Chapter 452 [There are many people staring at the meat of Xingyu Technology]

Although Xingyu Technology's smartphone market share is only 7.25% in the world, it is not outstanding, but it is definitely not low. The most important thing is that the rise is too fast, and many old giant manufacturers have not even reacted.

In addition, the sales volume is actually not low at all, because the products are expensive and take the high-end route, which is only a little cheaper than Apple.

The most important thing is that the share of the domestic smartphone market is quite terrifying. Back to the mainland market, the proportion has soared by about ten times, and the share of the mainland market has reached 71%.

In other words, for every 100 smartphones sold in China last year, 71 were products from Xingyu Technology.

This market share is picturesque.

However, Fang Hong also understands that Xingyu Technology's first-mover advantage has taken advantage of it, and the domestic smartphone market has just begun to explode, and it has not even exploded in a real sense.

After all, for brands like Xiaomi, production capacity is really urgent.

Other manufacturers have just begun to deploy.

With the release of Xingyu Technology's explosive report card, it will undoubtedly accelerate the speed and scale of investment in the field of smartphones by players from all walks of life. It will usher in an unprecedented explosion, and it will also promote the vigorous development of the domestic mobile Internet.

In the current incremental market environment, everyone can’t even compete with each other. There are a lot of empty markets that are unoccupied, and you can eat meat when you come in. It’s nothing more than a problem of eating more and eating less, so everyone has no competitive conflicts.

Even Xingyu Technology, which has a first-mover advantage, cannot occupy all ecological niches.

Qin Feng's positioning for Xingyu Technology is very clear, focusing on the high-end market, and the target is Apple.

It is worth mentioning that Apple opened the door to the Greater China market with the iPhone 4 in Fang Hong's previous life, but now that Xingyu Technology has come out, the iPhone 4 has not yet opened the Greater China market, and the global Compared with the data of the previous life, the sales volume has not exceeded 30 million units.

Whether it can come in this year is still a matter of debate, because both parties are in a lawsuit, and Xingyu Technology has completely failed internationally. There is no way, but Qin Feng also thought about going to sea now.

But domestic lawsuits relying on Qunxing Capital are another matter.

...

On Monday, January 24, the A-share market opened. Although the index jumped up and down, the Xingyu Technology concept sector rose sharply today.

Goertek’s call auction opened 4 percentage points higher. The opening price was high and the daily limit was sealed. There was a rise in both volume and price. The cumulative increase of this ticket has been nearly 4 times since 2010, and it has stepped out of a strong upward relay trend throughout the year. .

In addition, Laibao High-Tech, a supply chain company that cooperates with Xingyu Technology, also opened sharply higher today. This ticket entered the supply chain system of Xingyu Technology in October last year, and its stock price directly increased in the following month. It has more than doubled from 21 yuan to 50 yuan.

In last year's demon stock list, Laybold Hi-Tech also had a place.

The stock fell unilaterally to around 34 yuan in the first month of the new year, an adjustment of more than 32%. Today, it was also stimulated by the weekend news and was pulled up by the limit of funds.

Basically, in today's A-share market, Xingyu Technology's concept stocks are booming across the board, and there are 5 stocks in the sector with daily limit. The profit-making effect of this sector is to buy as long as the auction opens today, basically eating meat.

For many domestic manufacturers, being able to join the Xingyu Technology supply chain system will definitely lead to a surge in performance. If the company goes public, it will inevitably lead to a surge in stock price.

Because it is not only the surge in orders, but more importantly, the profits are also considerable.

The profit of Xingyu Technology's smartphones is so high, and the market analysis and expectations once directly caught up with Apple, which is only a little bit worse.

However, according to the information disclosed this time, Xingyu Technology's net profit has not even exceeded 15%. In addition to spending more than half of the profit on technology research and development, the profits distributed to supply chain partners are also quite substantial.

That's why Xingyu Technology's concept stocks skyrocketed, especially the stocks of those manufacturers that joined the supply chain system were rushed to buy by institutions, because this is a solid logic, and the rise is not based on valuation, but on value.

Looking at the valuation is to look at the future expectations of a company, which is more about telling a story, while looking at the value is to look at how much a company can actually earn.

Being able to join the Xingyu Technology supply chain system means that the real profit exceeds the expected growth.

...

In the afternoon, live quietly in the villa, in the study on the second floor.

Tian Jiayi, who is reporting on his daily work, said with a smile: "At a meeting of the company today, it was mentioned that various mainland capital institutions came to Qunxing to propose the listing of Xingyu Technology. There were many old faces, like Zhong Tai. Capital, Pengrui Capital, etc., are all scrambling to take over the market."

Hearing this, Fang Hong cocked his legs and chuckled, glanced at the beautiful assistant and said: "Xingyu Technology is a big piece of meat, there are quite a few people staring at it."

Tian Jiayi nodded and said: "Zhongtai Capital is even willing to offer a price-earnings ratio of 35 times to undertake. Compared with Apple's current price-earnings ratio of 15 times, the price-earnings ratio is 20 times higher. I'm afraid I won't be able to get in the car."

The capital gave Xingyu Technology a price-earnings ratio of 35 times, that is to say, the valuation of this company in the primary market has now increased to 476 billion yuan, which is directly doubled compared with last year's valuation.

The 2010 annual sales report disclosed by Xingyu Technology last weekend was too explosive. Since the launch of the S1, market feedback has caused various analysts to raise their expectations all the way, from 5 million units to 10 million units, and then raised it again. 15 million units, and further raised the forecast to 18 million units.

The result still exceeded expectations.

It directly sold 22.203 million units throughout the year, and directly won 71% of the market share of smartphone sales in the mainland market last year.

Fang Hong said with a smile: "Xingyu Technology's performance is indeed very eye-catching, and it has exceeded my expectations. Looking at the situation, there is no need to go through a backdoor listing. It is only two years away from the line of profitability. You can adjust it and apply directly around 2012. List on the main board."

This year's net profit is only 13.6 billion. According to the financial requirements of the listing of a big A company, it needs to meet the cumulative net profit of more than 30 million yuan in the three years before the issuance, and the cumulative net operating cash flow of the three years before the issuance exceeds 50 million or the cumulative The operating income exceeds 300 million yuan.

There is no doubt that Xingyu Technology has reached the standard, and the only difference is the age standard.

Other companies may not get results in two or three years when they apply for listing, but Xingyu Technology must have a green light all the way to go public. The company's current largest shareholder is Qunxing Capital. After the B round of financing of 500 million last year, Qunxing The scale of capital holdings has risen to 80%.

And the five top national team organizations have already joined Qunxing Capital, and Xingyu Technology's A-share listing road is not comparable to the situation when Wang Qingxiong was listed for Hengtong Pharmaceutical Group.

Tian Jiayi looked at him and asked, "We're not taking the backdoor route? Are you sure?"

Fang Hong said: "There is no rush, let's go for a year and see for a year. Those capital institutions that want to get on the bus, I know they are in a hurry, so just let them go."

In fact, Xingyu Technology does not need to go public at all. It needs financing and directly ask Qunxing’s father to borrow money. Qunxing Capital is absolutely capable and can afford this money without pressure.

But Fang Hong still wants to let Xingyu Technology go public, one is to increase the asset credit of Qunxing Capital, and the other is to distribute the cake.

...