Wearable devices have a high degree of prosperity or long-term benefits
Galaxy Securities recently released a report on Changying Precision, saying that the market for wearable devices is currently between US$3 billion and US$5 billion. Credit Suisse believes that the market will rapidly increase to US$30-500 billion in the next two to three years. Juniper Research estimates that by 2017, the annual sales of networked wearable devices is expected to surge from about 15 million this year to around 70 million.
It is expected that smart phones will be one of the main driving forces for the growth of wearable technology. In the future, mobile phones may serve as intelligent control centers to keep all terminals such as wearable devices, tablets, notebooks, and TVs connected. With the emergence of portability requirements, hardware upgrades, sensors and battery improvements, the performance advantages of wearable devices such as portable and cloud-connected devices will become more and more obvious. Galaxy Securities expects wearable devices to be next explosive after smartphones. growth point.
Samsung will launch the smart watch GalaxyGear in September. The watch is expected to be 3 inches in size and has a wide CNC finishing aluminum frame on the outer ring. Currently, only the manufacturers of CNC precision metal parts in the Samsung supply chain are Changying Precision and BYD. It is expected that Changying Precision will have the opportunity to gain a share. Although Samsung's smart watch shipments are not large in the short term, it is expected that Samsung will benefit from smart phone support, channel and platform support in the future, and will occupy the mainstream market share. Changying Precision will benefit in the long run.
In addition, in other published wearable devices, various wearable devices such as google video glasses, sony smart watches, fruit case watches and rings are required to be equipped with CNC precision metal parts. The main purpose is (1) as the middle frame. Used for fixed touch and display; (2) for support and fixation for wear; (3) for enhanced aesthetics and wear resistance, Galaxy Securities believes that CNC metal parts will become one of the important accessories for wearable devices in the future. .
At present, the manufacturers with high-end CNC production capacity and vertical integration to improve product yield and delivery rate mainly include Taiwanese manufacturers such as Fujifilm, Foxconn, Kaisheng, etc., as well as mainland manufacturers Changying Precision and BYD, due to precision metal parts. The integration processing threshold is high, and the supply will not increase too much in the short term. Only Changying Precision and BYD can supply non-Apple camp terminal manufacturers.
Galaxy Securities expects Changying Precision to achieve EPS of 0.98, 1.57, 2.15 in 2013-2015, and the corresponding valuation is 39, 24, 18, maintaining a strong recommended investment rating.
It is expected that smart phones will be one of the main driving forces for the growth of wearable technology. In the future, mobile phones may serve as intelligent control centers to keep all terminals such as wearable devices, tablets, notebooks, and TVs connected. With the emergence of portability requirements, hardware upgrades, sensors and battery improvements, the performance advantages of wearable devices such as portable and cloud-connected devices will become more and more obvious. Galaxy Securities expects wearable devices to be next explosive after smartphones. growth point.
Samsung will launch the smart watch GalaxyGear in September. The watch is expected to be 3 inches in size and has a wide CNC finishing aluminum frame on the outer ring. Currently, only the manufacturers of CNC precision metal parts in the Samsung supply chain are Changying Precision and BYD. It is expected that Changying Precision will have the opportunity to gain a share. Although Samsung's smart watch shipments are not large in the short term, it is expected that Samsung will benefit from smart phone support, channel and platform support in the future, and will occupy the mainstream market share. Changying Precision will benefit in the long run.
In addition, in other published wearable devices, various wearable devices such as google video glasses, sony smart watches, fruit case watches and rings are required to be equipped with CNC precision metal parts. The main purpose is (1) as the middle frame. Used for fixed touch and display; (2) for support and fixation for wear; (3) for enhanced aesthetics and wear resistance, Galaxy Securities believes that CNC metal parts will become one of the important accessories for wearable devices in the future. .
At present, the manufacturers with high-end CNC production capacity and vertical integration to improve product yield and delivery rate mainly include Taiwanese manufacturers such as Fujifilm, Foxconn, Kaisheng, etc., as well as mainland manufacturers Changying Precision and BYD, due to precision metal parts. The integration processing threshold is high, and the supply will not increase too much in the short term. Only Changying Precision and BYD can supply non-Apple camp terminal manufacturers.
Galaxy Securities expects Changying Precision to achieve EPS of 0.98, 1.57, 2.15 in 2013-2015, and the corresponding valuation is 39, 24, 18, maintaining a strong recommended investment rating.
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