According to the media, the purchase price of 2.42 billion yuan is almost a 40% discount to the original pricing principle of both parties.

Today’s close, the three major A-share indexes closed up collectively, Wingtech Technology rose 1.15%, and it rose nearly 4% during the session. Wingtech has made new progress in taking over the Apple business of OFILM.

On the evening of the 29th, Wingtech Technology (600745.SH, hereinafter referred to as “Wingtech”) issued an announcement, announcing that it has reached an agreement with OFILM (002456.SZ) on the acquisition of the camera business of specific customers. Wingtech will pay 2.42 billion yuan. Yuan (RMB, the same below) completes this acquisition transaction.

Although the announcement did not disclose who the “specific customer” is, it can be determined that the customer is Apple based on the previous statement of the founder of OFILM, Cai Rongjun.

According to China Business News, the previous announcement showed that Wingtech and OFILM initially determined the purchase price to be 10*A+B, A=Guangzhou Delta Imaging Technology Co., Ltd.’s 2020 audited net profit, B=Operation The transaction price of sexual assets is estimated to be about 6 billion yuan in total. This means that the purchase price of 2.42 billion yuan is almost a 40% discount from the original pricing principle.

The 6 billion yuan shrank to 2.42 billion yuan. What happened during this period?

To sort out the timeline, after the first announcement on February 7, OFILM issued an announcement on March 16 stating that it had received notification from specific overseas customers and that specific customers planned to terminate the purchasing relationship with the company and its subsidiaries. , Subsequent companies will no longer obtain existing business orders from specific customers.

Subsequently, on March 24, Wingtech issued an announcement stating that after learning that specific overseas customers plan to terminate the procurement relationship with OFILM and its subsidiaries, it immediately assessed the impact of the termination of orders from specific overseas customers on the underlying assets , And continue to communicate and negotiate with OFILM and specific overseas customers.

Therefore, a question that investors are generally concerned about is: After Apple terminates its business relationship with OFILM, can Wingtech still enter the Apple supply chain by acquiring relevant assets of OFILM?

In this regard, some Wingtech insiders told China Business News that Apple’s business needs to be re-certified, and Wingtech will apply for certification after completing the asset delivery.

In other words, Wingtech is still expected to obtain Apple’s camera business.

Through this acquisition, Wingtech, as a mobile phone ODM company, will extend its communications product integration business to the upstream electronic components business of the industrial chain. It is understood that Wingtech has also provided Apple with products in the field of wearable devices.

On the other hand, OFILM said that (split Apple’s camera business) can remove the burden and pack lightly. Cai Rongjun recently stated that he would leave Apple’s supplyThe chain system is subject to the objectivity of changes in the international trade environment. In addition to specific overseas customers, the company’s other customer businesses still have a relatively large scale. The company will not collapse due to the suspension of specific customer businesses. On the contrary, it is more conducive to focus on core business and core capabilities.

Previously, CITIC Securities also stated that after the divestiture, OFILM will focus on Android optics (lenses, modules, 3D ToF, etc.) as its core business, which is expected to accelerate its penetration among mainstream customers.

Recently, According to Xuanbao’s report, Xiaomi’s upcoming flagship machine, Mi MIX, is the latest supplier of liquid lenses used by OFILM.