In addition to Qualcomm and MediaTek,The United Nations General Assembly, beigaozhi, Mingxing electronics and other agents occupied the top three。 In 2017, the total supply of components exceeded 800 million yuan.

 

After September 2013, the company gradually began to independently purchase raw materials and entrust themXintai communication, Jiashida and FlextronicsAnd other manufacturers for OEM production.

 

Sales model

The company mainly adopts two sales modes: direct sales and distribution,By 2017, the company had 209 agents, accounting for 56.27% of sales to agents respectively. The company's direct sales to customers accounted for 43.73%, the proportion of sales amount of direct selling mode is rising.

                         

Shanghai YiyuanThe five major agents are Shenzhen Dingxin Co., Ltd., Shenzhen shixunjie, Shenzhen Haitong, anfuli and Fuzhou ruilain technology. In 2017, the total sales of these five agents exceeded 420 million yuan.

 

The prince is inextricably linked

It also focuses on the field of wireless communication. The name of mobile communication is not only similar, but also inextricably linked with mobile communication launched in January 2017. It is reported that four board members and five senior managers of mobile communication, including the actual controllers Qian penghe, Zhang Dong and Huang Zhonglin, have served in mobile communication, and some have also worked in core smart.

 

You know,Wang Xi, the former shareholder of core smart, is the son of Yang Wenying, the richest woman in Shanghai. He is the prince with lofty aspirations. It has also been said that the initial investor of Yiyuan is inextricably linked with him. This layer of fog and light makes Yiyuan seem particularly mysterious and noble.

 

According to the prospectus, Qian penghe and Liao ronghua, the actual controller of mobile communication, jointly founded mobile communication company. Later, Qian penghe withdrew from the equity structure due to inconsistent business philosophy. Qian penghe founded mobile communication in 2010.

 

On March 9, 2015, Qian penghe and Dai Xiangan signed the equity transfer agreement, which agreed that Dai would transfer all of his 42.5% equity of the company at a price of RMB 21067300 to Qian penghe. Dai Xiangan is the mother-in-law of Liao ronghua, a former partner and now chairman of communications. The prospectus explained that Dai Xiangan's previous stake in Yiyuan company actually provided financial support for Liao ronghua's entrepreneurship of Qian penghe. In order to solve the problem of horizontal competition, Dai Xiangan transferred all his shares.

                         

Gross profit margin

Since 2015, the net profit level of mobile communication has been greatly improved. In fact, since this year, mobile communication has directly purchased from chip suppliers such as Qualcomm and MediaTek.

In addition to having an impact on cash flow, Qualcomm even limits what kind of customers mobile communications chooses. Prospectus information display,Qualcomm will collect a deposit from China mobile communications according to the purchase scale (referred to as "purchase rebate" in the prospectus). The rebate can only be received after the company sells its products to customers meeting Qualcomm's requirements.

 

As a shareholder, Qualcomm is still so harsh against customers. Is it because of Huawei's relationship?

 

Similar to the IPO of Jingfeng Mingyuan, the gross profit margin of mobile communication shows a downward trend year by year. From 2015 to 2017, they were 25.42%, 23.05% and 18.02% respectively.

 

The suppliers of mobile telecommunication are relatively centralized. Among them, the purchase of Qualcomm accounted for 22.73%; The procurement volume of UNDC accounted for 15.57%. The total purchase amount of the two companies accounted for 38.3%.

 

Industry profile

According to the information disclosed by the Ministry of industry and information technology, it is expected that by 2020, China's internationally competitive Internet of things industrial system will be basically formed, including perceptual manufacturing, network transmission and intelligent information servicesThe overall industrial scale exceeded 1.5 trillion yuan, with a compound annual growth rate of 27.48%.

According to techno systems research statistics,                           In 2016, the global shipment of Internet of things cellular communication modules was 122.7 million pieces, which will increase to 253.7 million pieces by 2020.                           The detailed information of global cellular communication module market scale forecast from 2013 to 2020 is shown in the figure below.                          
                         
                         

According to the statistics of techno systems research,At the end of 2016, China's cellular communication module Market shipped 34.5 million pieces.LTE based technology has gradually become the mainstream of cellular communication. The scale and forecast of China's cellular communication module market from 2013 to 2020 are shown in the figure.

Divided by the number of connections in the market segment, the transportation industry accounted for the largest proportion at the end of 2013 and still accounted for 38.59% of the total number of cellular communication module connections by 2020. Followed by remote control and intelligent meter reading business, accounting for 29.84% and 15.85% respectively by 2020. The market scale forecast of cellular communication module in global market segments from 2013 to 2020 is shown in the figure below.                          
                         
                          According to the data from techno systems research, in the subdivided industries of the cellular communication module market, the demand of transportation and mobile payment industry is the main driving factor. At the same time, the cellular communication module is also widely used in intelligent meter reading, public security and other fields. The market scale forecast of cellular communication module in China's market segments from 2013 to 2020 is shown in the figure below