ArcSoft Technology (688088): Vision application of smart phones is expanding into AIOT application field
The leading algorithm and solution provider company in the field of computational photography and machine vision began to focus on the research of image processing and shooting technology in the field of mobile photography in 2004. In 2015, it assisted mobile phone manufacturers to release the manufacturer’s first dual-camera phone with RGB + Mono solution.At present, a business structure based on smart phone vision solutions is expanding into the field of smart driving and IOT smart device vision solutions.The company achieved revenue in 20184.5.8 billion increased by 32.4%, realizing net profit attributable to owners of the parent company1.5.8 billion increased 杭州夜网论坛 by 82.5%.The actual controller held before the company issued 38.75% of the shares are held by employee shareholding platforms before the 15th issue.5% stake. The proportion of dual (multi) camera smartphones continues to increase, and the company’s leading advantage is obvious. The company’s smart phone vision solutions include smart single camera vision solutions, smart dual (multi) camera vision solutions, and intelligent depth camera solutions.Income 4.3.9 billion increased by 39.7% accounts for 95.8%.Against the background of sluggish smartphone growth, dual (multi-camera) smartphones still maintained near double-speed growth in 2018, and the company replaced most of the market share in the non-iPhone camp. Customers include Huawei, Samsung, Xiaomi, oppo, etc.Head phone manufacturers.Driven by depth cameras, 3D, VR, etc.,深圳丝袜会所 the penetration rate of dual (multi) camera phones will continue to increase, and the company’s single / dual / multi camera solutions will fully benefit.At the same time, it cannot be ignored that through the maturity of common algorithms, the company will also face competition from mobile phone manufacturers and module manufacturers. Vigorously lay out vision solutions in areas such as intelligent driving and IOT, and create new growth points. The company has now formed intelligent cockpit vision solutions, intelligent retail solutions and other solutions in the field of intelligent driving and IOT. In 2018, it realized the first scale revenue of 3.68 millionyuan. In 2018, the company’s intelligent driving and other IOT intelligent device vision solution research and development staff expanded from 12 to 62, while raising 3 of the investment funds.8.5 billion will be the industrialization of AI vision solutions in the Internet of Things field.Unmanned driving and IOT will be the core track of future machine vision applications, and the company’s business progress is worth looking forward to. Profit forecast and estimated indicators: The company’s net profit attributable to shareholders of listed companies is expected to be 2 in 2019-2021.07, 2.76, 3.76 trillion, the corresponding EPS is 0.51, 0.68, 0.93 yuan / share.Comprehensive absolute and relative estimates, the reasonable interval is 27.54-31.64 yuan / share. Risk warning: market competition is intensifying, intelligent driving and IOT vision solutions are not progressing as expected, and the unit price of algorithm authorization has fallen more than expected.