宸展光电(厦门)股份有限公司:主要风险提示
来源:领航财经资讯网 作者:南希 发布时间:2019-06-11 15:41:38
(一)下游行业需求变动的风险 商用智能交互显示设备主要应用于零售、金融、工业自动化、医疗、餐饮 等下游终端领域。近年来,随着该等应用领域的蓬勃发展,人工智能、物联 网、材料、显示等技术的快速进步以及相关基础设施的逐步完善,下游零售、 金融、工业自动化、医疗、餐饮等行业对于商用智能交互显示设备的需求不断 增加,促进了商用智能交互显示设备市场规模的总体增长,为公司业务的稳健 发展提供了有利外部环境。 但若下游行业整体需求增长放缓或商用客户的产品需求偏好发生改变,进 而导致公司产品主要应用领域的设备需求出现下降,则可能对公司的盈利能力 产生不利影响。
(二)客户高度集中的风险 公司主要客户 Elo、NCR、Diebold、Mouse、Acrelec、长城信息、瑞迅、 新北洋等均系国内外知名品牌商。报告期内,公司前五名客户的销售收入总额 分别为 108,419.13 万元、92,497.40 万元和 99,973.13 万元,占公司营业收入的比 例分别为 88.63%、82.26%和 78.18%,客户构成相对稳定且集中度较高。公司与 上述知名品牌商长期、稳定的合作关系一定程度上保证了公司销售的稳定性, 体现了公司优异的设计开发能力及生产制造优势。 但未来若公司在产品质量控制、交货期等方面无法及时满足主要客户的要 求,或主要客户的经营状况、业务结构发生重大变化而导致对本公司的产品采购减少,将可能在一定时期内对本公司的经营状况产生不利影响。
(三)技术变革风险 商用智能交互显示设备的研发、设计、制造和检测过程涉及多个学科知识的 交叉与创新,要求研发人员和生产人员具备扎实的理论基础和技术经验,因此存 在较高的技术门槛。由于公司主要客户均为知名品牌商,其对于产品功能、性能、 材料、外观和使用稳定性等方面具有严格要求,公司唯有坚持研发创新,不断优 化产品设计和生产工艺,才能持续为客户提供契合需求的高品质定制化产品。 虽然公司目前的技术水平和生产工艺能够满足客户需求,但随着行业上下 游技术更新升级、融合创新的速度加快,若未来公司无法对技术变革作出及时 应对,将可能面临丧失竞争优势的风险。
(四)外销业务风险 公司产品销售以外销为主。报告期内,公司产品主要出口到美洲、欧洲、 亚洲等地区,外销收入占比分别达到 98.86%、96.83%和 94.58%。由于公司外销 业务主要使用美元结算,公司出于提高经营效率的考虑,需要持有较大数额的 美元资产和美元负债,因此主要面临人民币对美元汇率的波动风险。
报告期 内,人民币对美元汇率变化情况如下:
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)
(二)客户高度集中的风险 公司主要客户 Elo、NCR、Diebold、Mouse、Acrelec、长城信息、瑞迅、 新北洋等均系国内外知名品牌商。报告期内,公司前五名客户的销售收入总额 分别为 108,419.13 万元、92,497.40 万元和 99,973.13 万元,占公司营业收入的比 例分别为 88.63%、82.26%和 78.18%,客户构成相对稳定且集中度较高。公司与 上述知名品牌商长期、稳定的合作关系一定程度上保证了公司销售的稳定性, 体现了公司优异的设计开发能力及生产制造优势。 但未来若公司在产品质量控制、交货期等方面无法及时满足主要客户的要 求,或主要客户的经营状况、业务结构发生重大变化而导致对本公司的产品采购减少,将可能在一定时期内对本公司的经营状况产生不利影响。
(三)技术变革风险 商用智能交互显示设备的研发、设计、制造和检测过程涉及多个学科知识的 交叉与创新,要求研发人员和生产人员具备扎实的理论基础和技术经验,因此存 在较高的技术门槛。由于公司主要客户均为知名品牌商,其对于产品功能、性能、 材料、外观和使用稳定性等方面具有严格要求,公司唯有坚持研发创新,不断优 化产品设计和生产工艺,才能持续为客户提供契合需求的高品质定制化产品。 虽然公司目前的技术水平和生产工艺能够满足客户需求,但随着行业上下 游技术更新升级、融合创新的速度加快,若未来公司无法对技术变革作出及时 应对,将可能面临丧失竞争优势的风险。
(四)外销业务风险 公司产品销售以外销为主。报告期内,公司产品主要出口到美洲、欧洲、 亚洲等地区,外销收入占比分别达到 98.86%、96.83%和 94.58%。由于公司外销 业务主要使用美元结算,公司出于提高经营效率的考虑,需要持有较大数额的 美元资产和美元负债,因此主要面临人民币对美元汇率的波动风险。
报告期 内,人民币对美元汇率变化情况如下:
2016 年度至 2018 年度,公司主要受到人民币对美元汇率的波动影响,发生 汇兑损益分别为-421.12 万元、1,287.13 万元和-824.37 万元,占当期利润总额的 比例分别为-2.60%、13.24%和-5.27%。随着未来公司经营规模的扩大,公司外汇持有量预计将持续增加,若汇率出现不利波动则可能导致公司发生汇兑损失,对 公司盈利能力造成一定程度的不利影响。 此外,外销业务还受到进口国的贸易政策、经济状况、市场需求等国际贸 易环境的影响。近年来,随着美国在世界范围内挑起贸易争端,全球贸易局势 不确定性和国际贸易风险有所上升。其中,美国为扭转贸易逆差,于 2018 年 7 月6日、8月23日和9月24日分别对中国向美国出口的商品加征关税25%、25% 和 10%(9 月 24 日实施的 2,000 亿美元商品加征关税税率于 2019 年 5 月 10 日由 10%升至 25%),加征关税商品价值合计达 2,500 亿美元。虽然公司产品暂未被 列入美国历次加征关税清单,但若未来中美贸易争端加剧,或国际贸易环境出 现恶化,将可能对公司经营产生不利影响。
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