From June 9 to 10, 2020, the original plan of Alibaba auction platform will be put on the judicial auction of Chongqing Liangjiang New Area Soil and water start zone group No.2 construction project real estate. According to the inquiry of 21st century economic report, the two properties with a total starting price of 154 million yuan are located in Chongqing Beidou Industrial Park Phase I Project Office. The industrial park, which has set its target output value of 50 billion yuan in 2020, has been in the bad for several years.
This is just a microcosm of the markets over reaction to the Beidou fever in recent years. In 2018, a Wulong hype was even staged in A-share.
Whats more, the news of product release soon fermented to the A-share market and was recognized by the market. The 21st century economic report found that a number of securities companies had commented on the news that Beidou map app was online . Organic structure calls the product Beidou high-precision positioning official application, civil 2C end market is expected to open; organic structure calls Beidou map app landing operation, which is expected to further promote Beidou system from the military market to a more spacious mass consumer market, with a broad industrial prospect to be expected. As a result, the Wande satellite navigation index (884087. WI) soared more than 7% on April 9.
In 2007, Sanyou signed a cooperation agreement with the College of mechanical and electrical engineering and automation of National University of Defense Science and technology and other partners on the industrialization project of Beidou satellite system application equipment. In the same year, it invested 3.75 million yuan to establish Jiangsu Beidou Technology Co., Ltd. (hereinafter referred to as Jiangsu Beidou) with Shanghai jiangchu Xingyu Technology Development Co., Ltd. for the R & D, manufacturing and sales of Beidou satellite system application equipment.
Since its establishment 7 years ago, the development of Beidou in Jiangsu Province is not satisfactory. As of the end of 2013, the company was insolvent. In September 2014, Jiangsu Sanyou announced the bankruptcy liquidation of the subsidiary and said it would refocus on the main clothing industry. At this point, the companys diversification strategy failed, and soon embarked on the road of selling shell.
And the latest brush the edge ball is Broadcom integration, whose stock price continues to be depressed.
In response to questions from investors, the company said that Beidou / GPS dual-mode receiver SOC is one of the companys fund-raising projects, but it has not yet realized the product landing.
In fact, the 21st century economic reporter found that even among the 29 stocks currently included in the Wande satellite navigation index, a considerable part of the companys main revenue source is not Beidou related products and businesses.
In the 2018 Wulong hype, Zhongyuan is the beneficiary. On the same day, the companys share price closed at 6.75 yuan, achieving a trading limit.
The reason why Zhongyuan Co., Ltd. has become a Beidou concept stock is that the companys time synchronization system can simultaneously define the first Beidou / GPS signal. But in 2019, the product accounted for only 5.22% of the companys total revenue. In the first quarter of this year, Zhongyuan shares lost money.
Based on the research reports of several securities companies, China satellite, Haige communication, Beidou Xingtong, Huali chuangtong, united people, Zhenxin technology, zhonghaida, and four dimensional innovation have become the leading companies in all links of Beidou industrial chain. Among them, there are five to realize the upstream, middle and downstream coverage of the industrial chain, namely, China satellite, Haige communication, Beidou Xingtong, United thinking and vibration core technology.
The above-mentioned securities analysts told the 21st century economic reporter that the outbreak of Beidou industrial chain has obvious sequence characteristics, such as opening up from military to civilian, and promoting from home to abroad. Affected by this, the early implementation of the company s performance in military, police and other special application areas benefited the first. However, with the realization of beidou-3 global networking, the greater value-added space in the future must be transferred to the civil and mass industry markets.
The white paper on the development of Chinas satellite navigation and location service industry (2020) (hereinafter referred to as the white paper) shows that in 2019, the market revenue of Beidou satellite navigation system industry in China tends to be stable, and the output value of the upstream and middle reaches of the industrial chain accounts for 9.92% and 45.85% respectively, showing a downward trend; the output value of the downstream reaches 44.23%, with rapid growth. At the same time, the white paper also pointed out that in the past five years since Beidou satellite navigation system was officially launched, vehicle monitoring, information service, vehicle navigation and personal tracking accounted for 85% of all classified application businesses; as a professional industry application, timing, marine, mapping and military services accounted for only 8%. This series of data shows that the new market space of Beidou industrial chain will be in the civil market in the middle and lower reaches.
According to the research report recently released by Wanlian securities, the growth of Beidous three end application demand strongly promotes the vigorous development of all links of the industrial chain, and the driving force comes from the continuous expansion of the demand for dual-use market. Among them, industrial applications and public applications will be fully opened, and civil demand will be fully activated.
Beidou-3s global network accelerates the penetration of Beidous industrial growth focus into the middle and lower reaches of the market. Leading companies have the first mover advantage after realizing the whole industrial chain coverage. However, the 21st century economic reporter noted that some leading companies have been in a loss situation in recent years.
In the first quarter of this year, the companys performance continued to be under pressure. From January to March, the company lost 124 million yuan.
Beidou Xingtong is also suffering from performance pressure.
As the first listed company in Chinas satellite navigation industry, Beidou Xingtong aims to promote the industrial application of Beidou and help the development of the navigation industry. Moreover, since its listing in 2007, it has become the hot spot when the securities companies recommend Beidou concept shares. However, in 2019, the companys operating revenue reached 2.987 billion yuan, down 2.10% year-on-year; the net profit attributable to shareholders of the listed company was - 651 million yuan, down 710.59% year-on-year.
For last years loss, the company attributed the reason to the provision of asset impairment amount. An unnamed analyst told 21st century economic news that the company has been expanding its business mainly through extended M & A, which has an immediate effect, but the large amount of goodwill accumulated there is a risk of Thunderbolt. 21st century economic report found that in 2019, Beidou Xingtongs one-time asset impairment amount was nearly 700 million yuan.
According to the statistics of 21st century economic reporter, the same loss of Beidou leading concept stocks in 2019 also includes China Haida, Huali chuangtong and vibration core technology. Among them, CNOOC and Huali chuangtong lost 154 million yuan and 148 million yuan respectively last year, and vibration core technology lost 20 million yuan after deducting non recurring profit and loss. In fact, even if the global networking of Beidou system will make the civil market hot, some organizations think that the expansion of the civil market is less than expected. Wanlian Securities pointed out that a series of problems, such as increasing R & D difficulty, abnormal terminal shape, too large battery size and too high cost, will restrict the construction of Beidou civil market. In addition, Beidou civil market lacks relevant laws and regulations, which leads to market chaos and disordered competition. Both developers and operators are facing the risk of operating difficulties. Source: responsible editor of 21st century economic report: Yang Bin_ NF4368
In fact, even if the global networking of Beidou system will make the civil market hot, some organizations think that the expansion of the civil market is less than expected.
Wanlian Securities pointed out that a series of problems, such as increasing R & D difficulty, abnormal terminal shape, too large battery size and too high cost, will restrict the construction of Beidou civil market. In addition, Beidou civil market lacks relevant laws and regulations, which leads to market chaos and disordered competition. Both developers and operators are facing the risk of operating difficulties.