A：Company Basic Information
Company Full Name: Inovance Technology Co., Ltd.
Stock Code: 300308.SZ
Stock Abbreviation: Inovance Technology
Region: Longkou City, Shandong Province
Industry: Optoelectronics
Establishment Date: June 27, 2005
Founder: Wang Weixiu
Company Website: http://www.inovance.com/
Registered Address: Longkou City, Shandong Province, Zhuyouguan Town
Total Shares: As of September 30, 2024, the total number of shares is 1.121 billion
Market Capitalization: As of October 24, 2024, the market capitalization is 176.135 billion yuan
Business Scope: Research, development, production, and sales of high-end optoelectronic communication transceiver modules and optoelectronic components
Company Profile: Inovance Technology is a high-tech enterprise focused on the field of optoelectronic communication components. The company, through its wholly-owned subsidiary Suzhou Inovance and its holding subsidiary Chengdu Chu Han, has been deeply involved in the optoelectronics industry for many years and has become an important participant in the industry, providing high-speed optical modules of 100G, 200G, 400G, and 800G for cloud data centers, while maintaining a leading position in the field of 5G fronthaul, midhaul, and backhaul optical modules.
B：Value Investment Analysis
Key Financial Indicators:
Revenue in 2023: Approximately 10.718 billion yuan, a year-on-year increase of 11.16%.
Net profit in 2023: Approximately 2.174 billion yuan, a year-on-year increase of 77.58%.
Total assets: Approximately 20.007 billion yuan, a year-on-year increase of 20.84%.
Net assets: Approximately 14.261 billion yuan, a year-on-year increase of 19.39%.
Revenue for the first three quarters of 2024: 17.313 billion yuan, a year-on-year increase of 146.26%.
Net profit attributable to the parent company for the first three quarters of 2024: 3.753 billion yuan, a year-on-year increase of 189.59%.
Company Investment Value:
Inovance Technology has a deep technological accumulation in the field of optoelectronics, continuously promoting the development of products towards high speed, miniaturization, low power consumption, and low cost.
The company provides high-speed optical modules of 100G, 200G, 400G, and 800G for cloud data centers, and maintains a leading position in the field of 5G fronthaul, midhaul, and backhaul optical modules.
According to the forecast by Lightcounting, the global market size of optical modules will grow at a CAGR of 11% from 2022 to 2027, and it is expected to exceed 20 billion US dollars in 2027.
Company Growth Potential:
Inovance Technology, with its technological advantages and market share in the field of optical modules, is expected to benefit from the growth of the industry.
The company focuses on the track of optoelectronics, actively expands domestic and international markets, and continuously improves core competitiveness through technological innovation and product upgrades.
Industry Support Policies:
The state has provided policy support for high-end equipment manufacturing, new energy vehicles, intelligent manufacturing, and other fields, providing a good external environment for the company's development.
International Policy Risks:
International trade friction may have a certain impact on the company's export business, but the company has effectively diversified international policy risks through global layout and localization strategy.
A.Top's Investment Review:
As a leading enterprise in the field of optoelectronics, Inovance Technology has shown good investment value and growth potential with its technological innovation and market development capabilities. With the continuous development of the optoelectronics industry, the company is expected to achieve broader market space and business growth in the future.