Today, Opheus Shares fell sharply, to 7.69 yuan as of 13:30, down 5.18 percent from the opening bell.
On the evening of October 13, Opheus announced that it expected a net loss of 58 million yuan to 70 million yuan in the third quarter, compared with a profit of 237 million yuan a year earlier, and a total net loss of 24 million yuan to 36 million yuan in the first three quarters, compared with a profit of 739 million yuan a year earlier.
Opheus was originally a supplier of products such as Apple's mobile phone camera modules, and in July 2020, the U.S. government added Orpheus subsidiary Nanchang OfiGuang Technology Co., Ltd. to its "entity list." On March 12, 2021, Apple unilaterally notified Ofe-Guang to terminate the partnership. Starting in the second quarter of this year, Orpheus will no longer ship to Apple.
According to the financial report,Previously, Apple accounted for 22.51 percent of the company's revenue in 2019 and 30 percent in 2020, corresponding to revenue of 11.7 billion yuan and 14.5 billion yuan, respectively, the second and largest customers of the year.
However, in the first half of this year, Opheus' operating income was RMB11,742 million, down 49.96 percent year-on-year, and its net profit was RMB034 million, down 93.25 percent year-on-year.
In an effort to restructure its business as quickly as possible, Ophex is selling Apple-related business assets. In April, Opheus sold its 100 per cent stake in Guangzhou-delta and Jiangxi Jingrun-owned camera-related equipment to Apple, with Zhuhai's state-owned enterprises joining forces with Wentai Technology. According to the announcement at that time, the acquirer intends to jointly invest 3 billion yuan to set up a new company to acquire the above-mentioned assets.
furthermore In the second half of 2020, Huawei, as the largest customer of Ophex, declined demand for Ophex's orders, which also led to a significant decline in its operating performance.
However, Opheus said that while developing its core business, it is actively expanding new business, laying out VR/AR, industrial, medical, sports cameras and other new areas of optical optoelectronics business, the new business is still in the import period or investment construction period.
That night, Opheus also announced that the company intends to cash capital contribution to its wholly-owned subsidiary Anhui Jingrun to increase capital of 290 million yuan, accounting for 3.22% of the company's audited net assets in the most recent year. The cumulative amount of outbound investment by the Company and its holding subsidiaries within 12 consecutive months will reach 10% of the Company's audited net assets in the most recent year. Ofe said the capital increase is aimed at further strengthening the company's optical layout, improve the smartphone, smart car sector business structure.
However, it now appears that new business in the performance contribution is relatively small, the report shows that optical optoelectronics products in the first half of the year to achieve operating income of 6,993 million yuan, down 40.47 percent year-on-year, but still accounted for the largest proportion;
According to First Financial, industry insiders believe that after Opheus was kicked out of the Apple industry chain, it is very difficult to tap other markets in the short term. How to maintain the advantage in peer competition, and in the future in the 5G application demand burst in the incremental orders, is the key to the company out of trouble.