[The Epoch Times, December 04, 2022](Comprehensive report by Epoch Times reporter Li Bing) After the production of a headset was suspended by Apple, a major customer, Goertek suffered a chain reaction. On the evening of December 2, Goertek disclosed an announcement, officially revised and lowered the annual performance forecast, and it is expected that the net profit attributable to the parent company in 2022 will decrease by 50% to 60% year-on-year.
Prior to this, on October 28, Goertek disclosed its performance forecast for 2022, saying that the net profit is expected to be 4.06 billion to 4.7 billion yuan.
Specifically, Goertek stated that due to the suspension of production of one of its intelligent acoustic complete machine products by a major overseas customer, the company’s direct losses and asset impairment losses were about 2 billion to 2.4 billion yuan, which would have a negative impact on the 2022 annual operating performance. Significantly affected. The adjusted net profit attributable to shareholders of listed companies in 2022 is 1.71 billion to 2.14 billion yuan, a year-on-year decrease of 50% to 60%.
According to the “China Securities Journal”, Goertek is one of the two major assembly plants for Apple’s AirPods headphones. According to the analysis of the brokerage, the product points to the AirPods Pro 2, the new earphone product of a major customer (Apple) this year.
Well-known Apple analyst Ming-Chi Kuo speculated that the smart acoustic product that Goertek has suspended production may be Apple’s AirPods Pro2, and Goertek’s suspension of production is more likely due to production issues rather than demand issues.
In addition to producing Apple AirPods earphones, Goertek is also a supplier of acoustic components for Apple mobile phones, occupying an important position in the “fruit chain”.
With a big order from Apple, the company can turn around and become a “star stock” in the capital market, and AAC Technology, which suffered a “breakup” and its stock price fell by more than 90%, has a long way to go. In cooperation, the balance of cost and yield has always been the sword of Damocles hanging over the heads of all fruit chain companies.
Airpods was originally assembled and produced by Taiwan Inventec. Due to poor yield, Apple transferred the AirPods order to Luxshare Precision in 2017. In 2018, Goertek followed Luxshare Precision and won a 30% order share of AirPods.
“21st Century Business Herald” reported that many sources revealed that the part of Goertek’s lost orders is likely to be undertaken by Luxshare Precision.
Goertek revealed that based on the current progress, it is expected that this product will not be able to resume normal production and delivery in 2022. Affected by this, the company’s operating income this year has decreased by no more than 3.3 billion yuan, and the related direct loss has been about 900 million yuan (including direct profit reduction and shutdown losses, etc.).
As of the close on December 2, Goertek shares closed at 17.89 yuan, down 0.33%.
According to Flush iFinD data, Goertek’s share price has fallen by more than 20% since it was affected by the incident of “cutting orders” by major customers. As of now, its total market value is 61.19 billion yuan.
Last month, Apple announced the list of major suppliers for the 2021 fiscal year, in which eight Chinese manufacturers were removed. At present, 34 companies in China have been removed from the “fruit chain” by Apple.
Editor in charge: Sun Yun