chi, who has a unique feeling for cameras, often personally promotes Daqin Optics, so Fang Qiming naturally became the first group executive to speak on stage today.
After several years of experience, Fang Qiming is now a completely different person from the young man who just started out. He has the temperament and calmness that is unique to a leader.
However, when he glanced at the hundreds of executives at the scene and saw Kang Chi sitting in the audience, his eyes couldn’t help but be a little dazed.
The bus stop that winter became the place that changed his destiny.
Kang Chi’s words “Would you consider working with me?” still linger in my ears.
If he hadn’t met Kang Chi, he wouldn’t know where his life would go.
But he is very sure that it would definitely not be as glorious as it is now…
After nodding to Kang Chi with gratitude and respect, Fang Qiming quickly entered the reporting state, opened the PPT and started the work report of Daqin Optics.
“Daqin Optics is currently divided into five major business segments, namely consumer digital cameras and lens business, mobile phone lens business, EUV lithography machine business, security surveillance camera business, and other optical product businesses such as sights, microscopes, astronomical telescopes, etc.”
”Last year, Daqin Optics’ consumer digital camera and lens business achieved a total annual sales of 21.144 billion yuan.”
”Among them, 1.213 million camera bodies were sold, with a total sales of 11.045 billion yuan, including 987,000 units in Wu’an and 226,000 units in Tongwu, with sales of 4.934 billion yuan and 6.102 billion yuan respectively.”
”In terms of camera lenses, a total of 4.1076 million units were sold, with a total sales of 10.109 billion yuan, including 3.1584 million units sold for Hero mounts and 949,200 units sold for Haojie mounts, with sales of 6.313 billion yuan and 3.796 billion yuan respectively.”
”In terms of mobile phone lens business, the actual shipment volume last year was 33.93 million, and the actual sales volume was 9.138 billion. Among them, Wucheng had 28.9 million high-end cameras, and Wuyun had only 5.03 million mid- and low-end cameras because they were developed relatively late and affected by production capacity. However, there are more than 30 million orders in backlog. Of course, Wucheng also has more than 20 million orders, so the market space and potential for mobile phone lenses are still very large.” “In terms of lithography machines, a total of 24 Qinguang No. 1 were delivered last year, with a total sales volume of 23.76 billion. This number is expected to double again this year as production capacity increases.”
“The remaining security surveillance camera business, as well as other optical product businesses such as sights, microscopes, astronomical telescopes, etc., will not be analyzed one by one because the product models are relatively complex. The total sales volume of these two business segments for the whole year is 3.789 billion, of which 1.708 billionThe biggest part is the 500,000 sets of sights purchased by the military. ”
[Total sales of 57.831 billion, net profit of 17.867 billion]
This is the final report card given by Daqin Optics.
This report card shocked all the executives! The average monthly turnover of Daqin Optics in the year before last was only more than 30 million, and the annual sales were less than 500 million.
But with the technological breakthrough of the lithography machine, after being able to make cameras by themselves, the data in all aspects has increased by almost a hundred times, which is indeed a bit exaggerated.
According to this trend, it is estimated that the turnover of Daqin Optics this year will be able to enter the threshold of 100 billion.
Compared to other companies, Daqin Optics’ cash flow and profitability have been very stable and healthy, with basically no debt. The only loan was the 60 million yuan that Kang Chi borrowed when he founded Dahan Silicon Industry…
To give a more intuitive example, although Huawei’s total global sales in 2019 reached more than 600 billion RMB, its net profit was only 35.6 billion. So if we only look at profitability, Daqin Optics is almost equal to half of Huawei in 2019.
Of course, Huawei’s profit in 2019 was so low because that year was their most difficult. Most of the money earned in a year was invested in research and development. Their financial statements for last year have not been made public yet, but they have definitely skyrocketed.
And most of Daqin Optics’ R&D costs were taken care of by Kangchi. Coupled with the 56% profit margin of the lithography machine business, Daqin Optics’ report card is so impressive.
After Fang Qiming finished his report, everyone immediately gave him a warm applause.
The next person to come on stage was Ming Yuhan.
This Kangchi had used this secretary for less than a year. Although his performance was not amazing, his ability was relatively balanced. For Dahan Silicon Industry, It is enough for a company that focuses on production management and basically does not need to consider expanding its territory, so Zhang Qing has promoted him to become the CEO of Dahan Silicon.
The product structure of Dahan Silicon is also very simple, that is, selling silicon wafers. The current monthly production capacity is stable at 2.6 million pieces, with annual sales of 21.42 billion.
”…After separating the R&D department, Dahan Silicon’s profitability has been significantly improved, with the net profit margin increasing from 29.79% in the previous year to 41.9%. Last year’s net profit was 8.974 billion, and the company currently has 13.43 billion debts that have not been repaid.”
Ming Yuhan finally concluded: “With the current domestic semiconductor companies’ demand for large-size silicon wafers continuing to rise, Dahan Silicon plans to expand production to 3 million pieces per month this year, and is expected to repay all loans in the first quarter of the following year. ”
Will the 23.45+5 billion loan be repaid the year after next? This time point is much faster than Kang Chi expected.
After all, Dahan Silicon Industry was able to get something for nothing and directly swallowed up Silicon Letter, which had a market value of more than 20 billion. Now, in just one year, it will basically be completely digested.
Moreover, Dahan Silicon Industry now has a profit of 8.974 billion per year. Compared with Silicon Letter, which was barely supported by the transfusion of Shencheng Silicon Industry, its value is completely different. level.
For companies with stable profits, the valuation is generally equal to the profit of the previous year multiplied by five to ten times, and Kangchi’s companies are all industry leaders, so if he wants to sell, it is estimated that the capital will rush to buy it at ten times the top amount.
So if calculated in this way, the valuation of Dahan Silicon Industry is at least 80 to 90 billion.
As for companies like Daqin Optics, which still have a lot of room for growth, let alone multiplying the profit by ten times, multiplying it by thirty times is definitely too low!
(End of this chapter)