“Ice and fire” of Beidou concept stocks: the whole industry chain has been rushing to 400 billion yuan, but the leading stocks have lost 600 million yuan a year

On July 31, the completion and opening ceremony of beidou-3 global navigation satellite system was held, which means that China’s independently constructed and independently operated global satellite navigation system has been fully completed.

on August 3, ran Chengqi, spokesman for Beidou satellite navigation system, said that Beidou is one of the four major global satellite navigation systems recognized by the United Nations. At present, Beidou’s related products have been exported to more than 120 countries and regions, and Beidou provides services to more than 100 million users worldwide.

it is shown that the total output value of China’s satellite navigation and location service industry will reach 345 billion yuan in 2019, with a year-on-year increase of 14%, and it is expected to exceed 400 billion yuan this year.

in addition, China’s satellite navigation industry accounts for 10.9% of the upstream, 47.5% of the midstream output value, and 41.6% of the downstream output value, which also means that the application degree of the satellite navigation industry in the user end and the market side continues to improve.

affected by the good news, on August 3, a number of Beidou concept stocks raised the trading limit. More than 10 stocks such as Beidou Xingtong, Unistrong, North navigation, China Satcom, and China test navigation were trading, while those of China Haida and aerospace electronics were close to trading limits.

as the first listed company in China’s satellite navigation industry and the only Beidou industry chain stock that has been invested by national large fund, Beidou Starcom is the biggest winner.

at the Beidou navigation press conference on August 3, the official said that the domestic Beidou system 28nm process chip had been mass produced, and the 22nm process chip was about to be mass produced. Subsequently, Beidou Starcom also said on the interactive platform that the company’s 28nm chip has been applied in mass production; the 22nm chip is currently in the customer verification stage and is expected to be mass produced next year.

according to the 2019 annual report, during the reporting period, Beidou Xingtong achieved an operating income of 2.987 billion yuan, a year-on-year decrease of 2.10%, and a net profit loss of 651 million yuan attributable to the shareholders of the listed company, and the net profit of the previous year was 107 million yuan, a decrease of 710.59% year-on-year.

another leading enterprise in the Beidou concept shares is also gloomy. In 2019, the operating revenue was 1.548 billion yuan, a year-on-year decrease of 32.66%; the net profit loss was 1.061 billion yuan, a year-on-year decrease of 654.01%. In the first quarter of this year, the performance continued to be under pressure. From January to March, the company lost 124 million yuan.

the performance in 2019 shows that many companies of Beidou concept stock have suffered the largest loss since listing. Wind data shows that there are 29 “satellite navigation concept stocks” in a shares, but the average net profit attributable to the parent company is less than 5% of the overall average value of a shares.

such performance is closely related to the concentrated goodwill impairment of these companies. According to the data, among the 29 satellite navigation concept stocks, 17 have a goodwill scale of more than 100 million yuan.

because such companies need to continuously expand their business scale through extensive M & A, and realize the coverage of the whole industrial chain of upstream, midstream and downstream, which can achieve immediate results in performance, but the huge amount of goodwill accumulated from this also has the risk of “thunder”.

for example, in 2007, Jiangsu Sanyou Group Co., Ltd., a clothing manufacturer, announced that it had signed with relevant partners. The company will pay a down payment of 1 million yuan for the research and development of “Beidou time service equipment”, and will also be responsible for organizing the small-scale improvement and pilot test of the “Beidou time service equipment” project; and will invest 3.75 million yuan to establish Jiangsu Beidou company with its partners to develop, manufacture and sell Beidou satellite system application equipment.

However, the development of beidoude in Jiangsu Province was not satisfactory. In 2014, beidoude was bankrupt and liquidated due to insolvency. This “rub hot spot” also ended in failure.

in addition, in 2018, a number of media reported that an app called “Beidou map” would be launched. It is said that the navigation function of the product can be accurate to within 1 meter, and can clearly locate the specific lane. However, the later facts were astonishing.

although some people in the industry refute the rumor that the “Beidou map app” has no direct relationship with Beidou satellite navigation and positioning system, it still excites the A-share market. At that time, many securities companies commented on the news of “Beidou map app online”.

the organic structure calls the product “the formal application of Beidou high-precision positioning, and the civil 2C terminal market is expected to open”; others say that “the landing and operation of Beidou map app is expected to further promote the extension of Beidou system from military market to mass consumption market with larger space, and the industry prospect is broad and worth looking forward to”. Continue ReadingVideo Number assistant internal test online! Four functions let you send 1g video on the computer

Author: zmhuaxia